Career Transition: Seeking Guidance on A Viable Tech Business Venture

Discussion & Solutions
1

Hello OneHackers,

I am at a Critical career crossroads in life; therefore, I’ll appreciate this community’s insights as I evaluate my next steps.

My Background:

After a 15-year career in HRM, I lost my job. Lately, I have felt strongly that I wouldn’t be able to continue with the 9-to-5 job much longer, and I need to do something of my own.

Therefore, I began upskilling and now I am Certified in:

  • Cybersecurity (ISC2 CC),

  • Data Analysis (Python)

  • Linux Foundation Certified System Administration (LFCS), and,

  • IT Fundamentals (MCITP).

I have completed over 50 courses in AI, Cybersecurity, Data Analysis, Python/R/SQL, Linux, Sys-Admin, IT Support, Marketing, HR and Microsoft Products and Finance etc.

I am a Quick and Dedicated Learner, ready to work smart and go the extra mile if needed.

My Goal:

To launch a long-term, sustainable, tech-focused online business that leverages my technical skills.

My Question:

I would appreciate your advice on venture selection and assessing the viability of different business models. Selecting a niche and the business idea is the most critical phase for anyone starting, because this may be the foundation of a tall building in the future. I need your expert perspective on selecting the correct type of business and then scaling it. Understanding the “How” is significant, but I need your wisdom on the “What.”

My key criteria are:

  • Demand: Are people looking for the product we will be offering?

  • Low Saturation: A market with room for a new entrant.

  • Supplier/Platform’s Reliability: Is our service/platform provider reliable, or has it been in the business long enough?

  • Scalability: Potential for automation, passive income & growth; beyond trading time for money.

  • Initial Investment: Low-to-moderate upfront startup costs.

  • Effort vs Reward: A model that provides good long-term value for the work required.

We can award marks (out of 10) to each of the above criteria to develop the right idea. The above criteria may be known as the '‘Tech Business Viability Index’‘.

I would appreciate any advice regarding the following:

  • What tools/methods should I use to assess the business ventures against the criteria mentioned above that have been shared at the OneHackers forum or elsewhere?

  • Which business ventures (mentioned below or others I haven’t considered) best fit my profile and goals?

  • What are the pitfalls I might not see?

For example, I’ve analysed ideas like domain flipping with high holding costs versus ventures like a niche SaaS, a tools website or reselling a proven digital product (like reselling ChatGPT, etc, subscriptions). I’m seeking guidance on which paths offer the best balance of the above factors for a new entrepreneur like myself.

Based on my research, I’m evaluating options like:

  • Building a niche SaaS tool.

  • Creating and selling digital products.

  • Affiliate marketing

  • Reselling established tech/AI products.

Thanks in advance for your time and effort in supporting me.

Best Regards,

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