Business Venture Ideas

by Oneil Williams

Before launching a new business venture, carefully review both the risks and rewards. New entrepreneurs often become so blinded by the prospect of success that they fail to examine the drawbacks connected with a business concept. While all new business ventures come with some risks, minimizing as many of these as possible should be a top priority. Incorporate your business, purchase insurance where necessary and create contracts to protect yourself from liability.

Market analysis firm IMS Research predicts that by 2016, more than 80 percent of all wireless-enabled consumer medical devices will be used by consumers to monitor their health. With clear demand for these devices, a startup that can aid in meeting this demand should be off to a great start. Medical consumer monitoring devices that are safe, practical, easy-to-use and affordable would appear to have good prospects of success.

Companies such as Orbitz, Travelocity, Expedia and Priceline have made a name for themselves in the consumer travel market. Whether your aim is to offer a more luxurious type of travel service or give travelers information on the best deals or accommodations, opportunities abound for new businesses to enter and take off in this market space. The key is to come up with a concept that is not only marketable but novel within this market. Couch-surfing, the practice of temporarily lodging with a stranger at no cost, is just one example of a novel travel concept that became very successful.

Demand for energy-efficient homes built with sustainable materials is on the rise. The National Home Builders Association reported a rise from 2 percent to 17 percent in homes built to meet energy-efficient standards between 2005 and 2011. A real estate venture focused on energy-efficient building construction or remodeling with materials that are environmentally friendly would appear to have the potential to be very successful.

  • GreenBiz Group: Venture Capital Firm Bets Big on Sustainability


Category: Business ideas

Similar articles: