But small businesses have been transformed over the last two decades, largely because of the digital revolution. “The Internet has created infinite possibilities,” YouTube star Michelle Phan tells Fast Company. “You can create content and products for a niche market, but niche is no longer small anymore—that word can now mean tens of millions of people on the web. We’re living through a digital revolution where people around the world can build new businesses in ways that were not possible 10 or 20 years ago.” Via Link
Today, small businesses have a greater reach. You can target more smaller niches yet be profitable at the same time. If you are thinking of starting a business, start by thinking small. The idea should be narrow.