Of course venturing out into a an entirely new are is not unheard of but the fact is that new areas can ventured only if you know of a niche which is so specialized that it will take you ages for the competition to come out on tops on you.
This leads to the next big questions which is whether you want to enter low barrier business or a high barrier entry business. There are advantages and disadvantages of each kind of business and that can actually be the crux of what your business model will be like.
The business that you like can be low entry barrier business that means anybody can start that kind of a business and everyday new business will spring up and your unique selling proposition will help you survive in a tough market. This is in stark contrast to the high entry barrier business.