Inside the Mind of a Business Owner Who is Trying to Find a Niche Business
***Originally posted on May 1st, 2010
Over the past month I have switched from working 70% on my existing business and 30% looking for new business opportunities to now, the other way around. It is what I should have been doing all along. Today, I met with a friends company in the sports credentialing business. Basically it is a business that provides software, in an asp model, allowing for major sports events to issue press passes easily. It is a really cool business and the owner has done a great job of finding a niche business. It isn’t that big but I think the potential is fantastic. I went there because there is potential for me to apply his software to a business idea I have.
After visiting with him and after visiting with another company on Wednesday that is a leader in cpr certification, and finally having a long telephone conversation with a company that does healthcare staffing/credentialing on the west coast, I could see how hard it is going to be for me to find a niche business.
The key will be for me to get inside of my client’s business so that I can see the way they are doing business now and how I might be able to improve it. The problem is that my clients are all over the country and for me to see them will cost a lot of money plus it is a long way to travel for not a lot of information. Another problem Right now, the areas I am focusing in on are credentialing, outsourced recruiting, or training and I am looking at the healthcare or staffing market place.
The key for me this week is to get 2-3 appointments in Hospitals, large physical therapy offices, long-term care facilities or urgent care facilities. I know I am on the right path for finding my next business by learning about my clients. Now, I really need to bear down and get appointments with high level contacts.
Financing Solutions (www.payrollfinancingsolutions.com) provides fast business funding of $5,000-$100,000 to good small businesses with sales of $500,000-$7 million that can be used for working capital.