You hear it all the time: "I want to
start a business, but in what?" There are several ways to look
for an answer. Very often, as a driving force, people want their own
company instead of working for someone else.
Here are some
prevalent approaches;
What are my talents and skills?
People
look to start a business because they are good at something, and they
want to offer that service or skill in the market place. Not bad,
this has possibilities.
People look for a business opportunity, a
need, or a problem to solve. For example, in my region there are no
gardeners, so let's start a gardening service. Sure, why not.
People
look to start a business in the line of their passion, things they
like (to do). Yes, it might work, but be careful; your passion and
the market place do not necessarily line up.
Still, the above
approaches do not always leed to an answer to the initial question;
what business to start?
When my wife tells me she is going
shopping, she does not always have a specific, exact plan in mind.
She might go for 'something' for the upcoming winter season and see
what's in store. So, why don't you go shopping? Instead of looking
for a new business to start, why don't you check out what businesses
are for sale? You can buy companies just like anything else; there is
a market for it. And once you see what is available, start from
there.
Buying a business is, just like starting one, a process.
You have to make a business plan and do your due diligence. Some
brokers sell companies, just like real estate; companies from owners
who went bankrupt, those who retire, those who do not like business
life anymore, and so on. Google it, and you might be pleasantly
surprised what new ideas you find.
Consider following/subscribing to this blog. It's free and it motivates me to sharpen my pencil. Thanks!
Top 10 about the author; Erik Victor
1. is a serial
entrepreneur and started his career in Engineering
2. currently a
majority shareholder in corporations in the fields of Industrial Real
Estate, Wealth Management & Investment funds, and International
Tax Planning
3. has a passion for the dynamics of young
businesses and actively endorses several start-ups
4. is an
engaged member of several think-tanks and an international conference
speaker
5. has a business footprint in six countries
6. speaks
five languages
7. personal life - resides in Europe
8. Erik
(48) is known as a discrete and private person, a family man
9.
loves to spend his limited holidays in the mountains or at sea on his
yacht
10. Erik has no social media accounts
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