3.+Find+and+evaluate+opportunities+to+start+a+business

Find and evaluate opportunities to start a business.

1) Do something that you love: a. It is important in anyone’s life, to enjoy what they spend the majority of their time doing. Choosing a career, you do not hate leads to achieved happiness and success. Whether it is a hobby or a skill; find something that you can fully enjoy doing. i. If you have a hobby that can be turned into a cash product, you can start a sole proprietorship, sell wholesale, or sell by mail via internet.

2) Living one’s passion: - Every human being has their own passions and dreams. And each of those passions differs from the other. Starting a business that would fulfill such passions is a type of business that would not only be unique but is also under the sole ownership and control of that respective entrepreneur.

3) Find a “problem” to fix: a. Many businesses/inventions/improvements are launched and successful because people find problems with something, and they create a better version/process for it.

4) Become a consultant in the industry: a. If you have the gifts and abilities to improve and solve problems within a business, how to efficiently manage, improving profit, etc.; you can become a industry consultant by selling your advice to businesses.

5) Partnership: - If a potential person has a unique idea and interest in starting a business but does not have the necessary facilities; that person could partner with another person with the same interest. By doing so the costs, liabilities and responsibilities can be divided.

6) Buy a franchise: a. This is a great route to business ownership if you don’t want to or unable to create your own product. You follow general rules/guidelines set for all the franchises, however, you can personally own YOUR franchise location.

7) Looking for needs: - If the community you’re living in has a desperate need; there is a potential window for business. For Example; if the area where you living is close to a college, there are high chances that numerous students might want a place to rent. Using that window, a potential entrepreneur could purchase a condo and rent that out to students for monthly rates.

8) Creativity: - “Entrepreneurship is the opportunity to establish and operate one’s creativity and make profits”. With that being said, if one has a unique and rare idea for starting a business that potential person should implement that idea in to running a business and making profits.

9) Analyzing the market: - Always keep a close look out for “What’s hot” in the market, meaning; gather, analyze and study the highest need in the current market. Based on that need, one could start a business to provide to that need.