Identifying your niche

by a searcher from Purdue University

1 year ago

When you were first starting out in SMB, how much did you balance your passion and know how vs opportunities to acquire and roll up profitable businesses. 

For instance, not sure I’m crazy motivated by service based organizations, but if it were profitable would you let that deter you?

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searcher from Hillsdale College

I have owned a small business for 7 years now that was definitely not my passion when I started it (and still is not), but it has been a great learning opportunity and has made me money. Over the years I have identified that marketing and operational efficiency are the two things I really enjoy, so I focus on those in the business. You definitely need to enjoy what you're doing or you're not going to be as successful as you could be. I certainly enjoy making money, but I think it's important to figure out where the lifestyle you want and the $$ you desire can meet.

1 year ago | like reply | 0 likes

searcher from Western Illinois University

the book "buy then build" helped me wrestle with this. It led me to think about it not by the industry/business/niche type itself, but rather a vision of what I wanted my daily activities to look like. for example, I am oriented more towards operational execution. Even if a business was something I am personally passionate about, but the opportunity within the business was focused on sales/marketing, my day to day activities would be spent on things I didn't enjoy as much.

1 year ago | like reply | 2 likes

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