Some people are born entrepreneurs, knowing that they want to be their own boss. You might have some awesome skills and be a great leader, but do you have a winning business idea? Choosing your niche is often the hardest part. You’ve got to balance your passions with reality and consumer demand. To help you find your business niche today, check out these tips.
1 . Define your passions
Before you can come up with your business idea you’ve got to define your passions. Perhaps you’re not happy in your current role? Realising that in itself is progress. When you’re looking to move in a new direction you’ve got to spend time figuring out what’s important. These questions may help you:
- What do I like about my current role (if anything?)
- How can I transfer these skills to start out on my own?
- If I could run any type of business (within reason) what would it be?
- Which of my interests gets me most excited?
- Which important cause do I care about the most?
- Could any of my favourite hobbies or talents be utilized as a business idea?
- Assess your experience
To figure out your business idea you’ve got to assess your experience to date. Which entrepreneurial skills do you have? Which industry would suit you best? Remember, running a business isn’t about doing everything yourself. If there are gaps in your knowledge and experience that’s fine. Assessing your experience will help you to understand what you can do, and which type of staff you’ll need to hire.
- Research market trends
Not sure which type of business to start? Begin by researching the market. Choose a trendy sector where there’s lots of demand, and start working out your USP! In 2021 there’s a huge demand in the wellness industry. From fitness products to self-care apps, health supplements and cookery subscriptions. One of the biggest wellness trends right now is CBD. There’s a huge demand for CBD products from creams to oils and vape products. Cannabidiol is a great natural product for people who suffer from anxiety or sleep issues. If you are interested in vape CBD products you’ll need to choose the right vape cartridge. There are a few options available including ccell or the blinc cartridge.
- Get inspired
Starting your own business is a challenging journey, to help you choose a niche you might need some inspiration. There are plenty of great podcasts to help entrepreneurs find their feet. To get started, check out Entrepreneurs On Fire, How I Built This, or Biz Chix. You’ll get plenty of tips here from promoting your business to project management.
Starting your own business is a crazy journey, you’ll need to be prepared to work really hard, and ask for support when you need it. When you’re figuring out your business idea you might find it useful to work with a business coach. With coaching you can set goals, and develop a roadmap to succeed.
Thanks for reading and y’all stay dandy.
-Diego
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