Know-How Exchange : Other

Recession is going on but there are some fields which are shining like anything....

1. Digital Marketing
2. Social Media & Networking
3. Pharmeuciticals
4. Kidz Branded Products
4. Retail Merchandizing
5. Clinical Research
6. Commodities Companies
7. Hospitality

Else guru you have to think according to your liking and resources... do you are best in... its important to work hard on your strong points dont waste time on your weak points.

Spread Smiles :)

There are several issues, such as things that you might like to do, or things that folks might want to pay you to do, or things which could be profitable...

... but another perspective might be, what are you good at?

One technique which has been suggested to me in the past is to take a piece of paper, and to make a list of those times in your life when you have received public recognition for things you have done. Have you received any awards, or commendations, or prizes for work you've done the past (maybe in school, maybe from a club or organization, maybe in business)?

Such an exercise may help you identify some things you are very good at, and this process might suggest some ideas for a business venture. Good luck.

The best business to run is where you see a need that isn't being filled, and then find a way to fill it in a way you enjoy and can make money at.

If you don't have an idea yet, you can take ideas from others and run with them, such as by opening a franchising.

You may want to read magazines like Entrepreneur (https://www.entrepreneur.com/interstitial/default.html) and Franchise Times (https://www.franchisetimes.com/) to see what others are doing, and also learn tricks that help entrepreneurs.

If you want to offer a successful service or product in your business it really comes down to two things:

1) what are you good at
2) what do you like doing.

The first guarantees expertise and a competitive product or service, the second guarantees commitment.

Answer those questions and you are half way along the way.

The second question is: who is already offering similar services? Then find out what customers in general like about the offerings, feel neutral about (don't care if it was part of the offering) and what simply annoys them about the product or service. Then find ways to include in your offering what they like, ditch what they don't care about and see if this enables you to be cheaper or more efficient and root out those issues that annoys the customer.

That should leave you with a very competitive product.

There is much more to do, as finding ways to clearly communicate your proposition (with a cohesive brand, a clear and consistent message and a presence in those 'places' where your target group hangs out), etc.

Hope this helps to get you started...

You might want to read, "So You Want To Be An Entrepreneur?" by Jon Gillespie-Brown

I interviewed him for an episode of my TV series ("Business With Passion"): https://www.manygoodideas.com/2009/02/25/business-with-passion-jon-gillespi...