There are many small and big businesses that start based exclusively on whether they will bring in high profits. But should profits be the main reason for starting a business?
There are many people who think that finding a great business idea is a complicated task. In fact, it may even cause some people to reject their entrepreneurial dreams.
If coming with a business idea gets you feel overwhelmed, here are some steps that will walk you through the start of a business.
1. Why would you like to start a business ?
Write down what motivated you to start a business, and what you want to accomplish. This will help you get motivated in times when your business will not generate a lot of revenue. By remembering what you sought out to do with your business idea, you will get back on track when times are rough.
If this is taken seriously ,it will help you get into a business mindset.
2. What are your strong points? What are you good at?
Think about things you are good at doing, domains in that you excel .
Don’t miss anything ! What may appear to you like a a walk in the park , some people may find it difficult. You are better than average in Photoshop? Great, someone less experienced will pay you to do work for him.
This is the way you need to think. Remember, this is just a brainstorming phase just to find your strong points.
3. What kind of business appeals to you?
Now, note down the businesses that you admire. Amazon, Facebook, Ebay etc. Analyze their business ideas. Do they appeal to you? Note them down on a list until you have a total of 15 different business ideas
Again, you are not choosing 1 business idea right now, you are brainstorming. When the time comes to choose, you will have a hefty list of ideas just for you .
4. What do you enjoy doing?
Nothing will get you more exited than a job or business that you enjoy. Turn your hobby in a job, but first note down all the things you enjoy doing.
5. What business model would you like?
Will you sell a product, service, or both? Would you have a home based business or an office building? Will you sell online or offline?
Take in consideration all of the above, and add some questions yourself. The best way to answer this is to start with “If i had a business i would …..” and continue it yourself.
Shear down your list
Eliminate any business idea that you’ve written that doesn’t match your business model, or are impractical. Are you good at something, but you don’t want to do it for the next following years? Cross it off the list.
Now, the ideas that passed the examination are apt ideas for your business. Remember to pick something you enjoy doing ,even if for a small amount. This way you wont feel like “working”, but turning your hobby in a business.