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Small Business Ideas Forum

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Old 22nd January 2012, 01:39 AM   #1
cyz0301
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Default Business Ideas

Dear all,

This is my first post here! I'm a 20 year old student in Singapore, currently pursuing my diploma in aerospace engineering. I have been cracking my head for awhile brainstorming on business ideas and I came upon this forum. My passion is motorsports and aviation. My hobbies are aeromodeling and go karting. I have came upon people saying that you have to do what you like to succeed such as turning your hobbies into money making business but my hobbies are too niche and my local market is far too small.

I have attempted to provide services like model aircraft flying at events before, which is a very niche kind of service. I mass sent email to various events planning company and only a few of them replied. But most of them were turned off by the pricing. Only one or two appreciate the service so far and was willing to pay for my service. Eventually I gave up looking for clients thinking that the business idea isn't too suitable for my local market.

Guys any ideas what business is suitable for me? I'm technically incline in engineering and has good knowledge in the aviation industry.

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Old 23rd January 2012, 08:22 AM   #2
The Diamond Pen
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Welcome! I have to disagree with the "you have to do what you like to succeed" approach. I like football and playing guitar, but I'm not nearly good enough at either to make a living from them. I believe that you need to do what you're good at, and learn to love the feeling of a job well done.

So...what are you good at?

P.S.: Maybe instead of events, you could try designing an affordable "kit" for people to build their own airplanes. I know stuff is out there already, but try to take a new angle on it. Just my 2 cents....

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Old 23rd January 2012, 09:04 PM   #3
cyz0301
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Quote:
Originally Posted by The Diamond Pen View Post
Welcome! I have to disagree with the "you have to do what you like to succeed" approach. I like football and playing guitar, but I'm not nearly good enough at either to make a living from them. I believe that you need to do what you're good at, and learn to love the feeling of a job well done.

So...what are you good at?

P.S.: Maybe instead of events, you could try designing an affordable "kit" for people to build their own airplanes. I know stuff is out there already, but try to take a new angle on it. Just my 2 cents....
Hey thanks Diamond Pen for the reply, I'm good with technical stuffs and aviation knowledge. And I'm good in go karting but the local market is too small for coaching.

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Old 25th January 2012, 05:57 PM   #4
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I think it's easier to make money if you don't care what type of business you are in to make it. It's a time thing. If you can't find something you love to do then it might make sense to switch over your strategy to find something that might be profitable. Your business is being in business.

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Old 26th January 2012, 07:47 PM   #5
Rachelz
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Default Re: Business Ideas

You don't need to find something you absolutely love to start a business. If you absolutely love being in business for yourself...then that is your love!

You may decide to build a business doing something that you are experienced in, qualified for, or skilled to be doing.

I'm not sure there is enough info in your post to recommend some really good business ideas, however you could try:

- delving into your niche a little more. Model aircrafts is definitely a niche industry, but I'll bet there are hundreds more involved in it in your local community than you think. Do some research, keep your eyes open and get involved. Do they have their own get-togethers or events? If so, attend them and see if any new business ideas come to mind.

- what about kids in your area? I'm sure many parents would appreciate their children spending a day doing something as creative as aircraft modelling. Can you put together a service like this?

- consider starting something online. Do you know that the majority of the largest and most popular forums online are about gaming? From the outside, most of us see this as a 'niche'. Apparently it's a huge one! Could you start your own forum or 'go to' website for designing model aircrafts? If you know a lot about engineering and aircrafts, you could put a very knowledgeable spin on things.

Just think outside the square a little...

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Old 14th February 2012, 10:11 PM   #6
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If your local market is too small... think bigger... THINK ONLINE!

You can take virtually any interest or hobby and make money on the Internet. Obviously, there's lots to learn and it won't happen overnight. But if you can learn the basics of building a website and come up with a unique or interesting angle, you'll have a much larger audience on the Web.

Maybe you could start out by writing about your hobby. You can start a blog for free with Wordpress or Blogger and create a following with social media (like Facebook and Twitter). Then, you can monetize the traffic you drive to your website with ads from Google (ie: Adsense) or provide affiliate offers that are related to your subject and make a commission.

Anyways... the Internet isn't for everyone... but it could provide an opportunity for you be involved with something you love...

GOOD LUCK!

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Old 15th February 2012, 06:29 PM   #7
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Default Make Your Hobby Your Biz

I have to agree with filings here. (nice post)

Going online is virtually limitless, especially when what you are doing online is something you have a true passion for. (i promise it won't even feel like work)

writing an ebook and giving it away would be a great start for building a list in a specific niche.

As mentioned above there is so much to learn about online marketing but if you follow someone who has achieved success online, then you can absolutely achieve success as well. (i am currently a student at Drexel University and I do this part time while in school)

Good luck stick with what you love!

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Old 16th March 2012, 05:59 PM   #8
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Default Write a website!

You should think about writing a website.

Web businesses are low cost and low risk.

I started writing and managing a dental health website in Aug of 2010. Now it gets over 1000 visitors each day and earns over $800 per month.

My site's traffic and income grows every month and will eventually catch up with my day job...then I will have some decisions to make.

I am a dental hygienist so I have a lot of dental knowledge and enjoy using my skill in an entirely different way.

You could make enough money writing about what you love so you can afford to do what you love!

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Old 19th March 2012, 05:06 AM   #9
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You need to figure out where what you love overlaps with what people want in sufficient numbers for you to make a living. You love your hobbies but people don't want to pay you to pursue them. It's the old 'supply and demand'. Is there enough demand?

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Old 25th March 2012, 07:58 AM   #10
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It's great if you can make a living with what you love but that's not always the case. You need to consider the hype, what everyone is into these days and try to figure out how you can relate your specialty to that.

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