The #1 Tip For Anyone Looking For Business Ideas

Discussion in 'Business Ideas' started by thealchemist, Nov 25, 2013.

  1. thealchemist

    thealchemist
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    Hello!

    I've noticed there are a lot of people who are looking into starting businesses, who have not yet decided which business to get into. To anyone looking to start a business who is still deciding WHERE to begin, the best advice anyone can give you is this: Listen To Your Heart. I know, that sounds kind of ridiculous, but you must understand that when you dedicate yourself to something, especially a business, whether it's online or offline, there will be problems, obstacles, and difficulties that you WILL face; and the only thing that will keep you going in the face of all of these adversities is the knowing that you are working on something that ignites your passion.

    Listen To Your Heart. Instead of asking other people what business you should get into, ask yourself, what would make me happy? What do I really want out of life? What type of business do I want? Do I want something that offers a recurring income or not? The more questions you ask, the clearer your decision will become, until you are absolutely certain which direction to take that will lead you to the business of your dreams.

    Don't look to get into a business just because it's the hot new thing out now or because you think you might make a bunch of money quickly, because when problems arise, and trust me they will, its so much easier to give up on something that you were never emotionally invested in to begin with.

    Hopefully this has been helpful to someone. Let me know what you guys think about this.

    Thanks!
     
  2. Business Attorney

    Business Attorney
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    While I think that no one should get into a business that feels unrewarding and burdensome, I strongly disagree with your recommendation to "Listen to your Heart."


    Over the more than 35 years that I have advised small business owners and entrepreneurs, a huge number of the failed business ventures I've witnessed were because the entrepreneurs decided to listen to their heart instead of thinking with their head. Not in all cases, of course, but many times the thing you love should remain as a hobby, not as the focus of your business.


    Not every person who loves baking cakes should become a professional baker. Not every person who loves tasting new wines should open a wine shop. Not everyone who loves woodworking should build custom furniture for a living.


    The reasons vary. In some cases, there are many hobbyists willing to sell the results of their "labors of love" for just enough to cover their costs of materials. In those instances, they are basically giving away their labor for free. It's hard to compete with free.


    In other cases, the part of the business that you love doing a represent a very tiny portion of the skills needed to be successful. A very good cook may not have the skills needed to run a restaurant. Managing a kitchen is a lot different than whipping up your favorite recipe. And then there is the whole front of the house that needs to be managed in a different way.


    Listening to one's heart may be a place to start, but let the head, not the heart, do the analysis and make the final decision
     
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  3. amwarner

    amwarner
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    Hey Business Attorney,

    While I do agree with alot of what you're saying, from what I interpret with what thealchemist is saying is that you listen to your heart in terms of choosing something that you're truly passionate about and can make into a business. Yes you're correct, not everyone who bakes a cake should become a professional baker, but they can create an information product around it. I seen quite a few people do that. I can't think of an example for the wine thing, but people that love wood working don't necessarily need to go into building custom furniture. They could create various types of crafts and sell them, or restore furniture if they truly know the proper techniques.

    Listening to your heart is one thing, but you have to use your head AFTER listening to what your heart says because not everything can be turned into a business. I like wine, but not enough to want to create a business out of it. And even so, would I even like wine enough to make a business out of it?

    Business Attorney said it best "Listening to one's heart may be a place to start, but let the head, not the heart, do the analysis and make the final decision"
     
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  4. LittleOne

    LittleOne
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    I agree with you to a degree.

    Yes a person passionate about their business will have a better chance of overcoming obstacles, staying committed, and working to make their business a success… BUT the worst thing you can do is go blindly into a business based on what you like.

    You do need to learn about your market, your competition, the demand, etc. BEFORE you decide to jump in feet first. You may LOVE your hobby, but the demand in your area is low then you may not succeed, or if you have a lot of competition you need to think outside the box. I've had quite a few friends go into debt because the local market didn't match their business, or they didn't plan it well.

    Being passionate about your business does make EVERYTHING easier, but just make sure your careful and do a lot of planning, research, and thinking before you jump in.
     
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