My suggestion is to consider what you love doing, maybe as a hobby or just for fun. I have found that if I do what I love, the work really isn`t work (sometimes it is, but often it is just fun).
If you think about what you like to do most often when you have free time, and do it regardless if you get paid or not... then I think you are on to a business that you are passionate about. Once you determine what you love, consider ways to make money at it.
In my opinion that is the key for long term business success. And by default, you will be a leading expert in what you do, because you love it.
One final note. In my experience, you shouldn`t do something just because it has the potential to make a lot of money. Do it because it is your passion. Most overnight successes take 10 to 15 years...
Snrub it sounds like you already have your niche picked. I can tell you this there’s a lot more to get going before “the doors open for business” I recommend spending less time trying to focus one particular thing. Sure it’s important, but give a week or so and revisit it. In the meantime, start getting the business structure in place, accounting software, accounts, setting up any needed meetings. A lot of online business can be generic and everyone has to do it. Let me ask you this, have you read the 10 step process yet?
If not here ya go: http://www.startupnation.com/steps/55/10-steps-open-start-bu siness.htm
Just a thought, it sounds like you don’t want to sell your time doing web development projects, is that because you’d rather not do the busy work? Can you sell projects? It might be easier for you to get the jobs then farm them out. Then the only work you’d have to do is meet with clients and oversee the development work, which isn’t as much time as the actual coding.
Whatever you choose to do, DO NOT sit idle by and watch, get in there, roll up your darn sleeves and get GOING!!!!!!!!!!!!!!!!!!!!!! Life will pass you by the longer you sit and debate. There’s your Kick in the arse!
Hey Guys & Girls,
Thanks for all the responses and encouragement. I`m now going to have to sit down and have a look at where I think I can go and what I enjoy doing. I guess this is likely the most difficult part of the whole process...coming up with a GREAT idea :)
CraigL -- I take your point regarding the technology business and you are correct its really getting tougher selling a service these days, especially in the web-design arena. Things are uber competitive and alot of business balk when you quote them on a full E-Commerce website - "What it`s going to cost me $2,000...I can get theat done in India for $300" Believe me I have had the response a few times. I guess that`s global trade for you...contractions in some industries and booms in others.
I find it interesting regarding your point about physical products. Do you think that this belief of value in a physical product crosses over into the software realm? Where the product is actually delivered as a tangible, boxed item? It`s likely something that I could consider doing...creating a piece of software and then looking for marketing partners. I would be interested in hearing your opinions on that side of the tech business.
Failing that, I`m looking at some other avenues at the moment and will jump back to the thread in a few days with some ideas for you guys (My business Board LOL) to shoot holes in.
Again, I really appreciate all the time that you members have freely given me. I know that message boards can take a bit of effort and I do appreciate the responses.