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Topic: Our Forum

Help With Identifying A New Business Opportunity

Posted by sjohnp on 7/28/2010 at 10:17 AM ET 250 Points
Okay members this post is probably pushing the boundaries a bit in terms of what the whole site is all about, but here goes. In the past I've used the forum to help clients with their marketing and communications problems. The responses I've had are often illuminating and incredibly helpful and reminds me all the things that are going on outside of my bubble.

Having been made redundant about three months ago I'm now thinking of using some of my payout and savings to start my own business and thought the forum may offer some sparks of inspiration and experiences from other people you may have encountered. Yes, I trawled the internet and looked at a great many sites and attended various trade shows but just wondered if you have come across any ideas (products, services or franchises) that may have been imported to your country and have worked or exported to the UK and worked. Alternatively, what products/ideas have caught your imagination recently and brought a smile to your face? The ask is a big one but welcome any feedback, thoughts or new avenues you feel I should explore. Many thanks Jon
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RESPONSES

  • Posted by Gary Bloomer on 7/28/2010 at 9:58 PM Accepted
    Dear sjohnp,

    What thrills you? What are you passionate about? What lights up
    your life and drives you nuts because to you, it's not work? What's your vocation? What would you do for free?

    Answer some or all of these questions and you might be on a
    firmer footing. What did you always want to do or be before you
    got a "proper" job?

    Do you really need or want another job? Consider reading "The Four Hour Work Week" by Tim Ferriss, and "Crush It", by Gary Vaynerchuk, then regroup.

    Consider how you can reinvent your life now, and do it one YOUR terms. Ferriss turned a $40,000 per year job into a $40,000 per month business. But to do this he had to get fired from at least one job (possibly more).

    What tools can you use or can your learn about over the next few months to make yourself more visible?

    Think about social media, starting a blog, becoming the logical "go to" person for the niche you've always wanted to be known for.

    Right now you've got all the options in the world. Use them ... and good luck to you.

    I hope this helps.

    Gary Bloomer
    The Direct Response Marketing Guy™
    Wilmington, DE, USA
  • Posted by Harry Hallman on 7/29/2010 at 7:11 AM Accepted
    I second what Gary said. It is so much easier if you find something you love, and know about. Do you have any hobbies you can turn into a business?
  • Posted by sjohnp on 7/30/2010 at 12:05 PM Author
    Thanks for comments and thoughts. I have now ordered both books and certainly found info on Tim Ferriss interesting and assume the overall concept is you can work much less if you minimise distractions and focus on the 20% of things that create 80% of the results? With regards a note from Karen my previous work was helping large and medium sized companies publish customer based magazines which was quite a hard sell. My hobbies outside of work involve triathlons and coaching kids with various sports. I've often thought the idea of being invloved in property and have a keen interest in the enviroment, energy conservation and eco homes. However, not sure property and eco homes are the right move just at the moment. Anyway, hope this helps and interested to hear what else you might add. Thanks and have a great weekend
  • Posted by Jay Hamilton-Roth on 7/31/2010 at 9:43 AM Accepted
    Why not specialize in marketing amateur sporting events?
    Or, if local banks offer energy-efficient home loans, put on series of presentations on eco-homes (sponsored by the banks)?

    Keep working on trying to connect your professional aspirations to your passion - it'll serve you in good times and bad. I produce the TV series Business With Passion (https://TV.ManyGoodIdeas.com) where I interview people who've transformed their long-term passion into a successful (and visually interesting) business. As my guests show, there's a huge range of opportunities, and very few of them are the ones you find in the "jobs wanted" section of the newspaper. Perhaps one of my many diverse guest would inspire your next professional move...
  • Posted by Levon on 8/3/2010 at 12:18 PM Accepted
    There has been a surge in support of MLS Soccer in the U.S.A. The sport is growing even though pundits have traditionally put the sport down. Seems like there would be some opportunity there for someone with a background in Sports Marketing.
  • Posted by sjohnp on 8/10/2010 at 5:51 AM Author
    As suggested by Gary Bloomer he recommended two books worth reading, "The Four Hour Work Week" by Tim Ferriss, and "Crush It", by Gary Vaynerchuk. i have only read the Tim Ferris book so far but just wanted to add to all potential 'entrepreneurs that 'Make a Million before lunch' by Rachel Bridge is worth a read. As a way of seeing what's going on in the high street I spent the whole day just wondering around to see what was going on and what shops were busy. Apart from the the obvious clothes shops doing well in the 'summer sales' one shop doing a good trade was a small 'traditional' sweet shop. Having looked on the internet the interest has clearly taken off with a wide range of sites offering sweets from the past. The product is non perishable, can be sold in small and large quantities and is clearly fun.

    If it can work for this sector I then asked myself what else is catching on i.e what/if anything has caught your attention/interest when strolling around a shopping complex and brought a smile to your face? Last question on this, promise and interested to hear any thoughts.
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