The need to be self-reliant has never been this high in the history of mankind as every ordinary citizens dreamed of being an entrepreneur. People long to be financially free, own their own company, and manage their time and financial resources among other things. This yearning which, ofcourse, has helped in making several successful entrepreneurs across the world could be attributed to new business opportunities that grows in thousands by the day, callousness of employers, job insecurity and of course the certainty of once understanding of the business terrain as an expert.
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However, it is a saddening reality that only few of several people who have ever dare to be an entrepreneur has ever brought such desire and yearning of theirs into fruition. The question is “why is owning my own business this hard?” The answer to this question is never simple but a clear approach to finding answers will be to look keenly to what could be done in order to become a successful entrepreneur and fearlessly pursue it. It is once said that only when you accept the possibility of getting it wrong will you have the patience to get it right. Shake your fear and believe you can find your own niche business and be successful with it. And yes, that is exactly what I will be explaining in this article, so I advise you to patiently read through.
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Finding your niche business

This part is referred to as “finding opportunity”. It is the basic assignment that any would be business man or woman must do if they plan to succeed. The process involved finding the gap in the current market place and leveraging the gap to your own advantage. Oftentimes, this singular task to attain success in business often looks overwhelming and insurmountable to upcoming entrepreneur but not unachievable. The easier way to do this is to realize that every industry or economy sector could be better. All it takes is to look at the industry of your interest, observe the system i.e the process with which the system works and then break it down and apply logical thinking.
A research has once showed that 45% of venture ideas are formed while working in the same industry, so why not give yourself a brain teaser towards being a successful entrepreneur?

You may want to ask yourself the following questions in your search to finding your own niche business as an entrepreneur and succeeding with it:

How could this product or services be better?

How can I add value to this industry?

A customer has asked for an extension on a product or service, is this something I can provide?

Is there a need within my locality that I can satisfy to make life better? After all, it’s only when you give value that you increase in value.

So like I explained earlier, you need to observe the way the system works and break down the process logically in other to identify the gap which needs to be filled. Filling these gaps is what will bring you the financial freedom that you seek.

Although, the key to finding your business niche require keen observation and intense planning, but it can also come by fortuitously i.e by chance rather than intention. This hardly happens but it does. It only requires you to be patient and observant.

Take look at the case of a young man in Nigeria who loves listening to the story of brave hunters in Nigeria and their ordeal in the jungles with deadly animals and spirits. After he had listened to his grandpa’s hunting experience, he studied that local hunters in Nigerian jungles has never been giving adequate publicity of their bravery in hunting. He recognize this opportunity as a potential chance for success and embrace it by presenting a program proposal to a local radio station to expose these brave hunters and their bizarre experience in the jungle. Before you knew it, he’s already smiling to the bank as a result of money rolling in from sponsored advert. Kaboom! This young man has hit upon a market opportunity quite accidentally but through keen observation rather than planned innovation.