As the world is becoming a global village with the advents of innovative technologies and modern inventions, the kind and mode of business has also changed. We have seen various creative ideas that have become successful business plans in the past few years, which has made it difficult to figure out which might create a positive global impact in 2020.
The businesses that can positively impact the world must not only earn profit but should also be great for the long-term. They might be launched by a purpose-driven entrepreneur or a group of friends sharing a common business interest. In past few years, the world has seen many visionary business plans, and some of these have the potential to beat the conventional business model of the world.
Here is a list of businesses that have the potential to shift business-as-we-know-it in 2020.
1. Lead Generation for Small Businesses
According to Hubspot’s “Ultimate List of Marketing Statistics,” 65 percent of businesses reported that generating leads and traffic is an immense marketing challenge for them. This emphasizes the scope of lead generation in the future and its global impact.
This is the first and foremost type of business that has been trending for quite some time now — and has much more scope in 2020. Lead generation is crucial for small businesses, specifically as it allows their websites to create organic traffic and get more prospects. Hence, their websites can get a high number of sales and increased conversion rates.
2. Vertical Farming
As the world population is ever-increasing, so is the need for food; therefore, it requires more crops to be yielded in smaller land areas. With innovative technology, farming can be done in urban areas also, and vertical farming is one such way to yield crops. It is the practice of producing food in vertical layers or inclined surfaces such as a used warehouse or even shipping container.
Vertical farming incorporates the creation of a sustainable urban environment that reassures good health for people who will live there, clean air, less use of water, and new employment options in urban areas. Thus, it is a brilliant opportunity that will further grow in the coming years to integrate sustainability in small business.
3. Solar Power
The sun is an infinite and free-of-cost source of energy that can be used to generate power not only for commercial use but also for domestic purposes. Once it is installed at a house or factory premises, then there is much less worry of paying electricity bills. It is a safe alternative of energy, which can replace current fossil fuels like gas and coil.
The world is getting more concerned about global warming, and governments of various countries are taking initiatives to quit carbon-emitting sources of energy. Hence, the business of solar power and the installation of solar panels is getting more attention from domestic and commercial users.
After the successful venture of Uber and other car booking applications, similar business models have been developed to cater to the needs of private transportation. Car-sharing is one such business that operates on a comparable basis as conventional car companies.
This business has already taken off, and several car-sharing businesses have launched their services in major cities around the world. The response from users is encouraging, as it suits their need for transportation without owning a car. Thus, it is one such business that is expected to reach heights and expand enormously in 2020.
5. Amazon FBA
According to BigCommerce statistics, FBA (fulfillment by Amazon) gives sellers a 30 to 50 percent increase in sales. This stat reflects the growth rate when joining the platform of the marketplace. Amazon gets visited by 197 million people every month; that’s more than the population of Russia.
Doing business on Amazon FBA is quite simple. A person or company can choose what product they want to sell. They can find the supplier, order the product, package, and deliver; Amazon provides all services in their fulfillment center.
There was a time when robots were seen in cartoons or movies doing household or factory work, but now they have become a reality and are playing a vital role in various fields. With the advent of artificial intelligence, the concept of robotics has reached new levels of efficiency. These innovative machines can now work and behave like humans.
This modern advancement has helped in developing innovative programs, and more companies are taking advantage of the benefits offered by robotics and its immense growth opportunities. This gives rise to endless applications for robotics in the coming years that can impact the world in 2020.