Have you ever had a business idea you just can’t let go? You day-dream every spare minute of what it would be like to run that business. You picture yourself running that business on a daily basis. You talk to a few people who are in that business and ask them for advice. You finally take the plunge and start the business only to find out after you’ve got it up and running that you’re miserable because it’s the wrong business for you.
Here are four suggestions to help ensure this is the business for you:
- Get a job in the business you’re considering, even if it’s part-time. This not only gives you a better experience base, it lets you work with the type of people you’ll be working with and the type of clients or customers you’ll have.
- Select a business you have a passion for or at least enjoy doing. Daniel Burrus advises, “Find your passion and wrap a career around it.”
- Make sure it’s a business that can make a profit. Write out the numbers. What will your overhead costs be and what’s the profit on an average sale? How many sales will you have to make a year to be able to support yourself?
- Make sure there’s a market for your product or service. How will your customers find out about your business? Why will they buy from you?
Learn more about starting a business in $1,000 Start-Ups.