How to Start the Right Business for You

E.Y. writes, “Buzz! Help me! I want to start a business but I have no idea where to start. I feel overwhelmed by the possibilities.”

Dear E.Y.,

“Many people feel that way; you're not alone. If we met in person I'd start a dialogue with you about a few things including:

· What do you like to do? (As a hobby, for example.)
· What are you good at?
· How long have you done that?
· Would you say your knowledge on the matter is a little, intermediate, or a lot?
· Create a list of 5 — 10 things that you love to do.
· Create a list of 10 — 25 things that you feel other people need.
· Compare your two lists. Do you notice any overlap?
· Are there businesses currently doing any of the 5 — 10 things that you love to do?
· Do you think the marketplace can sustain another business in that sector?
· What would you do the same as those other businesses?
· What would you do differently?

Once you've asked yourself these questions, then you're ready to start… PLANNING! Click to MoreBusiness.com and check out the resources there (such as business plan templates).