Target niche demands

Niche demands refer to market segments that are not highly visible but have a certain market size and stable demand.

For example, some people like keeping pet snakes, but it’s hard to find dedicated suppliers for snake feed; some people love hiking but feel overwhelmed when choosing specialized hiking gear. These seemingly small demands actually hold significant business opportunities.

Why should we tap into niche markets?

First, competition in niche markets is relatively low, so you don’t have to directly compete with big brands and companies.

Second, customer loyalty in niche markets is higher—once they find a product or service they’re satisfied with, they often become repeat customers.

Lastly, niche demands often offer unique value propositions, allowing you to meet personalized needs, which helps build brand differentiation.

A one-person business

The biggest advantage of running a business alone is flexibility and efficiency. There’s no need for complex team collaboration or managing interpersonal relationships, allowing you to operate entirely at your own pace and according to your own ideas.

For example, starting an online handmade craft store—you can handle the design and production yourself, and use social media to promote and sell your products. The entire process, from design to sales, is completed by you alone, saving costs while ensuring efficiency.

You can also use various tools and platforms to boost your efficiency. For instance, you can use online software for project management, leverage new media for marketing, or even outsource tasks that are outside your expertise. This way, you can maintain the flexibility of running a solo business while fully utilizing external resources to cover your weaknesses.

Sustainable profitability

Sustainable profitability is a goal every entrepreneur dreams of achieving. However, the reality is that many entrepreneurs are too focused on short-term gains, hoping for instant success. True success often starts by making small profits. For example, if you open an online handmade craft store, you may only get a few orders at the beginning, but as long as you consistently provide quality products and services, word of mouth will spread, and orders will gradually increase.

The key to sustainable profitability is learning to control costs, optimize processes, and improve profit margins. At the same time, you need to maintain a keen sense of the market, quickly identifying and seizing new opportunities. For instance, you can adjust product designs based on customer feedback or expand your product lines in response to market trends. By doing this, you can maintain your competitive edge and achieve long-term profitability.

Finding a sense of accomplishment

Lastly, I want to emphasize the importance of doing what you love. Entrepreneurship is not just about making money; it’s also about realizing your self-worth and finding a sense of accomplishment.

If you choose a project that you don’t enjoy or aren’t passionate about, even if you achieve temporary success, it will be difficult to maintain your enthusiasm and drive in the long run.

Therefore, when choosing a business venture, always ask yourself one question: ‘Do I truly enjoy doing this?’

If you have a deep interest in a certain field, no matter how niche or overlooked it may seem, it’s worth pursuing. Passion is the greatest motivation—it will keep you going through challenges until you succeed.

Your overall happiness in life will also increase. In this era of uncertainty, one person can still make a big impact. As long as you focus on niche needs, run a one-person business, maintain sustainable profits, and do what you love, you’ll surely carve out your own place in the market.