I have been tagged several times whenever some one posts that question on social media. Unfortunately its one question I don’t have a direct answer to.
Why? You may ask. Are you not a business consultant who is supposed to be knowing all the profitable businesses around? The profitable ventures/sectors that are working for others.
The answer is yes, I know a billion ventures/businesses that are working and turning a profit but the reality is you can’t do all of them neither can we go through all of them before we find which one you may be interested in.
Imagine having to go through a thousand ideas before you settle for one? I could suggest pork and your faith doesn’t allow you to do it. I could suggest a restaurant and your the kind that hates everything to do with cooking.
Therefore, my approach to this question is simple. There’s no business in this world that some one isn’t making money from and in abundance.
All the ideas in the world make money but not every one is making money out of them. Why is this so? It’s because business success is so dependent on the person doing the business. Do they have what it takes to succeed at that business?
For you to ascertain that you have to look at the person and look at their persona. It’s from that, that you can derive what business to do. It’s from that, that you can find a skill, passion or talent you can monetise and build a business out of.
It takes 4 factors to build a successful business and those are passion/interests, knowledge base, skill sets and resources.
What are your interests or passions because you’ll find a hard time trying to succeed at something you don’t like. What is your knowledge base because you’ll find it practically impossible to succeed at something you don’t understand.
What are your skill sets because at one point the situation will dictate you take on the wheel personally. When you ascertain all that then you can look at what resources you have at your disposal and ask how you can start with that and build slowly.
Is there something those around you say your good at? Is there something you do and even forget that time’s moving? Is there something you know that every one comes to you to learn more about?
Those are the things you have to start seeing how to monetise and build a business around. It could be art, it could be cooking, it could be organising functions, it could be singing, it could be your knowledge of cars, animals, fabrics name it.
So before you ask which business you can start, do a personal evaluation of your self. Do some self searching around those four areas.
The answer your looking for lies right there and no one knows you better than you know yourself, not even me and that’s the reason I can’t decide for you what business to do.
I could help guide you with the self search or even find ways to monetise what you feel you can do but I cant really decide for you what to do.
Jaluum Herberts Luwizza is an Entrepreneur,Speaker,Writer and Columnist with the Nile Post.He is also a Business Consultant with YOUNG TREP East Africa’s No.1 Business Management and Consultancy firm that helps people start and grow profitable businesses.