In our present day world it is no news that only small minds with small visions depend on just a source of income.
One of the greatest deceit or I dare say lie told to students and the younger generation is read, concentrate, pass your exams a good job awaits you.
This has killed the venturing spirit of some people. Making them think anybody owes them a job on coming out, just come out with a good grade they always say. but how real is that promise in our today economy?
We go to school to expand our brains, be able to think out things easily not
necessarily to make ends meet
Diversify, do something else
Let's look at starting a business
Firstly CHOOSE A NICHE MARKET
This is a subset of a larger market where singular and specific needs are identified.
For example you say you want to focus on education sector, is it the primary, post primary or tertiary sector?
Break it again if it is primary what are you doing for that sector is it supplies of their uniforms, their badges ,lunch boxes. U need pick a niche so you re distinguished .
Now in picking a niche in business some might pick what they like but I dare suggest you pick what needs are in the market. Because unless you position yourself as a solution to the needs of others , to their problems, you can not attract money
If you solve just a man's problem. You go back to poverty when he is gone,
So in essence the niche you create is for people
The number of people you provide solution to determines how rich you will be.
WHAT MAKES A SECTOR ATTRACTIVE TO CHOOSE
1: Consider the number of potential customers if little or one person drop it
2: How much are people/customers spending on that niche/sector
3: Look at the problems faced by the people of that niche you intend venturing into list them one by one
4: What product or service can you make available to them
5: Type and cost of getting your target customers
6: Do you have any interest or knowledge in that niche?
7: What is the competition level, I.e how many people are dragging the market with you.
What you know and what you like is not necessarily first criteria for starting a business, go around, look for a need, not your need, and it mustn't necessarily be what you like, pipe down a bit on too much likes and dislikes.
In all the whole aim of starting or going into a business is to make profit. Ensure you choose a profitable niche.
