Now that you have made up your mind to start up your own business and be your own boss…..great. Being your own boss can be personally and financially rewarding–if you come up with the right business idea.
Coming up with right business idea is the first obstacle that must be dealt with, though this should not be a big problem if you’re able to ask the right question. And also honestly search deep enough for the answer.
What kind of business idea is the RIGHT idea? Virtually any idea that meets these criteria:
- It must be something you know how to do and can do well.
- It must be something you LIKE to do and wouldn’t mind doing day after day.
- It must be something with a broad enough appeal to sell on a steady basis.
- It must be something that can be sold at a price that will cover all of your expenses and overhead plus return a healthy profit.
- You have or can raise sufficient funds to get the business started and keep it running until it becomes a profitable venture.
Honestly speaking, I believe that the greatest factor to consider when scouting for business ideas is the issue of passion- what do you love doing? That is, if it were possible you would do it, if no one pays you for it?
As Harvey McKay has said, “Find something you love to do and you’ll never have to work a day in your life.”
This is the secret of the rich and business gurus. Locate your passion and see how to make a living doing it- this is the highway into business exploit.
Every business has its own unique challenges, and when they show up as they surely will do, it will take your interest and passion to keep going during the hard times.
If you’re doing something you love, you’re much more likely to stick with it through thick and thin times.
It is not enough to try to love what you do, but rather by all means possible try and do what you love.
Here are some tips to help you discover what your passion could be:
- What is it that hurts and could move you to tears?
- What gets you excited?
- What is it that, when you’re engaged in it, the time stands still?
- What do you like to read and study about?
- What do you like to discuss about?
- Where do you earnestly desire to see a change?
Note, money alone is not a good reason for going into any business. Let it be what you love to do.
Listen to your heart and search deep within you.
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