Business cards (Photo credit: Simon Collison)
Before you think I’ve mislead you, this article is not a “how-to” article about finding the right business for you. Rather it is a somewhat autobiographical essay about my as-yet incomplete quest on this topic. I also request any of you who own your business to share with us how you picked your business idea and got it going.
Choosing a business to start or buy is a very personal journey. Obviously you need a business that really excites you because it takes a lot of time and effort to get any new endeavor off the ground. It needs to be your passion, not your job. I needs to fit your desired lifestyle too- if you like attending networking events and Chamber of Commerce meetings to meet potential clients and build your business, then you won’t be happy trapped in a workspace with little people-contact.
If you are married, have a life partner, or some sort of family then not only is this a personal journey but it also involves these significant others. For me, I could never start a new business without the moral support of my wife. She is also a compass to make sure I don’t go off in some wrong direction.
My family is made up of very technical people- my wife and I are chemists, and our children are scientists and engineers. I would love to have a business that could involve them, so some of the common franchise ideas simply won’t work for us. I can see any of us being happy in a duct-cleaning business, or a massage franchise. Unfortunately so far I have found very few franchises that match our personalities. Also, I haven’t yet found an existing business that makes sense. I looked at an environmental testing lab (which would have been a great personality fit) but the owners wanted about twice what the business was worth. I also looked into a local bicycle shop (on of my hobbies) but the business could never make enough money for us to live on.
So, the search continues!
I would really love to hear from you! Please tell us your story. either leave your comments below, or email them toinfo@parriottassociates.com. I will post your comments anonymously if you prefer.
- Do you own a business, or are you also in search mode?
- Did you buy it, start form scratch, get into a franchise, or inherit it?
- What resources did you/are you using to come up with ideas?
- How did you choose this line of business?
- Are your family/friends involved?
Related articles:
- So You’re Thinking Of Going Into Business: Part 1- Do You Think You Have What It Takes?
- So You’re Thinking Of Going Into Business: Part 2- Starting From Scratch
- So You’re Thinking Of Going Into Business: Part 3- Buying An Existing Business
- So You’re Thinking Of Going Into Business: Part 4- Buying A Franchise
- What Do You Want to Do in Your Business?
- 5 Tips for Transforming Your Hobby Into a Business From the ‘Toy Hunter’
- Don’t Let Your Passion Destroy Your Dreams
- A Word of CAUTION to Technical People Starting a Business
Happy Thursday NJSBF!