I am clueless about the type of business I can start. All I know is, I’d love to start a business but I just don’t know which.
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I am clueless about the type of business I can start. All I know is, I’d love to start a business but I just don’t know which.
First, you have to figure out what you love and see how you can make some revenue on it. Now the risk here is, this may be something you love so much that having it bring in cash might hurt the way you feel about it. So be careful. What I also recommend doing is outlining a game plan. Now even though you don’t have an idea of what you want to start, you know there are general steps you’ll need to overcome. Come up with a list of items that you know you’ll need and start thinking how you’ll solve them. When you complete that list of items you need help with, you’ll find several things that you just don’t know how to do. Don’t try to figure them out on your own. You’ll end up burning yourself out or worse, messing up the project entirely. Let your money take care of you. Go out and hire experts to step in and do the legwork for you. There will be tough times along the way. There will be failures and set backs. There will be ups and downs. Try to keep a positive attitude and enjoy the small victories. Your perspective and attitude about all of this will impact the success and longevity of your business.
Try and examine yourself and find out your talents, skills, passion and values. Then you figure out your strengths and weaknesses, make a list of both the things you love doing and the things you’re good at doing. When you’re done with this list, and hopefully it’s a long list, You need to understand that the end goal is for you to do something you have passion doing, because running a business can be a bit frustrating, and it’s your passion that will fuel your enthusiasm, so make sure you are doing something you have passion doing, provided you’re adding value, then move to the next step which is betting on your strengths. The second thing you need to consider is working on your strengths. It’s really important for you to understand that there are things you can do very well and there are other things you are not so good at doing, so my suggestion for you is to focus on the things you are very skilled at and then get someone better suited for specific work to help you out with that, it’s ok to try and do it if don’t have resources to hire someone but when you start growing and you can afford it, then it’s ok to get help, so focus on things you’re very skilled at. when starting start with things that match your skills, and then when you have the manpower, switch to the things you love doing the most. Lastly you need to make sure that the business you’re starting is profitable.
From the list you made earlier on, check the business that is most profitable which you have enough skill and passion for, and do it because you don’t want to start a business that has a poor ROI.