Five Industries New Entrepreneurs Should Get Involved In
The societal disruption created by COVID-19 opens up many doors to both entrepreneurs and traditional 9-5 employees. With extra free time and more people working from home than ever before, there is increased freedom to dabble in new industries.
This blog post discusses five industries with great opportunity to solve big problems. If you are the right entrepreneur to solve the problem, there are huge chances to win big by getting involved in one or multiples of these industries.
The audio industry has seen a massive rise in use of general audio books, audio podcasts, and audio business education. Having skills and access to technology in the audio space creates a unique business proposition for an entrepreneur to bring to the table. Many business owners want to start podcasts but do not always know how to get started or would rather outsource the work to podcast professionals. As an entrepreneur, you can reach out to business owners or market yourself in this arena to help others set up business podcasts.
I personally run my own podcast and work in collaboration with Backpack Sounds. He does all my editing to make sure my voice sounds buttery and silky while assuring high quality edits. I also have a friend who creates artwork for my podcast. Additionally, there’s writing and videography involved in running podcasts. Possessing strong videography, art, and writing skills can aid an entrepreneur in finding their niche in the podcasting/audio industry as well.
Another benefit of getting involved in the podcast industry is that podcasting is still on the rise. There’s so much opportunity to get involved in this industry and build long term success.
A few days ago, my daughter had an allergic reaction to bug spray. Her skin started swelling, causing a temperature of 101 degrees. We drove her to our primary physician and were told we could not bring her inside because of the possibility that she had COVID-19. Instead, they sent us a Zoom link to a telehealth appointment with her doctor. After meeting with her doctor online, he helped us figure out what medicine she needed, and in two days, she was completely fine.
If we had known ahead of time that they were going to set us up through telehealth, we would have stayed at home and had a solution to her symptoms without even leaving the couch. Because of COVID-19 and innovative technological solutions, telemedicine is skyrocketing in use. Doctors and physicians from a variety of practices are using telemedicine more frequently. Health solutions are delivered straight to you in the comfort of your own home in fields such as mental health, rehabilitation, pharmacy, neuropsychology, general medicine, and many others.
Telehealth treatment faces a whole set of legality issues that in-person treatments do not require. This in itself opens up a huge opportunity for entrepreneurs to slide into. If an entrepreneur has the knack for understanding the legality of running telehealth calls, they can market themselves effectively to businesses that need to outsource this work.
The first business I ever owned was a cleaning business. And because cleanliness is such a huge concern in the global pandemic, there is much opportunity to grow in this arena. A new technology in this industry is UV sanitizing lights. These lights are used to kill germs on virtually any surface, making them an extremely useful tool in today’s world.
That being said, there is much room for opportunity here. Entrepreneurs can get into UV lighting and sell these products for office spaces, at home use, and commercial spaces. Instead of rolling through boxes of cleaning wipes and bottles of hand sanitizer every day, companies can use a natural resource to get the job done efficiently.
Coachella. Tomorrowland. Stagecoach. Music festivals like these have blown up over the past few years. But with COVID-19 shutting down so many live experiences, artists have turned to virtual experiences via YouTube and other streaming platforms. These experiences clearly are not the same as live concerts.
So the question is, how can we re-introduce live experiences into society while maintaining social distancing? There are lots of concepts people are testing. In-house movie experiences have been replaced by drive-in movies, and some artists even used this as an inspiration to host drive-in concerts. Dave Chappelle, a famous stand-up comedian, held a comedy show at a farm, providing his guests with plenty of space to social distance.
Though these are some short term fixes, how sustainable would they be long term? This is a current pain point in the live experience and live music industry that a savvy entrepreneur could tackle with a little tenacity and creativity.
The last area that I think has much room for opportunity is education. Are children going back to school in the fall? Are schools hosting hybrid classes, full time in-person classes, or complete virtual experiences? The way schools are moving forward will have a huge long term effect on the quality of education in the classroom.
So the problem that arises with any level of online learning is how to help kids maintain focus while studying at home. How do parents create a learning space for kids to effectively cut down on distractions? Are there services offering micro classrooms for children to attend? What online platforms are most compatible for public education systems? These are all legitimate questions to consider and problems that need solutions.
In conclusion, COVID-19 disrupted the normal processes of virtually every industry. As an entrepreneur, find an industry you’re passionate about and create a way to make your own mark on the future of that industry.