There are several reasons why you may start your business in a special industry. But if you’re seeking bigger opportunities, you may be wondering what industries make the most millionaires.
No one starts a business to fail it. There are many industries we can get into and sometimes, we are careless – we say we can go into any industry to sell any product, service or solution and be very successful doing that.
In this article, I’m going to dispense with you the industries that most likely to make you a millionaire – If that’s your goal.
1. Financial Services.
Companies that manage money – management of money or assets. Loan associations like banks, financial companies, brokerage, and insurance companies.
You see, all these firms are very wealthy because there’s a lot of “money is money”.
There’s a lot of money to be made by managing and investing money. Michael Bloomberg, former mayor of New York became a billionaire by providing financial data to the financial industry.
Think about what traditional industries that you can go into by using technology?
A business that you could do to disrupt the technology. And we refer to them as the disruptors. Some companies are true disruptors and are not a bad thing.
It’s a process by which a simpler, more affordable product or service is relentlessly moving up the market from the root at the bottom – displacing established competitors.
I’m talking about robotics, artificial intelligence, automation and manufacturers of these technology products or even providing technology as services.
That would be billions in value that are going to be created in this particular sector. For instance, Netflix, for what they did to Blockbuster, and even the evolution of digital cameras from old film cameras.
The healthcare industry is incredibly varied.
And when I say healthcare, what I’m referring to is, could be assisted living, senior homes, pharmaceutical, or any products and services that will help people live longer and stay healthier.
Now, that’s a very good industry to get into if you’re searching for what industries make the most millionaires.
The healthcare industry it’s providing good service and value to different patients that are seeking care. For this reason, there are many different paths to success if you can think of a product or service to serve the world.
Think about it, the world’s population has increased and will increase higher by 2050. And if technology and healthcare are integrated, a new opportunity for collaboration and reform will drive the market forward.
4. Real Estate And Construction.
The world’s population will continue to grow. As of January 2020, the world’s population is at 7.8 billion. United Nations forecast and predict that by 2025, it will increase to almost 8 billion people and by 2050 – 10 billion people.
That will be billions of people on this little planet by 2050. What does that mean? Where’s the opportunity?
With all the changes in technology, knowledge becomes critical. People want to learn new skills. They want to equip themselves with the skill sets that would enhance the opportunity in the education and software space.
With that said, these opportunities happening right now in front of us connect individuals, people, and professionals to 21st-century skills and job opportunities.
Within education, you can also have products and services, such as software, that help people in many different ways.
Beyond education, people want to be entertained. People demand entertainment.
All these big companies are getting into the entertainment industry. I’m talking about movies, animations, productions, and special effects. There are so many companies going into these industries. As the world becomes more connected and consumers’ options are expanded – entertainment and recreation continue to expand.
Look at Amazon Prime, Netflix, Hulu, and Disney, they are just some of the top media companies that are dominating movies, broadcasting and cable television. Don’t forget the recreation park industry as well.
This is where we are going with the rise of the world’s population in the next decades. Think about industries that help and facilitate this particular industry, influencing each other, like YouTube and Instagram.
And now, for the first time, we have people in those industries. For instance, a stand-up comedian or YouTuber could make millions in this industry now, when before they couldn’t compete with mega-corporations.
People like to travel. And now, with the Internet, the more we see – the more we want to do it. We don’t always want to get stuck at home. We want to go out there to explore the world, visit places and experience different cultures.
A simple example is “Uber Eats” because people like food and things to be delivered to them. As it is now, people shop more online and no doubt, this is also a huge industry.
Not just Oil and Gas, let’s go beyond it – Solar, Wind, Hydroelectric, Biomass and Geothermal Power can provide energy without the effects of fossil fuels. With billions of people living on our planet, we need to drive more power to our devices and technology.
With the world population growing, not only do we need power, a place to live, we also need to eat. Therefore, the food industry is not going to go away. We need a more cost-effective and more efficient way to create and produce food.
And I’m not talking about fast food. There are so many options now, with more people leaning towards healthier choices. Any health product that falls into this consumable category is also considered food.
If you could think of a solution that could penetrate this particular industry, you’re most likely going to be a millionaire.