How to Find the Right Business Idea

2024-05-22T22:23:12+00:00

By Bede

I have found that quite a lot of entrepreneurs (especially young ones) today do not give much thought to the sustainability of a business idea before embarking on it or investing in it. They simply go into any business that is the rage with the assumption that they would start raking in profits in a few short weeks.What they do not put into consideration is that the fact that a particular business venture works for someone you know is no guarantee that it will for you. One of the many reasons why this is so is because there are no two people who are exactly alike and more often than not, this reflects in our application to different ventures. Another reason is, as we have earlier mentioned, when we do not take stock of what it takes to go into business, or ask ourselves why we want to go into that particular business.In the pursuit of success in life and business we must learn to harness our unique gifts, talents and potentials. These, coupled with passion, produce in us a special grace to succeeded in our areas of calling whether in life generally, or in business particularly.The discovery, development and commercialisation of these secret code of success called talents potential etc, is what gives birth to sustainable success in life and business.Having said the above, I will leave you with a few practical ways you can know if you are about to enter into a business that you can sustain. When you see someone prospering in a certain business and you decide to go ahead to start that same business, first ask you self these questions and answer them honestly.

Am I wired for this business? Does it fit in with mu natural gifts, talents and calling?
Do I have the passion for it? Do I absolutely love the idea itself, or am I just in love with the prospect of making money?
Why do I really want to go into that business? For profit first or for impact first, profit later? (This is where many young business people miss it; they always want profit at the start of their business. No, every sustainable business always makes impact first before profit. You can only get loyal customers from those you have impacted, get it?)
Do I have the inner strength and desire to continue and be consistent in that business for a long period of time, or will I pack up and run when the going gets tough?

Answering these questions sincerely is the first step to choosing the business that is a right fit.