At some point every entrepreneur feels lost. It doesn’t matter how much experience you had or how many successful businesses you’ve launched in the past. There comes a time where you just don’t know what direction you want to head in next, and that’s okay. It’s okay not to have all the answers today. Don’t beat yourself up over not knowing what to do what’s next, or what the future holds. Over time, you will find the right path for you, and hopefully this post on new and emerging trends in the dietary and e-cigarette market will help you start thinking about your next business idea.
The New Age Dietary Supplements Industry
Personally I’m not one to promote dietary supplements. I honestly believe the supplement market in the United States is way too unregulated, and people are buying and consuming things promoted as better for your health when really they do nothing OR they are actually worse or your health. Well, that’s not the case with CBD. This stuff really works, and there’s science and studies that prove it’s anti-anxiety, anti-nausea, and anti-disease fighting properties.
CBD, or cannabidiol, is actually derived from the cannabis plant. It is the non-psychoactive ingredient in cannabis, which basically means it does not get you high (THC is responsible for that). The oil is extracted from the cannabis plant by manufacturers (so it’s all natural) and then get either be consumed through vaping, combining with edibles or capsules.
Here’s some ways you can make some money in this market that seeing double digit growth every year.
So what can you do in this market?
- Create your own line of CBD oil
- Create your line of CBD wax, isolates, capsules or edibles
- Create your own e-liquid that blends in CBD (hitting both the e-cigarette and CBD markets)
That final point leads me to my next business idea…
The E-Cigarette Industry
There is a new space that is currently glowing up big time, and that’s the electronic cigarette, or vaporizer industry. What’s really interesting about this industry is the epic disruption it is causing in the tobacco market. Cigarette executives are running around like headless chickens in there closed off, private buildings full of God knows what. After years of sitting down at the office and just counting cash, they must be realizing they have to do something, and they are. Tobacco companies are actually embracing this change (publicly anyway), coming out with their own likes of e-cigarette products with some companies going as far as even saying that e-cigs are healthier alternatives to cigarettes and are the future.
This tremendous growth and disruption means tremendously equal opportunities for budding entrepreneurs to make a fortune, and perhaps people quit smoking doing it. When the dust settles and clears, there will be clear winners and clear losers. Who will take the spoils, it’s still anyone’s guess. One thing is for certain, consumers are demanding vaporizers and the e-liquids which fill them.
So what can you do in this market?
- Create your own line of vaporizer products (hardware)
- Create your own line of e-liquids
- Make a profit importing / exporting vaporizer products
That’s it for today’s post on some business ideas you can work with. Both these industries are disrupting their respective markets due to rapid consumer adoption and scientific studies showing true benefits of helping to quit smoking or reducing anxiety.