The Next Great Business Opportunity Might Be on Mars (Watch)

By now, you’ve likely heard that Elon Musk, CEO of rocket science company SpaceX, wants to build colonies on Mars. But what you might not know is that he wants to start those colonies by 2022.

That may or may not be a realistic goal. But it’s certainly ambitious. And the company is making strides that could very well make that ambitious goal into a reality.

But many questions remain. How will Mars colonies be governed? What will the economy be like? What types of jobs are needed? People and organizations are slowly starting to come up with the answers to some of those questions. But one thing is clear — there are many potential opportunities for businesses to do truly innovative things.

For example, at least one earth-based group is already trying to start a Bitcoin-style cryptocurrency for life on Mars. There will also need to be businesses that develop ways to operate and provide essential functions for Mars colonists.

The First Mover Advantage

It might not seem like the smartest business idea to build something entirely around a colony that doesn’t even exist yet. But in this type of situation, it’s likely that those who jump on their ideas early are the ones who have the potential to make the greatest impact.

 

Photo by Liline sur Flickr

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