
You are living in the economic transformation and technological innovation revolution. Without starting the asset-light entrepreneurship, survival is difficult. AI is rapidly eating up the common jobs, and if you do not consider starting a side business, you are facing huge economic problems.
The three important pitfalls:
- The minimum profitable unit: Before buying any product from the vendor, first test the market through pre-sales. When you are comfortable with the results, then gradually expand. For example, any food street stall in the center of the city only increases categories when successfully selling for 100 days.
- Traffic: How much traffic you can attract and where to obtain the natural traffic is fundamentally important. The start of the entrepreneurial process is based on this factor.
- Assets cost: Do not be impressed by the popularity of the product category; first verify the hidden cost and give priority to those products that require low cost for ordering, delivering, and holding.
Emerging Trends
Did you know elderly tourism gives you the best results? Why? Because in many countries, their rich population is entered into the silver club. You can offer them VR devices for personal needs. Moreover, the consumption habits of retired people are always worthwhile for start-up attention. You can sell membership or create a package with annual fees.
Generation Z
Generation Z is the best customer base because they are AI-aware and know how to use high-tech devices. For example, you can sell AI, AR, and VR for a variety of emotional needs. You can even sell them stickers and earn a decent income. Generation Z gives you the best opportunities, like virtual companionship, emotional consultation, and value-added services.
Drop-shipping
Many people think that drop-shipping is no longer profitable. In reality, you are wrong. You can use Shopify to build an e-commerce application and focus on Southeast Asia and the Middle East. Pay more attention to religion, events, and festivals in these parts of the world.
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