Starting your own business has a ton of benefits. Though you do still have to be competitive within your industry, you do get to set your own work hours and schedule, your ability to earn isn’t limited by a certain wage and a set number of hours, you get to pick your clients, and you get to create your own rules. Sounds great, right?
But what do you do if you really, really want to be a business owner, yet you have absolutely no idea as to what business to start? Nothing is jumping out at you, screaming, “Pick me! Pick me!” Fortunately, if this is where you’re at, there are a few options to consider that can help you start your journey toward becoming a full-fledged business owner.
Trust your intuition
Because starting a business can be scary, it’s easy to have an idea and immediately talk yourself out if. You come up with every possible reason as to why it won’t work, convincing yourself that you have to come up with something else.
If this is you and you keep going back to the same idea again and again, then maybe it’s time you trust your intuition and begin to follow your dreams. To follow your gut smartly, it helps to ask yourself why your business idea is important to you, to stay in the moment so you can keep better track of how you feel, and to listen to your body so you’re always in tune with what it’s trying to tell you.
Think about your problems
There’s an old English proverb which says that “necessity is the mother of invention.” In other words, some of the best inventions occur out of need. A person encounters a problem and creates a product or service that fixes it. Soon, others hear about it and want relief too. Some examples of products born out of necessity include playing cards for the visually impaired, hurricane fabric, and the MiniSportBelt.
Think about the problems you or those around you face. What are some ways you could potentially solve them? Would a particular product help? What about a service?
Consider your skills
Another option is to consider the skills you have and how you could potentially turn them into a profitable business. Maybe you’re good with woodworking and would do well with a furniture store or could create custom wood signs. Perhaps you have skills as a writer, enabling you to freelance and build a solid business in that industry.
If no particular skill is jumping out at you, there are several different online quizzes designed to help you find your dream career. Take one or two of them and see if any ideas catch your eye. You could also ask friends and family what type of business they could see you owning. Oftentimes, they see our strengths more clearly than we see them ourselves.
Use other people’s business ideas
When most people think of starting their own business, they think about their own product and service offerings. However, some companies make extremely large annual revenues by selling other people’s products. Amazon is probably the most well-known, with eBay and Etsy two other fairly common platforms.
This is called e-commerce and involves taking someone else’s products and selling them on your own site. What products could you sell? Some of the best business ideas today include selfie drones, smartwatches, mirrorless cameras, and dash cams, which makes them worth consideration.
No matter which route you take to create your own business, remember that it’s never too soon to start. The faster you get your new business going, the sooner you can become your own boss and enjoy the benefits that go along with it.