Unique Business Ideas For Year 2020

Envisioning a business framework can be a mind-bending task. You need to come up with a simple or an unusual idea that will bring profitable margins. Opportunities are bountiful, but many people have difficulty in recognizing them. What separates a successful entrepreneur from others is his or her ability to see and seize the opportunity.

On that note, here are some unique business ideas to consider next year.

#1: LOGO DESIGNER

As I was watching a renowned Tattoo artist review the different tattoos seen in cinema, I realized how important branding and logos are to a person or a business. It emphasizes ones beliefs and sends out a message. Help your clients send out the “right” message by designing their logos for them. Offer your design services to help businesses brand their materials or products.

#2: VINTAGE RESELLER

The entrepreneur behind the fashion maven Nasty Gal started out as a vintage reseller. She thrift shops and sells vintage items online for a higher premium. You can do the same by curating your own vintage or pre-loved collection.

You do not have to actually make or own your products in order to showcase your creativity. Simply resell these items online and use your photography skills to attract more customers in Instagram, Carousell, and beyond.

#3: HEAD LICE REMOVER

Bugs and pests are nasty! Fortunately, you can make a fortune out of it by providing “removal services”. Head lice are out there and come when you least expect them – scavenging on your child’s hair. With a few medicated shampoos and oils as well as a set of combing tools, you will be able to help several mothers out there!

#4: MANNEQUIN SELLER

Whether you acquired mannequins by chance or by choice, you can re-sell or rent them out to businesses or individuals who need them. Is there a retail store coming up in your neighborhood? Offer your services with a discount to start a professional relationship. Who knows? They might branch out in a year or two.

#5: JEWELRY VENDOR

Josh Opperman started his website called I Do, Now I Don’t when he was left by the woman he was supposed to marry after a three-month engagement period. When he took his fancy ring back to the jeweler, he was offered US$3,500 for it. He refused ad he paid over US$10,000 for its original price. Imagine that!

Image Credits: pixabay.com

Hence, he opened a website that allows people to sell their engagement rings for a friendlier price that the jewelry store. Think of it as Carousell or Craigslist for fine jewelry. Now, you may adapt the same business framework and put a local twist to it.

Sources: 1 & 2

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How To Start An E-Commerce Business From Scratch

Whether you want to admit it or not, the online business world is filled with fierce competition. The key to a successful business is turning your dreams into a reality by knowing yourself. Plan your defense. Know what you are getting yourself into before you even begin.

WHAT MAKES YOU UNIQUE?

Everything starts from within. Before you begin selling your products or services, you must find the right ones that have the potential for serious profitability. Find a niche. Learn how to examine your skills and capabilities and research on the unique aspects that you can offer.

For instance, a friend of mine owns an online store that sells organic mosquito repellent products such as Citronella soaps and Citronella room spray. Her niche is fusing organic ingredients and self-care needs.

WHICH BUSINESS IDEAS CAN SUSTAIN THE MARKET?

Do your extensive research on evaluating market viability. Which products or services do people clamor over? What are the needs of the Singaporean children, teens, or adults? Use your business idea to dig deeper into market viability. Think about the details that can make or break your business such as shipping methods and staff requirements.

For instance, you must consider the product lifespan. Think of owning an online store selling vegetables. Inventory churn is high and competition reigns supreme!

WHAT ARE THE PROBLEMS YOU ARE TRYING TO SOLVE?

Validate the importance of your products or services by using keyword research and evaluating trending items in the market. Start conducting research on the market and the Singaporean majority. The trick is to find a group of people who are searching for a solution to a problem.

Visit online forums to see what problems people are trying to solve. Then, create a product or a service that will alleviate the issues. Learn about your competitors too!

WHAT ARE THE ONLINE BUSINESS LAWS?

Which government laws do you need to abide to when you open your online business? Do your research on the shipping restrictions, zoning laws, trademark considerations, and so on.

