As a business owner one should always be on the lookout for new opportunities, this is especially too once you reach the level of being an investor. It is my personal belief that all business owners should start training as investors. Teach yourself to look for opportunities because as the great Mark Cuban says you only have to be right once. Find that one thing that can catapult you to success and the rest doesn’t matter.
Well, it was this type of thinking that led me to start to look at niche businesses. And really, not just niche businesses but businesses that are often overlooked often due to stigma and not demand. There are plenty of obscure businesses that are obscure for a reason and that reason is demand. No, stay away from those. I’m talking about businesses that your neighbors would never think of but that have a big market nonetheless. By looking at things through these lenses I was able to stumble upon one of my greatest successes, psychic services.
Now, if you are cringing at that then that is exactly the type of response that I want. Things that the mainstream might look down on are ripe for the picking and hey, it isn’t porn. But really, I believe that there are people who are gifted and I believe that human beings are all connected on a spiritual level and that we all have telepathic abilities. Some are just better at it.
About a year ago I stumbled upon a good psychic who was struggling with generating business. I saw an opportunity, researched the market, and invested in a web/phone based model. The model is one where my psychic delivers phone readings. No they aren’t the cheesy pay per minute kind with some person from Jamaica. No she would be marketed in her local market. In fact, she was very well known at the time in her city she just didn’t know how to capitalize on her notoriety. She was known as the psychic medium Houston PD liked to hire to help occasionally with tough murder cases. Anyways, with all that I knew we could make something happen.
Now this article isn’t necessarily about that particular business but about the fact that I saw opportunity where most people might miss because of there own personal beliefs or stigma surrounding a particular subject. Now I’m not advocating going against your beliefs. That would make you a hypocrite. Personally, like I said, I am perfectly fine with it and actually think that more people could benefit from realizing what people are really capable of.
So, as you start reading the news tomorrow, or scroll through your facebook feed, start looking for things that are off the beaten path but that certain people have an interest in. Facebook is fantastic for this because you can really get an picture of things that people are passionate about. There are scuba divers, paintball enthusiasts, cryogenic treatment goers, fly fisherman, you name it. Where there is an mentioned interest there is usually a group and that group is where your opportunity lies. Find out how to give them more of what they are interested in and you will find success. Learn to look at the trends that others take for granted or write off. Good luck.