Interested in business and technology, I follow these industries closely
Tech businesses have been on a boom for over a decade now, so it is no surprise that it has not only made some of the richest men on the planet but many other billionaires and millionaires as well.
But since the inception of computers and the internet, mankind has made a lot of market breakthroughs and in today's date and time it seems like there can not be any other market to make some space for yourself. This creates a question, which market in the tech industry is going to be good enough for the budding entrepreneurs to try and get some success in.
The following will be the list of businesses (in descending order) that have a high risk but a high reward factor and can impact the early stages of their specific markets themselves.
With most of the things coming to the cloud these days, games have also been shifting to the clouds. Whether it is Google's Stadia or Nvidia's GeForce now, both platforms have been o. a rush to produce the greatest titles on their platform and get the highest share of this infant market as quickly as possible.
The market is still at its early stage and there are not many players in the field, at this time a new entrance would also stand a chance to have a space of its own between the behemoths. An attractive subscription model and a modest collection of games can work wonders.
It is not far from the imagination that such an endeavor requires a huge amount of capital, but it cannot be said that it will not be high-yielding. Due to the pandemic, there has been an ever-increasing number of gamers and many of them are going to be first-timers as well, this leaves a potential for someone to tap into an unknown amount of userbase and can be beneficial. there is always an option for vertically growing the company as well, as we are going to discuss next.
2.Cloud Desktop/Workspace Provider.
Once you own a huge server farm, you tend to easily provide an unfathomable amount of vertically integrated services that have no limits.
Providing a cloud-based desktop and workspaces business is one such thing.
These are computers, but running over the internet and at someone else's server. There are various uses of this kind of service, especially for software developers. It can be used for various software tests where the developers need a specific type of operating system like Windows, Android, Ios, or Linux to test their software on different environments. It can also be used for gaming or working with high power to render videos on 4k it can be used to anything a normal person might do on their computers but instead of using their computer for the work which might even require an upgrade at times, they do it on your server emulating the operating system which they need. This market is still in its infancy and is a niche but once it starts to gain some traction there is profit to be made.
At a time where giants like google, apple, and many others are providing their cloud storage solutions to an all-time high, after providing them for free for years. It could seem like a lost cause to enter into this business, but the right price and good branding, and some ethics can work wonders.
In times where data breaches are a common thing and loss of data is treated as a normal thing, some people want a solid solution to these kinds of things. There are thousands of cases where data breaches have ruined people's lives. Solutions that respect user privacy and are very important, some brands have made their fortune around this idea but do not deliver a single bit towards the initiative. It fits the bill of a very nicely vertically integrated business as well and some branding and a good track record can make wonders for someone who wants to get into this kind of a business and create a space for themselves.
Carrying on with the expensive business idea, crypto mining can be one of the arenas to make money. In today’s time, cryptocurrencies are on all the hype and there is a staggering amount of highly valued crypto. Many early adopters are millionaires and billionaires in today's time.
Crypto is forecasted to grow into newer heights and they are here to stay. Not being an early adopter is not something to be worried about but playing the cards right and knowing on which currency to give time to is the thing of importance. Some cryptos are limited in number and there are ones that have a higher valuation. There are all sorts of categories to choose from and the only thing that matters the most here is the proper knowledge of where to put your money on. These digital, decentralized currencies are here to stay and the market will keep on growing. Knowing where to invest and how to invest your resources is the key factor in this business.
Getting into this field requires a good knowledge about both trading and currencies as well. This job/business is something that has to be treated not only as an online company but also as an offline brick-and-mortar company. The investment is not as huge as that of buying all the servers or computer parts for a mining operation but the investment is required for both traders and IT specialists. The financial resources should be spent on the human workforce and technical aspects in a balance.
This business also tends to make a huge amount of money from the crypto side and from getting the cut out of the profits made for the clients, which is what makes it lucrative. This business has also made a lot of hype and billionaires over its short period of existence and there is a lot of space for a lot of new players to jump in.
6.Online Media Company
At this point, we all know about what Youtube is and how it functions. We also know that youtube pays its content creators and many of them have not only made a decent living out of it but have also made huge online media empires that are cashing in millions if not billions.
For older and younger people alike, we all know who Logan Paul is or who Philip DeFranco is and how today they have made a huge social media following and a huge media empire and presence. This also means that people are watching the kind of content they are putting out which is translating into money for them and no matter whatever endeavor they get into, it is churning out money for them making them millionaires.
Many YouTubers of yesteryears have now made either a full-time living doing this or have ventured into different types of businesses using their social media following. Some have made media companies, some have made apparel businesses, and many more. The ability to make your living in different ventures becomes more certain when you have a loyal number of followers on social media ready to buy anything which you sell. A small number of loyal subscribers can also translate into big money if you play your cards right.
But this business is based on trust, once you step into this realm you are for the people, by the people, and of the people. This is one of the most important things that one should remember. If you expect your followers to be loyal to you, that also means that they also expect you not to put them into some kind of a scam or suggest some kind of a weird scheme. Otherwise, this will break the subscribers' trust, and since your whole business runs because of the people, it can also start to die due to unethical and morally wrong deeds.
During the pandemic, where businesses have shifted to work from home kind of a cultural phenomenon, pushing the world almost decades ahead. More and more businesses are trying to cut corners and trying to find a cheaper solution to save more money. In other words, for example, instead of hiring a person for a full-time data entry job, companies are shifting towards freelancers, since freelancers are much cheaper to hire on a time to time basis and they don't require any kind of extra benefits like insurances and holidays, etc.
Some people have shifted to freelancing as a full-time job and are leaving their conventional jobs as this is making a good amount of cash for them and is also providing them the ability to work from wherever they want. Though this job requires some dedication and the ability to multitask at first because you're not only acting as an employee to a company, instead you're acting as an employee for several companies and also acting as a business owner at the same time.
By now, we all know what it means, but for all the millennials it is the equivalent of being a YouTuber but in the writing space. By being a blogger, you become a boss for yourself and it is up to you to look after your business, which may include looking after your blog (website) as well as looking after its marketing and also making quality content.
It is just like youtube and as you keep growing your blog, you can also hire a few people to make a team to look after and manage your blog ultimately making it a full-fledged business. The only difference between YouTube and a Blog is that you don't need to look after your youtube and sometimes may not need to invest in the technical side of things, whereas in blogs you may have to look after it.
There are many examples of bloggers who have been successful in transitioning themselves to huge media conglomerates, one of the biggest and the best-known examples being Mashable and eHow.
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.
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