10 Ideas To Make You Money In 2010...
compiled from various sources by Chris Farrell
When building an online business - a lot of people make the mistake of finding (what they believe to be) a popular product first. And then trying to find a market for it. This process should be reversed - find a MARKET first - that spends money - and THEN introduce related products. Now we are here in 2010 - here are 10 markets to watch this year. Ten markets that are thriving - even in this crazy economy. Is there something here that lights a fire under you? Please note the original form of this article appeared in Entrepreneur Magazine - the December 2009 issue. I have added some of my own thoughts and ideas to it.
Baby Boomers. Pretty much EVERY business associated with aging - is booming. You name it - catered tea parties - computer assistance - senior dating sites. Businesses aimed at retiring boomers is, well, booming. According to the US Bureau of Labor Statistics - the aging services industry (as it is known) - makes up three of the top 10 fastest growing employment growth. (I even mentionned this in my video course 21 Days To Success as you may have heard). Do you have a skill that may be of interest to Boomers? Could you create a simple service - product - that boomers would be interested in? In 20 years - seniors will comprise 20% of the US population. Many entrepreneurs are currently creating 'silver' services as they are aware of this. Could you?
Going Green.
Clean and green - is the new kid on the block right now. The stimulus plan (here in the US) poured billions into renewable energy.For the first time EVER - Venture Capitalists (these are guys that invest and fund projects) invested MORE into Green Industries - than they did in the last ten year favorite - web and tech products. If the money being thrown around is any indication - this is just the tip of the (melting) iceberg (!) The Recession. Who would have thought - the recession - is big business. Here's an AMAZING statistic. In 2009 - almost 10% of those that gained employment during the Recession - did it by starting their OWN business (Note from Chris -- I can personally vouch for this as well - I launched this site on March 28 2009). In 2008 - this figure was 2.7% Sunwest Bank - a bank that caters to entrepreneurs - upped it's assets by $150 million in 2009. Half of TODAY'S Fortune 500 companies - were started in a recession. Ten years from now - there will be a slew of companies that we will point to and say they were started in the 2009 recession. A ton of people want to know about how to start a business - working from home - affordable tax planning etc etc. Virtual Assistants is a rapidly growing industry too. Is this working-from-home market something you could tap into? Do you have skills in this area you could create your own product about? It's a booming market - and will only increase in 2010 as more want to work for themselves. Trading Down. Did you know - we spend on average $57 a day (taking into account everything - bills - mortgage - food etc etc). This is down 30% from this time last year. 30% !! Wall-Mart (a 'cheaper' store here in the US) had an increase of 5% this year. Neiman-Marcus (an 'expensive' store here in the US) have losses of 14.8%
Resale shops are booming. So are exchange shops.
Now is not the time to start a luxury dog wash service -- but identifying an opportunity in the 'trading down' market could be very lucrative.Life Support. Despite trading down -- more people than ever are paying professionals to do domestic chores. Taking care of the kids - checking in on mom - coaching the Sunday football league - cleaning the house. This is something of a surprise considering the recession - but the figures are there. Revenue for driving schools in up 4% - so is sports coaching. How about a tutoring business? Could you tap into the demand of this in your local area? Education. Here's something I never thought I'd say -- I miss school! And it seems I am not the only one. Whereas when I was 17 I could not wait to leave school and get into the world -- now I can't stop studying and educating myself with new skills. And it would appear - I am by no means alone. Huge numbers of people are training themselves in new skills. The statistics say it's more than likely the job you are doing now you will not be doing in 5 years. Think about that for a second... A job for life? That doesn't exist anymore. More people than ever are doing complete U-turns - and trying a completely brand new occupation/business. Computer classes are up 95%! 95%!!! Whereas Internet Marketing has yet to really take off big time in colleges and schools - mark my words - IT WILL!!
Could you learn a few skills (as you are doing) and get proficient enough to teach them?You only need to get good at ONE thing - and do it well. An example for you - how about Keywords? Study them - master them - understand them - and you have a skill that people will pay you good money to know. Health and Wellness. Are you in the losing weight market? Did you know in January Weight Watchers have a 99% jump in hits on their website. January is the time to market your weight website. And what do you think the No 1 growing industry in the US was - from 2004 to 2009? The web? Nope. Green issues? Guess again. Ready for the answer... ....Home care. This means that the Preventive Care market is HUGE. Are you interested in this area - health - alternative therapies - healing - reiki? Booze. We're still drinking like fish - only now we are doing it at home with cheaper booze. The alcoholic beverage industry has been growing steadily for the past three years. Make you own booze? Home brewing kits? It's a booming market ladies and gentlemen. Hic. Local, Local, Local. Demand is exploding for locally grown and made products. Here's something we didn't think we'd see - but mom and pop stores are enjoying a revival. Farmers Markets are HUGE (at least they are here in the US). Over 5000 take place every weekend. Nearly 60% of supermarket shoppers - say they also use Farmers Markets. We are all becoming socially conscious. PETS.Nobel Laureate Albert Schweitzer once said - 'There are two means of refuge from the misery of life: music and cats'. Maybe he was onto something. The recession may have demolished the manufacturing and financial services - but the pet industry?
Totally fine!
We may be skimping on ourselves - but not on Alan, George, Lea and Mr Stevens! (these four guys are my and my wife's dogs!) (yes we have four...)
