It is a struggle to develop a business idea, let alone a successful and profitable idea. The struggle is real. That does not mean we give up or do not push ourselves to build a business. Ever wonder what would happen if the founders of Apple or Microsoft or any other such super successful tech companies would have given up?
We are currently battling a pandemic, something that we did not foresee at all! Over this period, there have been significant changes in lifestyles, the workings of the world, and basic functioning. We have found ourselves getting used to a “new normal.” Be it working from home for a year and counting, no going to school/university, stepping out of the house only to buy essential items, or in an emergency, practicing social distancing and less social interaction. Who would have thought we would be living in such times while we were all welcoming the year 2020 with high expectations and joy? This pandemic has brought about a revolution in the digital and tech space. If we were moving towards digitalization at the speed of 10 in 2019, we are currently moving at 90. From big corporates to schools to most basic tasks shifting to a digital format, we are turning to an entirely technologically driven and operated world.
It is an appropriate time to develop your tech business idea and bring it to fruition. Please tune in to the need of the hour, understand the current scenario and build a sustainable business. It does not make sense to cater to the present and have long-term goals and plans to keep the business growing and reaping benefits. The world as we know has changed, the internet will dominate in the post-covid times, and the majority of the businesses are shifting to the online space.
Let us ponder upon a few ideas that are relevant in the present time and have longevity:
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Platforms For Online Courses or Education Technology
The world came to a standstill when COVID-19 hit. In the age of this deadly pandemic, everything seemed to have stopped. Shut indoors, we live to our own devices, and the onus for our safety and that of our loved ones falls on us. Schools and all educational set-ups have wholly shifted the classes online. We are currently combating times where all educational institutes want to provide their students the best online learning experience. A lot of educational apps and software are in the developmental process to initiate a premium learning experience. Investors are more receptive to make investments in EdTech startups and companies.
Remote Working Tech
There were just a handful of companies and businesses running on the remote-working model before COVID-19. As we entered into a lockdown and then realized the true impact of this virus, businesses switched to the remote working model. WFH or “Work from Home” became real. Many companies have their employees working remotely, which brings the need for software or an app that will make remote-working easier. The RPA or Remote Process Automation helps the remote working model and benefits the firms and their employees.
E-Commerce
The pandemic has made people go out less. Visting a mall, a restaurant, a store, or any other public place has become a risk. The basics of our existence have changed. Everything has become one click away. We have the comfort of ordering food, buying groceries, purchasing furniture to home linens, shopping within a budget, or doing luxury shopping all by just sitting in front of your desktop. The E-commerce market has seen a vast upsurge. Many luxury brands and products shied away from the online market actively release their new collections digitally. It is an excellent time to invest or start an e-commerce business. You can either cater to the customers directly or build a system that aids these digital businesses.
Health Care Services
In the past year, the medical industry has seen a high rise in tech services dependency. The market for virtual medical consultations has opened up. The hospitals can provide primary health care services via telephonic calls with medical professionals. A majority of investors are willing to put their money in this sector as they see an uprise in profits and growth.
Web Design and Social Media
The emerging digitalization has made business owners and corporates aware of social media’s power. Every business set-up needs a professional-looking website and social media page. It enables them to widen their reach to a larger audience. The social media business is growing every year, and without an expert web designer, and social media manager, companies cannot flourish in the digital space. Web designing is a cumulative collection of graphic designing, copywriting, UX design, SEO, and interface designing. Investing in and building a web design and social media design and management company is a profitable move.
Influencer Marketing
The impact of social media is tremendous. Be it spreading awareness about a cause, being vocal about prevalent issues, and most importantly, marketing and advertising a product or a business! Businesses focus on launching successful and attractive ad campaigns and promotional activities on various digital platforms like Instagram, Facebook, Twitter, and many more. The above has also given a push to the trend of influencer marketing. It is where brands and companies tie-up with prominent personalities or social media stars who have a strong presence on social media and many followers. The firms pay them to endorse their products which will eventually boost their sales and reach a wider audience.
Some various changes and developments are rapidly engulfing our world. It is up to us to grow and be at par with these changes. There is a need for better technical support to empower businesses and make some chores and activities more accessible. The pandemic times have taught us to be more receptive. Many tech investors are seeing this as an excellent time to invest their money and reap profits. Be smart and aware of all the developments before investing money or starting a tech business in the present time.
