Sometimes you just know that it’s time for a new beginning. New beginnings are often the sliver of hope you get after a big hit you’ve taken, giving you sufficient proof that it’s time to shut down a project that has outgrown its use and substitute it with something more promising.
As hard as it might be at first, this difficult situation has a silver lining. It’s a golden opportunity to explore the market once again and find the most promising business ideas to get started on, instead of wasting precious resources on a dead project. The expert insolvency practitioners at approved-recovery.co.uk explain how a Members’ Voluntary Liquidation will help you repay your debts to creditors while maximizing tax-efficient returns when you’re faced with such a situation. Once that’s done, you’ll be able to invest the remaining capital in a much more promising idea.
After you’ve had your financial and legal procedures sorted out, you’ll want to invest in the most profitable business.
To help you do that, we’ll give you an idea of the most popular picks for 2020.
1. Digital Marketing Services
In such a digital world, it comes as no surprise that the demand for professional digital marketing services is constantly increasing. It’s also one of the most profitable business fields owing to the great returns on business that digital marketing can provide—but only if done correctly. There is a plethora of marketing agencies that offer their services, but most lack expertise, and thus they fall short on the promised quality of service.
You can start a digital marketing agency that provides full digital marketing services, or you can specialize in one of the following fields:
The demand for SEO keeps on rising, and it’s especially high at this point of the year as the search algorithms implement their new criteria. Businesses of all kinds, sizes, and specialties are seeking SEO experts to ensure their high rankings remain unscathed in the face of changes, and newly launched businesses need to take the market by storm, as well.
b. Social Media Management
The need for social media management is almost as strong. Social media managers create a marketing strategy for their clients, implement it, and give them updated reports about the performance.
c. Content Management
No matter how good a marketing strategist may be, their work goes to waste without bulletproof content. This makes the demand for content management specialists so high; they’re hired to create SEO-optimized blogs, engaging social media posts, and any other form of content.
d. Graphic Design & Video Production
Aside from the written word, the demand for visual content also remains strong. You can satisfy this need by offering graphic design or videography services.
2. Web Development & Design
Digital marketing specialists take up where web developers and web designers leave off. Business owners in this age understand the necessity of having a professional business website to build a strong image and reputation, and they’re willing to pay good money to acquire their visions.
3. Software as a Service (SaaS)
If you have a strong background in computer science, perhaps you’ll want to provide your services on a bigger scale. In this case, you can create software that tends to the needs of many businesses at the same time. This way, you’ll ensure high demand for your services, as you’ll be targeting businesses at their weakest points, giving them the solution they know very well that they need.
4. Business Intelligence and Data Analysis
The world of big data is predicted to be the future of businesses. It’s no wonder, as those who are able to read this data and predict the future will definitely have leverage over others. As a result, using business intelligence tools to analyze and predict data, and offer futuristic solutions has already started to be one of the most popular trends.
5. 3D Printing
The digital world isn’t the only thing taking businesses by storm. The hardware sector is also catching up, albeit in quite a creative way. 3D printing has witnessed widespread development all over the world, with all of its unparalleled advantages. By offering cost-effective, practical, efficient, and quick prototyping solutions, it’s become quite among hardware manufacturers and technical service providers.
If you feel like it’s time for a change, then you’re in luck. The world of business is witnessing huge changes, and there’s no time like the present. Depending on your resources and field of specialization, you might want to consider starting a digital marketing agency, providing web development and design services, creating SaaS, offering business intelligence solutions, or going into the hardware sector and providing 3D printing services.