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Why Intelligent Entrepreneurs Like Mark Cuban Embrace the Rule of Niche at Scale
Someone I know wants to start a small business. He’s eager. He’s enthusiastic. He’s the right age. (While any age can be the right age, research reveals that older entrepreneurs tend to be more successful, even with tech startups.) He has an idea, and he’s thinking big. “Disruptive big,” as he puts it. Problem is, his idea involves underwear. Not that an underwear startup is a problem in itself; Mack Weldon launched with underwear and socks. But he hasn’t come up with new fabrics. Or new styles. Or new designs. Or a new marketing twist. For him, it’s all about market size: Everyone wears underwear. Yet, paradoxically, that’s a real problem. As Mark Cuban says, “When…
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How to Pick a Profitable Niche
Entrepreneurship is the perfect way to acquire monetary independence and professional flexibility although also creating value. For an effortless commence, lots of new business owners pick out to start modest businesses, preferring industries they are familiar with so they can minimize the possibility of failure. And picking out the right field and niche can make the difference among achievements and failure. To start out a profitable compact business, you require to decide on a successful area of interest with expansion opportunity and if possible lower competition. Having said that, sector trends alter repeatedly, so no enterprise notion is wholly potential-proof. Are you contemplating the thought of starting up a modest…
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