The Five (5) Future Business Opportunities for Entrepreneurs to Start in India.
November 11, 2022
Recently there has been a whole lot of buzz in media/internet associated with excessive failure charge of startups. They shared a listing of excessive-profile exits in latest past. Even i used to be greatly surprised to recognize approximately the failure of a number of the maximum promising corporations some years back. At that time, the specialists tagged them as Future Business Opportunities. Unfortunately, it didn’t flip out to be. Let’s take delivery of the truth that the “Web” or “Media” is unforgiving. It changed into pretty unhappy to study the ruthless and difficult hitting opinions approximately the blue eyed boys or poster boys of entrepreneurship.
In maximum of the cases, founders don’t share/take delivery of the motives for a startup failure. In my post, Startup Failure – Top five motives Founders will now no longer Accept i shared a number of the not unusualplace motives primarily based totally on my understanding. As i hold highlighting that “price” is one of the main cause for failure. At the identical time, it’s miles very tough to hold the price below manage all through infancy period.
It is capture 22 conditions for marketers. On the only hand, we count on marketers to scout for Future Business Opportunities. Whereas on the opposite hand, there’s a excessive strain on them to hold the price below manage. Anyways this debate is by no means ending.
In my opinion, the Future Business Opportunities lie withinside the converting socio-monetary panorama of the country. The maximum crucial element for fulfillment is that the product/carrier must be want based. Based on my assessment, i’m sharing a listing of five Future Business Opportunities.
The five Future Business Opportunities for Entrepreneurs to Start
1. Home Automation:
As i shared in my post, Jobs in Danger and Will cross Extinct that largest casualty of automation could be jobs in sure prone sectors. There is lots of cognizance on automation in commercial enterprise/industrial space. In my opinion, aleven though Home Automation is lagging at the back of at this level however it’s going to outpace others. Recently, one of the Ads that stuck my interest changed into a actual property venture. It is being advertised as a venture with absolutely automatic homes. Though withinside the call of automation, the builder is charging a bomb.
When i checked in detail, i discovered that fundamental generation integration is classified as automation. Therefore, domestic automation presents High Profit Margin Business opportunity. Another massive cause for domestic automation could be clever metropolis venture of Govt of India.
There are a number of organizations operating on this area however in isolation. For example, one of the MNC is supplying lights answers primarily based totally in your mood. It is the clever lights answer. Other key domain names of domestic automation are protection and electric appliances.
The knowledge of IOT (Internet of Things) could be the important thing to the fulfillment of Home Automation. I did a bit bit studies on Home Automation however couldn’t discover any incorporated domestic automation answer primarily based totally on patron needs. It is one of the maximum promising destiny commercial enterprise opportunities. Initially, the value could be excessive however the key to fulfillment could be low-value answers.
2. Urbanization/Space Utilization:
With the fast urbanization, the gap usage will advantage increasingly more traction. The fine case examine is of Hong Kong. You will discover multi function domestic in Hong Kong inside a restrained region of 350-500 sqft. Already in Mumbai, there may be a tremendous call for for 1 BHK’s of 375 to 500 sq ft. Space usage does now no longer always imply compact however it additionally way multi-purpose.
The fine example, i will quote is of movie “Badshaah”. Wherein a residence is transformed to a medical institution and vice versa. Though it changed into imaginary the ones instances however may be a fact soon. As in keeping with a difficult estimate, 2/third self-hired people/small marketers paintings from domestic.
This elegance will now no longer thoughts an answer that could convert dwelling room to the workplace at some stage in the daytime. In the night, it is able to be transformed lower back to dwelling room via automation/mild modifications. Therefore, it’s miles one in every of Future Business Opportunities due to urbanization.
3. Online Reputation Management:
Slowly and step by step bodily presence may be overtaken through a web presence. I recall days while humans used to offer loads of significance to how they bring about themselves. In different phrases their clothing, manners, social behavior, hospitality etc. In short, we used to choose humans from their bodily look and social behavior.
Thus recognition became without delay related to bodily look. Some marketers sensed it to be one of the Future Business Opportunities. It led to mushrooming of grooming schools, cookery instructions etc. With every passing day, humans have become extra digital i.e. on line presence is gaining prominence. It can be because of technology, loss of time and disturbing life. We have thousand of buddies on Facebook and WhatsApp however we may not have met them from ages.
Nowadays, humans choose someone from their on line presence. Some time returned there has been an editorial in one of the main worldwide commercial enterprise newspapers that businesses overseas are giving excessive weight to candidate’s on line recognition for center and pinnacle control jobs.
In my opinion, on line recognition control may be one of the maximum profitable Future Business Opportunities. The uber wealthy in India is already availing this sort of service. With the growth in net penetration, on line recognition control may be one of the killer Future Business Opportunities.
4. Eat Natural and Stay Healthy:
Recently, i used to be amazed while my daughter advised me now no longer to consume junk meals and keep away from gentle drinks. These days faculties are developing recognition amongst youngsters to “consume herbal and live healthy”. Her faculty does now no longer permit junk meals for lunch and has given strict commands to parents :). It is meditated withinside the economic effects of the gentle drink majors and junk meals corporations.
They are witnessing de-boom on a steady basis. Though those corporations followed Kids Marketing direction however now understanding it’s going to now no longer work. The subject matter of “consume herbal and live healthy” offer massive no of Future Business Opportunities. The unlucky component is that NO corporation is capable of apprehend this commercial enterprise.
In different words, they’re now no longer getting their maths correct. One of the gentle drink majors attempted plenty of merchandise on this section however failed miserably each time. Therefore, this section does offer destiny commercial enterprise possibilities however the way to faucet the equal is 1,000,000 greenback question.
I am sorry however come what may the subject of task loss is available in maximum of my posts withinside the commercial enterprise section. I am now no longer sounding pessimistic however the truth of the problem is that during coming years hundreds of thousands will lose their task due to automation and monetary slowdown.
Besides, new technology will render maximum of the personnel unemployable. After a task loss, the primary mind withinside the thoughts is to show entrepreneur. In my opinion, there can be a massive call for for mentors and experts for startups.
Another motive is that to maintain the price below control, the marketers will select mentors and experts in a particular area as a substitute hiring an employee. To be eligible for such Future Business Opportunities, it’s far vital to set up your credentials withinside the area.
I recognise one of the representative/mentor in generation area who occurs to be a blogger. He costs a bomb to offer session to corporate/startup. Being a mentor or representative will assist you stay employable for longer period :).
Words of Wisdom:
The listing of destiny commercial enterprise possibilities may also fluctuate from man or woman to man or woman. In my opinion, the listing need to replicate the gradual and slow adjustments occurring round us. The me-too version can’t achieve startup area.
The passion, dream, and conviction to be successful are primary components of success. In different words, you need to accept as true with on your idea. Personally, i accept as true with withinside the thoughts shared via way of means of me on this put up.
Through my blog, i’m handiest performing as a channel to percentage my mind with the readers. If you’ve got got any queries/feedback/feedback at the destiny commercial enterprise possibilities shared via way of means of me then please sense unfastened to put up in trailing feedback section.