You need to polish all your business requirements before pursuing the leap of faith. By knowing the laws, you can avoid being trapped into landmines that will derail your business from succeeding.

WHICH WEBSITE DESIGN SHALL YOU APPLY?

Once you have established your product or service and you have researched your market, you are now ready to build your website. Remember to keep things simple in order to grab your potential client’s attention. Keep these pointers in mind:

A. work with two plain fonts that are easy to understand,
B. make your navigation clear and consistent on every page,
C. only use graphics, videos, or audios that will enhance your message, and
D. include opt-in promotions to collect email addresses.

HOW CAN YOU CREATE LIFETIME RELATIONSHIPS?

Well, the surest way to create a tribe for your online shop is to use the power of email marketing. Your customers and subscribers have given you the permission to send them notifications. This means that you may develop lifetime relationships with them, you may measure the percentage of response, and you may boost your traffic.

Image Credits: pixabay.com

Email marketing is cheaper and more efficient than print, TV, or radio marketing because it is highly targeted.

Sources: 1 &
2

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4 Practical Tips On Making Your Online Business Successful

With a growth mindset, you aim to expand your online business in many ways! For starters, you want it to be more profitable than ever. All these goals can be possible once you employ the necessary changes. Remember that building a successful online business is a marathon and not a sprint! Nothing good happens overnight.

#1: WORD OF MOUTH

Millennials consume everything at a fast rate! When we want something, we want it now. With the digital consumer culture, it is best to create a positive online community. Post your clients’ feedback and tagged photos.

Singaporeans turn to the web for reviews on businesses and other services. Get positive word of mouth by providing professional service, monitoring your online presence, and giving back to the community. You may partake in or host charity events once a year.

#2: STOREFRONT OF YOUR BUSINESS

You have a fantastic product and a bulletproof selling process. It is time to design your own website. When creating your own website for your online business, you must keep things simple. You have about five seconds to grab someone’s attention. Otherwise, you will never see them again!

Ensure that you keep things simple by choosing two plain fonts and by making navigation clear. Collect as many email addresses as you can by offering promotions at the front page. Lastly, make buying accessible within one or two clicks. Ultimately, you must think of your website as your storefront. You have to make it eye-catching and consumer-friendly.

#3: POWER OF EMAIL MARKETING

As I have said above, you may collect as many email addresses as you can. Use these e-addresses to test the power of email marketing. It is such a strong tool to turn your potential consumers into loyal buyers. Allowing them to subscribe in your mail-list gives you permission to send regular promotions or new product updates. You are developing a long-lasting relationship with your client. Make each email count!

Email marketing is beneficial not only because it is cheaper that print marketing, but also because it is 100% measurable. You will be able to track whether you hit the target or not.

#4: EXPANSION OF THE CLOUD

With a startup business like yours, you can benefit from no-cost programs such as the “cloud” (e.g., Google Drive). Storing your files in one digital place will you monitor your gains and losses. The major advantages of using the cloud are its accessibility and its cost-effectiveness.

You will be able to access your business accounts and accounting files from anywhere and anytime using cloud-based applications. This way, you no longer have to pay for other applications.

Image Credits: unsplash.com

Being an online entrepreneur has its ups and downs. You just have to find practical ways to handle the obstacles and to move forward.

Source: Entrepreneur

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Which Suits You Best: Employee Or Entrepreneur?

There are definite perks when you become your own boss. When you are the boss, you call the shots! This does not mean that you will disregard the opinion of others and that of your clients. Simply, you need to interact harmoniously with your team, your business partners, and the clients. No man is an island, no matter how many coconut trees you own.

Being a boss fits a certain type of mindset. Consider reinventing yourself as an employee if you do not meet the Entrepreneur mindset.

THOUGHTS ON INDEPENDENCE

An entrepreneur welcomes the idea of working independently. Business owners are willing to take full responsibility for completing their own tasks on schedule. Not to mention, self-employed individuals who work at home spend most of their time without a staff supporting them.

