Young, happy, rich — you can acquire the latter two things at any point in life, but you are only young once. Your twenties are a great time to begin pursuing riches and happiness. The youngest generation is ambitious and many twentysomethings see value in investing in a business rather than spending their hard-earned money on college tuition. Here are some of the top business ventures to consider.
Social Media Services
Nearly all businesses rely on some sort of social media marketing, not just to thrive but to survive. This is where someone in their twenties, who has spent their entire life using social media, can be a huge asset to so many companies. Sharing your insights with companies who desperately need it is a great way to grow a business that focuses on the unique expertise you have as a young person.
Content Creation
Talk to anyone in media, or someone involved in running a website, and the one word that will undoubtedly come up is "content." Content is what makes the digital world go round. There are currently just under 2 billion websites in the world, and most, if not all, need content to sustain themselves. The nice part about this kind of business is that it can be flexible based on your talents and skillsets. Companies and sites need all types of content to draw people in. You can start a content company that provides written material, digital video content, graphic design content or audio content, like music and podcasts.
Direct Sales And Network Marketing
The general idea is that you create your own business independently selling a company's product or service. Direct sales and network marketing are very popular in fields like nutrition and cosmetics, but there are also opportunities in many other industries. The biggest benefit of starting one of these types of businesses is that you get all of the product, marketing support and guidance you need with potentially unlimited earning power.
Real Estate
Investing in real estate is often a good strategy for building wealth. You can stick to the tried-and-true method of making money by buying properties, renting them out and then selling them down the line. However, there are more modern real estate business ideas that can produce a ton of revenue or give you a huge, quick return. One is to invest in properties and, instead of designating them for long-term rentals, turn them into short-term rentals by utilizing websites like Airbnb. This will likely give you more flexibility. Flipping houses can also be a great way to turn a profit. If done well, buying something cheap, fixing it up and adding contemporary touches can bring back big money in a short period of time.
Coaching
In today's professional world, people are always looking to develop their skills in order to further their careers. Many individuals want to develop a piece of their personal life, as well. If you know how to do something and can impart that skill or wisdom to others, you can start a coaching business. Whether it's playing the guitar or computer programing, or a broader skillset like sales or fitness, coaching can prove to be quite lucrative with little to no startup capital.
Senior Services
This may not be the sexiest business in the bunch, but it may just be the one that makes you the most money in the long run. The baby boomer generation —those born between 1946 and 1964 — makes up roughly 22% of the U.S. population. In 2019, this means that almost a quarter of the population is between the ages of 55 and 73. As this generation retires and ages, certain services will be in high demand. From transportation to visitation to recreation and even social networking. Find a way to tap into this massive market by providing a helpful service.
In today's world, there are more opportunities than ever to leverage your skills and create a business that can help make your dreams a reality. Start one of these businesses today, and you could be young, rich and happy before you know it.
