HOW DO YOU KNOW WHICH BUSINESS TO START?

Many people are keen on starting a business however, they are not sure which business to start. The question is how will you know which business to start? This is an important decision to make in Entreprenuership, because it could determine the success or failure of your business. I have come across people copy somebody else’s business idea and choose to start a business in the similar field. This is not a good recipe for starting a business.

A business idea can be a success for one person, and be a dismal failure for another person. Have you ever stopped to ask yourself why some people run successful B&B businesses and others can’t seem to get the same concept (even in the same area) to thrive. One of the causes of this failure is starting a business which is not in your area of interest and talents.

Enterprenuership is not an easy endeavour. It involves a lot of hard work, a lot of sacrifices and a lot of extra hours to succeed. Enterprenuership requires creativity, knowledge, innovation and flexibility. It also requires energy, determination, resilience, commitment, dedication and perseverance. These requirements can be daunting if you start a business which is not in an area of your interest. However if you have a passion for what you are doing, these requirements can be a breeze. You will find yourself meeting all these requirements without much effort on your part. Passion is a glue that binds all of these requirements together.

It is important to choose a business which is in your area of interest, talents and where your passion lies. Before you dive into business ask yourself the following questions?

  1. What are you talented in? What naturally flows for you, without you even having to try?
  2. What are your strengths? What are you good at?
  3. What is your favourite topic to discuss?
  4. What is the one thing, that people around you know you are good at?
  5. If money was not an issue, what would you be doing with your life?
  6. What are you really passionate about?

Answering these questions will force you to take an honest journey of self-reflection. This is a worthy exercise not your business but for your personal growth as well.

Once you have found an answer to these questions, then you can start thinking of business opportunities within your area of strengths and talents. This will assist you to start a business in your area of passion.

Operating a business in your area of talents, makes it easy for you to come up with creative and innovative ways to improve your business. Putting in extra hours will not be a daunting challenge for you, it will come naturally, and it will not feel like hard work because you will be doing something you are passionate about.

If you require assistance with identifying business opportunities within your area of interest, you are welcome to call us for guidance.

Written By: Nozipho Ndlovu – 082 752 2673
SMME Bootcamp Facilitator – Azmon Nimrod Consulting

2018-09-16T16:33:37+00:00