How to Find and Settle on a Business Idea
So, you’re tired of the 9-5 lifestyle, dead-end opportunities, and constantly donating your precious time to someone else’s growth? If so, you’ve probably considered starting a business and you’re on the right track with that idea.
A lot of people want to start a business and escape the mundane nature of a normal job, but they struggle to find and settle on a business idea. They know they want to do it, but they don’t know what they’re going to do with it.
If that sounds like you, stay tuned. Here at AtomPay, we work with tons of startups that have already gone through this step and we know a thing or two about finding a business idea that actually works.
1. Consider Your Interests
Corporate America often comes off as a purely profit-based part of the world. If a CEO can make money off selling garbage they don’t care about, they’ll do it. The problem is, they have tons of people taking on the burden of doing that and while they cover a lot of back-end work, they don’t have to spend too much time actually caring about the main function of the business.
When it comes to smaller businesses and solopreneur endeavors, it’s not that simple. You will be heavily involved with whatever your business does every day. So, you need to make sure it’s something you not only care about, but you’re passionate about as well
Do you spend all day writing? Consider a business that leverages that interest. Are you fashion savvy with a massive closet you can spend hours ogling at? Maybe a clothing business is more your style.
If you build the business around what you love, it won’t be a boring slog and you’ll be more motivated to push through obstacles.
2. Consider the Market
Again, we’ll use writing as an example but please keep in mind that this goes for everything. Let’s say you’re a real word weaver and you love writing some niche sci-fi story in an odd format. That’s great but it’s not an idea the market is going to respond to or that you can reliably build a business on.
Keep that passion as a side hustle you try to develop, and move your bread-and-butter business idea more towards a reliable market such as B2B copywriting, affiliate blogging, journalistic publications, or even the publishing world where you help others.
You don’t have to give up your exact passion just because it’s not immediately marketable, but try to make your business endeavor something you can reasonably rely on to bring in income.
3: Research What’s Possible
As one person with limited life experience, you aren’t going to think of every possibility out there. This might make you feel as if your options are limited and you won’t find a business idea that is suitable for you. Luckily, you don’t have to rely on your own head to get started. Entrepreneurship is so popular that there are plenty of people who brainstorm and share ideas for new entrepreneurs to get started with.
Entrepreneur.com is one of these resources, and it’s a site we recommend every soon-to-be entrepreneur check out. If you can determine your skills and interests, you can find something on their list of business ideas that matches you perfectly.
Put Your Desires First
As you go through these steps, keep in mind that the reason you’re looking for a business idea in the first place is to experience the freedom and fruitful rewards of being a business owner. If you go entirely off the numbers and ignore your own desires and goals in the name of potential profits, you’ll be no happier than you were at a boring 9-5.
Determine why you want to start a business, and use this to guide you through the development phase to create something that truly matches your vision.