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Top 7 Niches To Invest In For Future Prosperity

By Christopher M. Knight

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Every business niche has a cycle it goes through, which starts at "Start-up, and goes on through "High Growth", "Maturity", and "Death". Obviously, the best place to invest depends on your comfort factor and investment goals. Because I like to invest in the startup phase of business, which is the highest risk area, the following list are areas that are either in start up/high growth phase, or will be soon:

  1. Voice recognition technologies. Did you know Microsoft is quietly investing a bundle in this area? So are many other companies. This is our next evolution as people to get away from the keyboard and allow the rest of the world who can't or don't type to get online and be connected with the rest of the planet. Voice translation services, if they can ever figure it out, will also be hot.

  2. Silicon chips that convert your hard drive to the same access as a ram disk, convert your film in your camera to a disk or a chip for processing, allows you to carry your complete medical or dental or any kind of history on a small chip about the size of a quarter or smaller. Some day, someone is going to invest a way to access this information via a brain to chip interface and a new era will rush in to exploit that financially. 7-10 years?

  3. Education. Adult re-education, and certification. Expect colleges to take a back seat to industry specific technology education and certification as the choice to make bigger money in the future. Colleges (not all of them) just aren't keeping up and teach 2 year+ old technologies which are obsolete when they graduate. This statement should make a lot of folks mad or upset. Maybe the colleges can do something about it. Maybe not. Expect colleges to do online web training BS, BA, MS, PHD's, etc. within the next decade, not because they all want to, but because they have to, in order to survive.

  4. Home offices will continue to be heavily invested in, as will high speed bandwidth Internet connections to them. Products that make life for the 'at home business', will prosper. Folks who provide outsourcing services will also boom.

  5. Wireless Internet access, PDA's, voice communications, paging, and services that give you the ability to get stock quotes, weather reports, news & information wherever you are in the world, all in a package about the size of a pager. Expect to use a single phone or device that goes with you from your bedroom to your boardroom, and every event in between. Companies that provide services around this trend will probably prosper, as well as those who deliver it.

  6. The Business and Leisure Vacation Industry: As spendable cash increases, and with the Internet and notebook PC's become more and more affordable and possible, more folks will be spending more moving about, rather than just staying in one area for long. Invest in companies who deliver services to the businesses who deliver the vacation industry, such as web booking or marketing agencies, and T1 or folks who help make hotel rooms high speed Internet access friendly.

  7. Bioengineering. Products & Services that give us more control over our health, our choices, and the quality of life. Research that is going on in these areas are allowing people to see once again, heal faster, recover faster from a multitude of problems, live longer, and enjoy life with more comfort. There are many moral and ethical issues surrounding some of these new technologies, but that will not stop the rapid investment into this area.

    Many of these statements are forward looking and you should not take these as facts, but rather the opinion of the author and the author alone. Use this information at your own risk.

This Piece Was Submitted By Entrepreneur, Author, Business Builder and Email/Web/Internet Strategist, Christopher M. Knight.

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Article Submitted On: October 19, 1998