When it comes down to life and all of its endeavors, the major difference anyone can spot out between crippling failure and huge success is simply timing. Timing greatly applies more to the business owners around us.
We streamline it down to business owners more because delving into the market at the perfect time aids in growing their businesses at a rate that is accelerated.
However, when they delve too late, they are faced with industry saturation and delving too early brings about little or no consumer interest. The business could end up being a waste of valuable time, not forgetting a waste of money as well.
To get the time for our business right, you can keep an eye on the coming future and also pay close attention as you have never done before to cultural trends plus the news media.
There are so many industries out there today that are about taking off, and everyone is advised to get on board with them before it gets too late swiftly.
Some of the growing Industries we have in the world today include:
Augmented Reality And Virtual Reality
Experience with the strong immersion of a virtual reality system will never leave you in doubt on why the industry is rated among the fastest growing in the world today. Since 2016, it’s market value has doubled almost yearly
One of the most popular augmented reality games is PokemonGo, which the whole world must have heard of. It is a smartphone game that has grossed roughly $2 billion in universal revenue alone within a space of two years.
Nonetheless, these two areas of technology are making the buzz in a huge way. There have been researches and studies that project the virtual reality industry to have a yearly growth of about fifty-seven percent in the next ten years.
Also, more notable reports have surfaced to predict an astronomical growth of augmented reality and virtual reality to prospectively surpass $209.2 billion in their revenue by the year 2022.
Furthermore, the growing success of this industry is as a result of the versatility of the technology. They are both used in very creative ways to:
- Study medicine
- Teach history and;
- Help people with physical disabilities experience fun things like skiing
While the processing capacity of all our devices is gradually becoming powerful, there is no reason at all that AR and VR will not become much more mainstream.
Sports Betting
There was a time when sports bets were the major territory of organizations that were underground. In the year 1931, it became legalized all across Nevada. And, for the next eighty years, other states did not legalize it.
“The job of marketers is simply to understand what the customer wants to buy and aid them to do so” – Bryan Rosenberg
However, the world of sports betting has gradually started shifting, and this shift was caused by two recent developments, which are:
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The Internet
There is a clear difference between the world of gambling before the internet emerged and the world of gambling after the internet emerged. In countries where gambling was heavily prohibited, it became accessible in ways that were unheard of before.
While placing money on sports is actually legal in some regions in the world, international companies and America began circumventing their very own laws.
They did this by opening new bank accounts outside their home countries and market their websites to gamblers across the globe. But in 2006, the unlawful gambling enforcement act hit internet poker rooms, bookie sites, and online casinos.
In running such a business, the entrepreneur must always embrace a specific grey area business practices but even with that, operating such a business needs the internet.
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The NCAA Supreme Court Ruling Versus Murray
There was a six to three Supreme Court vote against sports betting in the United States on the 14thof May. While it was quite the momentous occasion for those with a vested interest in sports bet, there was a catch attached.
Rather than make it legal in all places, the ban removal gave states a choice to either legalize gambling or not to legalize gambling. This means that its legality was to be determined based on each state.
Reports have shown that sports betting around the globe are worth $3 trillion. You can as well begin preparing for the time when this industry will be viable in your state, or you can operate it somewhere else where it is already legal.
Cannabidiol (CBD)
If you have no idea what CBD is, then here it is. It is quite the polarizing substance. For some people, it is a pain reliever, reduces anxiety, and represents natural healing. While for others, its link to cannabis is a reason to condemn it.
It is a schedule 1 drug based on its link with cannabis, although cannabidiol lacks some psychotropic properties that make you get high. Nonetheless, those interested in starting this business have been exploiting some loopholes.
These loopholes involve processing hemp for its CBD because hemp has a quantity of THC and can be cultivated in every state.
Judging from the Farm bill of 2014, as long as the THC level is left to be below 0.3% it is entirely legal to generate and trade. There are so many people looking for means to produce and sell CBD as well.
Most of the growers are out there capitalizing on CBD because it has been projected to be much more profitable than the highly competitive cannabis market.
For those that are interested in investing in the CBD industry or want to be resellers of CBD online, there is actually space to get on board. The sales of CBD in the United States increased by forty percent in 2017.
As per RoyalCBD analysis, experts in CBD industry estimate that the CBD market will hit $2.1 billion by 2020, with $450 million coming from the hemp industry. Yet, according to a survey conducted in 2016, only 5% of Americans know what CBD is and how it works.
“Clients do not really care about the labor pains in the business, they just want to see the baby” – Justin Hamilton, Royal CBD
To Wrap It Up
Asides from the timing between huge success and crippling failure, major success also hinges on being in the right place at the right time as well as doing something about all you discover.
Although nothing is certain in the business world, the industries that have been highlighted are on a trajectory towards the ever-perfect moment. This is why doing something about the right timing is solely up to you.
