They say that everything we need has already been invented, so there is not too much money for invention. People with small business ideas now focus on innovation – a better, cheaper, smarter and faster way to do things. You can learn how to analyze products and processes in a way that will help you streamline them by obtaining a business management degree; click here to learn how to enroll in an accredited online university.
Of course, there is no business without the demand for a certain product or service. Sometimes, the need is there, the market exists, but no one has found a way to serve them yet. Here are some of the small business ideas that we see now that seemed unnecessary or unimaginable during the past few decades:
Fitness and health -- The fast food businesses were a small business idea that flourished and made a lot of people suffer obesity. With this problem and other health issues that have come up in the 21st century, a new approach in medicine has evolved. It has transformed to a “wellness industry” wherein the principle is to avoid disease, rather than the old practice, which was to cure the disease. Businesses related to health and wellness have sprouted—from manufacturing organic food and supplements to the establishment of health gyms and spas. Everything now comes in organic form—vitamins, fresh produce, canned food, even non-food items are manufactured with organic ingredients, like cosmetics, toothpaste, shampoo and soap. Even acupuncture and acupressure have become widespread, now found in health spas and even medical clinics. Alternative medicine, which started the wellness trend, has become more accepted in the medical field, when it used to be taboo decades ago. Weight loss products are also all over the market, as well as exercise programs offered by fitness centers. Yoga and martial arts are small business ideas that have become a venue for fitness.
Goods and services that make us healthier and younger—all these health buff products and services were virtually unknown small business ideas 30 years ago.
Outsourcing and consulting -- Decades back, a company had to hire all its manpower needs with the complete benefits package. Today, services can be outsourced, and companies can maintain a lean manpower and incur minimal overhead costs thanks to these small business ideas. The companies that offer their services for outsourcing, on the other hand, can focus on their expertise and earn more by having more clients that have the same needs. Some of these outsourced services are manpower services like security services, janitorial services, and catering services. Recently, event organizing has become a trend, and companies no longer rely on their administrative staff to handle corporate events. Event organizing has become a very lucrative small business idea, as it only needs a few well-trained staff and a lot of networking with suppliers, caterers, and hotels.
Other services that are frequently outsourced by companies are computer programming services, legal services and bookkeeping and auditing services.
Alternative distribution -- Countries that have Internet access are now getting used to online shopping and auctions, which were non-existent in the 1990s. Today, entrepreneurs have found a faster and cheaper way of advertising, selling, distributing and delivering their products. Simply set up a website, contact friends and your online small business ideas can start rolling. Even big companies have taken advantage of technology and have allowed the distribution of their products through online ordering. With this set up, consumers are able to save time and they get to avoid impulse buying.
To learn more about growing and developing your own business ideas, consider enrolling in some online business development courses.