Some of us have a Passion for Growing Wealth...and that is why we focus on "businesses" realting to that which we enjoy... Our businesses could be considered a Hobby by many..because it seems so much fun and effortless to most. But all is carefully planned and put into Action....the money naturally follows
Hi, I know lots of people who have passions for things that no one else cares about (I have many myself). Business, is about making money. Making money is about transacting a product and service with someone else (money is just a currency for transactions). If you know enough people, or can find enough people who care to transact with you about your passion, you are fine. However, you better be sure there is a market, otherwise your business will fail. Business has nothing to do with passion. It has to do with finding someone else to transaction (trade) with, in an amount that is worth your while. That is why I think passions and businesses should be separate, though at times they may overlap. However, when I passion turns into a business, funny things often happen. Such is life. Rich
I'm going to disagree with you. I think that passion and business should overlap on a very core level. If you are not passionate about the product or services you are or intend on providing how are you ever going to survive the many problems that are going to arise? Something is bound to go wrong -- It is through passion and belief that you keep yourself motivated to conquer these problems and move your business forward.. On the other hand, I agree that unless there is a market for the product or service, then the business has a very large possibility of failing. I wouldn't go as far to say that they are definitely going to fail because consumers/retailers can be educated and in the end markets do start out somewhere. All it means is that money may need to spent on educating the public (and this has happened many times throughout the course of some very popular items -- tampons for example -- one of the biggest hurdles tampax faced was educating women/doctors/pharmacists/retailers about the use of tampons, the products safety, conveinence, etc). I suggest reading the book The Big Idea: How Business Innovators Get Great Ideas to Market (By Steven Strauss) as it is VERY interesting! Would someone spend so much time and effort trying to establish a market if they didn't believe in the product/service? Probably not. Business is definitely about money and turning a profit, but I honestly believe that if you do not have passion for what you are doing as a business then that will ultimately be reflected in your business' overall financial position. To the original poster: A blog is a difficult business because your readers will continually be looking for new content to read about. This places a lot of stress upon you because you will have to be continually writing. You could go out and pick the most profitable niche that is known to the internet world.. but what if you don't like the topic? How do you expect to keep yourself motivated to write? So what do you do if you want to make money through blogging? You read about many different subjects and then you find one that really peaks your interest... you keep reading and you start writing your ideas and thoughts down..through this process you learn.. and then you start passing off your knowledge/opinions to your readers... what you are essentially doing is creating your own niche that you can keep going because it interests you.. will it be profitable? well... will you keep learning, writing, and tweaking while keeping your readers in mind? I can tell you for sure that it has a better chance of being profitable than the topic you would have chose that does not interest you at all! =) Best of luck!
My life has always been my Passion... It is who I am.... My businesses are my Own... Therfore the two are one. I give all I want... There is always a "market" for that which others seek. Daily....there is a flow of prospects. The end reault is those who can give themselves permission to be Who they are, will duplicate the Passion and Commerce. I have never met a Successful person who did lead with their their Passion...business success naturally follow. Been working for me, and my MasterMind Alliance, for almost 50 years
Hi, I know lots of successful business people (very, very successful) who became successful by understanding markets, trends, and people ("consumers" - ugh, what a term for humans), and providing them with good services and/or products. I know others, who are extremely successful, because they know how to "cheat" and get away with it (this is one of the best ways to make money). Others, understand that one way to make a market is to sell additive substances (e.g. coffee, pharmaceuticals, online games, etc.). In all cases there has to be a "market". Now, for passions. I know lots of "starving artists" (literally). I know there are lots of books, selling "dreams". The people who are making tons of money selling this idea, understand their market, and to a certain extent are making money selling ideas that they themselves don't really buy into unless their passion is "fooling people" (which it may be). Find a growing marketplace, bring in new ideas, understand your customer - then you have a business. If it is your passion, then fine. If it is not - well then there is something you love to do after-business time is over. If you can do both, all power to you. But the place to start is the market, not what one "has a passion to do". Rich
Rich... I follow you thoughts well. Each to his own, My mentors were gentlemen who led and grew their businesses because of the their Passion...the products evolved from Imagination and the financial reward was there because of the burning desire to share. I have seen many successes come and go...most died because of the lack of Passion...not a lack of marketablity. Thier foundations were built on the shifting sands of avarice and whim. As a youth I listened to the likes of Walter Knott and Disney. They had a passion for their concept and idea, believed it would happen and in some ways created the Market. I concur with your points... Many operate under those principle outlined.. Just isn't my way... Never been hungry Never had a schedule other than my own Been Broke several times because of influences beyond my contol (weather mostly)... Since we had a solid Business foundation all repaired quickly... becuse of the burning Desire to create
Market research is very important in niche marketing. If you want more info, I suggest you download the free guide here. It will tell you everything you need to know about market research without breaking an arm and a leg in software costs. nicheinaboxprofits.com
A couple of years ago was teaching some undergrad college courses and ran into a professor that was doing research about how entrepreneurs come up with ideas. I became very interested in the topic and, after she left to go teach somewhere else, I kept studying all the research in that area. I built a course around the ideas I learned - a process for generating new ideas, but I found it very difficult to sell. It takes 30 days or more of consistent work, and people don't want that. They want instant ideas. They want to buy an idea, not a course that helps them develop one. I discovered this because I had a "business ideas" category on the site blog, and it was BY FAR the #1 thing people clicked on. Anyway, I'm revamping the course to try to figure out some way to make it more instantly gratifying. In the meantime, if any of you would like to try it, PM me your email address. I was selling it for $99 and the few people that went through it really enjoyed the course. I'm willing to give out 5 or 6 of them just for the feedback. Rob
Rob love to see the material...don't know how to PM but call me and I'll give you my E-mail Your content may fit into My NEW Memebership site Launching October 1st 530-798-0245
I found this blog extremely original and have bookmarked it . http://www.seoprotoolz.com/profitable_niches_in_under_10_minutes
I see alot of success stories where people succeed at something they DONT love...then they take the income from that and do something they love..for money or not... You dont HAVE To have passion to make money with something. You just have to have KNOWLEDGE about it. Passion only helps..
Yes, I would agree. Knowledge (or the ability to acquire the knowledge) I think is the key to implementing a sound business strategy. Rich
I like to look at the SRDS to find profitable niches. The acronym stands for standard rates and data services. It's a publication put out for people in the mail order industry who want to find mailing lists to rent. You can look through a copy at some libraries. Usually, it's carried only by larger libraries like university libraries. It lists different niches and other data for those niches like the number of buyers for a certain product, how much they paid for that product and how large the mailing list is. There's a good chance that you will be able to generate good income in a certain niche where there are proven buyers with disposable income. The SRDS lists all that information for you. You just have to look at it and create a product for people in that niche market.
Thank you for the reminder of a very worthwhile resource.. I have forgot how effective that research can be. It was a mainstay of research a few years ago for our Marketing businesses.
I prefer to do it the old fashion way. Manuall reseaarch but I suppose "keyword elite" could help you.
Research it. Use sites like Ebay Pulse, Yahoo Groups, Google Groups, etc., to find out what people are talking about. When you find some useful ideas, check them out on Google Trends to see what's happening in that niche.
it's not easy. and you don't sit down and think of a niche and go. Through out my entire day, im constantly thinking about different businesses and niches, and communities and resource sites that could be built around them. I keep a list in my PDA. I have probably 200+ ideas that i don't have time for right now. Once you learn how to think about niches, you'll have more than you can handle, then just sort out the overlysaturated and low margin niches, and attack.