When a fisherman goes fishing, he first chooses a place where he can get enough fish, he does go to any dam or sea but he becomes very choosy because he knows that he should invest time where he will get what he wants, fish. So, he chooses the right place to go fishing.
It’s the same idea as an entrepreneur, choosing the right industry is very critical. There are many industries that we could get into, and sometimes I think we become over-confidence as entrepreneurs and say we could go into any industry, sell any product or provide any service, provide a solution then we will be very successful doing that, that’s simply not true.
So today, I’m going to share with you seven industries that are most likely to make you a successful entrepreneur, I’m not talking about gimmicks and tricks like cryptocurrency or winning the lottery, I’m talking about legitimate, proven industries, they have created millionaires and billionaires.
1. Financial services.
Now, when I say financial services, I’m talking about the management of money, money lending, or the management of assets. We’re talking about the long associations, banks, financial companies, insurance companies, brokerage, a lot of those firms are very wealthy, because there’s a lot of money in money. One of the things I learned from one of my mentors, never forget that money is in the money. There’s a lot of money to be made just by managing to handle investing money. Michael Bloomberg, former mayor of New York became a billionaire by providing financial data to the financial industry, industry.
2. Technology.
Now, you know, Google, Facebook, and Apple, but we’re talking beyond that. Think about traditional industries that you could go into by using technology, what you could do to disrupt that industry, you can see there is a lot. Now we call that disruptors, right? How could you use technology to make things more efficient? We’re talking about robotics, we’re talking about AI, we’re talking about automation, we’re talking about the manufacture of these technology products, or even providing technology as a service billions worth of value is going to be created in this particular sector.
3. Real estate and construction.
The United Nations forecast Thursday that the world’s population will increase from 7.2 billion today to 8.1 billion in 2025, by 2050, it would be almost 10 billion people, that’s 10 billion people on this little planet by 2050. Now, what does that mean, where’s the opportunity, we all need a place to sleep in, to play in to entertain, to go shopping. Real estate and construction industry.
4. Entertainment and recreation.
People want to be entertained, in fact, people demand entertainment. You look at all these big companies getting into the entertainment industry, I am talking about movies, animations, productions, special effects, there are so many companies going into that industry, Amazon Prime, of course, Netflix, Hulu, Disney Plus, I could go on and on.
We are also talking about influencers, YouTubers, Instagram influencers, right now for the first time, you have a lot of people in the industry, you can take advantage of them. Now we are in a generation of people who want entertainment. So, if you can find a way to create a product, service, or company around this particular industry, you can also make millions.
5. Transportation.
As human beings, we like to travel. Now with the internet, the more we see, the more we don’t want always want to be stuck in a house, we want to go out there and see things so air transportation, aerospace, huge opportunities, but also think about now people buying online and shopping online. Where do you think the opportunity could be? handling shipping packages, I’m not just talking about FedEx or UPS or DHL. Think of something like Uber Eats people like stuff being delivered to them as now people shopping more and more online. This is a huge industry, just by being able to provide service a product, it could be as simple as providing software to help these companies to manage the inventory better, right? Or the shipping handling better. That could be easily a multi-million-dollar business industry
6. Energy, especially renewable energy.
So going beyond and just on gas. Now we’re talking about solar and wind, right. So with billions and billions of people, we all need power, we need more power to power up our devices and our technology. So that’s a huge industry, if you could come up with creative solutions that could solve this problem, not just millions, it could be billions of dollars, but you need to have certainty, you need to have an understanding of how this whole thing works. And you need to be able to work with the government on how to execute this properly. But there’s definitely a lot of money to be made in the energy industry.
7. Food industry.
Now with billions of people not only we need power, right, we need a place to live in we also need to eat. So in the food industry, that’s not going to go away with so many people on the planet, we need a more cost-effective, more efficient way to produce create food, right to produce food to feed so many people. So what do we need to do? Again, maybe you can come up with solutions that could go into these certain industries. And I’m not just talking about fast food because, with so many options, people want healthier choices as well. And to me supplements health type products, all those products fall into this category. If people are eating it and taking it to want to have a healthier life. Yes, des falls into this as well.
So those are the seven industries that I believe will most likely make you a millionaire but it should also be combined with your skills, your background, and you’ll know how to get into the right industry. You also need to be the right person in the right industry in order to make it big.
