Having the right mind set and choosing the right Niche

by Wasim Ismail on April 18, 2011

When setting up a business online choosing the correct niche for your online business is one of the toughest and most important things that you would come across. It has to be done, and has to be done correctly so that your business starts on the right foot. At times, you may think yes I would like to start so and so business online since everyone else is doing so, this is not the right way, you are only fooling yourself. The person that you are following may have done their research on their business and know what they are talking about. You must not follow the wind and setup a business, just because everyone else around you is doing so. This will cause your business to suffer, as after couple of months or even years you will lose interest in it, and steer your focus elsewhere, which will damage your brand and business.

However, the first stage of setting up anything is choosing something that is right, and something that you enjoy and have passion for.   When choosing your niche, you need to have a clear mindset that this is not a get rich scheme, and things will not happen overnight, it is more like getting into a relationship. When you go into business, you will have sunny days and rainy days, but more importantly, if you have the correct mindset, you will be there and stick through it until the end. As mentioned things will not happen overnight, once you have chosen your business, you will have tonurture it, and gradually grow it, taking it from strength to strength, gradually.  (I will cover in a later post on how to nurture your business).

The important factor in establishing yourself online or offline is about having the correct mindset and attitude towards business, and others around. You may have heard the saying "Business is not for everyone" but I believe everyone can do it, it is not hard, and it just needs logic, sense and abit of determination. These days you have courses and support online and great tools, it makes business enjoyable and doable for everyone. You do not need to be shrewd, or a hard enterprise person, what you need is the right attitude, clear mindset, and good focus. If you have these key ingredients you can really make your business a success, and there should be nothing stopping you.

The correct Mindset for setting up a business

  • Business is not a get rich scheme, with business you will make money, but if your true focus is use business as a get rich scheme, than it won’t work, you will not enjoy what you are doing, and lose hope, you won’t see success straight away in business, it takes time.
  • Business is not always rosy, but it does have its sunny days and also rainy days.
  • Once you have chosen your niche, have a plan to make it work, stick to it for at least 3-5 years.
  • In business, you are working for yourself, discipline yourself with time, know when to work, and when to take a break, work will always be there. There will always be something to do.
  • Strong drive: business at times can be lonely and for some depressing, as you may be the only one, and not yet have a team. At this stage, you need to be self driven and set your goals accordingly.
  • Be creative, the economy is tight out there especially at this time, and you may not get the business you expected, in which case you will have to come up with new ideas and creative ways to promote your business, use the power of technology and the internet to your advantage.
  • Accept changes, as time goes along, new technologies come out, the way we run our business changes to adapt to consumer needs and also the general public, be ready to accept changes and implement them into your business. You do not want others to say that your business is old fashioned. Stay up to date with the time, and most of the time changes are good, they have a positive effect on your business.

When you choose a niche, and decide to setup a business online, give it some time to grow and be patent with it.
What else is important to take into account for having the right mindset in setting up your business?   Please share your thoughts in the comments below.

Image: Salvatore Vuono / FreeDigitalPhotos.net

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