How to Find the Best Business Ideas for 2020

Do you want to start a business soon? Are you looking for good business ideas? It may even be a business idea on the side. Or something you want for the kids. Also if you are living in a small town with low investment, you will find something you can do from this article.

Although, the best way to find good business ideas is to read newspaper ads, or check twitter trending news or TV ads. You can even see them on the stock exchange section of the dailies. Anywhere you can read up information about thriving businesses is a good source of good business ideas.

Also, everyday problems are full of useful business potentials. The best business ideas are those that solve human problems in a new and better way. Identifying issues that you can address for the world is your pool of good business ideas.

But I have provided in this article several thoughts and ideas that would help you find the best business ideas to start your business this year. You may have to reinvent the old into a new way of doing things faster, cheaper and more accessible.

Why Do You Need Good Business Ideas?

It’s always important to ask yourself why you do what you do. That is how you find strong convictions in whatever it is you do. The same applies to business. If you know the reason you want to start a business, that’s the force you need to withstand the challenges along the way.

The number one primary reason for starting a business should be to solve problems. It’s the same reason someone wants to become a medical doctor – to save lives. Any company that is not driven by this one desire fails eventually.

It’s like the search engine optimisation techniques. The number one reason Google or any other search engine is willing to send millions of free web traffic to your site is that you provide answers people are looking for.

Your reason for looking for good business ideas should be to solve the problems better than how it’s currently being addressed. If you have a good cause, even the creator of the universe will help you succeed better than your competitors.

Business Ideas List

There are many good business ideas you can start. But I’m going to list my top ten ideas for you. That doesn’t mean others are not good in my top ten. I just have to pick ten for the purpose of this article.

However, I include a link here to SmallBusinessTrends for a list of fifty more of these business ideas list for you. Also, I have listed below in other subheadings, into several categories of business ideas for you.

1. Errand Service

2. Social Media Manager

3. Social Media Influencer

4. E-commerce Reseller

5. Web Designer

6. Freelance Writer

7. Blogger

8. Virtual Assistant

9. Home Cleaning Service

10. Child Care Service

New Business Ideas

If you are looking for something new, you might as well invent it yourself. Anything new is the invention of the owner. However, you can take what’s out there and reinvent it as new.

Think about Uber as a generation of new business ideas. The company is an example of a digital on-demand economy. It took an old business idea and reinvented it.

And there are valuable lessons to learn from Uber in reinventing good business ideas. The service Uber reinvented is a service that is acceptable and used globally. It didn’t change the service itself. But merely changed how the service is accessed by the consumer.

It looked at what could improve the service, that is also acceptable to the parties involved and provided a link between them. In other words, it solved a problem that benefited both the demand and supply chains.

That’s also how you can find new business ideas. If someone is to give you the impression it may not be new anymore. Instead, you can look into what is consumed now and find better and acceptable ways to offer it profitably.

Also, look at what would work globally. It’s another curve in the new ideas scheme, to think globally.

Business Ideas Online

You might also want to stick to only business ideas online. There are several of them to pick from as well. Although, an online business idea doesn’t make it easier than an offline business idea. The only difference is that one is done online while the other is done from a brick and mortar.

So, if you want something to do online, you can see just a few of the ideas I picked for you. Here are 12 great online business ideas to get you started from Business News Daily.

• SEO consultant

Business coaching

• Specialized retailer

• Social media consultant

Web design

• Assistant/task manager

• Affiliate marketing

• Remote technical support

• Handmade craft seller

• App development

• Instagram consulting

• Social media consulting

Business Ideas to Start

If you are wondering why I have to include business ideas to start subheading, it’s to push you in all direction until you find a good idea. You can start any business, even outside the purposes listed in this article.

But I want you to be inspired enough to take action to start your own business. I will also be recommending you read this exclusive article on how to be successful in business. You will be able to turn any idea into a successful business.

