A frequently asked question on the Internet is “What is a good business to start?”
My short answer to that question is: “It depends.”
Here are ten variables (in the form of questions) that could impact your ability to start and succeed in your own business:
- Do you possess marketable skills, experience, degrees, certifications, training, and strengths?
- Do you have passions, interests, talents, and abilities that could be applied to a business?
- What is the competitive environment in your local area?
- Is there capital and other resources you have access to (or can get access to)?
- How much time, energy, and attention are you willing to devote to a business?
- What previous business management skills and experience do you have?
- Do you possess any sales and marketing experience or ability? (Most businesses require it.)
- How much savings or other income do you have to meet your needs until you’re able to generate enough income from a business to cover your expenses, personal requirements, and business development goals?
- What is your tolerance for financial risk? All businesses entail a degree of risk.
- Do you possess a strong work ethic and the ability to consistently motivate yourself and others to take action, follow through, and provide superior customer service?
The above list contains many of the requirements and conditions needed to launch, sustain, and build a small business. It can also be used as a self-assessment checklist to see if you have the basic traits and characteristics to be your own boss.
Finding Good Business Ideas
Once you’ve determined your strengths, weaknesses, and potential opportunities, the next step in finding a good business idea is to peruse money-making ideas that have worked for others.
One of my earlier blog posts features a list of 250 businesses that may help you discover the best entrepreneurial ideas for your personality, level of ambition, skills, talents, startup funds, tolerance for risk, and competitive environment.
I also invite you to visit my website, Marketing Survival Kit, for more information on how to start, run, and market your own business.
Stay tuned to this blog for more business startup ideas, marketing tactics, and resources.
Business blogger, Internet marketer, Freelance writer
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Thanks for checking out my entrepreneurial blog. Feel free to contact me if you have any questions!
*FYI: I am a compensated affiliate of some of the websites, products, and services I link to on this blog, as well as on Marketing Survival Kit.com