10 Business Ideas:

Only half of all small businesses survive past the 5-year mark and under a third of them survive past the 10-year mark.

How can you be in the top 30%? You need a sustainable and profitable business ideas that’s going to carry you through the ups and downs of the economy.

Here are 10 business ideas with a $1 million a year potential and they’re all in growing industries with big markets. This is not a blog about generic businesses everyone and their mom has already done. They are fresh, so let’s get your business up and running by this year so you can make your first million dollars.

Every business needs three core things: a problem, a solution to that problem, and a way to monetize the solution. I will break down each of these ideas into those three elements so we can get your creative juices flowing. My problem is that I need caffeine 24/7 and the cafe across the street has a solution to my problem and I’m pretty sure they’re taking all of my disposable income, but it tastes so good.

Business Ideas Number One: Financial Services for Digital Nomads

• The Problem: Digital Nomads make money from different countries and they often live all over the world for different months. Dealing with taxes and bank accounts while moving abroad can be extremely stressful.
• The Solution: You help them manage their financial needs and goals, tax management across borders, expense tracking, retirement planning, and banking tips—basically everything to do with making money abroad.
• Additional Info: There are around 40 million digital nomads worldwide. Even if you aren’t a financial guru, you can make an app or agency for this and hire financial experts.

Business Ideas Number Two: AI-Powered Spreadsheet Solutions for Data Preservation Companies

The Problem

Data companies deal with a ton of information on a daily basis. They have a lot of complex spreadsheets with loads and loads of data that would be pretty hard to manage.

The Solution

You come in and design an AI that helps automate the spreadsheet creation process. The offer: Done-for-you spreadsheet services or courses on how to run and automate data efficiently. Efficiency could be saving these companies millions of dollars. It is a $349 billion industry.

Business Ideas Number Three: Accountability Coaching for Solopreneurs

The Problem

Solopreneurs have a lot to do in a day and it can be really hard for them to have self-discipline.

The Solution

You build a service that helps keep them accountable through coaching, habit tracking, and community. The offer: Six-month accountability coaching packages. If you want to become a certified coach, there are a lot of cost-effective ways you can literally get certified online. I’m pretty sure for as little as $20, and coaches can make a lot of money. For example, Brook Castillo runs a life coach business making around $35 million annually.

Business Ideas Number Four: Lead Generation for Agencies

The Problem

Agencies need a constant flow of clients who need their services. This can be really hard to grow and manage.

The Solution

You create online and offline lead generation for them. For example, you can help with social media targeted ads, lead magnets, partnerships, and referrals.

What is a Lead?

Lead generation, in general, is one of the top needs of any business and if you can figure it out for other businesses, you can also figure it out for your own because all businesses need leads. For anyone wondering, a lead is a potential customer looking to buy what you are selling. Okay, stay with me, guys. This is you, the viewer, and these are leads. Okay, you want them to like you and to give you their money.

Business Ideas Number Five: Community Management for Online Businesses

The Problem

A lot of businesses and coaches struggle to build and manage their communities on platforms like School, Shopify, Facebook, or Discord.

The Solution

You help them grow and manage their community. The offer: Member support, moderation, event planning, and community growth strategy.

Business Ideas Number Six: Client Acquisition Agency for Home Service Businesses

The Problem

Home service businesses such as plumbers, electricians, and landscapers often struggle to find consistent customers. They have employees, contractors to pay, and families to feed, so they need consistent clients.

The Solution

You help connect them with leads and long-term clients. Your offer: Local SEO, phone call outreach, paid ads, cold email marketing, and content marketing. Depending on your skills, there are a lot of ways you can help them find their ideal clients. Home services are always in demand and you have the potential to secure long-term contracts, setting up a predictable income stream for you and your clients.

Operating Remotely

You can even operate remotely and it would have very low overhead costs, which means that you can scale it very easily. You can charge a percent of each sale, a flat rate, or both.

Business Ideas Number Seven: High-Ticket Tutoring for Competitive College Admissions

The Problem

Wealthy parents want their children to get into prestigious universities, but sometimes their kids need a little help.

The Solution

You become a specialized tutor for standardized tests and college application essays. Offer one-on-one or in-group tutoring online for an hourly or monthly rate. Once you have enough clients, you can start hiring tutors under you and now you have a million-dollar business.

Business Ideas Number Eight: The 20-Day Habit Change Concierge

The Problem

People struggle to develop and stick to new habits. I mean, don’t we all? Sometimes I even forget to put on my retainer and I have been doing it for almost almost 10 years.

The Solution

You can create a concierge service that provides 20 days or more of in-person or online support to help people change their desired habits.

The Offer

Custom-tailored plans for each habit that they want to change. You can create diet and exercise plans, hygiene routines, productivity strategies—honestly, anything that they need—and you can keep them accountable with daily check-ins, progress tracking, and phone support. If you’re a life coach, great at making plans, or you know what motivates people, then this will be a very good one for you.

Business Ideas Number Nine: DMCA Takedown Business

The Problem

A lot of artists and creatives have a very hard time protecting their digital assets.

The Solution

You will help them protect their creations and prevent potential revenue loss. The offer: Monthly DMCA takedown services. An ideal client for this would be creators, musicians, e-commerce businesses, photographers—basically anyone whose work can be stolen. They will pay you for this because by having protection around their artwork, they can charge people for using it. I have a lot of friends who are influencers who have found their photos and videos on random websites—not fun. You can help them out and make good money while you’re doing it.

Business Ideas Number Ten: Eco-Friendly Children’s Toy Subscription Service

The Problem

Kids are constantly needing new toys as they grow up and there aren’t a lot of sustainable options for kids’ toys.

The Solution

Provide a monthly subscription box of sustainable, non-toxic, and educational toys for children within a certain age group and then rotate toy selections to keep children engaged while promoting environmental responsibility. The offer: Monthly toy subscriptions, partnerships with eco-friendly toy manufacturers, and exclusive member discounts with increasing awareness of environmental issues. Parents are seeking sustainable options for their children.

Bonus High-Profit Business Ideas: Remote Customer Service Support for E-Commerce Businesses

The Problem

E-commerce businesses need help with their customer support and hiring in-house staff can be way too expensive and time-consuming.

The Solution

Remote Customer Support Services:

• Service: Virtual assistants trained for e-commerce customer service.
• Offerings:
  • Website support
  • Email support
  • Processing orders and handling returns
  • Customer calls
  • Basic troubleshooting
• Importance: Good customer service is crucial; bad service can lose sales.
• Platform: Shopify hosts many large e-commerce businesses.
• Action: Set up a Shopify account and start marketing to these businesses.

Motivation Concept:

• Scenario: Making a million dollars in a year seems impossible.
• Changed Scenario: Making a million dollars in a year to save loved ones seems possible.
• Key Point: Motivation, not capability, makes the difference.
• Business Tip: Find the right motivation for your business to drive success.