1. Choose
something you enjoy or are interested in.
You will be spending
time and energy on your business so make sure it's something that
you like. You don't have to be madly in love with whatever
you select (although it's nice if you are) but make sure that you
at least don't dislike it.
I know this seems obvious, but you would be
surprised at how many people try to start a business they have no
interest in just because they heard of someone making money that
way. Trust me, if you enjoy your business you will make a
lot more money with it for a lot less effort.
2.
Do NOT pay money to someone who sells
pre-packaged businesses that you can run.
Although these aren't always bad, most of the time these "opportunities"
are only good for the people selling them. If you have
money, put it into your business, not someone else's pocket.
3. Choose a
business that you have time for. You
want a business that you can fit around your schedule. For
example, if you are a busy mom then a business that requires you
to be available to customers 24 hours a day probably isn't the
best choice for you.
4. Choose a
business that there's a need for.
Make sure that at least someone out in
the world has an interest in buying whatever you are thinking of
selling. Usually there's a market for almost any product or
service these days, but some are tougher sells than others.
For example, trying to sell 8 track tapes is a lot harder than
selling CDs and DVDs.
How can you tell if there is a need for
your particular business?
- Are there web sites selling whatever you
are thinking about? If so, then that means people
are buying so that's a good business.
- Have you ever thought "Gee, I wish
someone would make X" or "Gee, I wish I could find X." If
you have ever wanted something chances are other people have
too. Go for it.