How Do I Decide What Type of Business I Want to Start?

Deciding What Kind Of Business To Start

Small businesses have often been referred to as one of the most fundamentally important aspects of our economy. If you are reading this, it is likely that you have an entrepreneurial spirit that is propelling you to initiate the business creation process.

Owning a business is likely a personal dream that you have, however, you are probably well aware of the fact that managing a business is a difficult endeavor.

You must start by conducting an evaluation on yourself. Upon finishing this, if you have determined that you possess leadership skills, are capable of making decisions, and have the self-discipline to own and operate a business, it’s time to learn a few steps to determine what type of business you should start.

1. Determine What Makes You Happy

The first step to determining which type of business to start is determining what you enjoy – what makes you happy. If you start a business doing what you enjoy, you will find that your business is much more successful.

In turn, YOU will be more successful. Fulfillment is at the core of this step. If you could do anything in the world and make money doing it, what would you do? Once you are able to answer that question, move on to the next step.

2. Define a Problem

Are you or someone you know experiencing some type of problem? Are you able to offer a good or a service that would provide a solution to that problem that falls within the range of things you enjoy doing?

If you answered “yes”, you are well on your way to uncovering what type of business you should start.

Remember, people are always searching for solutions to their problems. They want to overcome the issues in their life. If you can offer something that will help them accomplish this, you should invest in that.

3. Step Outside the Boundaries

In life, you know that you should always expect what is not expected. When searching for a new business idea, step outside the typical boundaries that define you and your life.

Look for the novel, that which is different, the unique. You may discover many ideas by traveling, unlocking new experiences, or even by meeting new people.

The ultimate goal is to be as creative as possible. People love what is outside the proverbial “box”.


Starting a business is a challenging endeavor. Discovering the perfect business idea may take a little time, but if you take some of the ideas in this article, you may just stumble across the perfect idea for your new business.

Once you have determined your idea, be certain to develop a comprehensive business plan that outlines your mission, values, and goals.

Once you are nearly ready to open up to customers, don’t forget to cover your new company with business loss insurance. For more information, contact us today at: 718-855-1836

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