Each year brings about tons of new opportunities and new industries that entrepreneurs can capitalize on. 2014 has been just the same as other years creating numerous markets for others to enter.
From my own observations, experiences and knowledge, I have to come notice a lot of growing trends that are here to stay. These new markets have the opportunity to explode, which can make some entrepreneurs very wealthy.
In this article, I share 5 of the best new business ideas for 2014:
1. Wearable Technology
The big companies such as Samsung, Google, Apple, and others have all engaged in a race to put out the best wearable technology in the market. With that said, it seems as if wearable technology really is the future.
Just because the competition in this space involves some massive players doesn’t mean that there isn’t tons of opportunity for entrepreneurs to capitalize on. Many Kickstarter campaigns have found massive success with campaigns on wearable technology over the last few months.
The possibilities with wearable technology are endless. This not only excites consumers, but this should have entrepreneurs jumping for joy. With tons of niches and markets to explore, entrepreneurs can make a KILLING by capitalizing on wearable technology.
2. Cryptocurrency
Another market that gained a lot of traction in 2013 was Cryptocurrency. Bitcoins, Dogecoins, Litecoins, and numerous other virtual currencies exploded on to the scene.
Regardless, the idea of cryptocurrency is becoming extremely popular. Not only that, but this market is just starting to take off. Entrepreneurs don’t necessarily have to create their own currency or buy/sell existing currencies to make money.
Any types of products or services that can ease the pain or solve problems that come with cryptocurrency can do very well. Cryptocurrencies seem to be here to stay so it’s just a matter of creating products/services that create value for others.
3. Apps
Mobile applications have been popularized for the last few years. However, apps are still a growing market and there is a TON of opportunity for entrepreneurs.
Not only that, but new devices such as Google Glass are inviting developers to build new apps for their platform. The barrier to entry is definitely a challenge, but the reward for those who try is worthwhile.
4. Facial Recognition
In Finland, there was a new platform that allowed customers to pay using their faces. It seems as if people are getting lazier and lazier, which is a great thing for those seeking new opportunities.
Facial recognition seems to be a very popular area of emphasis amongst consumer needs. Finding various uses for facial recognition that can make things faster or solve a problem can create a massive opportunity for an entrepreneur willing to journey through that path.
5. 3D Printing
In 2013, we heard a lot about 3D printing. However, I still believe there was just a lot of buzz and hype surrounding it. I still think the market is very untapped leaving tons of opportunity for others to capitalize on.
While very few businesses and homes currently have 3D printers, this trend can change in 2014. With that said, there are tons of opportunities that entrepreneurs can capitalize on knowing these facts.
Conclusion
In this article, I shared 5 of the best new business ideas for 2014. Feel free to share your thoughts on what the big new ideas for 2014 are in the comments section below.
photo credit: Cayusa via photopin cc
