10 Tips To Help You Choose The Right BusinessWith so many opportunities available today, it is hard to decide which business is
right one for you. Choosing
wrong business can cost you both time and money, not to mention
loss of your hopes and dreams.
Use
following tips to choose
right business for you on
first try.
1. Make a list of your hobbies - Often hobbies can be turned into a business. You want to enjoy your business, so begin by making a list of
hobbies that you enjoy. Look at each item on your list, and determine which ones could realistically be turned into a business that you can start and operate.
2. Make a list of what you know - other than hobbies, there are plenty of things that you know about. Do you have a college education? Make a list of
things that you consider yourself to be extremelly knowledgable about. Do not list things that you have little interest in, or things that bore you. Look at this list and determine which of these items can be realistally turned into a business that you can start and run.
3. Make a third list from
information on lists one and two. On
third list, only write down
items that can be turned into a business that you can realistically start and run.
4. Loving what you do isn't
only thing to consider when choosing a business. Other people must also love what you do, or need
result of what you do, or you won't have any customers. With your final list, start doing some research. Begin at http://www.overture.com. Click on "Advertiser Center" at
top of
page. Using
Keyword Selector Tool, type in keywords for
businesses you are considering. How popular are those words? Are people already looking for what you can offer them? If your business will be an offline business, what is
need for what you can offer in your community? It is important to have this information before investing time and money. Mark off
items that are not popular, or are not determined to be needed.
5. With
potential businesses left on your list, work up an estimated cost to start and operate each one for
first three months. What is your budget? How much money can you afford to spend on your new business. Remember to add in costs for advertising. You should also consider
costs for your personal/living expenses if you do not have another source of income. Which businesses can you actually afford to start? Is financing an option? Mark
businesses that are no longer realistic off your list.