An entrepreneur is free to start a business in any field and become successful. But it helps if the field chosen is dynamic, promising and basically fertile for business.
Here are few such fields which can provide a strong start to the budding entrepreneurial:
No matter how much Elon Musk is wary of it, the fact remains that Artificial Intelligence (AI) is here to stay. The likes of Jeff Bezos, Mark Zuckerberg and Jack Ma have invested millions of dollars in this field, as AI is touted to be the face of technology in the upcoming years. This is the perfect time to enter this sphere, as AI has started changing the game but is yet to be established properly. This gives the perfect window to entrepreneurs to enter the field and capture the market early on. The industry is touted to be worth over 190 billion dollars by 2024, and this statistic is proof enough of the promise that this industry shows.
Personalized Health Solutions
The need to eat healthy and live a wholesome lifestyle inclusive of exercise, nutrition and mental peace is higher than ever. As various reasons like climate change, substandard food, technology, competition in the workplace etc have adversely affected people’s physical and mental health, people are trying out new ways to live a better life. With changing times, healthcare is not one-size-fits-all model anymore. Millennials are seeking customized health packages tailored to their needs and lifestyle. It is a great time to enter this market, as only a few players exist in it currently. Giants like Apple have started to enter the healthcare industry, acting as a testament to the shining future of this industry.
Finance is one of the oldest surviving industries, which has retained its charm. This industry can never go obsolete. With the recent rise in globalization and foreign trade, the world has become a unified global economy. This implies the possibilities in this field are endless. From investing platforms for younger generations to cryptocurrency to venture capital, the field is gaining more traction with time. There is a need of finance-based technology (as seen in the recent boom of cryptocurrency) and as a result Facebook has announced that it is launching its own cryptocurrency called Libra soon. The time to enter this industry is now and the time to shine, forever.
Travel, both for work and for personal purposes, has seen a sharp rise in the past few years. Oyo, a pioneer in the Indian hospitality sector, is a dream start-up story. Oyo has even started to expand its operation overseas. Globally, Airbnb is giving big hotel chains a run for their money. Providing budget-friendly and service-based solutions in this sector can be a potential business. This sector is moving away from established players to emerging and young start-ups, providing a perfect opportunity to all the budding entrepreneurs out there.
With the rise of internet activism and media coverage, people are getting more and more aware about our environment. The issues surrounding environment are very serious in nature and the demand for eco-friendly substitutes are on the rise. This demand is across various industries like energy, food, transportation, cosmetics and apparels to name a few. Governments are switching to sustainable energy methods and conglomerates are starting to avoid using substances that may harm the environment. Promising alternative solutions in this field can not only work wonders for entrepreneurs, but for Mother Earth as well.