On the other hand, employees set their minds to tasks given by their bosses. They are expected to complete these tasks within a given schedule.

THOUGHTS ON GOALS

Business owners plan, market, and oversee the success of their businesses. Running a successful business entails formulation a well thought out business plan. Write a simple mission and vision statement for the company to direct their goals to it. Having a specific set of goals directs the actions to a unified path.

In contrast, an employee follows the short and long-term goals that someone else set.

THOUGHTS ON MONEY

Business owners need to operate based on the financial situation of the company. Are you knowledgeable about the operation costs and profits? Can you create a fair paycheck while tackling risks? A key factor in starting a business is being able to handle the financial ups and downs. Take money management classes or hire financial professionals to improve your financial support.

Image Credits: pixabay.com

Lastly, employees take away the responsibility of building a successful business. Sometimes, they overlook the financial risks of building a profitable business. When this happens, the business owner must step in to mend things.

Sources: 1 & 2

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What You Need to Know About Starting a Business in Singapore

When it comes to things that many people believe adults must achieve at a certain point in their lives, one of those things happens to be the ability to put up their very own business and earn a good amount of money each month successfully. While not everybody aspires to be an up and coming entrepreneur, it is hard to deny that this profession has its very own set of alluring benefits, such as the prestige that comes with being the owner of your very own company as well as the fact that you could make quite a killing in terms of profits if your business manages to take off. The thing is that businesses are not easy to start up. In fact, they can be downright difficult, if not seem nearly impossible to pull off. But with the right know-how, you should be able to overcome all the odds and start a very successful business. In this article, we will give you a lot of handy tips so that you can make better decisions when it comes to starting your very own company in this very prosperous country.

Deciding What Industry to Break Into

Of course, as with any venture, you will need to consider what type of product or service you will be offering your customers. You cannot offer it all, not unless you were a superhuman businessperson who could flit from one category to another. It would be incredibly tough to try and figure out a marketing strategy for every single type of target market that you wanted to reach and sell to. If you are more creatively inclined, you might want to start an ad agency or a creative studio that provides great visual content to a lot of other businesses by using a business-to-business (otherwise known as B2B) strategy. One of the problems you might have to overcome is the fact that a lot of businesses have started outsourcing to freelancers because they often charge less than a huge ad agency would for a marketing campaign.

You could also just go into the food industry by putting up your very own restaurant and serving the recipes that only you have come up with. However, that would come with its own set of problems, too, such as deciding how much of each ingredient you should buy each week so that you are sure that you are providing your customers fresh components each time you serve them a meal. Having tons of food expire on you before you could even use them could put your bank account in the red much faster than you expected.

You can take into consideration a lot of recent property news from Singapore while you browse for good locations on the super useful sight called Property Singapore. Which industries seem to be booming right now? What are the forecasts by the experts when it comes to the field that you want to try building a career and a name in? What are the things you need to consider for the specific field that you want to build the business in?

Finding the Right Business Space

Whether you need to put up an office or want to build a retail space from scratch, you have to consider a ton of things, including how big the shop should be, as well as where you should put it. If you are just trying to start an office and you do not really need to invite clients over that much, then you can probably get away with starting your office in a location that is not as busy or expensive. However, you will have to contend with the fact that you might have a hard time hiring people if your office is too out of the way for a lot of people who have the skills that you are looking for. On the other hand, if you would like to put up a small store that features all of the products that you would like to offer, then you might want to choose an area that is very close to your target demographic, according to an article by Entrepreneur. Of course, the fact that you are considering Singapore to be your base operations can offer you a ton of benefits, according to the Ministry of Manpower. The country has many free trade agreements that might work to your company’s advantage, and they have laws that can protect your original ideas, too.

Starting a business can be tough, but it does not have to be impossible. As long as you make wise decisions, you should be able to break into whatever type of industry you want, and be successful while you are at it, too. Keep these tips in mind and you will surely make waves across the country with your offerings.

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