Are you looking to start a business, but are apprehensive about what kind of business to start. Perhaps, you’re a specialist, innovator, builder, or opportunist entrepreneur. Maybe you know what you want to start because you’re the “specialist” of that field or you simply like “building” any kind of business in a manner that the business runs itself and you get paid. What if you’re neither the “specialist” or “builder”, but rather the “innovator” of your field or some type of market want or need, and are setting your sights on launching that innovation. For all one knows, you may be an “opportunist” that simply wants to jump on the “next big thing” or turn a profit when you see an opportunity.
The purpose of this post is to identify the Top 10 Industries in 2015,
and from that identification provide you with the platform to
evaluate the industries as opportunities to starting a business in 2015.
Mary Ellen Biery, Contributor to Entrepreneur Magazine, stated “SageWorks compiled a list of industries that have both above-average revenue growth over the past year and typically low upfront startup costs”. According to SageWorks the Top10 Growing Industries in 2015 include:
- Electronic Shopping & Mail Order Houses ——————- 20.5%
- Software Publishers ——————————————— 16.0%
- Computer Systems & Designs ——————————— 15.2%
- Investigation & Security Systems —————————– 14.4%
- Services to Buildings & Dwellings —————————- 14.0%
- Management, Scientific, & Technical Consulting Svs——-12.8%
- Architectural, Engineering, & Related Services————– 12.2%
- Employment Services——————————————- 12.0%
- Specialized Design Services————————————- 11.9%
- Advertising, Public Relations, & Related Services———— 10.1%
Depending on your situation, expertise, and drive to starting a business, the growth rates of the identified industries may confirm or disconfirm your desire to start a business. Whether or not the idea that you have falls within any of these industries doesn’t necessarily impact the outcome of starting your business. However, if your idea falls within the scope of the identified growing industries, it may encourage you more to start the business in that industry to experience part of the growing trend. Keep in mind, just because industries are growing, doesn’t automatically yield to a fruitful venture. The time and effort you put into planning, implementing, and rocking out your business concept can make a business in a declining industry even more successful than those in a growing industries. The industry growth rates are just additional “food for thought” in regards to starting a venture. Perhaps one of the industries would be a perfect fit for your idea, it may be a indicator that there is a want or need for that particular “idea” in that industry.
In conclusion, starting a business can be challenging. One moment you may be totally stoked at the idea of it, and another moment you may feel apprehensive. The apprehensive may cause you to research more information about growth rates and so on. The data that you find can be twisted in a manner to fit or not fit your intentions. The mind has a great way to talk you in or out of making a decision to start a business. Here, hopefully this data helps you to see the value of evaluating growing industries and lead to more research as to why those industries may be growing. The data shows the growth, but it doesn’t paint the story as to why there is such growth. Investigating trends within those industries is an opportunity to evaluate factors that contribute to such performance, and it may even yield more details as to factors to watch out for within the industries. Regardless, research and analysis is a pivotal component for making big decisions, such as starting a business. It is encouraged to continue that analysis and do what you need to do to learn what you should before starting a business. Don’t stop the learning and investigating process after you start a business, but rather create a proactive approach to staying informed and educated about things that impact your business idea or venture.
by Katie Doseck, PhD MBA
Chief Visionary and Strategic Ace Up Your Sleeve | Viral Solutions LLC
Copyright 2015 by Viral Solutions LLC
Katie Doseck, PhD MBA | Chief Visionary & Strategic Ace Up Your Sleeve. I catapulted my experience with extensive education, trainings, and personal coaching; earning a PhD in Organizational Management with a specialization in Human Resource Management, MBA in Organizational Leadership, and BA in Law & Liberal Arts. Subject Matter Expert (SME) areas: Human Resource Management, Employment Law, Organizational Change, Change Management, Resource Planning, Strategic Planning, Talent Management, Selling & Sales Management, Training & Development, Decision Making Models, Project Management, Customer Relationship Management, and Motivation. Dr. Doseck is based out of Logan, Utah.
Viral Solutions LLC is a Digital Marketer Certified Partner, Infusionsoft Certified Consultant and a Mobit Certified Partner. We help overwhelmed small business owners duplicate themselves – so business can be fun again.