If you are getting into business, you need to offer something different. If you line up next to McDonalds and offer the same fries, shake and nuggets, what is going to make people come to your business? It needs to offer something else – something else that can make a business that is essentially the same as its competition seem ‘different.’ A good example would be games consoles. These pieces of tech are released on a generational basis as technology evolves. The Playstation is bettered and becomes the Playstation 2. The competition in Xbox is essentially built the same with some very minor differences – what sets these two things apart in their niche? Mainly – it can be branding.
However, sometimes opportunity rears its head and ensures that most of the groundwork for business success is already laid – these huge niches come when there is a lack of something. Right now, the world of construction could need your startup. There is a serious gap in the market for laborers and skilled workers as older tradespeople retire, and that gap isn’t being filled by new talent.
The shortage in the western construction industry will be worrying to many, but not entrepreneurs. These labor issues spell out one word, and that word is opportunity. With an aging workforce, the opportunity is there not just for one new firm to train up new workers, but many. The reality of the construction industry is that the youngest workers on a site might be over forty years of age – in fact, workers building houses thirty years ago, might be working on houses today. There is a real shortage, and in twenty years, these workers won’t be working anymore – so who is going to do it.
Of course, the niche is there – but if a new startup can’t convince a new generation to take up tools, it will simply add to the problem. The easy answer to this is that a construction firm will succeed because of demand – the reality isn’t that though – the new firm will need to attract a workforce and train them up.
Even if that is done right, the firm will still fall apart if basic business skills as well as construction experience and knowledge aren’t there.If you do not know your bricks from your mortar, or can’t deal with dump trailer manufacturers to get the best price for your firm – you’re going to have trouble. The opportunity is there, but only for dedicated construction or business professionals – not those who want a quick book. Most of all, the industry needs new talent, but it also needs trainers and those who can manage logistics – not venture capitalists!
A huge niche is around and businesses need that – they need to fill gaps, but they also need to fill them right. You cannot force a square peg into a round hole – so don’t get involved in this niche unless you can offer something – but that rule applies to all business, but you knew that already, didn’t you?