The fact that you are reading this article indicates that you probably want to own and operate a business. It is very likely that you also have a good idea of ​​what that business will be. I will help you make sure you have selected the right business for you.

The success of your business will be directly proportional to how much you love what you are doing.

Considering how much effort you will have to put in as an entrepreneur to make your business successful, the business you select should be something that you like. There are many reasons why people decide to start a new business. At the top of the list is dissatisfaction with your current job. If this is your situation, try to understand why you don’t like your current job. This will help you select a business that is right for you.

Select a company because it has something to give, because it understands the market, and because you know it will do a better job than anyone else. Don’t choose one because you want to make a quick buck or because “the deal seems too good to pass up.” If your heart and soul are in business, you have a much better chance of succeeding.

The business you choose should meet realistic goals and an honest assessment of yourself. The following checklist will help you decide which business may be successful for you. Bruce bought a fast food franchise because the opportunity seemed too good to pass up. It could have been, but Bruce didn’t know anything about the food business or restaurants, and as far as I knew, he didn’t even like fast food! Would you mind guessing how successful it was? Or how long did it last? Would you mind guessing what happened even though “all the details are well taken care of by you?”

CHECKLIST: CHOOSE A COMPANY

o Is this the type of job that I really enjoy?

Look at your current interests. Many successful small businesses grow out of hobbies because you choose a hobby for all the right reasons … you enjoy the task, the challenge, the time invested.

o Do I have the necessary technical experience?

Don’t go into business if you know little or nothing about it. The story told above is true … and one of many similar ones. When you have the necessary technical expertise, you can ask the right questions, make good business decisions, and evaluate other “expert” opinions.

o Can I make enough money in this business?

First, your financial goals must be realistic. Then look around similar businesses to see how they’re doing. Talk to the owners. Most will give you enough information to decide if it is financially right for you. This will help you choose a business that can meet your financial goals.

o Can I get the help I will need?

If your business is not going to be a one-man operation, you need to find out if the right kind of help is available in your immediate area. Are there similar businesses in the area? Also check with local employment agencies.

o Do I understand the market?

Will you be able to find clients? Do you have the knowledge to set prices properly? Will you be able to run a marketing program? (You may not do it yourself, but you may need to manage the effort.)