So - there you go. Is your mind swimming with ideas? Or at least - a bit of food for thought? The reason I wanted to compile this for you -- is because as a business or future business owner - it is important you get used to thinking differently - and training yourself to see opportunities. Once you start doing this - you will never stop. It's an amazing feeling. Something with 'click' in your head -- and you will start looking at everything differently. Problems no longer will exist - they will become opportunities. Richard Branson famously once spent a morning hitting redial on a phone - to try and get through to a airplane operator - but kept getting the busy tone. But he didn't get frustrated - he saw an opportunity. And Virgin Atlantic was born. Ok - so that's an extreme example - but you get my point. I am already seeing many members slowly but surely building their web business -
getting sign ups and making money.
Almost every day there is another success story posted on the forum. Sure it takes work - but anything worth achieving does. But you are by no means alone! I and everyone else here - are with you. So go and grab a coffee - and start thinking about this year. 2010 is going to be a very exciting year - if you choose it to be.... Oh, by the way. If you haven't yet seen my
21 Days To Success
video course (that I mention above) - please click here now.
*** Thanks to Entrepreneur Magazine for allowing me to reprint this edited version of their article. The full version can be seen in the December 2009 issue***
Customer Comments
Most Helpful Customer Comments
Chris,
I would say you are absolutely correct! I say this because I see many people around me changing careers, holding on to the savings they have left, looking for the best deal on just about anything you can think of. example, I personally have started buying everything online except gas and groceries. Why? I can get what I want, or need cheaper than having to go out and shop for it, spend time, and waste gas. So, I see Im getting even to be more of a neccessity than before.
Your article is an excellent brain teaser. It stimulates the thinking materials.
As you have often mentioned, it is all about mindset. In December I met two business people with different mindsets. One owns a very upscale pet grooming shop and the other owns a resale clothing store. I was amazed at what I learned from these two business owners.
The upscale pet grooming shop is booming! Her business has increased 20% in the past four months. The resale clothing store is closing. Her business is down 50% and sliding. Yes, the two ladies have different mindsets.
I am glad that your gathering in London was successful. The first of many.
Chris Thank You for these Excellent suggestions ! I will take some time and have a look at what products or services or trends that I like and run with it. I have A good understanding or mindset on how everything works because you help me get their .
Thank you Chris
Robert (ace2352)
"If you Choose It to Be..." (last line of Chris's article)
SO TRUE!~ We are responsible for our lives and we choose everything!~ We choose - WHAT WE DO EVERYDAY! So everyone - reading this - you choose what you do! You choose whether or not you "take action". Its all you!~ Make your Life and Make it Great!~
2010 - is the year that everyone - I MEAN EVERYONE! - has the opportunity to make a solid income online!~
With Gratitude,
Daniel
Hi Chris,
I am glad to be in this membership site.
These kind of insightful information can turn one's life.
Thanks.
Cheers
Guna
Thank you Chris! This is great information and it's good for us to start thinking about, and seeking new opportunities now, before heading into the new year.
Janise
We are a society that's extremely health conscious, especially as we grow older so it makes sense that Health and Wellness is a big area to focus on, and especially for Boomers. Thanks for listing these 'opportunities', Chris. It's easy to overlook them and not see the possibilities. I'll start making notes to see how I can take advantage of at least two of the markets you listed.
Yvonne
Hi Chris and everyone else!
Every time I see one of these posts hit the Home Page, it instantly brings a smile to my face. Not only did the niches resonate with my interests and intents, they also provide additional ideas on how to approach those niches.
As always, thank you and I am anxiously awaiting both the 33 Day Challenge and traffic month coming in the New Year!
Happy Holidays all ...
Jim Hickey
I started my Virtual Assistant Bussiness at the start of the recession. Boy am I glad I did. Now I am making money online and working from home for two years January 1st. After Joining your site I began making money another way...
I know I am going to be tapping into a few of these markets in the next year so that i am one of those people that are making money and loving what I do.
As always, brimming with inspration and knowledge, that in it's self is a great article, or a self help report for a list building giveaway, not to mention it a great basic blueprint for an awesome ebook. The gears are turning, ideas upon ideas, upon ideas, upon ideas. AWESOME
Something to think about.......but, must say, I loved those spoilt dogs though. Gee, can I be one of your dogs? Having said that, must tell you that I cook chicken for my 2 dogs EVERY DAY. They hate pellets, but looove their chicken.
Thanks Chris.
Regards
Irma
Chris,
Here's a couple more moneymakers to consider:
1.) With the credit market at a standstill, people who would normally be house hunting are staying put and upgrading their existing homes. They are remodeling their kitchens, bathrooms and entertainment centers instead of moving. Big buck niches, all!
2.) Try what you sell - Many members have set up a digi-cam site, but how many have ever actually uploaded photos to Istock, or any of the other sites? Here are some actual, current results from someone who does this TO MAKE MONEY!
Dreamstime - $1245.42 - 1131 photos
Shutterstock - $833.32 - 1090 photos
Bigstockphoto - $134.32 - 1253 photos
123RF - $76.53 - 1245 photos
Istock - $234.32 - 698 photos
Fotolia - $1444.32 - 1160 photos
That is from November, 2009 - $3968.23 !!!
Maybe this is an example of "practice what you preach...
These numbers can be verified at: http://www.dphotojournal.com/sell-photos-online/
Once again, Chris, you have surprised us with such a wonderful and helpful article which instructs as well as inspires. Thank you very much!
I also think you look great with your Santa hat.
Wow - this alone is worth hundreds if not thousands of dollars.
Love this site Chris!!!
David
Chris,
You are once again SOOOO far ahead of the game. Excellent information...and you already have my head spinning with new ideas. Thank you...once again I'll say it...You are the BEST!
-Diana
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