mammadon Posted February 11, 2011 Share Posted February 11, 2011 I would like to start a business in the near future, and I know that the standard advice is to do something you love and enjoy. The thing is, my main hobbies are soccer, cookery, marketing, politics/economics, and computers/cell phones. Most of these industries are highly competitive, and not something a small start-up could compete in (barriers to entry and such). How could I use my interests to produce a viable start-up? Link to comment
sidehop Posted February 11, 2011 Share Posted February 11, 2011 Are you looking to provide service, products or both? I'd research the competition in your area & online who will affect you both directly & indirectly with any ideas you have. Just because you feel it's highly competitive doesn't mean you can't have your own niche market. If you're in the US, take advantage of the non-profit organization called SCORE. They can guide you with any ideas you have and you'll be able to talk with ex CEO's and executives one on one free of charge. Very valuable service you can't miss. link removed There's a lot to cover in just the planning alone but that's where I'd start looking. Link to comment
Mercurial Girl Posted February 11, 2011 Share Posted February 11, 2011 Grocery shopping and meal prep/cooking in a client's home? You need to be creative and find the idea for a viable start up for yourself rather than pick from a list of potential businesses, especially when the market is over saturated. Create a business, product or service for yourself that does not yet exist, market it correctly and you will succeed. Link to comment
mammadon Posted February 13, 2011 Author Share Posted February 13, 2011 Thanks for the comments. I have an idea for a restaurant, but I need to conceptualise the idea more before I evaluate how good it is. Link to comment
eternalsunrise Posted February 15, 2011 Share Posted February 15, 2011 Thanks for the comments. I have an idea for a restaurant, but I need to conceptualise the idea more before I evaluate how good it is. Wow! Good luck with your restaurant idea. I've always dreamt of opening a restaurant. That would be so wonderful to do. I love cooking and seeing how happy ppl are with my dishes. What kind of food are you thinking of serving? I'd love to hear more about your plans. My favorite foods are all kinds of spicy asian foods...I've dreamt of having like a fusion restaurant of some kind... Link to comment
mammadon Posted February 17, 2011 Author Share Posted February 17, 2011 Perhaps an all you can eat restaurant, though I'm not sure which cuisine as yet. Link to comment
hrtlsngl7 Posted February 21, 2011 Share Posted February 21, 2011 If you enter a niche market that no 1 else is in....you have 100% of the market and thus no competition, therefore you get 100% of the potential money 2 be made. Link to comment
Squiggy Posted February 21, 2011 Share Posted February 21, 2011 But sometimes having competitors saves you a lot of work terms of marketing yourself or just letting consumers be aware of the service/product. Ask yourself, say a regular Joe schmoe comes up to you with this great idea. What will it take for him to prevent you from continuing on your agenda? Same scenario but this time it's at a coffee shop. You are running late for an appointment, again there's only one barrista behind the counter and you are the fourth person in line. Joe Schmoe notices your thrist for coffee and offers you a card granting free muffin if you go to his coffee shop, just one block away. Power of marketing. I find it easier to find a competitor and improve it. Rather than starting from scratch, but then again I have no entrepreneurial skill but I'm very good at trouble-shooting. Link to comment
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