You don’t need years of training and formal education to work in the field ― your creativity and interpersonal skills are what might end up being more crucial.
In this article, we’ll look at some of the most popular new businesses related to IT.
Blockchain
Blockchain remains the most promising business venture in the IT circle. Blockchain is based on numerous encoding methods, making the technology available in different industries: you can find blockchain in finance, law, etc.
Today, multiple startups raise their first funds with ICO or Initial Coin Offering. The price of a new coin depends on the market’s demand and how promising the technology is.
A startup called PlayKey is creating cloud-based streaming. With that technology, anybody with a laptop can play most high-end video games. The cloud distributes the game’s requirements between the computer and a remote server. PlayKey released its currency in 2017 ― users could provide their servers while generating profit in the form of PTK coin.
Advantages:
— Easy to start: blockchain doesn’t require significant investments
— Doesn’t require experience
Disadvantages:
— High risks: ICO and blockchains are all related to cryptocurrency, which is quite volatile. The most popular of them all, Bitcoin, grew to $20 000 back in 2017 only to fall to $7 000 in the following years and then recently rise again to $14 000.
Web development studio
If you have chops for management, you can start your studio to create the Internet in its broadest sense. These days, you won’t find a company without a website; and those who don’t have it probably want it right now. The market cap for website development has been in billions of dollars for a long time. To start, you need a developer plus a designer, and nothing will stop you from there.
Advantages:
— Contractor job: you don’t need to employ people or even own an office. The work, in its entirety, can be done remotely.
— It’s easy: web development isn’t a complicated industry. There are multiple specialists in the sphere readily available for new gigs. They can do the job well or join a team of less competent specialists to improve it.
Disadvantages:
— It’s all in the air: you can’t do things with the website other than interacting or observing it. It is insensible, and for some, can be perceived as ‘less real.’ Many clients think that website construction is easy, and you, as a developer, somehow should do things for less. In reality, your primary resource ― time ― must be appropriately spent and definitely be rewarded as such.
— Competition: web development isn’t a new trend, plus you can learn website building from any free course or YouTube. As a result, there is always someone who could do what you offer, but on different terms.
Robotics
As of today, it does not get more promising than robotics when it comes to future technologies. We see robots fighting the pandemic, and robot surgeons are slowly taking over medicine. Even vacuums are now full-fledged androids.
Most robots for home use and industries are here to stay, and entering the market might be tricky. On the other hand, there is an entire market of service robotics ― and the potential here is limitless. Sure, there might be problems with waiter robots, but when it comes to informing, touring, or guiding people ― they can fulfill those tasks in their entirety.
You might be thinking ― do I have to build a robot from scratch? You probably could ― there are numerous grants and initiatives dedicated to new developments in robotics. But maybe that’s a little bit overwhelming for starters.
A simple alternative would be to purchase a robot and rent it out. Robotics companies will assist you in the process since many robots are already working on the market. You can grow a small-time operation into a distribution network, just contact your robot supplier and discuss the possibility. As far as profits go, robots are rented out for an average of $2000 per each day of work.
Getting a robot and renting it out will make you something more significant than profits ― being a trailblazer is an outstanding accomplishment, especially when it comes to technologies. Be the first to bring a robot to your city, and opportunities will come around sooner rather than later.
Promobot robots remain in demand even after worldwide events. Find out more about their applications on our website.
Advantages:
— Easy to start: You don’t need to know every robot created or even be familiar with them inside out. Most engineers can take care of the robot’s innards, and you could hire them relatively quickly.
— Little investments: a Promobot robot costs less than $20 thousand. An average rental price of a V.4 robot is $2000 per day. Most robot buyers return their investments in less than half a year; for a $20k investment, that is extremely quick.
— Timing: robots are usually rented for events, which mostly take part on weekends. It is possible to make $4 thousand per week and $16 thousand per month. You might spend five other days however you wish ― travel, spend time with family or hobbies.
Disadvantages:
— Seasonality: robot renters thrive in a period from September to May: most exhibits, events, and conferences happen in that period. In the summer, however, the activities slow down. You need to be prepared for your income to revolve around fall, winter, and spring; consider summers to be your ‘off-time.’
— Takes time: you might need help from marketing specialists in advertising your robots through the Internet. Your clients won’t be there once you get a robot; give it some time. First, you need to establish your business and properly position yourself in the new market.
CRM integration
Multiple Customer Relationship Management software is freely available on the market ― from Salesforce to HubSpot to Oracle, just to name a few. Companies of all types and sizes use CRM: from the private sector to governmental structures. CRM developers don’t work directly with their customers: they manage their work through integrators. The latter install the CRM to end-users and support its operation afterward.
Once again, make sure you possess good management skills ― likely, you won’t code as much.
Advantages:
— Easy to start: get a license and an integration pack; that’s it. Your overall investment won’t be higher than a few thousand dollars.
— Little to no marketing expenses: CRM developers will refer anybody looking for a CRM system to their local representatives, including companies like yours.
Disadvantages:
— Competition: you might find yourself among many integrators in your city, especially if it’s a big one.
— Codependency: there is little to no wiggle-room deciding the license price or your profit margin as an integrator.
— Client orientation: any errors or bugs that occur in the process will result in unhappy customers, a lot of nerves. You will be the one who’s going to take care of it. It can be simple just as much as it can be challenging, and you need to prepare for that.
3D printing
3D printing includes a wide array of applications and printers: industrial, in-home, etc. You need to learn AutoCAD or any other graphic software; after that, you are good to go.
You’ll find demand in prototyping, modeling, creating souvenirs, and everything related to plastic products.
Advantages:
— Easy process: you need to learn how to use the printer and design the future model. But after that, the rest of the work is taken care of by the printer.
— Marginality: one filament roll will cost you roughly $120. You can create 50 figurines with it, selling them for $5 each ― and right there, you doubled the initial expenses.
— Little competition: the business is not as popular as it probably should be. You won’t find many competitors in your area, especially in a small city.
Disadvantages:
— Technical support: this is a relatively new technology. Not many service centers can help you if something goes wrong. Good thing, you’ll have the Internet at your disposal.
— Print quality: you can’t create everything with the printer; for example, it’s impossible to create a smooth surface with any of them. Ensure you understand your client’s requirements and don’t sell them something that will be impossible to complete.
