| Want
to compare your small business concept or existing business
to others in the SOHO business world? Here are the Technology
Top Ten Business
Ideas of 2004:
1. E-Learning:
Learning electronically through the Internet, represents
a continued strong business opportunity for development
of technology & learning content. IDC predicts e-learning
in the corporate environment to grow at 37% compounded
yearly till 2006. The opportunity for small business
is to specialize in delivering highly focused content.
For example, take copywriting consultant, Joe Vitale,
who earned $68,000 by offering an email-based 5-week
copywriting course.
2. Contractor
Referral Service: Homeowners are challenged
to find a reliable and trusted service for home repairs.
New home contractor referral services have sprung up
to fill this growing need. One such service is; Angie's
List, which has grown to 10,000 service companies, serving
over 100,000 members. Become a trusted, unbiased source
for contractor & home repair referrals in your hometown
and build a much-needed third-party service company.
3. On-Site
Computer Service: With the proliferation of
computers in homes and small businesses, combined with
increasing complexity, the market for computer services
has grown to over 300 billion with no national chain.
Business opportunities exist in serving business and
consumer clients on-site with their repair, upgrade
and networking needs.
4. Direct
Selling: Direct selling and multi-level marketing
are hot in times of economic uncertainty. With rising
unemployment and a need for supplemental income, recruiting
new members is easier in hard times. Direct sales exceed
30 billion in 2003.
5. Online
Gaming: How hot is the online gaming market?
DFC Intelligence, forecasts that 114 million people
worldwide are expected to be playing online games by
the year 2006. Past subscription based online games
have tended to be fantasy oriented games that appeal
to a predominately male audience.
6. Management
Consulting: The field of management consulting
continues it's 16th year of growth. The field consists
of big firms to small boutique shops and independent
consultants. Although there are 75,000 independent consultants
in the U.S., future prospects look strong mainly because
consulting is driven by globalization, deregulation,
fast technological change, and the current outsourcing
trend. Typical fees range from $100 per hour, to top
consultants commanding fees of $500 per hour. Building
a management consulting business can be industry specific
(pharmaceuticals or retail) or function specific (waste
management or leadership training). Carefully select
your sector. According to Association of Management
Consulting Firms (AMCF), pharmaceutical consulting grew
31.6%, while systems development consulting dropped
23.9%.
7. Search
Engine Optimization Business: Search engines
remain the top Internet tool for shoppers to research
purchases. The Association of National Advertisers states,
75% of U.S. big companies use search engine positioning.
For large and small companies optimizing their web pages
to provide top listing in search engines such as, Google,
represents a task to be outsourced to professionals.
The search engine optimization (SEO) field is still
in its infancy. The skills required to succeed in this
business opportunity, as rated by SeoPros.org are: understanding
reciprocal linking, ability to develop keywords, html
knowledge, and strong language skills.
8. Public
Relations Consultant: In an over communicated,
over advertised society, public relations (PR) helps
a company break through the clutter and gain credibility
with it's market. Authors, Al & Laura Ries of "The
Fall of Advertising & the Rise of PR", see
the change in marketing where public relations should
come first, and advertising second. Freelance PR consulting
offers varied projects and a high level of creativity.
The average freelancer makes about $85,000 per year,
reports the Council of Public Relations Firms.
9. Home
Inspection: With the boom in real estate, the
demand for home inspectors is high. Home inspectors
offer real estate buyers an in-depth, unbiased, inspection
of a home for purchase. To take advantage of this business
opportunity, one needs training and certification. Remember,
the real estate market runs in boom and bust cycles,
so consider offering regular maintenance inspection
contracts to survive a slow down when the hot real estate
market cools.
10. Information
Professional: Searching the Internet for information
is often an exercise in frustration. Companies of all
sizes need timely and accurate information to make intelligent
business decisions. This is where the information professional
or researcher is needed. Information researchers access
the Internet & online databases, using advanced
search techniques beyond the scope of most average Internet
users.Fees typically range from $75 to $200 per hour.
Professionals specializing in areas such as, biotech
or pharmaceuticals command higher fees. Invest in a
good computer system and high speed Internet connection
for entry into this growing field. The bigger challenge
is building a strong client base for regular business.
For more information, visit the Association of Independent
Information Professionals (AIIP).Selecting a new business
to start is the most trying task for new entrepreneurs.
Consider your passions, skills, and experience, before
embarking on your small business venture.
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