□ It's a good idea to start a business for demands that never go no matter what, like food, clothing, other basic necessities, and most importantly, new opportunities. He's doing brisk business, and planning for expansion. His agency gives high quality service including some basic grooming of dogs. While many residents don't have dogs, many others have 2-3 dogs. ➡️ An enterprising dog walker in a gated complex of about 500 apartments starts an agency for dog walking with 2 persons under him (eventually hiring 6 persons). ➡️ A relatively small shoe store for only men's footwear does proportionately better business than a large shoe store across the road that sells all types of footwears for everyone. Let me give 2 actual examples I'm aware of. Just on these 3 simple features, there can be niches and sub-niches to exploit for the same type of business. □ A business succeeds when 'supply' fulfils 'demand' a) qualitatively, b) quantitatively, and c) in time. In my experience here are some basic points to bear in mind: There are however some underlying features that can see you succeed or fail irrespective of where your business is located. The eco-system for a startup to grow and thrive is not the same in all places. Looking to start up in 2024? Here's what to consider while taking the leap:
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