How to Choose the Right Business Idea

How to choose the right idea for starting a business!

Why, good day old chap!

So you've come up with several great possible business ideas, eh? Awesome! So now you might be wondering ... "which idea do I choose?!?!? Haaaaaalp!!!"

Like ... "Which one will make me money?"

Unfortunately, there's no guarantee that a business idea will make money, so the first thing you wanna do is to make sure that the potential business you are wanting to start is something that you GENUINELY love!

Never go into business just to make money.

Sounds a bit counterintuitive, right?

But if you don't love what you're starting and you are purely trying to just make money, it's going to be exhausting and miserable.

Starting a business is a LOT of work, so make sure that you effing love it!

Plus, people can tell when you're being fake and don't love what you're doing, and you will inevitably turn people off and not attract the kind of customers that you want.

So one more time, all together now: Make sure that you love it! 

Okay? Good!

Now. Back to what I was saying a moment ago before I got sidetracked; how do you know which idea to choose?

To figure out which idea would be best suited for a business for you to start, put each idea through ... the gauntlet. :::evil laugh::: Mwahhh hahahaha!

(Sounds a bit sinister doesn't it?)

For each fabulous business idea that you have, answer these 5 questions. If you answer NO to ANY of these questions, then cross that idea off your list because that means it failed to make it through the gauntlet.

All ideas ready?! Okay, go!

  1. Do you have the knowledge, ability and skills to provide that particular service or product? If no, are you willing to train to get them? (This might require a decent amount of time and / or money, depending on what you need to learn still!)
  2. Are you willing to spend a crap ton of your time and energy on this idea for the next 2 years? No, it might not take 2 years to get your business off the ground, but then again, it might. It might even take MORE than 2 years. Do you love it enough to stick it out?
  3. Is the idea that you're considering aligned with your passion and goal of having a one person, small or big huge business? (You need to decide on the scale of the business that you envision before starting one!)
  4. Is there a clear market of people already spending their hard earned moolah on this product or service? Don't make it harder on yourself by trying to reinvent the wheel with everything- make sure that there is a clear want or need first.
  5. Is this business idea something that aligns with your passions, skills and talents? Again, you will burn out very quickly if you don't truly love the purpose of your business! You idea should ideally incorporate your skills + talents.

Did any of your business ideas make it through the gauntlet successfully by getting a "yes" to each of the questions?

If so, congratulations!!! That is an excellent start. :-)

And if you had MORE than one idea make it through, then just start by CHOOSING ONLY ONE idea to focus on (and really go ALL IN with it!!!) for at least 6 months.

And now that you've decided on an idea that you love, time to get moving ...

Check out this post for a step-by-step on starting and growing your online business.

And now my little pea pod, did you find this post helpful? If so, you can make my day by sharing it on Pinterest! :D

I will send you tons of virtual confetti and good vibes as a thank-you. :-)

To share on Pinterest, just hover over the photo below and click on the little "P!" 

How to Choose the Right Business Idea | Wondering how to choose the right idea for your business or blog? Get focused with this blog post! | Wonderlass

And on that note, time to go frolic outside.

Because it's nice out and the birds are chirping.

xoxo
Allison