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I'm thinking of starting a business, there are obvious benefits, only thing is that I don't yet know what the business does. All I need is something to sell. I want it to be low capital investment and risk, any ideas?

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Hi Jim,

Thanks for joining the forum.

Assuming this is a serious question, let me summarise your current position:

  • you are looking for a product to sell
  • the business should require a low capital investment
  • the business should have a low risk profile

My suggestion would be to start a blog and use it to build a community of interest. If you can connect people who are interested in the same thing then, if you ever come up with a product, you will have people to sell it to.

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Hey Jim,

Low investment and low risk huh? Then let's start with a few questions, eh? Expanding from Tom's suggestion...

What are you good at? A blog without focus, opinion, or expertise is like reading a 13-year old's diary. Interesting and perhaps cute, but folks aren't going to be wanting to see what's coming up next unless they're some type of sexual offender (or their parents).

What fascinates you? For someone like me, origami is something that I enjoy. You might love baking, fishing, or even fashion - you get the gist.

What bothers you, and might for others? Personally, I often have trouble picking gifts for people's birthdays. My brother has a tough time deciding who to draft in his online fantasy teams. However small the problem is, it's a potential business opportunity.

How can you combine your strengths and interests to create something that resolves a need? In my example, I might create a blog about my origami adventures, post pictures, get followers, and then... tell my new founded community that I'm publishing an e-book, "Origami for Birthdays."

Obviously you don't have to come up with all your ideas, as that's the nice thing about communities - nicely ask, and they'll give back.

Long tail strategy + leveraging social networks WOM capabilities = low investment, low risk.

Unless of course you factor in time... hmmm...

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