As 2023 picks up steam, new challenges are reshaping a business environment rife with opportunities for properly positioned entrepreneurs. Whether it’s dropshipping on Amazon or launching a cannabinoid brand with Arvanna, the gold rush of eCommerce is far from over.
Plus, there are entirely new sectors of the online economy opening up that don’t deal in physical goods at all. Learn the top 5 angles you should take with a business in 2023:
1. Try Dropshipping
Dropshipping is an all-encompassing eCommerce phrase that can refer to a few different types of activities, ranging from a physical business with warehouses to a simple front website that handles transactions before handing fulfillment off to a third party.
At this point, everyone has seen the Twitter and Tik Tok success stories of lucky individuals who made millions on the dropshipping boom. While it can descend into seedy middleman nonsense sometimes, dropshipping fills a real need in the thriving online shopping market, a niche you can fill with your new business. All you need to do is to check some of the many helpful resources online on how to start dropshipping.
2. Sell a Course or Book
Looking back, historians of the future will likely dub the 2020s as the decade of courses and eBooks. With social media platforms like Twitter and Instagram serving as funnels to Kindle, Gumroad, and other self-publishing services, it suddenly seems like everyone has a book they’re selling or a new way of looking at the life they want to espouse.
It might almost seem passé to launch a course or book in 2023, but experts expect that this new peer-to-peer facet of the self-help movement is still far from its peak. If your life experience has provided you with something of genuine value, this might be the year you decide to start sharing.
3. Start a Natural Health Brand
Another accompanying feature of most notable Twitter and Instagram personalities these days is that they usually sell products of some kind. Whether it’s bone broth, private label vitamins, herbal supplements, or exercise equipment, people are using their social media influence to launch all sorts of different personal health products.
Even without a social media presence, there are various ways to get noticed as a natural health brand. With greater numbers of shoppers turning to natural alternatives for their health needs, the online natural health market is far from fully tapped, and there will still be plenty of room for growth far beyond 2023.
4. Launch a CBD Company
These days, there’s hardly any risk in launching a CBD brand. It’s true that federal regulation hasn’t quite caught up with consumer sentiment yet, but practically everybody now knows what CBD is, and you’d be surprised how many people rely on this non-intoxicating hemp cannabinoid for daily aches, pains, and woes.
When launching a CBD company at this late stage of the game, differentiation is absolutely key. Come up with a novel way to approach a genuine need expressed by CBD users, and this swelling market is yours to conquer.
5. Branch Into Other Cannabinoids
As CBD has become mainstream, its rushing growth velocity has slowed to something more of a trickle. CBD is still supposed to grow massively over the next decade, but the growth of the hemp market in 2023 and beyond will also be fueled by additional hemp cannabinoids like CBG and CBN.
In 2022, both cannabigerol (CBG) and cannabinol (CBN) posted nearly unbelievable yearly revenue increases, showing that cannabinoids aside from CBD are also starting to catch on in the mainstream. Analysts suggest that both CBG and CBN could one day generate just as much revenue each as CBD, leaving at least $8 billion lying around for the taking between now and 2030.
Natural Health & Personal Freedom Are the Future
Whether it’s getting over an ex, learning how to formally dress, or finding a natural cure for anxiety, people everywhere are becoming educated and “escaping the Matrix” in all manner of different ways. This decade is truly the decade of the individual, and everyone from anonymous shoppers to social media influencers is exploring concepts like personal sovereignty and health autonomy like never before.
Now is undoubtedly the time to share that particular talent you never explored before — whether it’s coaching men on dating or formulating the world’s best antibacterial CBG lotion. No matter how overall economic conditions might shift, there will always be a place for your niche — as long as you take the time necessary to find it properly.