I’m exploring the idea of starting a startup - I have no business ideas now, just a handful of niches I'd like to learn more about, and not much spare time. If I want to optimize my chances of startup success (users, $$, etc.), which factors should I consider most important when choosing which niche would be best to explore? So far, I'm hearing: - Verticals I'm passionate about - Verticals that are rapidly growing - Verticals that require Subject Matter Expertise I possess. - Verticals that are not attractive/sexy (ex. dating apps) and therefore are overlooked Are there any other factors to consider?
I started offering vertical/niche targeted, high speed hosting recently. A group of us formed an agency. Really all the technology is generic - high speed hosting, Ontraport integration, buying traffic (Outbrain/Taboola/Facebook/Google) then providing messaging targeting specific verticals/niches.
For a good chance of success...
1) Inventory your skills.
2) Inventory niches where you have expertise.
3) Do an intersection of your skills + niches + whatever your niches pay the most for each month.
In our agency case, each principle had a specific skill set, which produced good synergy with other members.
This is a another consideration. If you come up with three high dollar items your niches pay for each month + you only have expertise in one item, joint venture with other people who possess these other skills + create an agency.
Answered 6 years ago
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