Opinion on this Niche Please

11 replies
Hello all,

I would appreciate just a little advice here if you would all be so kind please. I am considering starting a niche digital business that focuses on people who perhaps just getting into online business or even are looking to open a brick n morter but dont really know where to begin. By bachelors is in business administration and I have always had somewhat of a passion for coaching new startups through the whole process of creating a business plan, perhaps an SWOT analysis if needed. Setting up a facebook page and starting the process of gathering traffic, that sort of thing.

Where I am not sure, is just how profitable a niche this may be. I am sure there are others out there doing or having done similar, So ii guess i am just looking for some advice on this idea please.
#niche #opinion
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  • Profile picture of the author Monetize
    Originally Posted by Ricky Brown View Post

    Hello all,

    I would appreciate just a little advice here if you would all be so kind please. I am considering starting a niche digital business that focuses on people who perhaps just getting into online business or even are looking to open a brick n morter but dont really know where to begin. By bachelors is in business administration and I have always had somewhat of a passion for coaching new startups through the whole process of creating a business plan, perhaps an SWOT analysis if needed. Setting up a facebook page and starting the process of gathering traffic, that sort of thing.

    Where I am not sure, is just how profitable a niche this may be. I am sure there are others out there doing or having done similar, So ii guess i am just looking for some advice on this idea please.


    If you think it will work you should give it a
    go. I would advise against setting it all up
    on Facebook though, because they could
    cancel you at anytime, which would leave
    your operation in disarray and cause you
    to lose all your contacts. Set up your own
    website and funnel people from Facebook
    and elsewhere to your own site and build
    your list of subscribers that you control.

    I'm not saying that you should not use FB,
    just don't let that be your main platform.
    You can start there, but you should setup
    your own thing as soon as you are able.

    If others are doing something similar, take
    some time to see what your competition is
    doing and don't re-invent the wheel. Just
    improve upon it.
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  • Profile picture of the author Jason A Clark
    I think it's a great idea and well needed. The resistance I'd guess you'd get would be in getting people to pay for your services. New businesses, small businesses, and entrepreneurs clearly need and could use the help you could provide, however, they are also the least likely to understand the value of what you're offering (in general).

    I think if you could take on one or two clients (for free maybe?) and use them as the poster children of what you want to do it would probably go a long way towards convincing others.

    You still get resistance on price even if they think you can help them because many of them will only see the expense and won't fully believe it would be worth all the money they spend.
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  • Starting on Facebook is also cool. Just make sure to give value that can draw people to you.

    Also, try to work for FREE for maybe 3 people and practice your expertise with them.

    Help them build their business from scratch and tell them to give you a video review as testimonials in return.

    It is this testimonials that you will show people and make them trust you.

    If you just go out there and keep saying you're good in building business without practising it.

    People won't take you serious. So, start helping people either on social media or a family member and get testimonials from them.

    I hope it helps.
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  • Profile picture of the author brettb
    Once the covid lockdowns end there will be masses of vacant bricks n mortar stores.


    Find out what to do with them and you will make bank.
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    ÖŽ FindABlog: Find blogs to comment on, guest posting opportunities and more ÖŽ




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  • Profile picture of the author savidge4
    Originally Posted by Ricky Brown View Post

    My bachelors is in business administration and I have always had somewhat of a passion for coaching new startups through the whole process of creating a business plan, perhaps an SWOT analysis if needed. Setting up a facebook page and starting the process of gathering traffic, that sort of thing.
    Based on the information above... would it not stand to reason that YOU are the person most qualified in the room to answer the question you ask below?

    Originally Posted by Ricky Brown View Post

    Where I am not sure, is just how profitable a niche this may be. I am sure there are others out there doing or having done similar, So ii guess i am just looking for some advice on this idea please.
    I personally break things down into 3 categories. My "3" are Love, Passion, and Mistress. Love for me is Family. Passion is things I ENLOY doing, and can look 5 years down the road and envision myself doing whatever it is. Mistress for me is motivation... Mine just so happens to be music ( shout out to Eric Church and his song "Mistress named Music" )

    In my instance Love and Passion translates to Family and Work, and there is obviously a balance that has to happen there. At 50 some years old I can tell you that balance is a very hard one to strike if you just so happen to "Love" what it is you do. I am married to my business... and 2 divorces later, I can tell you from personal experience I am still learning to draw a line between Love and Passion. but I digress...

    The fact that you have a "Passion" for helping new start ups should be an indicator that you can see yourself doing this 5 years from now and it sounds like maybe you were doing it 5 years ago. YOU are already far ahead of most. YOU have an education, and experience which translates to what some might call "Authority" on the given Niche... Again a huge plus. Without as much as a blink of an eye, I will say it is only YOU that is holding this back.

    In terms of a business you have generically 3 sub categories to work with. You have a new brick and mortar, you have an existing brick and mortar wanting to create an online footprint, and then you have an online business. I am sure you are aware that these are all very similar in terms of preplanning and execution, but the content itself is best served in context to the desired audience.

    Would people buy blueprints to guide them through the separate process'? The answer would be a resounding YES. Better yet would they buy a book and a package of resource material? and I think again the answer would be a resounding YES.

    So the next obvious question would be how many would buy? if we look at ( https://www.amazon.com/How-Sell-Amaz...ustomerReviews ) and we see that it has and 800+ rating... PEOPLE WILL BUY.

    Something to keep in mind moving forward... YOU are college educated in BUSINESS... I personally kinda do the same thing you are suggesting... but your average user may not be up to speed on the language that you or I might use IE SWOT. Get in the habit of using the term / acronym , but break it down afterwards. SWOT ( Strengths, Weaknesses, Opportunities, and Threats ) analysis can be a useful exercise in better understanding your business and its needs Its just a good writing habit to get into.