• Accountant

• Property management

Business plan services

• Event planning

• Electronics repair

• Interior decorator

• Cleaning services

• Computer repair

• Consultant

• Hairstylist

If you are thinking of good business ideas to start, the first thing is how big do you want it? The bigger your dream, the better your chances of succeeding. Small dreams don’t get much attention.

But dreaming big doesn’t mean starting big. All Successful business ideas had their days of small beginnings.

Business Ideas on the Side

What is really a business on the side? It’s any business that you can do while still in paid employment. I recommend this to most working class. Before you think about quitting your job to start a business, consider starting one while still employed.

You may think your employers are cheating you by paying you a little salary. But when you don’t see that small salary in a few months, it might affect your family fortune for a while.

So, while you think of quoting, why not try out some businesses on the side. I have listed out some of them here. It will give you an idea of what is possible while you are still employed.

On the Side Business Ideas:

• Public Speaking or Teaching.

Tutoring.

• Child Life Coach.

• Sell Your Creativity.

• Personal Assistant to Seniors.

• Freelance Writing.

• Catering.

• Weekend Day Care

• Editing and Proofreading

• Sewing or Tailoring

• Dinner Cook

• Create a Website

• Christmas Lights Installer or Seasonal Decorator

More Side Business Ideas

Transiting from work to business may not be a smooth one. You need to transit gradually. Take a look at the following jobs and more side business ideas you can take on to earn money.

• Language/academic, private tutoring

Music lessons

• Post-construction clean-up

Garage sale organising and hosting for selling user items over the weekend

• Holiday decorating job

Vegetable garden planting and maintenance

• Professional blogging

• Graphic designing

• Freelance writing

• Creating and printing custom t-shirts

• Growing and selling organic vegetables, fruits, and herbs to restaurants and supermarkets.

Selling on eBay, Jumia, Konga and Amazon

Selling used textbooks or publishing your own books and sell on Kindle books.

Business Ideas from Home

A home business saves you the cost of renting office space. It helps you combine your life at home and doing business. But not every business idea can be done from home. So, I have selected just a few of the home business ideas. There are hundreds of them. This is only a few of them.

• Party Planner.

• Web Designer.

• Facebook Page Designer.

Home Daycare Provider.

• Vintage Clothing Reseller.

• Party Clown.

• Dance Instructor.

• Publicist

• Vacation Rental Owner

• Florist

• Tie-dye Shirt Designer

• Fundraiser

• App Designer

• Landscape Designer

Business Ideas for Women

And for Women, it’s not like there should be specific businesses that are reserved for women. So, my selection of business ideas is not restrictive to women. You can do any business you so desire, as long as you have the drive, the experience and the commitment to ensure its success.

Here are a few business ideas and work from home jobs too:

• Yoga Trainer.

• Freelance Writing Business.

• Own a Business of Clothing.

• Food Service Business

• Turn your Hobby into a Business.

• Consultancy Business

• Counselling Business

• Financial Advising

• Freelance Writing

• Language Instructing

• Travel Blogging

Business Ideas for Kids And Teenagers

The teens are not left out in this report either. I have some ideas to kickstart their dream. Here are a few of the ideas I thought could help lift their vision to a greater tomorrow. Let them start early to understand the life ahead.

• Social Media Consultant. As a teen growing up in the Internet age, you have an advantage over many adults.

• Babysitter. Babysitting is a great way to earn money because there are almost no start-up costs.

• Kids’ Taxi Service.

• Computer Tutor.

• Errand Runner.

• Moving Assistant.

Kids can do business too. So the kids are not left out. Imagine if your child is showing signs of an entrepreneur, it’s better you encourage them. Who knows how big they might become over time.

So, I have also looked at a list of business ideas for kids. I think you will like them too.

Small Business Ideas for Kids:

• Lemonade Seller

• Inventor.

• Chores Service Operator.

Kids‘ Book Author.

• Illustrator.

• Tutoring Service Provider.

