| A business opportunity is your own
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| | The baby boomers are aging. In the 80s,
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| special idea for a product or service you
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| | the baby boomers created a bulge in the
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| can sell successfully. In order to find
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| | population in the age category of 35 to
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| your own niche as an entrepreneur, there
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| | 44. In the 90s, the baby boomers will be
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| are a few important things to consider.
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| | 45 to 54 years old. What impact will this
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| First, you should analyze the population
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| | have on the market? Most baby boomers
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| changes and shifts in your local
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| | have already purchased the basics for
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| community that create market
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| | their home. In the 90s, if they buy
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| opportunities. In addition, you should
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| | anything for their home, they are looking
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| carefully consider your own interests,
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| | for quality. In addition, the aging baby
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| activities, and abilities. This last part
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| | boomers will probably increase the demand
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| is especially important. Development of a
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| | for health care service.
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| product or service that will sell
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| | The baby boomers produced a shadow baby
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| requires creativity and knowledge, so
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| | boom, which includes current middle
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| it's best to draw your ideas from that
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| | school students. In the 90s, the children
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| which you know best.
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| | of the baby boomers ranged in age from
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| The people a business serves are its
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| | toddlers to college students. Although
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| market. Your market, for example, might
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| | these children represent a smaller hump
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| be your friends, neighbors, classmates at
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| | in the population than the baby boomers,
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| school, or colleagues at your current
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| | many of them have more material
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| job. What might these people want to buy?
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| | possessions than their parents did at the
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| No one knows the answer better than you
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| | same age. For example, children of baby
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| do.
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| | boomers have more technological equipment
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| You might not realize it yet, but you
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| | than their parents did.
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| have unique knowledge that will help you
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| | There are more elderly in the population
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| to develop a business idea. Your everyday
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| | than ever before. They need products and
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| life is constantly providing information
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| | services that help them to live full
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| about market opportunities: What do your
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| | lives. It is no wonder that the home
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| friends like? What do your parents do on
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| | health care industry and retirement
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| weekends? What are some problems in your
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| | housing is booming.
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| community? Answers to these questions
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| | Lifestyles:
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| might lead you to a business opportunity.
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| | With the increase in dual career
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| The great thing about entrepreneurship is
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| | families, time is very important. Dual
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| that your success is not limited by your
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| | career families are buying many products
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| abilities or education. You should never
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| | and services to help them save time
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| feel that you are not good enough, or
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| | running the household. House cleaning
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| creative enough, or smart enough to
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| | services, day care centers, and lawn care
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| succeed.
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| | services are all becoming more popular.
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| The goal of an entrepreneur is to figure
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| | So are fast-food restaurants,
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| out what he or she can sell that
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| | particularly those that prepare entire
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| consumers need to buy. The most important
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| | "home-style" meals for take-out. Think
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| thing an entrepreneur needs for success
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| | about the young entrepreneur we mentioned
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| is a vision of what consumers need.
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| | above, who knows a lot about cooking and
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| Sometimes entrepreneurs can imagine, or
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| | wants to start a catering business. She
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| envision a need that other people don't
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| | might decide to target her service to
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| see immediately. Think about some of the
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| | working families, providing nutritional
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| things we take for granted today, like
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| | meals for them to share.
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| televisions. The companies that invented
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| | Americans are becoming increasingly
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| and marketed the first televisions
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| | concerned about the environment and the
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| imagined an unprecedented home
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| | importance of recycling. Many products
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| entertainment system. Before then, most
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| | come with labels that indicate if they or
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| families were happy with their radios,
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| | their packaging was produced in an
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| and didn't feel a specific need for a new
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| | environmentally-friendly manner. Other
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| form of entertainment. But as you know,
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| | trends we might observe include interest
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| today most families have televisions - to
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| | in health and fitness, and an interest in
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| the point where we almost feel like we
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| | the Internet and telecommunications.
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| "need" them. Another example: computer
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| | You can turn into an entrepreneur by
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| entrepreneurs saw a future with computers
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| | turning everyday experiences into
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| in every family's home well before people
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| | business opportunities. Learn to look at
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| could imagine using a computer regularly.
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| | life differently: If something is
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| Changes in the business environment
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| | inconvenient or troublesome, imagine a
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| create opportunities for entrepreneurs.
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| | solution... and there's a business
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| Successful new businesses are usually
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| | opportunity. If you use a product in a
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| created to meet a specific need in the
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| | new way, you could redesign it ... and
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| society. So, what does society, or the
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| | there's a business opportunity.
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| market, need? Let's start by looking at
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| | Cedrick Brent is a writer and
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| shifts in the general population's age
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| | entrepreneur with 3 years of home
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| and lifestyle.
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| | business and marketing experience.
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| Age:
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