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Lena, what business area shows the most potential for growth?
I want to start a business of some kind and I wanted to know, what you would say is the subject with most growth possibility?
Asked by igotoschool
Posted: Friday, August 31, 2007 | Found in Starting Up
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My focus is mostly on social media, the Internet and technology so, I can't really say - without a bit of research - which business area has the potential for the most growth.
I can say, however, that if you're looking start a business and you're using business sector growth as the determining factor of what kind of business you open, you're barking up the wrong tree a bit.
Instead, focus on what you love. What are you passionate about? What would you do for free? What gets you excited? What could you talk about for hours? What topic brings out your strongest reactions? Once you've identified this, then you can look at market conditions to see the best direction for your business to take.
Doing anything else wouldn't get you the long term results you're probably seeking. Who would want to have a business in a growth industry that you really don't like working in?
If you're not convinced and you still want to focus on the industries with the greatest growth, a good place to start would be your public library. The resource librarian would be able to help you, or the United States Department of Commerce's web site at http://www.commerce
.gov.
Good luck!
Lena West is the CEO and Chief Strategist of xynoMedia Technology , a New York-based firm that helps high-growth companies leverage the power of social media, blogs, podcasts and online communities.
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