    Hope that Helps!
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    Success is an ACT not an idea
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  • Profile picture of the author tnob
    Originally Posted by Ricky Brown View Post

    Hello all,

    I would appreciate just a little advice here if you would all be so kind please. I am considering starting a niche digital business that focuses on people who perhaps just getting into online business or even are looking to open a brick n morter but dont really know where to begin. By bachelors is in business administration and I have always had somewhat of a passion for coaching new startups through the whole process of creating a business plan, perhaps an SWOT analysis if needed. Setting up a facebook page and starting the process of gathering traffic, that sort of thing.

    Where I am not sure, is just how profitable a niche this may be. I am sure there are others out there doing or having done similar, So ii guess i am just looking for some advice on this idea please.
    I would definitely recommend looking for competitors that are doing what you want to do or something similar. Identify what they are doing that works well, and figure out how you will differentiate yourself from them.

    There are tons of websites/companies out there that are doing something very similar if not identical to what you are describing. The potential for profitability of such a business most definitely exists. How you differentiate and add value with the content/services you provide will be up to you to see how high that profit can go.
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  • Profile picture of the author GordonJ
    First, Ricky, read savidge4 post carefully, he operates several successful businesses and is speaking from experience, you won't go wrong following his advice, OK?

    Then, he raises a question I had too. Aren't you the most qualified here to answer the question, I mean, have you done a SWOT for yourself?

    And in addition to SWOT, there is SOAR, MOST, heptalysis, CATWOE, and another dozen or so tools to ANALYZE a business startup. It is a crowded field.

    ENTREPRENEUR was built on start up guides. There is NOT a shortage of experienced business owners who offer advice and consultation to people wanting to start a business.

    How will you compete with them? What has been your start-up experiences? Without knowing more about your background, this sounds like a tough nut to crack into, unless you offer something no one else has. Do you?

    You can easily test the market by offering a low cost guide, and again, you'll be competing against thousands of established marketers on this. You might be better off with some PLR and build a list from that and get feedback.

    I don't see it happening for you Ricky, but I could be wrong.

    GordonJ

    PS. When I confer with people interested in starting a new business, I use the NPGS formula, NET PROFIT GENERATOR SYSTEM, with its four parts.

    PRODUCT
    PROSPECT
    PROMOTION
    MEDIA

    Your product appears to be knowledge, right? WHO is the prospect? These days we call it the avatar, who will buy your knowledge?

    Why from you and what other options do they have to buy this knowledge elsewhere? HOW do you reach them where do you intersect with them and what do you offer when you do intersect?

    You have a commodity for a product; common, ordinary, readily available, mountains of competition. You will compete with established marketers like ENTREPRENEUR and DUMMIES and SCORE, etc.

    It is going to take a lot of time and/or money to get a foothold in this arena, if in a hurry, you might consider something else, but as with savidge4's PASSION index, you might want to be doing this in 5 years, so what are the steps you have to take today to get to the place you want to be in 5 years and a truthful answer to that question will show you a very slow starting process, so hopefully, profits or rather the lack of them, shouldn't worry you.




    Originally Posted by Ricky Brown View Post

    Hello all,

    I would appreciate just a little advice here if you would all be so kind please. I am considering starting a niche digital business that focuses on people who perhaps just getting into online business or even are looking to open a brick n morter but dont really know where to begin. By bachelors is in business administration and I have always had somewhat of a passion for coaching new startups through the whole process of creating a business plan, perhaps an SWOT analysis if needed. Setting up a facebook page and starting the process of gathering traffic, that sort of thing.

    Where I am not sure, is just how profitable a niche this may be. I am sure there are others out there doing or having done similar, So ii guess i am just looking for some advice on this idea please.
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  • Profile picture of the author Atif Anis Khan
    After the whole pandemic saga ends, this will look pretty good in my view.
    And also if you are confident and have knowledge about the thing you want to do, then go ahead do it.
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  • Maybe you can niche down your favorite top 3 niches, which might give you the motivation to build in long run.

    Then do some survey is there anyone doing similar niche successfully, if yes you can consider it as case study and model accordingly..

    What do you think?
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    I build high-converting landing page to attract sales and increase brand awareness : https://www.convertmission.com

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  • Profile picture of the author allegandro
    in my opinion, this niche is GOLD, if you are good and can deliver.

    many people walk around with ideas to start, they are good in what they do but just are missing the skills to create a solid plan. This doesn't mean that they are bad entrepreneurs, so their quality is just not writing that plan.

    If you can sit together and put their ideas into a plan that they can take to the bank or an investor, that has real added value.

    And if I would be you, I would ask a little fee and the rest in shares or options.
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    Struggeling with multiple supplier feeds?
    DoeeX solves it!
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  • Profile picture of the author Chris Ditfort
    Hi Ricky,


    Any idea is not a bad idea. The first question would be: Have you successfully started a business and succeeded? If yes: Go for it. If no: Why not start a business and make money and be successful first. You will do much better in this niche if you are a living example.




    Originally Posted by Ricky Brown View Post

    Hello all,

    I would appreciate just a little advice here if you would all be so kind please. I am considering starting a niche digital business that focuses on people who perhaps just getting into online business or even are looking to open a brick n morter but dont really know where to begin. By bachelors is in business administration and I have always had somewhat of a passion for coaching new startups through the whole process of creating a business plan, perhaps an SWOT analysis if needed. Setting up a facebook page and starting the process of gathering traffic, that sort of thing.

    Where I am not sure, is just how profitable a niche this may be. I am sure there are others out there doing or having done similar, So ii guess i am just looking for some advice on this idea please.
    {{ DiscussionBoard.errors[11657433].message }}
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