Running or owning a business is fast becoming a trend. This is because a business is one of the best insurance you can make for the future of your family. Yes, some people make more money as salary earners, but the work they get paid for is a contribution to building another person’s business. Owning your own business means you are building an empire that you can pass on to your kids. Being an entrepreneur has a lot of perks and benefits that you just cannot get while working a job.
Then comes the question; what is the right business for me? To help you out of that dilemma, we have put together 5 insightful tips on finding the right business to start.
- How to choose the right Business # What are your hobbies?
This is one of the most important factors that will determine the business best suited for you. A hobby is something you enjoy doing. It is something you consider fun. So why not key into it and make a business out of it. It is also a perfect way to pick a business because with a hobby there is hardly any space for boredom. Hence there will be no chance for you to get bored with your business and drop it for something seemingly more exciting.
- How to choose the right Business # Research
Let’s say for example your hobby happens to be cooking. One of the best businesses that will be best suited for you would be running a restaurant. It however takes more than the perfect recipe to have a restaurant running for a long time. So what do you do? Research! Read all you can about running a restaurant, leave no stones unturned. Keep researching until you know all there is to know about owning and running a successful restaurant. Researching will also give you insight on which business is good to start. How would you know if you have learnt all you need to know? Practice with a smart friend. Give the friend a pitch and have them ask you questions. If you answer all reasonably, you are good to go!
- How to choose the right Business # Consider modifying your circle of friends
This is a spill over from tip 2 above. If you found out that you have no smart friends then it’s time for you to go out and make new friends. Build a connection of people who would be relevant to this dream you are chasing now. If your friends have interests different from yours, hang out less with them so they don’t get you distracted.
- How to choose the right Business # Read books on business
By books on business, I don’t mean more books on how to run a restaurant business. I mean books to give you insight into the business world. Books authored by business tycoons. Rich Dad Poor Dad by Robert T. Kiyosaki would be a perfect place to start. These books will keep you fired up for business. They will address and quench whatever fears or doubts you may have about venturing into the business world.
- How to choose the right Business # Your pocket!
How much you have in your account is also one of the biggest determinants of whether or not you should run a business. To start up a business, you need capital. And seeing as robbing a bank is hardly an option, you should look into how much you have. If you don’t have enough to launch the idea you have, worry not. We have the perfect recipe for you in our 5 legit places to get funding for your business in Nigeria.
You may even partake in a what type of business is good for me quiz, although the authenticity of such games may not be trusted. Still, it would help give you more insight.
