Connect with us

Entrepreneur Stories

8 Best  Business Ideas To Start In 2020 

Avatar

Published

on

8 Best  Business Ideas To Start In 2020 


GUEST POST BY LILY BROOKS

Since I was a kid, I always wanted to become rich.  Not in the sense that I live a fulfilled and contented life, but in the financially independent kind of way.  I didn’t grow up poor by any means but I do know people who are rich and to my young impressionable mind, I associated being rich with being able to do whatever you want.

Ten years after completing my degree and entering the workforce, I’ve started several side businesses; some have closed while others continue to be profitable.  Here are a few of them.

  • eCommerce store

Because I work in tech, it’s pretty obvious that I would dabble with online entrepreneurship, which I did.  I started a company selling Japanese made watches. I didn’t have to raise a big capital since I mainly sold my products on shopping platforms like Shopify, 3dcart and Volusion.  I also offered my products on social media. It was a success for a while until the competition started saturating the market and I had to cease operations three years ago.

 

  • Real Estate Agent

As soon as I completed my degree and got hired at a company, I set about becoming a real estate agent.  Depending on the country you reside in, the requirement may vary. In my case, I had to take a short program and then pass an examination to become licensed.  The industry is very competitive but if networking and sales talk is your forte, you’re bound to succeed.

 

  • Content Writer

I also did my fair share of writing content.  I mainly did this in college during my free periods to earn extra cash.  What is great about content writing is you can work virtually anywhere– you set your hours and learn about varied topics, like how to start a spy shop.  The downside, the pay isn’t that great, you will be forced to write on topics you do not really care about, and you will need to do a lot of research and write fast.

 

  • Catering Business

Now, this is one business I haven’t really started but soon will.  I did my research already and many caterers experience huge profits when done right.  Catering is a great side business for people who love to cook. I’m not a great cook myself but my husband is.  Therefore we both agreed l we will try running a catering business, first starting small and slowly growing it.

 

  • Affiliate Marketing

 

This is another side business that I ventured into, a couple of years ago when I was a new hire in my company and had a lot of free time.  After work, I would work on being an affiliate marketer concentrating on blogging since I had a background in writing back when I used to be a content writer.  The job is not too demanding and there is no need for you to be tech savvy. It is also a very low risk and you can work from home or anywhere else.

 

  • Web Development

I saved my longest side business for last.  I work in tech and have therefore extensive knowledge about computers and their processes.  What I like about this field is its growth opportunities which are still high. For my side business, I freelance as a web developer and designer for small businesses who want to transition online.  Most of my customers are friends and family and although I could make a lot more money out of it, I maintain a lower price since I enjoy the process so much and I get to help the people I know.

Other side businesses you can start includes:

 

  • Phone Case Business

Everyone needs a phone case to protect their very expensive smartphones from damage.  This is one reason why phone cases are the top selling phone accessories in the market.  Go for catchy designs or the ones with interesting artworks and funny quotes.

 

  • Virtual Assistant

If you have strong organizational skills, you can succeed as a virtual assistant.  They are in high demand for big corporations and freelancers. It is also a great way to meet influential people from various fields.  You can work anywhere in the world while building your professional career.

So those are the top 6 side business ideas I’ve done in my life which you should also consider starting.  Most, if not all of those listed above are relatively low risk and don’t require a huge capital which makes them perfect as another income stream for you.

 

Guest Post Author Bio:

Lily Brooks is an ardent blogger and frequent traveler who writes about home improvement, travel, and the latest trends in emerging technologies. She is currently working with EyeSpySupply, the leading spy shop, which offers a wide range of surveillance equipment and vehicle tracking devices.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Articles

Six Innovations By Elon Musk

Avatar

Published

on

Six Innovations By Elon Musk

Elon Musk is perhaps the boldest business leader, thinker and entrepreneur of this generation.  Elon Musk dabbled in multiple ventures over the years and most of them might seem like they are straight out of a storybook.  Elon Musk’s perseverance to achieve his dreams have paid off and he now owns several highly successful companies.  Elon’s ambitions are bold as he is determined to send humans to Mars, offer highly subsidised or free internet to the world and develop the world’s fastest mode of transportation with his ventures.  

We give you six innovations conceived by Elon Musk which prove he is a true visionary.

1) Tesla

Tesla is a car manufacturing firm which mainly focuses on cars which run on electricity powered by batteries.  The company name Tesla, is a tribute to Nikola Tesla who was an electrical engineer.  Elon Musk’s Tesla pioneered the concept that electric cars can look and feel like premium cars as well as powering their vehicles with powerful artificial intelligence which lets its drivers to sit back and relax while the autopilot does the driving.  Tesla cars are only sold online as Elon Musk believes a traditional dealership will have conflict of interests while selling electric vehicles.  Tesla is the first automaker that sells cars directly to consumers while the rest use independently owned dealerships.

