Editor’s note: This article was first published in June 2010. The view of which sectors were emerging or in high demand, such as solar energy, security and network marketing, reflects that time.
The business ideas that turn a profit are usually the ones that meet needs in an emerging market where there’s demand. Clearly, the best idea will be one that anticipates specific needs that aren’t being met yet, or for which there’s no demand yet because people don’t know the product or service exists.
We need to know exactly what people and companies in a country need, so that we can then meet those needs.
Costa Rica and Colombia have very good weather, so the first business idea has to do with the benefits a natural resource like the sun can bring to entrepreneurs who choose the solar energy sector, which is and will remain a business in high demand.
On the other hand, if we look at the crime rate, with its robberies and muggings, in countries such as Costa Rica and Colombia, we can consider all kinds of security and surveillance businesses, serving both individuals and companies.
In South American countries, many businesses have sprung up around the safety of clients of companies that operate internationally, offering airport pick-up and drop-off and escorting clients around a city they don’t know.
Then there’s everything related to security systems: alarms, outdoor protection systems and even self-defense classes for women. And don’t forget businesses related to leisure and tourism. Take a look at these business ideas:
For much simpler business ideas that work in any country and need no investment, see our earlier article on 10 business ideas with no investment.
See also: One of the fastest-growing businesses during the crisis: esotericism, tarot and fortune-telling
Today there’s also a great advantage: whatever country you’re from and wherever you are in the world, you can do business with the rest of the world thanks to new technologies and, above all, the internet.
There are network marketing businesses, which can be very profitable depending on how much drive and effort you put in. That’s why, before you commit to a business of this kind, I’d like you to read up on what it involves, its pros and cons and, above all, the mindset you need to get into it, because it’s often not as easy as they tell you.
If you want to go further, we can’t ignore where the market is heading, which is why we look at the emerging businesses that will be in demand in the future.
The future is full of new business opportunities, and the biggest slice of the pie will always go to whoever has the best idea and the best plan to develop it, without forgetting to build a business system and a strong distribution network.
I’m sure the business world is full of opportunities, both for Spanish-speaking countries and for the rest of the world. It’s a matter of knowing how to seize them and changing your mindset.
If you like, you can read about the differences between Hispanic and American entrepreneurs, to better understand why they turn a business idea into an empire while others leave it at just that: a business idea.
Featured image: I.D. R.J., CC BY-SA 2.0, via Wikimedia Commons.
