During the inauspicious year of 2020, people from around the world experienced an all-time high of job insecurity, reduced incomes and layoffs. It seems we all modified the way we work, communicate, and care for ourselves and loved ones in just one year. This shift has been extremely difficult for many organisations, large and small, that weren’t able to adapt easily to the new measures and the changing needs of their customers.
However, there are some industries for whom the change has been incredibly positive, making significant profit during this period and, no doubt, these will continue to grow in the post-pandemic world. At the same time, these sectors have helped support and grow others, in particular those that facilitate remote working such CRM software and video conferencing.
To bring hope and inspiration for start-ups in 2021, we focus on a few of those industries that are positively thriving.
If you’re thinking of taking the plunge, there’s plenty to consider when starting a business so do read up on all the available advice. And while we are happy to throw out some pointers in the trends, don’t under-estimate the amount of work involved. We wish you the very best of luck!
Health and Wellness Tech
There no surprise that this year has been big for medical science and the healthcare sector, but the real opportunity for start-ups has been in medical tech. The pandemic has forced the pace of digital transformation in the healthcare sector; medical workers and tech experts have been working alongside each other to find ways to deliver better healthcare.
There have been some very exciting start-ups, but one of the most promising innovations has been the use of telemedicine, enabling remote medical assistance.
Basically, telemedicine is overcoming physical and geographical barriers by using digital communications between patients and care providers. While initially seen as an essential to provide remote care during the pandemic, it is has reduced healthcare costs and can literally save lives as you don’t need to mingle with people who may be infected.
Telemedicine is not the only area of healthcare that is thriving. A wide range of apps have hit the ground running this year, often coming about through exploring the needs of the industry and a dose of nobility fired by the desire the help during these testing times.
For example, educational applications are proving interesting for doctors and other medical staff, letting them store and present significant studies and information in real-time. Another noteworthy area in the healthcare industry is the production of chatbots and AI-enabled symptom checkers, advanced reminder apps, and healthy lifestyle apps.
If you are considering a business idea in this sector, it’s important to get your communication right. If you want people to invest in your product you will need to inspire trust so it will be essential to create a suitable website for your healthcare business.
Food Delivery with a Twist
In the past year, the demand for food delivery services has soared. As people have needed to stay home, there has been a shift from dining out to ordering online more frequently. Taking into account that many new customers started using delivery services over this time, it is thought that the convenience and relatively low cost have created higher demand for the future, with experts thinking this trend will continue when the pandemic is over.
The coronavirus crisis has given a significant push to ghost kitchens (restaurants where the cooking is done but they are not serving food) and food delivery platforms. Also, as people become more aware of global environmental challenges, demand for biodiversity in the food and drink sector is growing significantly.
Catering vans have been a huge deal during 2020, with many restaurants investing in them. In the US, according to the Food Truck Operator, the sector has outgrown the restaurant industry, 5.5% to 4.3% in the last 12 months.
All in all, the catering industry remains a good starting point for small investors, and exploring the trends around ghost kitchens, delivery services and biodiversity could well bring more opportunity.
Online Learning Platforms
The Internet has revolutionised the way we learn and has definitely helped students around the world to continue their studies during the pandemic. However, again, it is clear this industry will not stop developing even once the pandemic is over, with remote learning becoming the future of education.
Online platforms are offering the possibility for people to work and study at a comfortable pace, without the commute. There is also the advantage of a wide selection of skills and subjects available through online portals for learning. And the best part is that these platforms are very affordable and available globally.
If you are planning to invest in online learning and education, we suggest focusing on a specific niche and integrating other formats in your offering, for example, blogs, forums and discussions.
Check out how some of the best online course platforms look, and test them to see what is missing or what you could do better. A good focus is on personalised experience, and try to give your users accessible knowledge.
Whatever your product or service, selling online is becoming a better option every year. The business of online sales has been thriving in 2020 and is likely to continue developing as we go into 2021, especially as consumers start shifting towards digital communication channels, rather than personal communication.
In fact, research shows that online shopping is becoming more popular, and the e-retail industry is surpassing 3.5 trillion U.S. dollars worldwide. However, simply running an e-commerce website might not be enough. You need to connect with your audience and find the right people to engage with your brand.
Social media channels are particularly handy for this, as you can easily tap into their interests and engage them in meaningful conversations. While Facebook and Instagram are go-to channels for B2C communication, LinkedIn is usually mentioned as the best B2B platform. Many brands and individuals use LinkedIn to promote their services to other businesses, create connections, and build partnerships.
Using LinkedIn for sales is by no means a new approach, but the ways in which you can engage your customers and drive traffic to your website are more advanced now than they have ever been. You can use LinkedIn’s advanced search to narrow down your target audience, target people who engage with your posts, no matter your niche.
Even before the pandemic, businesses of different niches were looking for ways to expand and brand their businesses in the digital world with the demand for website and social media content in big demand. According to Hubspot, 70% of marketers are now actively investing in content marketing.
The crucial thing to know when starting a business around digital marketing and content writing is finding a specific way to tell a story that can be useful for users and understandable to the search engines. If you have previously worked around these niches, you can invest in building a team of writers that can deliver premium content and content strategies.
Maybe the travel, wedding and entertainment sectors wouldn’t be the greatest priority right now, but if you can focus on wellness, psychology, digital marketing and finance you’ll find a market. It’s a good idea to explore which niches are in most demand and start from there. The costs for starting out in this kind of business are low so long as you have a computer, a good internet connection, and a solid knowledge of grammar.
Explainer Video Industry
When we talk about the businesses that are not simply surviving but thriving during an unprecedented time, we can’t forget the explainer video business.
The craze of online videos makes explainers, or “how to” videos, a powerful tool for most businesses to reach today’s potential customers. The beauty of explainer videos is the simplicity and straightforwardness, making the viewers feel like they are not watching typical ads. It also has the power to assure customers that products are well produced and easy to use.
Suppose you have a solid understanding of the basic elements of animations, and have a strong will to help other businesses get their message across. In which case, the explainer video business is worth looking into.
The good news is that we couldn’t possibly put all the ideas in one article, and that really gives us hope for the prosperity of our global society. The main thing connecting all these industries and thriving businesses is the possibility of adaptation, understanding customer’s needs, and a focus on sustainability, health, and time well spent.
If you haven’t found anything interesting for your talents just yet, we suggest exploring the gaming industry, streaming platform services, pharmaceuticals, cycling, and the DIY niche. Also, investing in creating a more human and personalised approach in your preferred business area shouldn’t be forgotten. Sometimes the experience of buying a product or service is more important than the product or service itself.