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  • Jul 6th, 2016 8:27 pm
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[OP]
Newbie
Apr 3, 2016
45 posts
2 upvotes

I am looking for New Business

I am planning to startup a new business can anyone suggest me good industry/niche to start.

In which industry I can grow rapidly or less chance to loss of investment.
18 replies
Deal Expert
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Aug 2, 2010
15193 posts
4942 upvotes
Here 'n There
If it were only that easy!
Deal Addict
User avatar
Jun 26, 2011
1689 posts
397 upvotes
This has got to be a troll post, right?

What is your profession/trade? What are you good at? What are your interests? Have you any business experience?
Deal Addict
User avatar
Dec 30, 2007
4300 posts
410 upvotes
GTA
Porn, always makes money...
Newbie
Aug 3, 2010
2 posts
Mississauga
Conjuring wrote: I am planning to startup a new business can anyone suggest me good industry/niche to start.

In which industry I can grow rapidly or less chance to loss of investment.
Tbh, if you plan to start up a business you need to take risks. But keep in mind that whatever you promote you'll back it 100%
Deal Expert
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Aug 2, 2010
15193 posts
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urir10 wrote: Porn, always makes money...
That horse has left the barn. There is too much free porn on the net.
Penalty Box
Dec 27, 2013
8003 posts
3989 upvotes
Toronto
t3nt3n wrote: Tbh, if you plan to start up a business you need to take risks. But keep in mind that whatever you promote you'll back it 100%
lol what? 1st post im perplexed.
Deal Addict
User avatar
Mar 23, 2011
1755 posts
770 upvotes
Yes because everyone on RFD has a million dollar idea but is too busy or too rich to implement it so we are all just going to share with OP...sounds simple enough!
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"It's better to be dead and cool...than alive and uncool!"
Deal Addict
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Dec 30, 2007
4300 posts
410 upvotes
GTA
eonibm wrote: That horse has left the barn. There is too much free porn on the net.
Yes they all make money...
Newbie
Jun 7, 2016
10 posts
Cloud software and other IT products are doing really well nowadays and expanding fast. But of course there are a lot of ways you can go with what sort of software you want to develop...
Deal Addict
Aug 10, 2013
2257 posts
573 upvotes
Toronto
If you have to ask this, you shouldn't be starting a business
Deal Expert
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Aug 2, 2010
15193 posts
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Here 'n There
Heavenleigh85 wrote: If you have to ask this, you shouldn't be starting a business
No kidding! Also, one of the most important factors in being successful in business is execution. The business landscape is littered with people who failed because they could not execute.
Deal Addict
Aug 28, 2007
1898 posts
291 upvotes
Calgary
Start by learning to sell. The biggest challenge to running most small businesses is making sales. You as the owner have to sell your own credibility, your idea, your brand, and your product or service. Nobody can do that for you and you can't outsource it. If you can't make sales there is no revenue coming in to pay for everything. Initially, you will have to prime the pump with your savings.

The good news is you can get a regular "job" in sales and have organizations pay you to practice while you are learning. If you put some real enthusiasm & effort into it you can even get paid substantial amounts. But if you are lazy and have no plan to improve your sales skills, you'll just be more roadside litter (that applies to employees as well as entrepreneurs!). But, once you understand sales, you can build your marketing plan in any industry you like. Out of the marketing plan come the tasks you have to execute to achieve the goals in the plan. Personally, I like "dull & boring" industries because your competition is contented, lazy and already asleep at the switch. It is easy to be a star when you're in a field of deadwood. That is my recipe to address risk.

As for quick, you simply quadruple the effort described in the last paragraph and things will move 4 times quicker. There is a reason it is called "work"... because it's not easy. Hardly anyone is willing to put in the massive amount of mental or physical effort.
Newbie
Jul 3, 2016
2 posts
E-commerce industry is growing rapidly because today every one have started shopping online. So i think this is the great time for you to start your business in the e-commerce sector. Also starting an ecommerce business will give you high returns at low investment.
Deal Expert
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Aug 2, 2010
15193 posts
4942 upvotes
Here 'n There
As Dustin Hoffman said in the movie The Graduate, "plastics!".
Sr. Member
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Jan 18, 2006
515 posts
65 upvotes
Toronto
If you have to ask RFD about this, chances are you're not ready to take ownership any time soon.

You don't want to be following anyone's advice if you want to be your own boss.

Do your reading, do your research, talk with successful business owners, that way you'll get better idea of what you want to do
Member
Feb 23, 2015
376 posts
19 upvotes
Mississauga, ON
Conjuring wrote: I am planning to startup a new business can anyone suggest me good industry/niche to start.

In which industry I can grow rapidly or less chance to loss of investment.
Tell us more-
Your location
What fields you are experienced in
Has lots of free time or not
etc.

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