The Best Business Start-Up Ideas for 2020

Have you made the big decision that 2020 will be the year that you create your own start-up business? Have you been thinking about it for quite some time and now you’re ready to take that big jump into the world of entrepreneurship? Whether you plan on the business being your main source of income and your full-time job, or you’re thinking more along the lines of a side business that can act as supplemental income, the key to success is often the business idea itself. 

Startup battle

You want to be sure that you’re opening a business that offers a product or service that you can deliver in a big way, and that is in demand. With that said, it can be very helpful to spend a little time researching current market and consumer trends, identifying the areas that are the most in-demand at the moment and in the future. To help you come up with that perfect start-up idea, here’s a look at some of the buzz-worthy ideas for 2020.

Graphic Design

If you are the type that is highly creative, detail-oriented, and is a whiz with computer graphic programs, then starting your own graphic design company could be ideal. This is a job that always seems to be in demand, but companies don’t necessarily want to hire on a full-time in-house graphic artist. Instead they often look for freelancers and consultants to do those one-off jobs, or recurring jobs throughout the year.

As a graphic designer, you could be taking on such projects as creating company logos, posters, banners, marketing material, and websites. Obviously, the more skills you can offer your clients, the better for you and your business.

Web Developer

This brings us to the next start-up idea, another freelancing opportunity. Web developers are also in high demand, as just about every business out there is coming to the realization that no matter the size or industry they are in, they need a website. And just like with a graphic designer, companies don’t necessarily want or need a full-time staff member dedicated to this job; instead. they want to find an experienced freelancer that can create a professional and user-friendly site that brings in traffic.

In order to excel with this business idea, you will of course need to be tech-savvy and understand HTML, CSS, Java, and JavaScript. It also helps to have some formal training/education so that you can advertise this information on your business’s page.

Social Media Manager

Here’s a business that didn’t even exist 10 years ago, but today is in great demand. As a social media manager, it will be your job to manage your client’s social media accounts. This includes such accounts as Twitter, Instagram, Facebook, YouTube, and more. It could mean that you are posting daily, interacting with posters on a regular basis, and really helping to build buzz around the client you are representing.

The great thing about this type of business is that you can manage the accounts of various clients at once, allowing you to pick and choose how busy you want to be. Of course, you’ll need to be experienced and well-versed in how to best use the various social network platforms, and a bit of marketing skills can be useful.

Virtual Assistant

This is another career that didn’t exist 10-15 years ago, but today is popping up all over the place. Picture the traditional personal assistant to an executive in an office 20 years ago – now give the position a high-tech makeover, and you’ve got a virtual assistant. As a virtual assistant, you will be working from your own office assisting clients all around the world if you choose. 

Online Retailer

If you’re ready to dip your toes into the world of retail, then an online platform could be the best option. The global ecommerce industry is nothing short of massive, with a spot for just about any and all products. The key is to have a hook, something unique to offer, competitive pricing, excellent customer service, and the ability to fulfil orders quickly and accurately. 

Building an ecommerce store from the ground up can take time and a lot of effort, but in the end, it can also offer huge rewards. The products you decide to sell will help determine just how in-depth the process and systems will be, so it’s wise to do plenty of research before you open the doors to this style of business.

Blogging, Writing, Editing

Then there are the services of a professional writer who can blog and edit. This is the kind of business idea that can be used by various industries in a freelance capacity, so it is able to increase your odds of finding clientele.

Take the Time to Learn About Structuring a Business

As a final note, once you do have that perfect idea for a business start-up, it’s important you take the time to research the various business structures. You want to be sure you’re following all the rules and regulations of your state, while protecting your business and personal interests/assets. 

One of the most common types of businesses to form is an LLC, which is a Limited Liability Company. This will keep your business and personal assets separate, which also means that, should anything go wrong with the business, your personal assets are fine. 

You can research your particular state and how an LLC works. If you live in the state of Texas for example, you want to research how to start in LLC in Texas specifically. You can check out this highly informative blog on the Truic site, howtostartanllc.com, that explores Texas LLC creation and requirements. The site offers a free guide that explores how to protect your business and personal assets, how to make your business run smoothly, how to ensure your company is compliant at all times, and so much more.

Getting Ready to Take the Plunge

So, if you’re getting ready to take the plunge in 2020 and open your own business, these ideas may be exactly what you need to jumpstart your goals.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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