How to Choose the Right Business Idea

How to choose the right idea for starting a business!

So you've come up with several great possible ideas to start a business, eh? Awesome! (If you haven't, check out this post on how to brainstorm a business idea!)

So now you might be wondering, which idea do I choose? Which one will make me money?

Unfortunately, there's no guarantee that a business idea will make money, so make sure that the potential business you are wanting to start is something that you 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 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 idea that you have, answer these 4 questions. If you answer NO to ANY of these questions, 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?

2. Are you willing to spend a crap ton of your time and energy on this idea for the next 2 years?

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 business you envision before starting one!)

4. Is there a clear market of people already spending their hard earned moolah on this product or service?

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. Now that you have a great idea that you love, time to get moving! Check out this post for the steps you need to take to get that idea off the ground!

And on that note, time to go frolic outside.

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