Introduction: Business’s in COVID-19 Pandemic
The dynamics of the business and the corporate world took a 360-degree turn due to the COVID-19 pandemic. We saw even the most profitable businesses going into rags in the past year. The uncertainty and the lockdowns just did not work out for an of the businesses and were eventually shut down.
However, we also saw many rags turning into riches. The year has worked out for the ones who were opportunist and were able to adapt to the changes quickly or jump on the bandwagon of the businesses were working.
COVID-19 has changed the demand and supply ratio. We saw a lot of fluctuations in the buying patterns of the customers. A lot of individuals stopped buying random clothes and handbags etc. and invested in buying home cleaning products more or things like that. The go-to business idea that one usually had was to open a restaurant but given the covid, these restaurants are taking a massive hit. So while opening or investing in a restaurant was a good idea previously, it is not good for today. Given the covid is still here to stay, with no idea when we would get rid of it.
In this article, we have listed down a few business ideas that you might want to try and invest in this year. But before that, Read on the following features of running a business today, you need to keep in mind.
Running a Business Today?
If you are running a business today, keep the following points in mind:
- Businesses had to work on online models in 2020, and all the ideas that you might have for this year also will need to work on an online business model.
- Do your research right about a business idea, before going all in.
- Choose a business that you are passionate about. Something that you are interested in because it’s not always about money. The more passionate you are, the more likely your business will be successful.
- Do the target market research and see if there is a demand for the product you are providing.
So For example, if you have an idea to Build a translation company in Dubai, you need to find out how many people or companies are looking for translation services in Dubai?, how many companies are already offering these services in Dubai?, Can you provide your services efficiently through an online business model, etc?
These are a few basic questions that you might need to address in your business plan before you take the big leap. Other than that, we will further suggest to you a few business ideas that are deemed to be profitable in the year 2021.
5 Profitable Small Business Ideas to Try In 2021
1. Dropshipping (Selling Online):
This business has seen a considerable rise in the year 2020 and the trend is still going forward in the year 2021. If you do not know what dropshipping is, let us tell you that dropshipping is a risk-free business. In this business, you get online orders and pass them on to the seller who ships them to the customer. You get the profit.
The benefit of starting this business is that you do not require a lot of investment, or warehousing needs. It is fairly easy and simple. In simple words, it is referred to as an online selling business. And during COVID-19, this business saw a major surge in profits.
So if you are someone who has a good customer base and has the ability to get online orders, this is something you can start doing professionally. A lot of influencers who have a good customer base are also involved in the dropshipping business.
2. Online Teaching:
The pandemic has essentially forced everyone to sit down at their homes and this has given them a lot of free time. And a lot of people made efforts to stay productive during the lockdowns, which made them look for online certification and learning.
A lot of individuals given this demand for learning online started offering their teaching services online. A lot of courses were offered online, for example, codlings, animations, business certifications, HR training sessions, Painting classes, etc.
If you have the skill and you have the ability to share that knowledge online, this is the best way you can utilize your skills and earn money, A lot of students were seen making the best of this free time and getting online extracurricular courses to make their applications to college seem stronger.
There has been a surge in the demand for online teaching, given the covid, even regular classes in schools and colleges are given online. So if you have it in you and you are passionate about it, also if you are tech-savvy in terms of giving education online, this might be a great business idea for you.
3. Content Writer or Copy Writer:
If you are good with writing and you know your way around your words, starting a business of writing, be it content or copywriting will work out well for you. The digital marketing industry saw a surge In demand for writers as now the strategies require the writer to deliver quality and attention-grabbing articles.
Writers can take on projects for writings blogs, info graphics, web content, press release, etc. The opportunities for writers are huge. However, only quality content is something that will take your business to the top.
A lot of freelancers have joined Fiverr and Up work and are offering content and copywriting services and getting paid. It has become a huge industry that has a good prospect in the coming years and is probably the best time for you to start a business with it if this is your cup of tea.
4. Transcription and Translation Services:
If you are good at writing and transcribing, you can think about professionally start offering these services. Transcription services only require you to have good listening and writing skills. A lot of translation companies are offering these services in the packaged form of translation, transcribing, and voice-over services.
Given that businesses are operating online and a lot of people are spending most of the time on their computers and mobile phones, a lot of businesses have international and foreign customers. This is why transcription and translation services are very much in demand today.
The internet has made things global and easy for people across the world to become your customers and those who do not want to lose a good customer base would get transcription and translation services.
Many YouTubers are looking for these services, we are well aware of transcriptions that we see on our Netflix or amazon prime shows, etc. So if you are good with translation and transcribing, it is a good idea to officially start this business. It has a bright future, with little investment required.
5. Digital Marketing:
The industry of digital marketing has become huge. And by huge we mean, it has become a billion-dollar industry. The market has become so huge, that a few elements of the digital industry like content marketing have also become an independent industry in itself.
A lot of businesses are dependent on the digital marketer to regulate the marketing aspect of their business. Only multinational and big corporations have in-house digital marketing departments. While a lot of businesses outsource their marketing to digital marketing companies. And there has been a huge demand for digital marketers in the year 2020 due to covid online business models.
A digital marketer is supposed to form online marketing strategies for businesses that will encompass just the right model to achieve the goal. It requires a combination of social media marketing strategies, Search Engine optimization techniques, Search Engine Marketing, content marketing, etc.
The strategies are endless and a good digital marketer would know how to use the best ones for maximum benefits and required goals. So if you know your watt around these concepts and help a business achieve its marketing goals.
This is a very profitable business idea, which again requires a minimum investment on your part. All you need is a computer and your digital marketing skills. A lot of marketers are selling their services on online platforms
Conclusion
The list of the business idea mentioned above are profitable and have a future in 2021. Other than the one we have mentioned above you can also try starting a business in lawn care services, sanitization services, Graphic designing. App development services, real estate agent, printing company, or maybe start an online food delivery service company. The options are endless.
No matter what business you invest in or decide to start, one thing you need to keep in mind is whatever business you are choosing to try, make sure you can take it online. Given the pandemic situation, no one knows when the business operations can be resumed in pre-covid times.
Sheikh Adil is a keynote speaker on social media strategy, LinkedIn marketing & social media marketing trainer, MediaHicon digital marketing author, and SEO consultant for global organizations.
