What Business Should I Start?

How to decide what business to start: starting your own business requires that you decide what business you want to start, an obvious step, yet many entrepreneurs spend too much time trying to make a decision. See Top 50 Business Ideas.

But, without some sort of guidance, this process can become a “never ending” task as you can get lost in the pile of possibilities and apparent opportunities.

So, whether you are stuck because you have too many ideas and you just can’t pick which one is best or you’re stuck because you don’t have enough ideas.

Here are some steps to help you decide what business you want to start and start moving forward.

TYPES OF BUSINESSES

So first of all, you just need to understand that there are three different kinds of businesses you could start:  Product, Service, and Digital Products.

Product businesses. These are the most common types of businesses. These businesses sell products. For instance, every seller on Etsy, supermarkets, bakeries, etc.

Service businesses provide services to their customers. For instance, hairdressing, website design, consultancy, etc.

Digital Product businesses sell products, but they’re digital products. For instance, Udemy, Netflix, independent content sellers, etc.

Now that you understand your options, you need to generate your business ideas.

GENERATE A BUSINESS IDEA

1-Create three lists:

One of the three will be a list of activities that you enjoy doing. For instance, writing, talking to people, teaching, drawing, baking, hiking, indoor or outdoor activities, etc.

The second list will be a list of interests that you have. For instance, gardening, cooking, etc.

any sort of topic you’re interested in or hobby that you enjoy doing.

Your third list will include the skills that you have. Big or small, whether you are an expert or you just discovered it. For instance, graphic design, editing, diy projects, etc.

2-Once you have created these three lists, you’re going to mix and match between them.

For instance, by reading your list you might discover that you enjoy teaching, you are really interested in baking and that one of your skills is editing videos.

So, then what you can do is think about how you can combine those into a business or a product idea.

So maybe you could create videos that provide classes where you teach people how to bake. Just mix and match three or even two lists. Soon you will be coming up with different business ideas that are a good fit for you, your interests, skills and your personality.

If you need even more ideas, consider referring to the Top 50 Business Ideas.

3-Rank (1 to 10) those business ideas according to:

# how excited you feel about the business idea,

#  how much value it will provide to other people, and

#  how much interest you project other people would have in it. (Later on you will be validating the idea)

Once you’ve rated each of your business ideas, it is time to select one. There will probably be more than one business idea that would be a good fit for you and you could be very successful at. So don’t try to find the perfect answer. Try it out.

And a few months from now, you will either be in the process of building the business of your dreams or you will have figured out that that was not the right business idea for you.

If it was not the best idea then you can cross it off your list and move on to trying something else. Either way, you’re going to be ahead of where you are at present.

As mentioned above, if you need even more business ideas, see Top 50 Business Ideas.