Updated: Oct 16
Do you want to start a business, but the thing that's holding you back is figuring out your market niche? No worries! You’re in the right place. Let's start from the beginning. Everybody has skills and things they are good at.These skills are important when it comes to determine a career, entering the work field, and focusing on your true talent.
Interests & Passion
Business isn't easy, and at some point it will test you. If you are working in an area that you don't care about, your odds of quitting will greatly increase. However, this does NOT mean that you need to find the perfect fit.
As long as you are, passionate about some aspect of running the business, you can stick with it and find what works best for you.
Prompts to help find you interests and passions
How do you like to spend your free time?
What do you look forward to doing when you aren't doing it?
What magazines do you subscribe to?
What topics do you like to learn about most?
What clubs or organizations do you belong to?
Seems simple enough huh? Well, its a little more complex.
Think about your past work, the times that you may have volunteered, and even your education experiences. What tasks did you do well? Which tasks did you enjoy the most?
Think about situations that challenged you and identify the ones that you were able to get through. Pay attention to the scenarios in which you felt the most accomplished. Once you find the common thread between these tasks or skills, you can consider finding an industry or position that is most suited for your skill set.
You've found your niche and now you wanna know how to get to the money! I totally get it.
You should now have a pretty good idea of what niche you're going to get into and
plenty of ideas are brewing.
The financial potential of your niche is the second most important thing to consider.
Start with categorizing your niche and researching jobs in that field. This will provide an overall aspect of what to expect when it comes to profitability.
If you can't find any offers, that's not a good sign. It might mean that nobody has been able to monetize the niche. Now is the perfect time, to double back and ensure that you are making the best selection, even if that means finding something fairly similar.
Once you've confirmed the viability of a niche, start developing a full-fledged website. You'll want to learn how to create and maintaining a blog, as well as, how to generate more traffic to your site to boost your revenue. This may not be necessarily a perfect process, but as long as you start, you will get there.
As an entrepreneur, you need to become a good "starter".