5 Successful Digital Business Models Yielding 6 Digit Turnovers
Digital based business start-ups are the new trends that everyone wants to try their hands on. Aiming to become a successful business owner with luxury lifestyles and exclusive holidays, the young entrepreneurs do not notice the hard work and passion that these digital start-up owners put into. It is never that one factor which contributes to the success of any business but various factors placed together in the right proportion that yields success. The success of any digital start-up is not only based on the novel ideas or the unique personality of the owners, but also the clear concept they work on starting from choosing a niche they are most interested in.
Presenting with a range of various digital start-up ideas, the digital world is providing scope for various services to be provided online. Today, there are billions of business models that are either created to serve people online or have some elements that serve the business digitally. Whether it is a novel technology AI that is supported with internet or a business that is providing offline services online with a mobile application, visionaries from all over the world are creating profitable businesses with the internet.
Start-up is a passion, one cannot just stop at one, and so if you are starting afresh or just looking for the next start-up idea, here is a list of 5 online business niches seeking highest returns with low investment:
- Fitness Mobile Application: Fitness, the most trending niche in the world of health-conscious entrepreneurs, is one of the best niches to invest in. In the busy world, business start-ups are focusing on capturing the young target audience who have limited time and high demand for seeking fitness guidance. The mobile applications are a result of everything. In India, there are already markets with existing competitors who have taken over the market, it establishes the fact that the market holds potential.
- Vlogging: Video Blogging, one of the most significant online business models is being used to earn on its own through monetization or building a marketing platform for various brands. Vlogging offers a diverse platform for everyone. Be it lifestyle and fashion, food, technology, fitness, business, various niches can be explored. Key to earning millions through vlogging is possible by building a successful brand online.
- AI-Based Fashion Applications: Getting dressed up in the 21st century and with AI is a dream for every girl. An algorithm that works on data points like age, body type, event/occasion, and other preference and builds a customized look for a target audience that would look to explore the fashion possibilities that any brand can hold. Some of the business models exist today that have been capturing the market but they do not market their AI as a USP, which creates a scope for business models like these to exist and be successful.
- Online Chat-bots Developer: While every business model has gone online, they are thriving to get the best features on their websites and mobile applications. The AI-based Chat-bots is an essential element of various business models. The business entrepreneur focuses on creating customized AI algorithms that converse with the users online on the website to ensure that no user leaves the website in case of no response from that company’s official website. From booking an appointment on a healthcare app to getting a business meeting fixed, AI chat-bots use the user information to provide customized messages. This feature makes the website appeal more and retains its user online making this one of the most preferred business services to be availed.
- Online Consulting: As the time frame gets limited and the mobile usage increases, the chances that people are looking for availing the consulting services online rather than having to personally meet the experts. Whether it is an online chat or online video call, the millennials are looking towards getting consults from experts in the industry whether it is healthcare or any other niche and they are ready to pay for it. Various successful models are working in the healthcare industry providing online consultancies and the potential exists in various other industries to build a billion-dollar brand that caters to the millennial target audience.
These are some most profitable business ideas out of many that exist in the market. Initiating the business models from an excel sheet into reality is what you need to focus on. A strong business plan with the ability to bring efficiency in operations leads to sustainable scope investment opportunities. So you just have to get started.