2) SpaceX

Space X is perhaps the most ambitious undertaking by Elon Musk as he believes colonising Mars is the future of humankind.  SpaceX is also short for space exploration and has drastically reduced the costs of undertaking space missions as Elon Musk figured out a way to reuse the rockets.  Unlike most rockets, which are expendable launch systems, since the introduction of the Full Thrust version, Space X’s Falcon 9 is partially reusable, with the first stage capable of re entering the atmosphere and landing vertically after separating from the second stage.  This feat was achieved for the first time by SpaceX in December 2015.  A 2011 NASA report “estimated that it would have cost the agency about US $ 4 billion to develop a rocket like the Falcon 9 booster based upon NASA’s traditional contracting processes while “a more ‘commercial development’ approach might have allowed the agency to pay only US $ 1.7 billion (sic.)”

3) Hyperloop

Hyperloop aims to be the provider of the fastest mode of transportation on the planet.  Hyperloop is a sealed tube or system of tubes with low air pressure through which a pod may travel substantially free of air resistance or friction.  The Hyperloop could convey people or objects at airline or hypersonic speeds while being very energy efficient. In aerodynamics, a hypersonic speed is one that greatly exceeds the speed of sound, often stated as starting at speeds of Mach 5 and above.  Mach 1 is the speed of sound which is 1234 kmph.  The Hyperloop Genesis paper conceived of a hyperloop system that would propel passengers along the 350-mile (560 km) route at a speed of 760 mph (1,200 km/h), allowing for a travel time of 35 minutes, which is considerably faster than current rail or air travel times.

ALSO READ: Five Interesting Facts About Elon Musk’s SpaceX 

4)  Starlink

Starlink is a satellite constellation being constructed by SpaceX  to provide satellite Internet access.  The constellation will consist of thousands of mass produced small satellites in low Earth orbit (LEO,) working in combination with ground transceivers.  SpaceX intends to provide satellite internet connectivity to underdeveloped areas of the planet, as well as provide competitively priced service to urban areas.   

5) Boring company

The Boring Company is a tunnel services company and Elon Musk cited difficulty with Los Angeles traffic and limitations with the current two dimensional transportation network as his early inspiration for the project.  Musk claims the tunnel trip will take five minutes, compared to above ground driving which takes 45 minutes in normal traffic to go from LAX to Westwood.  These trips were planned to be implemented by placing a car on an electric sled and traveling at 120 miles per hour (200 km/h) through tunnels.

6) Neuralink

Neuralink is a neurotechnology company founded by Elon Musk for developing implantable brain machine interfaces.  Neuralink announced it was working on a “sewing machine like” device capable of implanting very thin (4 to 6 μm in width) threads into the brain, and demonstrated a system that read information from a lab rat via 1,500 electrodes.  The company is centered on creating devices that can be implanted in the human brain, with the eventual purpose of helping human beings merge with software and keep pace with advancements in artificial intelligence.  These enhancements could improve memory or allow more direct interfacing with computing devices at broadband speeds.

While some of the companies and their vision might seem far fetched, Elon Musk is adamant on making them a reality.  Elon Musk and SpaceX successfully made history as being the first private organization to transport astronauts to the International Space Station (ISS.)  The entire operation from launch to docking at the ISS has been live streamed by the National Aeronautics and Space Administration (NASA) and was watched by millions from all over the world.  Neuralink’s progress was displayed recently as a pig named Gertrude had a chip implanted in her brain which tracked her neural activity and was publicly displayed to everyone.  

We at Startup Stories hope Elon Musk will continue to push the boundaries of science and imagination for as long as he can and make an indelible impact on humanity.

Continue Reading

Articles

TVS Motor Story : A True Blue Indian Motorbike Company

Avatar

Published

on

TVS Motor Story : A True Blue Indian Motorbike Company

India as a nation has a preference for choosing a two wheeler over a four wheeler.  It is quite easy to see the Indian roads packed with motorcycles and mopeds zipping away and snaking their way through the notorious Indian traffic.  Almost every household has some form of a two wheeler at home which they use for travelling with whole families .  The entire two wheeler market segment is flooded with gearless mopeds like Activa, Jupiter and budget geared vehicles like Passion, Splendor and Victor.  There is a vehicle for every economic requirement in India.  

The Indian market is majorly ruled by Honda, Bajaj and TVS all of which have a plethora of models available for the market.  Let us take a look at the story of TVS Motors, a true Indian company which makes vehicles for the Indian sensibilities.

Beginnings:

T.V. Sundaram Iyengar began with Madurai’s first bus service in 1911 and founded T.V.S., a company in the transportation business with a large fleet of trucks and buses under the name of Southern Roadways.   This is also the first company to run buses in Delhi and with their large number of buses, TVS quickly began to rule the transportation market in Delhi.  After the death of Sundaram Iyenger in 1955, his sons took over the business.

Sundaram Clayton:

In 1962, Sundaram Clayton came into existence.  This company was a collaboration of the Sundaram company and Clayton Dewandre Holdings of the United Kingdom.  Sundaram Clayton started making products like motors, bike brakes, compressors and other automotive products.  For about a decade, the company was engaged in the same work , they were manufacturing automotive products.

