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How to have a good business idea in a niche without having worked in the niche?

by Michael Waters
2 replies
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Often I hear through the grapewine by people working in certain businesses that outside competitors had no way of succeeding in this niche. This was due to internal networking in the company. Neither would they get into the company, because jobs were spread internally, nor could they compete due to unfair advantages like knowing the right politicians, having the financial means to influence them. Also not to forget the huge information advantage big companies gathered over time.
In my experience, most companies whose founders were previous employees created sustainable businesses, whereas those who were total outsiders hardly made it. But they also couldn't get internships due to internal spreading of jobs of any kind and friends and family.

How is it possible to have a good business idea in a niche without having worked in the niche as an intern or employee?
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  • Profile picture of the author Ruth Inyama
    Well, I think it's quite possible when passion is the drive. You may not have literally worked in the niche as an intern or employee, but may have generated interest along the way by coming across it in a book, social media, TV or anywhere else
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  • Profile picture of the author Odahh
    Well you may not want to here this . But the thing that generally works is not the good or great idea it is aiming for what is essentially doing the stuff in a nice that established companies make almost no profit doing ..and somehow tunning your overhead so you make good profits for you and your business

    What you mentioned does happen so starting out you do not want to compete you want to kind of position yourself as a subcontractor there to do the garbage work
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