Becoming an entrepreneur sounds great on paper, doesn’t it? You get to be your own boss, give yourself an impressive title, set your own hours, and reap the rewards of whatever success may come to your business.
Of course, before you get to enjoy all the potential upside of being an entrepreneur, you’ve got to put in the work and overcome the obstacles that present themselves. But even before that, you have to actually set about creating your business, and figuring out which niche is right for you.
Here are a few tips for finding the right entrepreneurial niche for you.
First and foremost, ask yourself what you like and find interesting
This is a pretty straightforward and intuitive mental exercise, but the first step in figuring out what sort of niche you should go for as an entrepreneur, is to ask yourself what you actually like and find interesting.
Various people have suggested, over time, that you don’t really need to “enjoy” what it is you do, at the outset, because you’ll come to like it down the line.
Ultimately, though, there is definitely a bit more security and initial motivation at the very least, if you pick a niche that you actively appreciate rather than one that you actively hate.
So, sit around and spend some time visualising your ideal working arrangement. What sort of work are you doing in that ideal scenario?
Figure out how your existing skills can be combined and leveraged into something with a unique edge
One of the most important things for any entrepreneur to get right, is to develop a unique voice and angle that sets them apart from the competition, and that offers some potential benefits to their customers, that they can’t easily find elsewhere.
Fortunately, you don’t need to be the next great innovative mastermind in order to make this happen. You just need to leverage and combine your existing skills and interests into something with a unique edge.
So, sit around and figure out just how your existing skills and interests can be combined in that way. Maybe you’ve worked as a copywriter, and also dropped out of med school. Perhaps this puts you in a great position to provide a service offering medical articles and newsletters, for professionals in the industry?
Investigate topics that interest you, and see how much you can learn on the go
One good practice when trying to identify a niche as an entrepreneur, is to investigate some of the subjects that you find interesting (but don’t necessarily know much about), and to then see just how much you can learn about them, on the go.
Neconnected.co.uk, for example, provides plenty of information about topics such as forex trading. And for the various entrepreneurial niches that may require a certain refinement of your existing skillset, you can often find correspondence courses, online seminars, and other effective ways of getting your foot in the door.