Which is the best business to start nowadays?
Tags: Startup, Startup Lessons, Business Development, Business Strategy, Business

The best business to start is to find the sweet spot where ALL of the following six criteria intersects:

You are so passionate about the money making idea that you will spend ALL your free time working on it (even on weekends!).

You want to create value for people and desire to make a difference in their lives.

You have willing or desperate customers wanting to pay you for your work because you can solve their pain points or problems.

You can create a sustainable living out of that money making idea when you do decide to quit your 9-to-5 job — Remember always that you have to pay your bills!

You have the relevant skills and experience to perform the side gig without much re-skilling or learning.

You want to align yourself with your religious beliefs.

Here’s a seven-step process to explore some suitable business ideas, selecting that one idea that potentially sells, and making that idea work for you.

Step 1 — You brainstorm and select your proposed business idea from a comprehensive list that I have compiled on my blog. Get your creative juices flowing.

— You brainstorm and select your proposed business idea from a comprehensive list that I have compiled on my blog. Get your creative juices flowing. Step 2 — Develop an overall strategy for making money. This step requires you to determine your money making criteria and meeting those criteria. You will need to update your strategy as you gather more information. Remember that people don’t plan to fail, they fail to plan.

— Develop an overall strategy for making money. This step requires you to determine your money making criteria and meeting those criteria. You will need to update your strategy as you gather more information. Remember that people don’t plan to fail, they fail to plan. Step 3 — Acquire or develop a product (e.g., e-Books, tools, coaching services, training, etc) that will help solve your target customers’ problem. The aim is to sell a relevant product to your customers and make money. Test out your proposed product by converting it into a minimum viable product.

— Acquire or develop a product (e.g., e-Books, tools, coaching services, training, etc) that will help solve your target customers’ problem. The aim is to sell a relevant product to your customers and make money. Test out your proposed product by converting it into a minimum viable product. Step 4 — Identify the best platforms and established marketplaces (e.g., eBay, Facebook, blogs, etc.) where the majority of your target customers hang out so that you can sell them your proposed product.

— Identify the best platforms and established marketplaces (e.g., eBay, Facebook, blogs, etc.) where the majority of your target customers hang out so that you can sell them your proposed product. Step 5 — Validate your minimum viable product with your customers using these established marketplaces.

— Validate your minimum viable product with your customers using these established marketplaces. Step 6 — Work hard to market and drive Internet traffic to your chosen platforms so that you can convert your visitors into leads and thereafter transforming them into paying customers.

— Work hard to market and drive Internet traffic to your chosen platforms so that you can convert your visitors into leads and thereafter transforming them into paying customers. Step 7 — Depending on your testing results, you could scale-up selling this product with your own website, find another new product to sell, or ditch the product altogether.

There are no get rich quick schemes to follow. There is no button to press and money comes pouring in.