Ask Is untapped business always fetch huge profits?

[Btaliat]

If untapped business is handled by someone that is very skillful, there is more tendency that there will be more gain for such a person. This is because it is not saturated. It has more aspects that can fetch money. However, if reverse is the case, it means there won't be more profit to be generated by the business owners.

In other words, there is a need for more administrative effort to generate more profit for the business.

 

[Newman]

Yes. I have seen some people that have argued this before. Most times, the answer will lie in the management of such a business by the business owners. If the business are handled well, it is likely there are better and high profit margin. While it may be opposite if not handled well.

 

[Newman]

For the fact that businesses are untapped doesn't make it automatically a business that will be fetching much money. In my own opinion, I always believe that what business owners get from the business is a direct way of how the business owners handle the business and not the really the business nature.

 

[Dean101]

Sometimes there's no competition because nobody actually wants it. Or maybe it's too expensive, too complicated, or just hard to explain to people. Being the first one doing something sounds cool, but it can be stressful. You have to convince people why they need it, fix problems as they pop up, and basically figure everything out on your own. That takes time, effort, and money. Sure, if it works, you could make big profits since you're ahead of everyone else. But it's never guaranteed

 

[Brajet]

Just because a business idea is "untapped" doesn't mean it's gonna make a ton of money. Being first in a market can be cool, but it really depends on stuff like whether people actually want it, how you run things, and if the timing's right. Some fresh ideas totally flop because people aren't ready for them, or the plan just doesn't work. Sure, some do blow up and make a lot, but that usually comes after testing, tweaking, and figuring stuff out along the way.