You can always tap into your technology-related ideas and set up your small business.
Even if you have a 9-to-5 job, there are incredible tech business ideas that enable entrepreneurs with tech-savvy to leverage their experience and passion for building successful new companies.
To get you started exploring technology, we’ve listed the top eight ideas you can try:
Finding which Tech Business Matches Your Skill Set
According to research, the technology industry provides 12% of all jobs and produces 23% of output.Moreover, research by Crunchbase shows that the average successful startup exit has sat at $242.9 since 2007.
However, for one successful startup exit, hundreds of ideas have failed. So if you want to hit it big in the tech sphere, you need to create a solid business plan. It starts with brainstorming a strong tech business idea and working on it.
Here are simple ways you can determine whether your business resonates with your skills and passion:
- Identify whether your business idea solves customers’ pain points
- Analyze the market to determine whether your target audience is willing to invest in your idea
- Determine whether there’s a sizable niche market for your business plan
- Ask yourself how passionate you are about the idea
- Consider testing your vision to determine its viability and value
- Find ways to market your business
- Question whether you’re realistic about your dreams and open to advice
Start Planning Your Business
Putting your tech-related business idea on paper and transforming them into tangible businesses starts by analyzing yourself and your strengths.
Once you can determine your interests, existing skillset, and things you’re naturally good at, it’s time to start planning:
Write a Business Plan
According to an insightful survey, 70% of business owners recommend writing a business plan. Here’s how you can create a solid business plan:
- Create an executive summary
- Write your company description
- Analyze your market and identify its potential
- Conduct competitive analysis
- Describe your products/services
- Develop effective marketing and sale strategies
Create a Business Entity
Once you create your business plan, it’s time to choose a business entity to conduct business, engage in trade, etc.
Typically, businesses choose one of the following entities:
- Corporation
- General Partnership
- Limited Partnership
- LLC
- Sole Proprietorship
Get Business Loan
Funding your business is an integral financial choice most entrepreneurs make. Once you calculate your initial costs, you’ll have to identify ways you can support your business.
If you’re unable to self-fund, consider connecting with venture capitalists or scoring a short-term loan.
8 Tech-Related Businesses You Can Start when Working Full Time
Many tech giants like Facebook and Google started relatively small. Here we discuss eight tech-related business ideas you can try:
Phone Repairs
Almost every consumer owns a smartphone in today’s digital world, indicating an increasing need for repair services.
Consider offering smartphone repair services where people show up to your store or send you their devices to troubleshoot their problems.
You may expand your computer repair and maintenance services if you have enough technical background.
Graphic Design
While a formal background in graphic design would be helpful, learning the basics of graphic designing yourself is relatively easy.
The widespread use of drawing tools such as Adobe and Illustrator alongside accessible tools like Stencil makes it easy for beginners with creativity, motivation, and a knack for innovation to earn a steady cash flow.
You can even collaborate with a photographer or a local startup to alter images and sell them as posters or on platforms like Esty.
Customer Experience Management
Most professionals believe that customer experience management platforms will eliminate the need for CRM platforms.
You can help businesses unify sales, marketing, and customer service conversations to enhance customer experience with the correct skillset.
Podcasting
According to research, 51% of Americans listen to podcasts, and the industry will continue to grow popular in the coming years.
Today, an increasing number of people are consuming media on the go. Consider starting a tech-related podcast that’s engaging and informative.
Portable Charging Devices
It’s no secret: where we go, so do our mobiles. And the worst thing is when your phone battery dies while you’re still out. That’s what drives the growth of the mobile charging industry.
The global portable charging market will likely grow between USD 3.6 billion from2017 to 2028 at a CAGR of 9.1%. Consider tapping into this market if you enjoy electronics.
Robotics
Robotics is a vast field with a background in mechanical engineering, electronic engineering, computer science, information engineering, and related disciplines.
Involving yourself in robotics while using tools like Pokit Pro, which has a multi use spectrum analyzer can help you create revolutionary machines that move and react to sensory input.
Blog Consulting
If you have experience in blogging and enjoy exploring blog-related things, consider becoming a blog consultant.
This way, you can support tech-related businesses and bloggers in getting their blogs running.
Data Entry
Despite its sketchy reputation, data entry offers a lot of legitimate opportunities. If you’re an exceptional typist with a love for working on computers and an eye for detail, consider starting a data entry business.
The Bottom Line
The ideas discussed above are some of the best tech business opportunities for tech-savvy people. You can use our list to determine which business idea fits your skills and interests. Plus, you can start these businesses with a small budget.
