Based on my personal experience as a business writer, entrepreneur, and inquisitive human being, I believe that there are several key qualities people need to possess or cultivate in order to start their own business and have a strong chance of succeeding.
Let’s face it: Anyone can start a business, and many (unqualified) people do. The question is: “How many people have what it takes to succeed in business?”
Although countless books have been written on the topic of succeeding in business, I’m going to attempt to boil down those volumes of wisdom to the following two concepts [drumroll, please!]:
- A good business idea: This first category opens up a rather large “can of worms” (yuck) because it raises more questions than it answers. For example, pinpointing a good business idea is like trying to hit a moving target. It depends dozens of variables, some of which change over time. Regardless, I’m going to take a stab at answering that question. In a nutshell, a good business idea would be one that you’re not only passionate about, but one for which you possess relevant experience. Being strongly motivated to acquire expertise can sometimes substitute for actual experience. When you’re committed to becoming an expert, then you’re providing yourself with a competitive advantage and an inside track to achieving your goals. In assessing a potentially good business idea, it’s also necessary to examine whether there’s an actual demand for your product or service, and whether you have the organizational skills, marketing abilities, and financial resources to get your business up and running. While there are businesses that require little or no money to get started, it almost always takes weeks or months before you’re able to build up a customer base and generate a steady cash flow. Some people either give up before they get to that point or are forced to abandon their business because of financial or other reasons.
- “Knowledge is Power!” The first time I heard that expression was from my father when I was in grade school back in the 1960s — yeah I know, I’m old! The second time was when I went on a class trip to the town library. Those words were affixed to the front cover of a book I picked up. Once I got over the shock that my father did not originate that saying, I developed a deep appreciation for the acquisition of knowledge — especially practical knowledge that you can use to improve your life. When it comes to starting and succeeding in a business, knowledge is one of the cornerstones of success.
How to Choose and Start Your Own Business
In addition to helping you come up with good ideas for starting your own business, another purpose of this blog is direct you to useful information, start up manuals, and other practical resources. Here’s a list of some of the most popular business startup ideas and where to get more information* on effectively starting, managing, and marketing your own business.
- How to start an online business on Shopify
- Starting a dog-walking and/or pet-sitting service
- Lawn care and/or lawn mowing business
- Event planning business startup kit
- How to start a tutoring business
- Start a craft business
- How to run a profitable handyman business
- Starting a fitness training business
- Detailed guide on running a non emergency medical transportation service
Other possibilities for starting your own business include a Web design business, a property preservation business, party planning, bookkeeping, a recycling business, selling cupcakes, landscaping, construction, trucking, transportation, house painting, interior decorating, clothing business, retail, import/export, ebay business, business marketing services, cell phone business, courier services, personal assistant service, delivery service, florist, HVAC services, home remodeling, plumbing, electrical services, roofing, floor installation, hardwood floor refinishing, gardening, home staging, food truck, daycare, wholesale business, freight broker, bakery(cakes, bread, cookies, pastries, donuts, cupcakes), window cleaning, starting an Etsy shop online, taxi service, tax preparation business, restaurant, coffee shop, pest control services, a franchise business, interior design, greeting cards, pool hall, gym business, photo booth business, corporate recruiting, life coaching, career coaching, manufacturing, gift basket business, welding, swimming pool cleaning and maintenance, virtual assistant, dog breeding, dog training, doggie daycare, furniture, clothing, shoes, renovation, marketing services, and much more.
Thanks for checking out my latest blog post. Feel free to contact me if you have any questions, comments, ideas, or suggestions.
Best of luck with all your business ideas!
*Compensated marketing affiliate