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How can you get enough information on the best business to go into?
Wiki User
∙ 12y ago
You really can't, if you stare at it too long you will go into analysis paralysis. Poor stands for Passing Over Opportunity Repeatedly.
Just stick with the basics: Is this business going to create a high value to the marketplace over a long period of time? Spend some money on a market research company, they will find the potential for your business and the best locations in your area to set up shop.
Some experts will tell you to look into the future. Energy shortage is a huge concern, focus on energy production, green energy, energy conservation.
Babyboomers are retiring by the thousands every day for the next 10 years. You can profit by finding safe returns for their 401 ks, find out where they are retiring to (like Florida) and find a way to profit from that market.
Pets: we spend so much money on our pets in the U.S. even in a down economy.
Housing: best time to buy housing is now. Foreclosures left and right because people can't afford their homes, banks take them over and now they are landlords when all they wanted was income on the loans. These people still have to live somewhere, find a solution to the problem, turn their liability into your asset and give them a place to live.
Food, the food we eat is poison, people are catching on. That is why you see organic this and that popping up everywhere, the problem is this stuff is flown in from all over the place using up our carbon based resources and causing more pollution. Surely there is a solution there (green house technology etc)
You have to open up your mind and see into the future. When recession happens it creates opportunity for the prepared. Recession is always followed by expansion.
Good Luck!
Wiki User
∙ 12y ago
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