Trending Doesn’t Mean Profitable.

It’s not uncommon to see businesses spring up with each passing trend.  Sometimes it’s Disaster preparedness, other times it’s Pokemon Go accessories.  More often than not, the business is late to the party, the market is overrun with competition and profit margins are razor thin if present at all.  The truly great businesses begin when someone sees an opportunity in the marketplace that nobody else has recognized.  While it’s probably unrealistic to expect to have zero competition, it’s just as unrealistic to expect to start a business around a trend that has already hit and may disappear before your website is completed.  Instead, plan your business by looking at multiple areas that you have knowledge, interest, or access to more than most other people.  Research each of these potential markets looking at how much is being spent, how many competitors there are in the market segment and what profit margins are like.  Business is hard enough as it is.  There is no sense in going into business in an area that is saturated with competition, has few sales, and small profits.  If you don’t know how to do this research yourself, seek help with your online business planning.  The cost of failing at your business is far greater than the cost to get assistance.

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