How to Find the Business that is Right for You

You have taken a bold step to start a business and invest in an idea. The next step is finding the business that is right for you. The possibilities are endless and structures different.
You tend to face lots of competition, supply issues, branded products and low startup capital. To get a clearer picture you need better understanding of different types of businesses. Here are important things to consider before making  a choice.
Product or Service
You need to determine the type of business. Are you offering a service or selling a product.
Service oriented businesses are usually dominated by educated professionals in specialized fields.  Service provider leverages on technical knowledge and deduction.
Such services include, provision of healthcare, mechanics, teachers, realtors and bankers. Others include accountants, entertainers, bookkeepers and consultants.
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Business Services
  • Educators
  • professionals in specialized fields
  • technical knowledge
  • healthcare services
  • mechanics
  • teachers
  • realtors
  • bankers
  • accountants
  • entertainers
  • bookkeepers
  • consultants
Products
Professionals can also offer products such as carpentry, making furniture, selling of digital products. The key to finding the right business is to offer either a service or sell a product.
The industry your level of education and talent would determine the industry you operate. The only binding factor in products or services is marketing. Irrespective of the industry you choose you need effective marketing.
  • Hand Crafts
  • Manufactured products
  • Crops
  • Farm produce
  • furniture
  • selling of digital products
Online or Terrestrial
Once your have chosen a product or service to offer your customer you need an office. The office could be Homebased, dedicated store or online.
You need to consider opening a storefront or not. A products sale involves having a physical location for your goods.
Product sales have different variations such as using third party merchants. Others are in-house stock or offering eCommerce solutions.
Choose Niche
Choose a niche based on your education, technical knowledge and interest. Offer service or sell a product. Product sales involve wholesale or retail structure. You might decide to go into manufacturing or the creative arts.
What you need to succeed
To succeed you need to have passion for the business. Other requirements are good location, supply chain, qualified staff and tenacity.
Start by writing a business plan, studying your competition and offering added value services. Always strive for quality and professionalism. Don’t forget to put in place advertisement and marketing strategies.

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