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.