Those studying an Honours in Commerce often have dreams of becoming powerful entrepreneurs. Whilst business management and business leadership are two important components of following in the footsteps of industry greats, you need a big idea that turns heads.
Whether you’re in the middle of studying towards an Honours in Commerce or have a keen interest in business, it’s always interesting to see what the industry considers a sound investment and operation. What are the kinds of products and businesses that could present the perfect opportunity? We’re taking a closer look at the most promising options below.
Things are becoming increasingly more automated
Thanks to digital showing us the latest happenings abroad, we’re able to jump on those trends in a shorter time frame. This means that South Africa isn’t the same “slow cousin” that it used to be. Instead, we’re starting to offer services, products and ideas that can be seen overseas faster than before. We’re set to see an even greater shift towards businesses that don’t require middlemen to function. By using technology, we can take commerce and the future into our own hands. Recently, FNB launched an app that allows clients of the bank to sell their homes to one another. This reduces the need for estate agents and stands to save homeowners a lot of money in commission. As a result, businesses that have efficient and effective automated services will be the success stories of the next decade. Watch this space.
E-commerce will grow in leaps and bounds
Many of us are already shopping online for things like groceries, clothing and even furniture. The next big ideas will revolve around niche offerings that provide customers with even more unusual products and services. Think travel apps that send coupons for free meals once it picks up that you’re located near a resort. What about a digital popsicle business that sends you a notification when the temperature in your area rises above 24 degrees? These ideas need to be fun, yet practical with seamless execution if they’re going to work.
Next to customers, the earth should be our biggest consideration
Eco-friendly has never been more trendy. This can be seen through a massive shift towards more gentle alternatives to the daily products that we trust. There’s increased pressure for brands across the board to embrace more ethical production processes. The same can be said for the products that they sell. From natural supplements to innovative home care products, people are more environmentally aware than ever before. Fewer ingredients and a lower carbon footprint will be the key to success for businesses looking to launch new offerings. Only time will tell how well current household classics will hold their own against new alternatives.
Long live health
Most of us are consciously investing in our health. As a result, we choose supplements, snacks and drinks that contain more natural ingredients and fewer harmful ones. There are huge opportunities for those that can produce affordable, delicious and healthy treats. Many of the choices on the market at the moment are simply priced too high or imported. Delicious, locally-made alternatives will do well, as will options that cater to those who live a vegan lifestyle.
Get a qualification from a respected provider behind you
Besides a big idea, you need a qualification that prepares you for the challenges of the business world. The IIE BCom Honours In Management at The IIE’s Varsity College is a sure way to gain the skills and insights necessary for success in a modern age. With an Honours degree fast-becoming a benchmark for hiring practises in a competitive job market, can you afford to be without one? For more on this invaluable qualification, please click here to visit our website here.
Varsity College is an educational brand of The Independent Institute of Education (The IIE). South Africa’s leading private higher education provider that’s registered with the Department of Higher Education and Training and accredited by the British Accreditation Council (BAC).