Without a fair and probably significant money is reaped from the business. This is the main reason why every non-leader thinks of them, but most stumble upon this thought.
Most likely, things get stuck there for the following reasons:
1. It does not identify compelling business ideas;
2. I can’t get out of my comfort zone:
3. They don’t get over their fear of investing.
The cause of the “blockage” is the motive! Only well-motivated people decide to enter the “arena”, that is, take the next step, without which everything will remain dreams or future projects, and we find the following quotes useful here:
“How many things have I lost for fear of not losing Paulo Coelho”
“If you do what you’ve always done, you’ll get what you always got.” Tony Robbins
Business ideas exist, which is why we also make a good choice, so all you have to do is step out of your comfort zone and conquer your fear of investing, and to help you recommend the book From Idea to Money by Napoleon Hill. Napoleon Hill was an American author of motivational books, and From Ideas to Money is one of the bestsellers of all time.
This article presents a selection of 4 compelling business ideas:
1. IT business
It is the companies that have made profits even under the pandemic crisis, being real pillars of economic growth. Not only did they make a profit, but they also surpassed earlier (2019). It has long-term stability in the market, being a real trend in recent years.
There are many such businesses that were “born” in a studio apartment and in which a developer initially worked with a laptop, businesses that very quickly reached impressive sales figures.
If we check the available numbers, we find the following:
- In 2019, Romania had 18,183 active companies in this field, with specific CAEN codes, respectively 6201 and 6202, and in 2020 their number increased to 19809, which means that in 2020 1629 such companies were created;
- In 2019, the turnover of these companies was 3.9 billion lei, and in 2020 4.7 billion lei;
- These companies accommodate all graduates, and there is a lot of competition between them and the employees, being the largest employers in the market in 2020.
- It is the kind of business that you can start with with little money and that you can reach the highest levels of success.
2. Online business
Everything can be reported online! We believe that those who do not benefit from this environment have not reached their full potential. The Internet represents the greatest opportunity of our time to develop businesses.
It was said that there are two types of marketplaces, online and not others. This is how important the Internet environment is for any kind of business.
All the steps to be taken to set up a company in Romania can be done exclusively online!
Now that we have highlighted the importance of this environment, let’s see what business you can do and whether it can be profitable.
The business activities of the online environment are: online stores, online marketing agencies, web design agencies, etc. The advantages of these types of businesses are:
- relatively low start-up costs;
- Do not rely on street traffic or shopping center traffic, so you will not have rental costs, which are not small;
- You can address more customers than you can by opening a physical store, and they can be from the whole province, the entire country, or several countries.
In the Internet environment, three niches can be distinguished from the point of view of the degree of profitability:
- IT & C – such as Emag online store, which generated 1 billion euros in revenue, becoming the company with the highest revenue in Romania;
- Fashion – includes clothing, shoes, makeup and personal care products;
- Electrical and household appliances.
3. Real estate business
Even Romanian billionaire Ion Ceriac estimates that the real estate field represents one of the most promising investments in the future:
There will always be inflation and cost of living. In the past 32 years I have not seen any stagnation in prices. But Europe will not have prices as cheap as in Romania. Prices here are still low. Until now. That’s right, compared to what they were 3-4 years ago, it’s outrageous how much they have grown.
As for investments, I think for another 20 years, real estate in Romania could be a very promising investment,” said Ion Sriak, according to Wall Street.
It is good to invest in properties that have not yet reached maturity, being properties related to future possibilities, such as: properties under construction which are being combined into larger projects offering different facilities, swimming pool, spa, etc.
A trend has been created with real estate investments in Dubai, with many Romanians buying houses or apartments there. In good projects, like the ones mentioned above, the money invested can double within a year.
4. Technology, robotics, or the Internet of Things
One of the major challenges facing companies globally is improving the way they operate, according to a study by PwC Human Resources Technology, with 74% of respondents wanting to increase their investment in technology.
The aforementioned study also stated that the use of augmented reality and virtual reality in the development of products and services will bring an additional $359.4 billion to global GDP by 2030 according to the PwC study “The Vision Believes.” They will enable organizations to collaborate and work together in virtual environments, saving time and money.
Looks promising, doesn’t it? What looked like 10 years ago in the realm of action or fantasy films, is taking shape today. Artificial intelligence means that software can learn and adapt to certain situations. Artificial intelligence is more present than we can imagine, as it is embedded in almost all software.
We do not mean business ideas that deal with technology development or artificial intelligence itself, but rather we mean companies that integrate these technologies and make them more profitable.
Financial education is a good fit for a Saturday morning coffee read.
What can it help you? First, understand how the wealthy got to this position and how they got there, and one of the best examples we can give is that they didn’t have a job or jobs that paid a monthly salary.