Don’t Go Into a Saturated Niche
I used to think this kind of advice went without saying, but as I see more and more crappy web hosting businesses popping up throughout the internet, I wonder just what people are thinking. There are already soooooo many hosting businesses out there, the quality, and the crappy. Most people are already with the good hosts, such as Bluehost, HostGator, LunarPages, and DreamHost. So, what is the purpose of creating yet another business in a field that already has it’s share of crappy ones, especially if you are going to do a crappy job with yours. If you are going to start a business, stick behind it, and put forth 100%, otherwise yous will end up in the gutter with the thousands of others that did the exact same thing that you did. I mean, look, if you want to create a high quality web hosting business, with top notch customer service, by all means, please do it, but don’t overextend, and don’t give up. Business is slow for all new businesses, it’s just cliff you have to climb, and you’ll never get to the top if you give up.
Most upstart businesses that die off real quick are in already saturated niches anyway, becuase there’s no concievable way for them to compete with the giants of the business. So, what’s the solution? Simple, find another niche. There’s a ton of business opportunities out there, but you have to be willing to look around and find them. Personally, I just found a great business idea, that I’m working on capitalizing. Of course, it’s in a very unsaturated niche, where most of the businesses in it do a crappy job anyway. This is the type of opportunity you need to look for. If you can find something like this, you’ll be a rich man (or woman) down the line, because you found the demand, and created the supply for it.
If you enjoyed this post, make sure you subscribe to our RSS feed!
If you’re local small business, you should stay local, and small. especailly in this time of recession. There are many businesses that are going out of business because they have overextended throughout the time of prosperity. They started offering more, and more services, which became more, and more outside of their original scope. A good example of this is Circuit City’s Firedog. Needless to say Circuit City is out of business now, and no it’s not ALL because of Firedog, but one has to wonder how many people actually used their service. So, if you’re a local bakery, it’s not in your best interest to advertise in newspapers outside of an hour or so. If you’re running a web design business, it’s probably not a good idea to hire a coder, unless many people have asked you for coding services. Just because you think it might be more convienient for your customers, you have to think about supply and demand. If there’s no demand, don’t create the supply, because creating the demand is hard work, and it normally takes up time that you don’t have. Instead, you should look at supplying the demand that’s out there, which is this case, is only your design. Just remember, business is all about economics, which is all about supply and demand, there should only be a supply if there is a demand.
Recent Comments