Successful small businesses become successful because they find a market "niche" they can serve better than most. You need to find your niche in the market.
One of the questions to ask is what are the markets in travel that are growing, and which ones are declining. I`ve seen successful travel businesses based on catering to a very specific audience. For instance, I knew of one travel agent who catered to people who liked to go fishing at exotic locations all over the world. He did it partly because he loved fishing so much and he could travel to all of these places because of his travel business. He discovered his "niche" in the marketplace.
You need to find your niche to be successful. Otherwise you become another "me too" service that has to compete with websites who can do it as cheap as possible. However, websites can`t do everything.
People who travel a lot and pay fees are generally affluent. They like special services or to be taken to special places. What can you offer them that`s really special?
The other market is the business market. What can you offer them?
I think you need to look at your self and what you want, and then look at the marketplace and what it wants, and find a happy marriage at a point where those desires coincide.
Regional Vice President
Equity Corporate Finance, Inc.
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