Finding a Business That's Right For You

Jeff Williams
Finding a business that matches your personality is the most crucial step in becoming self-employed. It makes no sense to leave an unfulfilling job to go into an equally unrewarding business enterprise.

> Your Goal: Find a Good Match

To help assure that you find a good match, you should candidly consider your lifestyle, interests and experience, A good place to start is to ask yourself if you like working with people or prefer to work more by yourself. If you are shy and will be uncomfortable around new people, you'd be best advised to stay away from a high-profile selling scenario.

On the other hand, if you thrive on the energy of other people, you probably won't he happy in a business where your must work by yourself a great deal, such as an accountant.

Review the things you like to do best. For example, if you love to go camping and hiking, a business in outdoor recreation might be a good fit for you. But what form should it take? Sporting goods store? Expedition leader? Equipment manufacturer? Newsletter publisher? You can quickly see that one idea can develop into many forms. Although you may eventually try them all in your business, you need to focus on one at the beginning.
How do you go about doing that?

> Take Advantage of What You Know

It's generally advisable to start with something you have done before and are good at. Ask yourself what basic skills are required by this activity. For example, are you good with your hands? Do you speak well to groups? Can you write well? Are you well-organized? If your don't have all the necessary skills, can you learn those you need?

Another good way to learn the pros and cons of a business you're considering is to seek out people in the same or similar businesses and talk with them. Ask them first for their advice. Observe how they function in their work.

Read books on the subject - but be careful not to try starting a business on the basis of a book's advice alone - you can be getting information from only the most optimistic viewpoint.

The best source for learning is to actually work in the business. In the ferociously competitive world of small business, this is not always possible. Still, it's worth trying to find a mentor who can describe the pitfalls, frustrations and potential disasters as well as the successes

> Seven Ways to Come Up With A Dynamite Business Concept

- Look for Opportunities at Work. Corporations are eliminating operations, thus creating gaps in service. If you can deliver this service, you may be able to start in business with several substantial customers.

- Become a Better Observer. Carry around a notebook and jot down products and services you can't find. Note when you don't get good service or when a product doesn't deliver what it promises. Can you do better?

- Re-establish Something That Has Disappeared. There is a tremendous nostalgia boom in America because consumers are basically dissatisfied with today's level of service. Is there something you enjoyed in the past but which is no longer available in your area? See if others share your interest.

- Give New Life to the Ordinary. Imagine the perfect setting for a routine service, such as shoe repair or dry cleaning. See if you can bring it to life and still make a profit.

- Study Trends. TV news programs, magazines and newspapers all report stories
that reflect changes in values and lifestyles. Current examples include difficulty in coordinating family schedules, a more conservative investment outlook and an aging population.

- Uncover a Business within a Business. Some businesses have become so overblown that their essential service has almost been ignored. Resurrect it and create a new demand for an old need.

- Look Back to your Childhood. Your old hobbies can grow into a business.
You can start out with the advantage of an area you already know a lot about.

ABOUT THE AUTHOR
Jeff Williams worked for big business for years, until he decided to take his career in his own hands by establishing his practice as a small business trainer and coach. For those seriously considering self-employment, he is pleased to offer his free, monthly telegroup: "Are You Ready To Leave Your Job?". Register at: http://www.bizstarters.com/ready2leave.cfm
Jeff may be reached at 847-593-5305 or by e-mail at: jeff@bizstarters.com