May 29, 2020  
 
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What It Takes To Be An Entrepreneur

 

Finding the Perfect Niche as an Entrepreneur

Written by Kathryn Lang for Gaebler Ventures

Finding the prefect niche as an entrepreneur starts with unlocking passion. A job that is enjoyed is no longer a job making the path to a successful business easier to walk.

Find what it is that you love to do then figure out a way to make money doing that.

Pursing a passion to profit makes work, play. Entrepreneurs that enjoy doing the things that can be turned into a profitable business will continue to be excited about going to work.

Discovering Passion

1. Make a list of all the hobbies and activities that you enjoy doing.

2. Add to that list all of the talents that you have.

3. Expand the list by including things where you have obtained skills or education.

4. Ask other people that you trust what they think you do better than anyone else.

Once you have your list, brainstorm. What jobs to you know about that put any of the items into practice? What businesses could be created around items on the list? This brainstorming session might work better if you include some of the people that you trust in the process. Be sure that you do not limit the possibilities at this time. The more the entrepreneur stretches the imagination then the more opportunities he or she will be able to create.

Take some time to review the ideas and research them in the yellow pages and over the internet. The market may be saturated already, but that does not mean there is not room for another view. It may also be that the market is yet untapped.

Do an informal market analysis to see if people are interested in the product. You can ask friends and family in the community, set up a booth at the local grocery store (with the store's permission) or run an ad in the local newspaper that includes an email or cell phone number.

Entrepreneurs need to hone the ideas for potential businesses by using the information taken in the market analysis and weaving that information into a plan that centers on passion. Once a vision is created, the entrepreneur needs to add specific steps for making the vision a reality.

Passion offers the best opportunity for happiness in success. Entrepreneurs that manage to capture passion and mold that passion into a business will continue to grow in excitement about the business. The more excitement exists in a business then the easier it will be to push forward into success.

A saturated market does not mean that a unique niche has not been left undiscovered. An untapped market does not mean that customers are not searching for a niche. Entrepreneurs that begin the business process by discovering a passion will find that creating a niche for that passion will not only be easier but will prove to be more profitable.

Finding the prefect niche for an entrepreneur starts by discovering passion.

Kathryn Lang is a professionial writer and motivational speaker. She enjoys writing about a wide variety of business topics including youth businesses and finance.


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