How to determine the niche of activity in business? - Build your online business

Thursday, November 7, 2019

How to determine the niche of activity in business?



Before choosing which business to start, it is worthwhile to understand whether a business is needed at all.

Beginning entrepreneurs often overlook this important issue, immediately trying to find a profitable area to start.

And a few steps are enough to answer it. 

First, you need to remember all your goals and plans for the next few years. Secondly, honestly answer yourself whether the business will help you achieve your goals in the foreseeable future.
Own the business will achieve the desired?

Then you can start choosing the direction. There are three main areas in which you can start a business:

Production Products Services For example, you can open a pastry shop and bake cakes, or you can open a store and sell cakes from suppliers. And the third option is to open a cake delivery service for celebrations. All areas have their advantages and disadvantages. But do not forget that regardless of the chosen field, the main thing remains the marketed product. Therefore, the next step is to choose a product.

  A step-by-step plan for determining the future business product Recall what worked best in the past. Moreover, it is not so important in which period. Someone in childhood showed a penchant for drawing – you can think about creating paintings to order. Someone at the school could agree with classmates on a profitable exchange of stickers – sales might be successful. Many have accumulated useful relationships with friends, classmates, etc.

Any nuances may be useful for future business. Write on paper what you like to do now, what you like to have, to buy. Separately, write a list of what exactly you do not want to do, which does not cause positive emotions.

Thinking it over in one day is inefficient, so it’s better to spend a few days to understand what really brings pleasure. It will be enough to look at two lists where exceptions and preferences will be formed. Exceptions – this is something that you do not want to do under any circumstances, something that will not bring profit. The following list is a list of what I would like to learn, skills and experience that I would like to gain or improve. It doesn’t matter how achievable these desires are. No need to try to analyze them.

Let these be the skills with which the business is not planned. For example, a dream to write and publish a book or a dream to learn to surf. Next, you should analyze the information received. What worked well in childhood, what you want to do now, what you want to learn from, it is necessary to find a common thing from these lists.

Common points and will be a support for the future of their business. This will be a kind of motivation for business development. After identifying the general points, it is easy to identify which product is best for a start. After determining the product, it is worth thinking about the area of ​​activity in which it will turn out to work comfortably and profitably. In addition to the choice: product, production or service, you have to choose the form of business – online or offline.

 Yes, starting your own business is an extremely time-consuming and costly undertaking. If, as a result, there will be not only profit from it, but also moral satisfaction, then it was started not in vain.

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