I`m a business student at university funding myself through my studies which to say the least is not easy. I`ve been struggling for a while and I`m very much in the vicious cycle of working just to pay for uni and living costs whilst I slowly erode whatever small savings I have. I do work as much as possible around ym study times but the reality is with living costs in this country (Australia) its not easy being at the low end of the market.
I actually sat down and mapped out my costs of uni and living against my weekly earnings and the result was pretty astounding. Even if I was working at my max available time I would still be struggling and chewing into my meagre savings.
So I guess I really don`t have to many other options available to me but to look at starting a business where the opportunity to be rewarded is a little better. Now I know there are no guarantees and that small business works a heck of a lot more than what I would BUT at the same time there really isnt a MAX cap on your income. It really comes down to your specific industry and the energy you are wishing to expend.
Anyway, so I`ve had a look around at alot of different opporunities and because i`m rather web savvy with coding skills I would like to look at something online. After doing a little research it appears that most all of the segments that I look at are severely saturated with entrants or they are very competitive.
I have a look at a variety of industries and everytime I find something that fits my skillset and that I like that it is heavily saturated or controlled by a few big operators. As google seems to be the leader in search engine traffic, looking there is enlightening when you see the vast amounts of effort which it would take to reach a reasonable height. It makes it very difficult as a start up to compete.
I inititially looked at content rich adwords sites but i`ve since discovered that every man and his dog have set them up and yet again its extremely competitive to even make a living at it.
I seriously considered ebay australia but after a few test runs I was pretty dissapointed. There seems to have recently been an influx of large importers and chinese manufacturers that are dumping goods on Ebay Australia at prices close to or less than what I can buy them. Even when I`ve sourced product direct from china and abroad its difficult to compete. And once I factor in the Ebay Fees and postage costs my margins are paper thin if not negative.
At this stage I`m a little disheartened as after spending a LONG time looking online I`m yet to find a reasonable market to approach. I guess i`m looking for the following (arnt we all :) :
Low cost of entry
Segment not Saturated
Time to profitability in the 2-3 month period
Online based or at least sales based online
Biz opp that I can work and manage from home
This is probably an unrealistic wishlist but i`m just feeling kind of depleted today and would appreciate any advice that anyone. If someone has any ideas to throw out no matter what they are I would be indebted to you.