4 ms·
Starting a lifestyle business will for sure take you a lot of energy in the coming years. There will be time when you want to give up. In those hard times thing
by B-Scan 15y ago
Starting a lifestyle business will for sure take you a lot of energy in the coming years. There will be time when you want to give up. In those hard times things are easier if you are doing what you love.
I think that choosing a niche is better if you are solving a problem in the area you have a knowledge. That could be your big asset [1].
What are your hobbies? What do you like to do?
Many niches are very saturated. That doesn't mean you should give up. If you have something that your competition didn't solve good (or at all) there is a place for you. Your competency in certain area will help you beat them. Even if you take a small fraction of their pie, probably it should be enough for your lifestyle business.
OTOH, if you are looking for non-saturated market and find it, you can ask yourself is there any money in that market? Is it worthwhile?
You can find it is, but do you like that market? Do you know anything about it?
My point here is do what you love and money will come after years of hard work.
[1] http://faso.com/code618/34150/how-my-lifestyle-business-became-a-startup http://faso.com/code618/34150/how-my-lifestyle-business-beca...
- aymeric 15y ago"do what you love and money will come after years of hard work" I think you would increase your chances of success dramatically if you would just look to solve problems rather than trying to do something that you love. You would have a bigger variety of options (you can't LOVE doing everything), and you will feel less guilty when it is time to ditch an idea for another one.
- aymeric 15y agoWorking hard is not a requirement to success, it is a favourable factor. You'd better test ideas quicker and see which one sticks and then work hard on that idea once it has been validated. For each "we made it after 10 years of hard work" story, there are millions of "we wasted 10 years of our lives on the wrong problem" stories.
- B-Scan 15y agoOf course you should do what people need. But it's easier when you solve someones problem and you like what you do.
- aymeric 15y agoYes I agree with that. I used to develop Facebook games. I was making money but I lost interest because I felt I was wasting people's time. Since then I have decided to only work on "useful" applications.