wheel - 11:25 pm on Aug 30, 2011 (gmt 0)
There's also the dynamic of finding an open niche but its too open and a small company with no money cannot move the needle.
I believe in a serious business enterprise, you'd already be familiar with the business. The old saw about doing something you know and love, well, what's really important is doing what you know.
If you aren't familiar enough with the niche, probably not the business you should be in. Start with 'what do I know'.
I'm in a hyper-competitive niche. Everyone's in my niche from probably someone in your family to half the affiliates out there. And yet it was a niche I specifically decided to enter. I've had SEO experts suggest my niche as hard, but deceptively so - it's harder than it looks. But when I started, I already knew what the costs where, how to generate business, the cost of generating that business, how much business I could do in a day, and so on. The only thing I had to do was actually do it.