37: Choosing the Right Niche—Follow a Business Startup Journey From Day 1 with J Scott

<p><strong>J Scott</strong> isn’t just the host of this podcast—he’s also a serial entrepreneur, who has a passion for starting businesses. And with 2020 now underway, J is finally ready to announce the launch of his latest endeavor, which he does right here on this episode of the BiggerPockets Business Podcast.</p><p>In this episode, J talks about his criteria for choosing an industry and a specific business, he details the new business that he’s launching this week, and he dives into the nitty-gritty details of his financial projections and growth strategy.</p><p>J tells us why “sexy” isn’t always the best choice for picking a business niche and how focusing on your existing strengths and expertise can help you create a “barrier to entry”—something that gives you a tremendous advantage over your competition and over others who might try to compete with you in the future.</p><p>Best yet, J has promised to come back every few months and update us on this new business journey, so that our listeners can learn from both his successes and his mistakes!</p><p><br></p><p><strong>In This Episode We Cover:</strong></p><ul><li>J's <strong>backstory</strong></li><li>Why <strong>sexy businesses</strong> have a ton of competition</li><li>The <strong>4 things</strong> J looks for in a business</li><li>Plans to start a <strong>service business</strong> in the real estate industry</li><li>The kind of <strong>staff required</strong> to launch this business</li><li>Why redoing the <strong>existing website</strong> has been low priority compared to other marketing</li><li>The <strong>2 sides</strong> of this business: emergency and rebuild</li><li>J's <strong>long-term plan</strong></li><li><strong>And SO much more!</strong></li></ul><p><br></p><p><strong>Links from the Show</strong></p><ul><li><a href="http://biggerpockets.com/forums" target="_blank">BiggerPockets Forums</a></li><li><a href="https://www.biggerpockets.com/bizshow" target="_blank">BiggerPockets Business Podcast</a></li><li><a href="https://www.biggerpocket