Which Business makes the most Money ? Is it the recently trending topics like Data Analytics a.k.a. Data Science or the IOT ( Internet of Things ) ? Or maybe, it is something related to the more mysteriously named Artificial Intelligence ( A.I. ). Today we are going to find out :-
1. What Business makes the most money ?
2. How much money do you need to start a Business ?
3. How to Raise Money for Business ?
Without wasting any more words, let me take you through this step-by-step informational journey.
1. Which Business makes the most Money ( 2018 ) ?
I talk no Bullshit. This is a no B.S. blog. You might see huge number of people screaming about Artificial Intelligence, Machine Learning, Smart Home Automation and Big Data.
But, Today I will tell you the truth. All the buzz surrounding these words are not false. They are just not appropriate for the majority of the Wannabe Entrepreneurs of the World.
Why ? Because in my Opinion, the time for these technologies have not come yet. For mass acceptance, you need some time. And, people are ready to stand through the tough time expecting that one day the world would be ready to accept their products.
Bullshit! Tell me the truth. How many people in this world have enough economic stability to wait till 35 years of age struggling towards a single Product for the market to be ready ?
My approach towards life is totally based on Data. Here’s the Latest Data from SageWorks ( 2017 ) about the Most Profitable Industries of 2017.
The List Goes something like this :-
1. Accounting, Tax Preparation, Bookkeeping, and Payroll Services :- 18.4% Profit Margin
2. Lessors of Real Estate :- 17.9% Profit Margin
3. Legal Services :- 17.4% Profit Margin
4. Management of Companies and Enterprises :- 16.0% Profit Margin
5. Activities related to Real Estate :- 14.9% Profit Margin
6. Offices of Dentists :- 14.8% Profit Margin
7. Offices of Real Estate Agents and Brokers :- 14.3% Profit Margin
8. Nonmetallic Mineral Mining and Quarrying :- 13.2% Profit Margin
9. Offices of other health practitioners :- 13.0% Profit Margin
10. Religious Organizations :- 12.4% Profit Margin
11. Medical and Diagnostic Laboratories :- 12.1% Profit Margin
12. Land Subdivision :- 12.1% Profit Margin
13. Automotive Equipment Rental and Leasing :- 12.0% Profit Margin
14. Warehousing and Storage :- 11.0% Profit Margin
15. Death Care Services :- 10.8% Profit Margin
16. Other Professional, Technical and Scientific Services :- 10.6% Profit Margin
17. Management, Scientific and Technical Consultant Services :- 10.3% Profit Margin
18. Specialized Design Services :- 10.2% Profit Margin
19. Other schools and instruction :- 9.8% Profit Margin
20. Support Activities for Road Transportation :- 9.7% Profit Margin
That’s it! Any Business with an aligned industry from the top 20 industries of 2017 mentioned above will have the opportunity to earn maximum Profit Margin. In other words, Demand and Supply is not perfectly aligned in these sectors and thus there is an opportunity for you to have your amount of the market share.
2. How much money do you need to start a Business ?
Truthfully, you don’t need any Money to start a Business. If you don’t believe me, make sure to checkout my previous Article + Video
about Starting a Business with NO MONEY in 2018
with 10 Handpicked and Self-tested framework to Earn Money.
But, here we are not talking about starting any business. We are talking about starting a business in 2018 which are in alignment with the top 20 most profitable industry of 2017. Mind it, that the Data for the same is available to everyone. You have Competition from every level of Entrepreneurs. A college student who wants to start a Side-Hustle. As well as from the 50+ Years aged Businessman who has 80+ Years of Experience about Starting a thriving Business.
To fight these people and stand out from the crowd, you must have MONEY. And, if you’re looking for Best Business to start with no Money, read my last article or watch my Video ( in Hindi )
1. Article :- http://dibakarbala.com/starting-a-business-with-no-money/
2. Video :-
Raising Money for a Business is not Easy. Discussing this Topic Alone should take 1 individual Article with 30 mins of Video Content.
But, today I will try to solve the basic Misconceptions in your mind about Raising funds for Business.
Yes, it is difficult. But, not as daunting as it might seem. In my Opinion, the first lesson one should have as an Entrepreneur is to be SHAMELESS.
Connect with Successfull Entrepreneurs in your Industry shamelessly. Ask them about their way of raising funds, about their Investors and Vice – Chancellors.
Also, joining Angel Investor Networks like Angel.co not only helps you to raise fund, but also helps you to get an idea of how should you pitch and the best practices of Successfully funded Businesses using the Explore Business feature of the Platform.
Recently, ICOs are also a growing trend for Blockchain based start-ups to crowdfund their Business at their initial stage. But make sure you comply with all the legalities related to Cryptocurrency and Indian Policies of RBI.
Join Entrepreneurs Community on Facebook and Online. Example :- Delhi Start-ups ( Facebook ) , Bangalore Start-ups ( Facebook ) and Rodinhood ( Online Community ).
Communities are the lifeblood of Entrepreneurs during times of distress. Keep hustling and you will never be let down by the Community.
Also, a word of caution. Don’t spam any of these networks. Spamming is simply Unprofessional. Don’t expect to become a Billionaire without being Decent and Professional. Start believing that you are one of them, and you are halfway through.
If you loved this article, make sure to stay in touch. Subscribe to my YouTube channel. I will share with you how yo drive huge amount of Traffic to your Website in a few days. Till then, Ciao