You only have to type in "find small business ideas" in your favorite search engine to
discover that this is one of the easy topics to research online. In fact, you will quickly
collect so many ideas and strategies that you may find yourself overwhelmed. But don't
What an online search of this topic will make clear is that there are endless
opportunities for developing your own business, but most businesses can be
categorized in one way or another. Understanding those broad categories, and
determining which categories interest you, is one way to begin taking control of the
flood of opportunities that you will encounter in your search.
Here are some guidelines to help you develop your own approach to finding a business
idea that will fit your goals, your personality and your passions:
Follow Your Passion
Starting a new business will be one of the biggest challenges you will ever face in your
life. It will take all of your time, all of your energy, and all of your expertise to succeed.
Before you begin considering what type of business you want to start, you should first
ask yourself what makes you happy. What type of work makes you want to show up at
your job; what type of work keeps you interested and challenged; and, what type of
work gives you personal satisfaction. Once you answer these general questions, you
should look for a business that will satisfy you as a person on as many levels as
possible. All start-up businesses are hard work. But hard work alone doesn't make them
succeed. It also requires perseverance and creativity. The more personal satisfaction
you derive from the business you run, the more reserves you will find in yourself to go
that extra mile when your business needs you most.
Be a Realist
Yes, we're telling you to find something you will be passionate about. But, don't forget
to keep a clear head. Once you settle on a sector of business, make sure you go on to
assess how your personality and your personal style will fit in that line of business. For
example: If you have decided that you want to work with flowers, you must then ask
yourself if you like to serve the public, meaning would you want to run a florist
business. If not, you shouldn't focus on starting a small florist shop where you would
inevitably have to both arrange flowers and wait on the public. Instead, you might want
to run a wholesale business, run a flower farm, start a service where you pre-arrange
flowers that are then sold by another company, etc. Finding the area within a business
sector that matches your strong suit is the best path to success.
Look at the Financial Picture
As well as finding what area of a business sector suits your personality type, you will
also need to think about the capital that will be needed to enter different service areas
within a business sector. If you recognize that your personal capital is limited, and you
have no previous business history, for example, it would be unlikely that you will be
able to secure a start-up loan to enter an area of a business sector that requires
substantial initial investment. Keeping this in mind will help you - as you research a
business sector - to zero in on service areas for which you can write a convincing
business plan that will secure the financing you will need to get started.
Where to Find Small Business Ideas? The business that's right for you is the business
that will draw on your strongest abilities, and rely as little as possible on the skills that
don't come easy to you.