Category: Investment

Best Industries for Entrepreneurs Seeking to Innovate

Self-motivated individuals are constantly on the lookout for new streams of income. Entrepreneurs seek to utilize their own talents and capitalize on needs across a variety of industries. The greatest investors and leaders have one main thing in common – they never stop looking for the next big thing. Here are some of the best business opportunities for those who want to instigate innovative change.

Capital Funding

Finance may not seem like a good choice for entrepreneurial innovation but look beneath the surface. Microlending programs, angel investors, and moderate interest rate loans have backed numerous startups. Over the years, many of these investments changed the world in terms of healthcare, research, and information technology. Without innovative investors willing to take a chance on an unknown company, many of today’s conveniences would not even exist. Related investment opportunities are also available in cryptocurrencies and crowdfunding options.

Biotechnology

The field of biotechnology continues to grow at a rapid pace and creates a number of successful entrepreneurs. This process requires coupling existing living organisms with one or more technologically advanced processes. With each new development, additional possibilities emerge. Thynk Capital founder Jim Plante exemplifies entrepreneurial success in the biotech sector. The understanding and use of biology to manipulate living organisms in a way that benefits humanity is an excellent way to innovate change.

Human Services

New areas of health and human services are emerging as a result of the modern dependence on technology. The human psyche was not meant for the constant distractions of our personal electronic devices. Likewise, the incessant comparisons encouraged by social media platforms have created a number of new research studies. The end result of human dependency on technology is the crucial need to relax, unwind, and restore personal happiness. Stress relief comes in many forms, such as aromatherapy, group therapy, and meditation. The hospitality and fitness industries need more innovative entrepreneurs to take advantage of these new and underserved markets.

Artificial Intelligence

Robotics and artificial intelligence (AI) are behind a surprising number of inventions. Medical technology utilizes these features to create replacement limbs and enhance organ function. Smartphone technology, online shopping sites, and self-driving cars all rely on AI advancements. Self-learning machines help provide assistance to deaf and blind individuals. The same technology helps predict potentially harmful weather patterns and natural disasters.

Renewable Energy

Entrepreneurs today are very conscious of their carbon footprint and mimic the general household, which is concerned about the general state of the environment. Research and process improvements in search of renewable energy sources are among the most cutting edge investment opportunities. Hydro, wind, and solar energy options are bringing stable infrastructure to emerging nations. The environmentally friendly harvest and maintenance of natural resources leave room for profit and sustainability.

Agriculture

Agriculture covers everything from farming to retail food services, not to mention vineyards and other beverage producing crops. Entrepreneurs with imagination can definitely invest in agricultural and food service opportunities. Coupled with biotechnology and smart growth processes, the agricultural industry continues to expand. One main goal of research and development is to end food insecurity. Food scarcity and droughts have caused malnutrition and a host of other health problems in developing nations since the beginning of time. Innovative ideas are needed to finally end this stigma.

Ways Investing in Impact Helps Business

  1. Companies that focus on impact have 12-14 times more income than those that focus only on profit. They even perform better than best practices companies in Jim Collins’ Good to Great list.
  1. You have distinctive positioning. This is especially important for crowded markets and those with established and well-regarded players. Both millennials and over-40s are drawn to companies with a higher purpose, by knowing that their purchases matter. People are increasingly willing to look at products and services not just as commodities, but as the opportunity to have a high value experience grounded in impact and the ability to contribute themselves just by supporting impact-focused companies.
  1. You attract the best people, ones that are motivated by your mission. That means an engaged workforce. People are inspired to perform above and beyond, to bring themselves more fully into their work. Fulfilling work, where we spend so much of our days, helps us have a fulfilling life.
  1. You reduce the churn of employee departures. You avoid money and knowledge lost due to increased turnover and the loss of valued employees It’s a renewing wheel where you retain valuable employees in the older age range with their wealth of experience and promising young performers too, and bring in even more engaged people into your workforce, and potentially even new customers as engaged employees become brand ambassadors.
  1. You thrive with a higher purpose. What helps you get through those challenging times is a bigger picture, a greater contribution that you are willing to make. So you move through obstacles more easily, you stay motivated to move through them, and you don’t waste a lot of time and energy wishing things were different.
  1. You avoid commoditization. For people aligned with your vision of impact, a purchase from your company becomes a moral and ethical decision, not just a cost comparison.
  1. When you don’t invest in impact, you remain trapped in the profit economy, which is dying along with the companies in it, at a faster and faster rate. A move to the impact economy, with a pivot in your company to focus on impact, helps you be sustainable.