In 1978, they set up a plant to manufacture mopeds at Hosur, Tamil Nadu.  They began with TVS50 which was also India’s first two seater moped.  Sundaram Clayton then entered into a collaboration with Japan’s Suzuki Limited as a joint venture in 1987.  TVS and Suzuki shared a one year long relationship that was aimed at technology transfer for design and manufacture of two wheelers specifically for the Indian market.  TVS Suzuki introduced many models such as the Suzuki Supra, Suzuki Samurai, Suzuki Shogun and Suzuki Shaolin.

After a fruitful relationship, the collaboration finally came to an end in 2001 following which TVS signed a moratorium for 30 months during which Suzuki promised not to enter the Indian market with competing two wheelers.  TVS was then renamed to TVS motors.

Recent Past

TVS Motors entered the racing bike category with the Apache model and the budget and mileage friendly segment with the Jupiter series.  In early 2015, TVS Racing became the first Indian factory team to take part in the Dakar Rally, the world’s longest and most dangerous rally. TVS Racing partnered with the French motorcycle manufacturer Sherco, and named the team Sherco TVS Rally Factory Team.

In 2016 TVS started manufacturing the BMW G310R, a model co developed with BMW Motorrad after their strategic partnership in April 2013. 

TVS Motors also has a list of firsts in India which is to be the first to indigenously produce a four stroke motorcycle.  The list of firsts from the firm include: India’s first 2 seater moped – TVS 50, India’s first Digital Ignition with the TVS Champ, India’s first fully indigenous motorcycle – Victor, and the first Indian company to launch ABS in a motorcycle with the Apache RTR Series.

TVS Motors is currently the third largest motorcycle company in India with a revenue of Rs. 20,000 crores.  With a strong history and a proven track record for innovation and its commitment to making the lives of Indians better, TVS Motors will only look forward to releasing more models into the market and become the market leader in India.

 

Continue Reading

Entrepreneur Stories

Vodafone Idea Gets Rebranded To Vi

Avatar

Published

on

Vodafone Idea Gets Rebranded To Vi

Vodafone Idea is one of India’s largest telecommunications companies along with Bharti Airtel and Reliance Jio.  Vodafone Idea has a market share of 23% in India and Reliance Jio leads the market with a share of 34%.  Indian telecom companies have been hurt badly by the Supreme Court verdict on the Adjusted Gross Revenues (AGR) case.  The AGR is a fee sharing mechanism between the telcos and the government who shifted to the ‘revenue-sharing fee’ model in 1999, from the ‘fixed license fee’ model.  In this course, telcos are supposed to share a percentage of their AGR with the government.  

Following the Supreme Court verdict which came against the favour of telcos, the verdict directs the telcos to pay the due payments to the government over a course of ten years.  The total amount due as per the Department of Telecom’s submission to the Supreme Court is Rs. 119,292 crores.  Out of its total dues of Rs. 43,980 crores, Bharti Airtel has paid Rs. 18,004 crores so far while Rs. 25,976 crores are still remaining.  Vodafone Idea’s dues are the highest at Rs. 58,254 crores, of which the company has paid Rs. 6,354 crores and the balance due is Rs. 51,400 crores.

This has hurt both Bharti Airtel and Vodafone Idea as they have to raise enough capital to pay the dues.  Failure to pay the dues means the telcos are looking at bankruptcy.  According to a report by Jefferies Equity Research, dated September 1st, Vodafone Idea could require up to ₹18,800 crores by the end of March 2023.  To do so, it will need to raise money since its existing operating profit is less than annual payments that will be due.  Vodafone Idea on Friday said it will raise up to ₹ 25,000 crores.  The fundraising will be through the sale of shares or non convertible debentures (NCDs.)  Both routes of fundraising have a limit of ₹ 15,000 crores each. The proposed fundraising is subject to regulatory and shareholders approvals.  Vodafone Idea will take up the proposal at its annual general meeting on 30 September.

Vodafone Idea has therefore announced a rebranding as part of its fundraising efforts and going forward Vodafone Idea will be called Vi.  This is because Idea is now integrated with Vodafone.  Launching the new brand, Ravinder Takkar, Managing Director and Chief Executive Officer of Vodafone Idea Limited, said “the brand integration not only marks the completion of the largest telecom merger in the world but also sets us on our future journey to offer world class digital experiences to one billion indians on our strong 4G network.  VIL is now leaner and agile and the deployment of many principles of 5G architecture has helped us transform into a future-fit, digital network for the changing customer needs (sic.)”

The future of Vi is still uncertain and more updates will be revealed in the following weeks and a new updated tariff plan will also be rolled out.  Vi looks to earn back its customers and get back to being a strong market leader which it once was and only time will tell what is in store for Vi and its customers.

 

Continue Reading
Advertisement

Recent Posts

Advertisement