Starting up your own business can be a big risk but can pay off huge if your idea takes off. There’s no way to guarantee a startup will be a success, but starting a business in a hot, in-demand industry may dramatically improve your chances.
Coming up with an idea is just the first step in a long and difficult process of building a successful startup, but you’ve got to start somewhere. Here are seven areas to consider for your startup business.
1. Artificial Intelligence
Obviously if you don’t have a high-level technical background, selecting team members would be an important part of the process. However, the growth and funding potential in the artificial intelligence space makes it a potentially lucrative field.
2. Cybersecurity
Cybersecurity is a field that has been around for years, but the demand for new technology is coming as fast as cybercriminals can create new problems. There’s plenty of money to be made by helping companies protect their most valuable asset — their data.
3. Augmented/Virtual Reality
The days of watching a 2D representation of a movie or video game are numbered. The future of entertainment will allow people to be fully immersed in the story, and AR and VR technology is the ticket to that future.
4. App Development
Developing apps is a relatively easy, relatively low-cost venture. However, creating and marketing a successful app that will make real money is extremely difficult due to the massive amounts of competition. A good idea helps.
5. Search Engine Optimization
There are thousands of companies whose success or failure hinges on their ability to get on the first page of Google’s search results. Companies that can figure out new ways to climb to the top of search engine results could hold a tremendous value.
6. Chatbots
Until artificial intelligence can truly bridge the gap between man and machine, companies will increasingly rely on programs called chatbots for their online customer service needs. These chatbots simulate conversations with other humans via a chat interface, and Gartner expectsmore than 85 percent of customer service interactions will no longer involve a human by 2020.
7. Data Analytics
As the world becomes more and more connected, companies will be generating…
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