What Business Do I Choose?

Having a hard time knowing what to do for your business?  Here are some ideas and links that will help you get started.

If your mind is blank, sit down and MAKE A LIST!

Make a list of as many business ideas you can. Name everything and anything that pops into your head; things you like to do, products you like to use, products you think need improvement, things you like to think about, things that bother you. Here’s an example…

1. I love bike riding

2. singing

3. cotton candy

4. My kids feet always grow out of their shoes

Next, Begin to list any possible business that could work for each thing listed. For instance, if one thing on your list was “bike riding”, an example of businesses would be…

a. selling bikes

b. selling different bike products

c.  biking blog on different bike trails

d. biking blog on how to purchase the best bikes

e. blog tutorials on how to paint/fix/upgrade your bike

This should give you a pretty good start and help those thinking gears to start turning in your brain.

You may get more business ideas by referencing back to this site Business Models on the Web. Go through each model to see how each item on your list would fit within each business model!

Here are some links to look at that will give you more advice and ideas…

BizThoughts Brainstorming Business Ideas

www.entrepreneur.com

Or just Google it! There is a ton of information out there on the web that will help you.

Google Search “how to get business ideas”

Also, consider these things on a scale of 1-10…

  • What will the start up time be?
  • What is the level of demand (time/energy)
  • What is my level of passion for this business?
  • What is the start up cost?
  • How easy is it to get a supplier (if applicable)?
  • What is the level of competition (ad words will give you an idea)?

You can make a spread sheet in an excel document with this criteria (and any other you may consider important). Rate each one on a scale of 1-10. Determine the weight of each (cost is worth 10% in my decision of what business to choose, level of competition is worth 20%).  This can help you visualize and may help you get a sense of what is going to be the best business for you.

You have competition?

If there are a lot of competitors, is there something about your business that makes you different, unique? You need some kind of niche, something that makes you more desirable then the others.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s