Ready To Find Your Dream Business Niche?
The First Step in Starting A Dream Business
Are you thinking about finally starting your dream business? Curious how to turn ideal dreams into a reality? If so, then these pages will help you get started.
And it all starts with deciding on the niche your dream business will fill. Often, budding entrepreneurs focus on getting ideas first ... but that means you can be coming up with lots of ideas that you may not be able to turn into viable products and services.
And as the unusable ideas stack up, your ambition and drive can start to go south. Or worse, you end up using up your start up capital chasing ideas that will never get off the ground ... or are for markets and customers you do not want.
Why Start With The Niche?
The reason you start with getting your niche set first is that it focuses your ideas, and lets you decide on the customers you want to have and the type of goods and/or services you will provide.
Often, the better you know the customers and the market you are entering .... the better you will do. If you have little or no experience in the specific field or industry, you will be 4 to 6 years behind other people entering the market in terms of experience, contacts and industry knowledge. Sometimes you can take a great idea and finesse your way in ... or start a whole new niche ... or get a partner with the industry background you lack. But all of those put you at a disadvantage ... and can be costly in terms of mistakes, false moves, pursuing dead ends and dividing up the ownership and profits.
What is a Niche?
A niche is the specific market you want to capture .... defined by the customers, price, and features and benefits of your product or service.
For example, you could be thinking of starting a business that provides goods and services to ...
- high end skiing vacationers that want privacy and a touch of luxury in accommodations they book at a moment's notice
- New York City travelers that want clean, avant garde transportation around the city
- San Francisco chefs that need a wide variety of local wines restocked daily and paired with the house specialties
How To Find Your Business Niche
The way you find your business niche is to look at what you love ... and build a business around it.
Once you start to work with these ideas, start a file or journal to write down your answers .... and keep at it. Sometimes it takes time to let these questions sink in ... mull over them ... and come up with answers that fit you and reflect who you are and what your dreams are for your business.
You may find you have come up with one great business niche ... or have several good ideas. And then the next step becomes ...
* These steps are covered in the Book of Life