Business ideas are getting more creative now, and there is a massive opportunity for businesses to gain an edge online. I mentioned a few business ideas like online event planning, freelance tax software, stock trading and investing online resource portals, online teaching classes, and online fashion in my last post.
Most of these business ideas are online, require you to put in online services (like online events, rentals, listings, teaching classes, and fashion and online teaching courses) or online trading or investing (like investing in stocks, online trading platforms, online brokerage accounts and buying and selling online commodities).
Some business ideas like online investment banking and investing may also have some services that require physical locations (like providing online business loans, stock trading, trading stocks, or investing in funds). These business ideas are worth exploring in the future. They require a substantial amount of money up front to create and launch a new online business to gain an edge over the existing business competitors.
In the next couple of years, we will see new online businesses that provide some of the above business ideas in online versions that are only online. Such online versions of existing business ideas are likely to grow in the next five years, with billions of dollars in expected revenues by 2021.
New Online Businesses in the Future:
- Online Investment Banking
The idea of investing online is gaining traction. Investors have started using online tools like online brokers, online trading platforms, and online portfolios to support. The current investment services offered online are helpful but are limited to online trading platforms.
The good news is that we will see some great investment options by 2021, and investing in online stock trading, online funds, and online investment banking will get more competitive. The industry is expected to see billions of dollars in revenues from 2016 onwards.
- Online Digital Platform For Investing
Companies like Airbnb, Instagram, and Uber have already shown us a glimpse of online investment services. Will disrupt those ideas with different online investment services designed for different types of investors, different types of investors’ needs. And investors who like to invest on their mobile phones. Investors who want to invest online and like to buy and sell online are likely to prefer online investment platforms. That will help them buy and sell stocks, invest in online trading, invest in online funds. Or invest in online services.
Accordingly, Businesses that provide online stock trading, online investment banking. And online services for buying and selling stock will be popular in the next couple of years.
Companies like Instinet, Virtu Financial, Markit, Sun Trading. And Interactive Brokers are likely to grow their business revenues and profits in the next couple of years.
Online retailers have had to invest in customer service and in introducing more knowledgeable employees.
Today’s retail landscape is dominated by websites with heavy marketing leverage and constant personal interaction with shoppers. A 2018 report from GoResume highlighted some of the top companies using online customer service.
People Shop Online: It is a new resource for students, parents, millennials, gen-Xers. And seniors to find the clothing, accessories, shoes, beauty, and other products they’re looking for. The company offers over 350,000 products from more than 900 brands.
A resume is a full-service platform that allows students to apply for jobs, internships, post-grad programs, study abroad programs. And however, more right from their phone.
HelloFresh offers more than 40 percent off their weekly groceries on Tuesdays. Likewise, Customers get a $50 bonus code to use toward meals at full price.
- Sunshine Kids Club
Sunshine Kids Club offers a safety-focused virtual daycare for parents who want to work full-time and don’t need a nanny or babysitter. In addition to the daycare, parents can opt for online preschool.