5 Fields Recommended for First-Time Entrepreneurs

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BY FOUNDER SOCIETY

Q: What’s a good field for first-time entrepreneurs looking to get into business?

A: Whatever capitalizes on your existing skills. “Start with something you have some background in and that you are excited to learn more about. You will need to dive deeply into this topic, so starting out with a background in it is a big advantage. It will also help you make the venture less risky. Whatever field you pick, get ready to learn daily and hustle. If you are not ready to work hard, keep your day job.” John Arroyo, Arroyo Labs, Inc.

An industry that can help you scratch your own itch. “The advantage of being your own target audience is priceless. It’ll save you countless hours researching for product development and sales and marketing. It also helps because you’ll be passionate and knowledgeable. Building a business is HARD. If you are passionate about it and already have an idea of what you’re doing, it will make those long nights and early mornings easier to push through.” Todd Giannattasio, Tresnic Media

Online retail. “You’ve probably heard about how e-commerce is a cutthroat field, and that there are way too many digital storefronts. And all that is true. I’m not talking about hosting your own storefront; I’m talking about establishing yourself as a merchant on a site like Etsy or eBay. Doing this is cost-effective but also teaches you a ton about marketing, customer interaction and research.” Steven Buchwald, Buchwald & Associates

Whatever you know best. “When you are getting into business, it’s important to know about the industry that you are entering. That gives you a head start comparing to the ones that don’t know it, simply because you are more familiar with the problems and you know how things work. Building your network will also be much easier because you’d very likely know some of the people who are your potential customers.” Milan Steskal, Mentegram

A field you are naturally interested in. “Our company was built on staying true to yourself. As such, you will attract the right people to you. While there is no specific field per se, it is important to do some inflection on what you find yourself drawn to and figure out what your dreams and passion are. Then, make that the field that you work toward. Finding something you are naturally interested in will move your business forward.” Jessica Baker, Aligned Signs