Are there any steps to finding a business idea that is right for you?

[Boreas]

Are there any steps to finding a business idea that is right for you?

Or is it something that just has to come to you?

[Lucas]

Due diligence. Just start looking into opportunities and ideas, do some research and when the right one presents itself to you, you will know. It helps to leverage your strengths and passions too, or at least utilize them.

What are you interested in?

[Boreas]

I think I could go into my interests, but I suppose I am after a general way of getting an idea, as opposed to one that is just for me. This way I feel the idea would be driven by the method and not the individual, and a person would be able to be more diverse in their businesses and life.

[mustard76]

Before focusing on finding the right idea you have to learn enough about yourself to know what motivates you and what you enjoy doing.

Search for something you are passionate about. If you are like me when I started, you have no idea what you are passionate about! I did a lot of testing by volunteering to help friends with their businesses and talking to a lot of people.

Ultimately, I had to start a business to figure out what aspects I enjoyed and what I didn't. I've learned that there are certain business tasks that I just _love_ to do and others that I dread. I've kept a notebook to help me evaluate opportunities in the future against my interests.

If you are looking for a method for finding the right idea for you, I would suggest lots of networking; ask people what they like and dislike about their businesses. Also, do a lot of testing by starting a business to figure out what aspects you enjoy and which you don't.

Once you know yourself, you'll be in a much better position to evaluate business ideas against your own personal passions.

I hope this helps.

What types of businesses have you been considering?

[Boreas]

Originally Posted by mustard76

If you are looking for a method for finding the right idea for you, I would suggest lots of networking; ask people what they like and dislike about their businesses. Also, do a lot of testing by starting a business to figure out what aspects you enjoy and which you don't.

Once you know yourself, you'll be in a much better position to evaluate business ideas against your own personal passions.

I hope this helps.

What types of businesses have you been considering?

This is brilliant advice. A better thread to start might be: "What businesses have you tried and what have you learned from them?"

But I also agree with you about trying things.

So far I am a daytrader and I enjoy managing risk, managing myself, and keeping accounts and stats.

I think I would like to become an investor or banker, or even on the other side, start a wine or fruit distribution company. On the retail side I could see starting a bakery or a produce shop, but I don't like the hours that are demanded in that, or the labor that would have to be hired. So distribution seems better. I did start working part time at a bakery to see the ins and outs and if I would like it.

In truth though, I think investing is my passion, and I suppose that is why I want to fuel a lot of ideas. Maybe the thing to do is to set up shop and see who comes by for finanacing....but I don't know how to advertise an interest in that? Or maybe network like you say and then pick and choose...

[mustard76]

For those who missed it, check out this new thread:

What businesses have you tried and what have you learned from them?