RSS at Feed BurnerI am Too Sexy…
I get to hear a lot of ideas from people wanting to start a company. The vast majority of the time, people want to start a “sexy” business. Whether that be the current hot online trend (at least half of the ideas I hear related to the web involve some sort of social networking) or even something more simple like starting a bar.
The problem with sexy businesses is that a lot of people are going after them because simply as a result of them being sexy or exciting. But those businesses are generally highly competitive as a result of the vast number of people going after them because of their appeal.
If you are trying to start an online business similar to what 1,000 other people are doing, you need to have a something remarkable or meet a demand no one else is meeting, which is more likely going to be a specific niche.
People also generally go after the sexy business ideas because that is what they hear about in the media. They hear about valuations and acquisitions of these companies that seem exciting. But I see many, many hundreds of million dollar deals with companies no one ever hears of and many times it is because the business is not exciting/sexy.
Look for that path less traveled.
My advice
on September 21st, 2008 at 10:21 pm
Online shmonline…any site you set up can be mirrored in a week, no niche is possible…even under the tighter patent/copyright interpretation by this yrs Supreme Court…make a tangible PRODUCT that improves the lives of any segment of the population and then you’ll see success.
on March 8th, 2009 at 12:45 am
Every busines new or established needs to fill a consumer request, demand or interest or it will not be around very long. New business ideas come and go. What matters in the end is which ones succeed.
on July 24th, 2009 at 7:53 pm
I have just such a “not sexy” business. It specifically addresses a big need for the business owner, not the consumer. Although it will effect the consumer indirectly. I can’t find any Angel investors to invest, because it is not a “sexy” technology business. I have relatively small start up funding needs and large returns, but the business is not “sexy”, just valuable.
How do I get Angel Investors to listen to me?