The 7 Biggest Business Opportunities in The World Today
What’s the biggest business opportunity in the world right today? Originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
Opportunity is only what you make it, right?
But not all opportunities were created equal either. Tell you what, I’m going to give you a proven model for starting a successful business, and let you do the rest.
Ever heard of white-labeling?
White-labeling is a manufacturer—reseller business model where one company will manufacturer a product (generally software) or offer a software related service that can be rebranded and resold by a reseller.
Enter you (the reseller):
- You purchase the software, or pay a subscription fee, or sometimes just signup for free with the “manufacturer”.
- You put your branding on the software so that it looks like it was your own creation.
- You negotiate a contract with the software “manufacturer’s” third party fulfilment teams who will impersonate employees of your new company and complete work on your behalf.
- You resell the product or service to local business clients that need your help.
- No initial staffing requirements
- Fulfilment teams grow with you and allow you to easily balance revenue and costs
- No physical distribution network or brick and mortar store needed (all transactions occur online)
- No research and development involved
- All you have to do is find your clients
Now here are some of the top white-label business opportunities in the market today:
1. Start a Website Hosting & Design Agency
The web hosting services market is currently valued at over $40 billion and is projected to reach $154 billion USD by 2022. Be pretty nice to grab a slice of that right?
By using white-label providers you can easily offer website hosting, web design services, search engine optimization (SEO), and numerous other website related services.
2. Start an SEO Agency
You know those wizards that get websites on the first page of Google? They could be your wizards. It is projected that the spend on SEO for 2018 will be about $5.6 billion USD in North America alone, so there is ample opportunity for revenue generation.
Some services that you could offer through white-label providers would be SEO auditing, on-page SEO optimization, off-page optimization, blog creation services, and more.
3. Start an Online Reputation Agency
Fun fact, 91% of people trust what they see and read on search engines (online reputations), and 65% trust these results more than any other source. Businesses need help managing their online reputations through reviews, ratings, listings, and social media.
Products and services you could offer would include reputation auditing, reputation management, review response, review generation, and social media management.
4. Sell the Business Essentials
There are foundational products and services that most businesses need just to have a fighting chance in the digital era.
Consider reselling listing solutions, graphic design services, basic reputation mnagement, and maybe even some web hosting and design. You can also look into becoming a reseller of G Suite or Office 365 to further grow your share of wallet.
5. Start a White-Label Content Agency
Companies with blogs produce 67% more leads per month than those without. Further, With the addition of video content, businesses are 53 times more likely to show up on Google.
By outsourcing services like blog creation, video creation and website copywriting, you can quickly meet essential content needs for business clients.
6. Start a White-Label Accounting Firm
Numbers more your speed? Look into partnering with white-label accounting product and service providers to claim your share of the $156 billion dollar market.
Companies like Booxkeeping will handle outsourced accounting work for you, while other companies like Flexi will simply allow you to resell accounting software to clients.
7. Become a Full-Stack Marketing Agency
Consumers don’t shop like they used to, so for your clients, capitalizing on the modern customer journey is the difference between landing a sale and a consumer buying products or services from a competitor.
Here’s what that journey looks like:
It might sound like a hefty task to attempt to meet all of these needs for clients, but white-label providers make it easy.
Core solutions in this offering would be digital advertising, listing solutions, reputation management, social media management, web hosting/creation, and a CRM for you to manage all of it.
Contributed by Brock Andony, Marketing Analyst at VendAsta Technologies (2018-present)