You may have lots of ideas, many strategies, skills, options, information to offer for a business
BUT you are still in a dilemma about what niche to pick.
If I were to talk about myself, as an owner of a start-up I have faced all kinds of challenges in choosing the right niche for my business though being an MBA student I had knowledge of human resources, customer relations, operations, marketing, management & sales. Over the few years, I picked up a little bit of digital marketing skills since that was the need of the hour.
Usually, it helps to be a jack of all trades if you have plans to fly on your own and I have seen an uprising trend of picking up new skills especially in these challenging times.
So I guess the new X generation is smarter than us.
As a kid I am sure all would relate to this. You knew exactly what toys to play with, which friends you wanted to play with, or what your favorite food was. You were not spending months thinking about which dress to wear while going for a walk.
When it comes to picking your niche, the same rule should apply not to overthink but yes since you plan to invest your hard-earned money so you do need to make sure that your idea is in tune to your skill sets so that you are not dependent upon anybody else besides you.
Having said that I do have a few suggestions which could help you to save your time, money & a lot of your efforts:
Make a List of your Passions
Understand Your Worth
Recognize your strengths
Do not overthink
Choose from the options in hand
Don’t let go of opportunities thinking you will get better options later on
Now is the right time to start, what are you waiting for?
Do thorough Market research to narrow down your niche
You can start with trading before you directly plunge into production in order to test your niche
In the end, it’s all about believing in yourself and following your passion. As that will only lead you to embark on a new journey of originality and creating products or services which you wished existed.
Let me know in the comments below what struggles you have faced in terms of choosing a niche for yourself