4 of the Best Business Ideas for 2019 and 2020!
You have a small business in 2019. Now what? Last year, you may have been juggling hats to meet your company’s goals and provide your services to clients. In your small business, you are CEO, sales director, and brand manager all at once. Or your staff may be wearing different hats for you because it would be wiser than investing in more people. You may be looking to attract more customers and clients with what limited resources you have. What should you invest in? Modern times, more than ever, pave the way to innovation. It is every entrepreneur’s duty to follow. These are the best business ideas for your small company this 2019.
Fulfilling new customers on Amazon
Your company has products that people within your area love. You thought about them when starting up your business. You are sure you are on the right track with the products you are selling because of loyal and steady customers.
Why not take a step forward with online business ideas?
Last year saw a big business trend in Amazon’s Fulfillment. Amazon, as the world’s largest online retail platform, is one of the best business ideas and investments. But even with its name, Amazon gives a lot of opportunities for small businesses that recognize the best online business ideas for company growth.
It works when you ship your products to Amazon’s Fulfillment Centers. They will store, pick, package and deliver the products to your customers for you. With Amazon, your products are visible to millions of users around the world, and they wait for those customers at Amazon Fulfillment Centers.
Here is why investing in the Amazon Fulfillment Center is one of the best online business ideas you will make in 2019:
Despite Amazon being a huge company, you won’t be getting headaches as a seller through the Fulfillment. Amazon — as mentioned — stores, packs, ships, returns and takes queries by customers for you. Therefore you can focus on your business. While you sit in your office, as usual, you are making more money than you had when you were doing the same thing last year. Amazon is itself one of the greatest online business ideas because it lets you track that money online.
Trust in Amazon
People trust in Amazon, so should you. People seeing your product will associate it with the trust they have for the online retailing platform. Venturing into Fulfillment by Amazon is one of the best online business ideas because your product is not defective, fake, or different from how it was presented online in your customers’ eyes. People trust Amazon that way.
Pay as you go
There are no start-up fees, minimum units, and additional subscription fees since you only pay for the services you use. Fulfillment by Amazon is not only one of the good online business ideas but also one of the best investments in money.
Not bad for a small business, is it? Now your focus is thinking about the customers you will capture as far as Canada and Mexico. Go back to when you started your business and reflect what your customers want and need. This time, you get to assess them on a wider geographical level. Fulfillment is one of the best online business ideas especially in the rise of online retailing platforms.
Outsourcing is another one of the best business ideas for 2019. While you want to save, this is a far better investment. Quantity in people working here is equal to quality. By outsourcing work to someone with the expertise to get the job done, you and the rest of your team have less burden. You could then focus on things only you could perform in a more thorough manner and think about other best business ideas you can do.
Marketing and Advertising
A common mistake small companies do when confronted with a PR crisis or challenge is to invest less in marketing and advertising. In fact, it should be the first agenda and is one of the best business ideas to make sure your company does not jump ship.
By shying away from marketing and advertising, your company does not grow due to the number of your customers not growing either. Also, by staying stuck to traditional advertising, you miss the millions of customers who live in the digital era this 2019. Traditional advertising does not cut it as much as online business ideas do.
One of the best online business ideas this 2019 is to utilize user reviews for your products. This may be a double-edged sword. On one hand, user reviews attract customers to your product because of what others have to say. 95 percent of people read customer reviews before deciding the product is a good buy. On another, they might step back because of negative reviews or low ratings. 90 percent of people decide not to buy a product perceived negatively.
Getting a business loan
Another double-edged sword, which is also one of the best business ideas, is acquiring a business loan. There is more to it than how small businesses see loans as an amount of money with interest cost.
The good news here is that most small businesses are eligible under the SBA Express Loan. How do you know whether you qualify?
SBA Express Loan requirements
- Your business operates for profit
- Your business is US-based
- Your business has been operating for two years.
- Your business has proof it is able to pay the loan.
- Your business must have already financed through alternative means.
- Your business must not have past debts or delinquencies to the government.
- Your business must not be government-owned.
- Your business must not be political, sexual, or illegal.
- Your business must not be a life insurance company or a consumer and marketing cooperative.
- And of course, your business must fall under the small business size standards, usually determined in the number of employees and average annual receipts.
It is a matter of being smart with how you use the business loan, but the best business ideas mentioned earlier should be good investments for it. Through a business loan, you now have the funds to invest in Fulfillment by Amazon, to get new customers, to outsource work, and to advertise your products using online business ideas. These best business ideas are good investments in 2019, which you will reap in 2020 and beyond.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.