• Candy Maker.

• Baker.

• Babysitter

• Blogger

• YouTube Personality

Business Ideas for Small Towns

What if you live in a small town? I have something for you too. Small towns are not left out of the business ideas. In fact, many of these business ideas will work in the small cities. I’m carefully choosing the thoughts I’m projecting to you.

The impression of most people when you talk about good business ideas is about an idea nobody knows. If nobody knows the idea, then nobody needs the idea. In fact, the most successful business ideas are ideas people already know and need. You are providing solutions and no surprises.

From starting small, most entrepreneurs have become a big-time success. I also have a list to get you started.

• Neighborhood Coffee Shop.

• Farmers’ Market Vendor

• Grocery Store.

• Fast food restaurant

• Specialty Restaurant.

• Food Delivery Service.

• Ice Cream Shop.

• Roadside Food Stand.

• Handmade Artisan

• Furniture reseller

• T-shirt Designer

• Clothing Alterations

• Carpenter

• Firewood Seller

Business Ideas with Low Investment

There are also ideas to help you start on a low investment. These are business ideas that you can start now without financial constraints. When thinking about starting a business on low investment, two things are important; the individual’ talent and the internet.

Low-Investment, No-Inventory Business Ideas:

• Build a dropshipping store.

• Design and sell print-on-demand t-shirts.

• Launch your own book.

• Create digital products or courses.

• Sell print-on-demand posters, greeting cards, and prints.

• Start a charitable business.

• Sell a service.

Action Points On Business Ideas

You are now at the point of making an important decision. Your choice of a business idea is key to your success. That means you have to know what you are looking for before you even start looking.

Step One: What are You Looking?

That’s the first step to finding a business idea. You have to be sure you know what you are looking for. Some people haven’t seen the business they want to do because they don’t even know what they should be looking for.

Step Two: What Would Like to Do?

If you know what you should be looking for, is it what you would like to do? You may find very lucrative opportunities. But you have also defined your role, experience and if you love doing such a business.

Although, you should also place what you love with what would help others. But if you don’t find any satisfaction in doing it, you may not continue for too long.

Step Three: What Do You Want to Build?

It’s essential you define your personal attachments to the business. Are you looking to build income or legacy? If it’s legacy, then you have to pick ideas that you would love to be remembered for.

Step Four: How Do You Want to Run the Business?

Have you thought about that? Some businesses are built on the experience or personality of the individual, like movie actors, lawyers, consultants, doctors, musicians, etcetera. You need to define how the business would be run.

Step Five: What’s Your Succession Plan?

Who would you want to leave the business behind to manage, when you retire or no longer interested in day to day running of the company? Your succession plan should be considered when picking your business ideas.

Maybe you even want to sell the business when you retire. You should articulate all these into your idea planning.

Conclusion on Business Ideas

Any business idea is good enough to start. The purpose of the lists is to give you some ideas about what’s possible. You can seize through all the many ideas in the world to find that suitable one for you.

Note that what is working for someone else may not work for you. That’s why you need to go the extra mile to find the perfect business ideas you can start.

And I have listed out the different categories to help you see what could apply to you within your own circumstances. But that doesn’t mean you ignore all the processes of starting a business. You still need to know how to start a business after you have found an idea that works for you.

Important Recommendations

I have listed out some articles I would want you to read that aligns with your desire of finding the right business ideas. Here are my lists.

1. How to Make Money In Nigeria

2. How to Start a Business in Nigeria

3. How to Rank Higher on Google Search

About Chinedu David

Chinedu David is a business consultant, trainer, marketer and strategist. My services include: conducting business feasibility study, packaging business plan, new and existing product market insertion, design, build and managing hotels and cooking Gas plants anywhere in Nigeria. PS: You can reach me through any of these contacts ( For speaking engagements both local and international) : Call/Text/WhatsApp: 08139006120, 07087770518 or email: nedu@myblog.com.ng

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