Starting a small business is one of the most important decisions you can make in your life.  If you do it right, then there is no telling how far you can go.

So how do you pick a business that’s right for you – one that is suited to your strengths, one that you are passionate about, and one that allows you to make a nice profit?

First, make a list of the things you are passionate about.  Write down everything that excites you, what it is that you love most.  Once you know what you love, figure out what business you could start that relates to that love.  Then determine whether you can make a sufficient profit from it.  There is no sense in starting a business, no matter how passionate you are about the idea, if you will not be able to make a good living.

If you’re unsure as to the viability of your idea, do some research.

  • Are there any businesses similar to the one you want to create?
  • How much does a small business of the type you want to start make?
  • How quickly do they make it?
  • What startup costs are involved?
  • Does your idea fill a market need?

Although pursuing your passion is a start, you also want a business that fulfills a market need.  The most successful businesses find a need, a niche and fill it.  Do that, and almost everything else will fall into place.

So before you take the plunge into starting a business, it is important to do your homework and to find a niche that fills a market need.  Use the things you are passionate about to determine if there is a need that is not being met or a problem that needs to be solved.  Figure out what you can sell that people need and you are well on your way to a successful business start.

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