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You want to choose a business that you are already good at. Something that you love to do. Something you think and talk about all the time. You are thinking about starting a business for a reason. Either you are tired of your boss, want more money, need something to work around your life's schedule. Why choose something that you don't know much about? Something that is going to make you work that much harder to get started.
What are your talents?
Example: Do you love to cook? Do you love to eat and try new foods? Do you spend a lot of time researching recipes? Why not open a restaurant, catering business or similar?
Example: You are a mechanic. You have at least 3 years experience. You also like to barter and trade. You are good at selling things. Why not start with a used car dealership? You can buy cars with problems and fix them up and sell them. There are lots of options to choose from.
Example: You are a great socializer. You have 5000 friends on facebook. 40,000 followers on Instagram. You spend a lot of time ranting on Facebook and Twitter. Stop giving all your valuable content away for free. Why not start a Blog/Vlog and get paid. Having your own website and having steady content every day can get you paid using google ads. The same goes for Youtube. Creating videos on youtube and building your brand can get you paid for video ads. There are a lot of people on youtube making 6 and 7 figures from making videos.
Example: You spend a lot of time riding bikes. You know everything about them. You have been breaking down and putting them back together since you were a kid. Why not open your own bike store? You are already knowledgeable about them.
A simple way to put it is, working for someone is like renting a house. Renting can be a great option for someone that is always on the move and traveling the world. You don't have to worry when problems happen you can just pick up the phone and call someone to fix it, but you are paying for something that will never be yours.
This concept is the same as working for someone. You can spend 20 or 30 years working for someone but the company will never be yours. You are helping someone else with their dreams. Most companies don't even give you a pension anymore.
When working for someone you can be laid off or fired in some states just because. If you live in a right to work state, you can be terminated for any reason as long as it does not go against certain discriminatory laws etc.
When you own your business it's similar to buying a house. This house is yours. You can change what you like. You are always trying to improve your house. When your house is paid off it's yours. You can rent it out and buy another house and collect money from your rental.
Online Retail - Starting an online retail business can be a nightmare for most. It sounds like a great idea but you have to think of all the competition you have. You may think hey I know a lot of people and can get family and friends to purchase and have it all figured out. Unfortunately, it doesn't work that way. Even if you do get your family and friends to purchase how many times can they really keep purchasing from you before it comes to a halt.
Online Retail is great for people that are experienced in online marketing. There are several skill sets that go hand and hand. One of them is going to be website building and coding. The other is understanding SEO and SMO. There are a lot more skill sets but we will leave that for another post.
This specifically comes from personal experience. Coming from someone with multiple skills and trades I started this t-shirt printing company. It has not been the easiest experience but I've learned a lot from it.
Something you know nothing about - Starting a business that you know absolutely nothing about can be harder than it seems. One of them can be something like a photographer.
Example: You have an iPhone 5 and you take great pictures. Get lots of likes. You figure hey I'm going to start a photography business. You go out and buy a new DSLR with the lens package from Bestbuy. You then find out that you are going to need a website. You also find out that you are not familiar with real photo editing software like Adobe Lightroom or Photoshop. Now you are going to spend the next few years learning how to build and update your website along with trying to master photoshop.
Even though some businesses may be hard to start doesn't mean that you should not do them. You can always use your regular job for your main source of income until you build your experience.