Tired of working at your 9 to 5 job or just curious about emerging business opportunities in 2020? Many of us are, and being employed for someone does not seem as secure as it has previously been. Companies are laying off and more often offering fixed-term employment rather than being able to offer a permanent job.

Although there are known risks for starting a business, these factors have become significantly lower. Initial expenses from starting up a business can be minimized by choosing the right partners and correct field. Having a company operated fully from home and also having your possible future employees doing the same minimizes the costs. What is more, external factors may have a much smaller impact on your online business compared to brick and mortar businesses that depend on their clientele being there during certain times of the day.

Regardless of the field, there are always two types of costs: expected and variable costs. Variable costs are oftentimes surprising and unexpected, which is why it is crucial to estimate your expected costs as detailed as possible. For more information, you can check this guide on how to start a business online cheap. Now, let’s have a look at 3 industries that can be operated fully on digital platforms!

 

Are you good with your hands? Set up an online store.

The most traditional form of setting up an online business is to open an online store, making it also one of the most challenging ways to work the way up to the top. Competition is high and not much is needed budget-wise. The key is to have a product that speaks volumes and attracts people by how good it is. Consider going into a more niche market and analyze where the most potential customers are. Spend on online and social media marketing. Attracting locals may be a good strategy to start with even though it is an online store. Calculate shipping costs and compare courier companies.

 

Talented in coding? Businesses need your help.

Knowing various coding languages is still considered highly beneficial although the most basic programming is nowadays more and more automated. However, this truly is a job that gets you far and is likely to pay well. What it really requires is an interest towards it as well as patience – learning a new coding language requires time just like learning Spanish or French. Do not be too picky on first customers and projects to go for and consider learning multiple coding languages in order to offer more coherent packages and services to potential and existing customers and develop your skill from a simple coding expert to a talented programmer.

 

Intrigued in gambling? Open an online casino.

Opening up an online casino is a rather unconventional online business idea and it oftentimes requires some investments, talented people, industry knowledge as well as expertise on legal matters and licensing models. One of the most popular online casino formats is online casinos without registration (in Finland, these are called “kasinot ilman rekisteröitymistä”): casinos where players can deposit and withdraw without having to register an account, thus making it easier and faster for the customers to engage in casino games. Search information and make a plan regarding reliable software providers, products, gambling license, payment methods and marketing activities.

 

Having a special skill? Sell it.

All humans have skills acquired from studies, work experience or hobbies. The skill you have may not feel that special and interesting for you, but there are always people who are willing to learn something entirely new to them. Skills could be anything from teaching how to paint, bake or clean eco-friendly to selling packages or courses in social media marketing, copywriting or UX design. There are two main ways to start: starting from scratch or opening an account at a platform where many others operate on, such as Skillshare. Starting to sell your skill from scratch oftentimes requires work experience in the field as well as possible leads and potential buyers already at the early stages of the company. Shared platforms may be an easier option as potential customers know the platform, but intense competition and fees paid for using the platform may become unbeneficial.

 

Social media influencer? Why not.

Now, becoming a major social media superstar is not everyone’s dream and getting up there is highly unlikely. However, there is always room for consideration regarding this, as some smaller, local influencers earn some extra cash in addition to their base earnings. Nowadays social media platforms are utilized as a form of search engines to find answers to their questions. Learn about editing and photographing, analyze which platforms are the most suitable and think about paid ads and sponsorships as your channel grows. After a good and engaged subscriber base there may be room for opening up an online store – think what you can offer and whether social media could be for you.