Identify what kind of business you want to have.
Many people have considered starting a business - after all, you get to be your own boss! However, identifying what kind of business you want to have is difficult and requires careful research and planning.
Brainstorm and write it all down.
Get a blank piece of paper and jot down any ideas. It will help to complete the self-inventory action from Chapter 7, as you will gain a better understanding of who you are professionally. Look at your resume (write it if you haven’t yet!) and see if that gives you any ideas for a business.
If you’re stuck for ideas, make a list of five things you are good at. Then, make a second list of five things you love to do. Make a third list of where the first two lists overlap and ask yourself, “Will anyone pay me to do these things?”
Read more about possible business ventures.
Use the internet to find out more about the business venture you’re most passionate about, then the one you’re second most passionate about, and so on. You can use websites like www.sba.gov and www.workingsolo.com/resources/resources.html.
Interview business owners and find out what it takes to make your kind of business idea work and write it all down. Then, make a list of the skills, knowledge, or experience that you have. Compare both and identify what are the skills, etc. that you are lacking. Finally, go out and hire or co-opt a friend or volunteer that has those skills you are lacking.
Get feedback on whether you are ready to start a business.
You can use www.workingsolo.com/faqstarting.html#Ans1. It is a self-examination type questionnaire that you can fill out to get a better understanding of whether you’re cut out for this.
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