A STEP BY STEP GUIDE

CHOOSING THE RIGHT BUSINESS FOR YOU

Business Formation
July 20, 2023•3 min read

“All our dreams can come true; if we have the courage to pursue them.” – Walt Disney

Introduction:

Selecting the right business is similar to choosing a career path—it can significantly impact your life and overall happiness. Just like careers, people often venture into different businesses throughout their lives, adapting to changing interests and opportunities. Therefore, it's essential to approach this decision with an open mind and willingness to reevaluate in the future.

8 Reasons

Here are the steps to help you choose the right business for you:

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    1. Reflect on Yourself: Begin by understanding who you are and what makes you happy. Consider your personality traits, values, skills, and interests. For instance, if you're an introvert, you may prefer a business that doesn't require constant interaction with large crowds. Be honest with yourself during this process and remember that it's okay not to match yourself to a business immediately.

    2. Identify Big Life Goals: Think about your significant life goals beyond just career ambitions. Determine how your business can align with these goals. For example, if your goal is extensive travel, consider businesses related to tourism or international trade.

    3. Draw from Past Experiences: Look back at your previous job or school experiences to identify moments of success and happiness. These experiences can offer valuable insights into the type of business you might enjoy going forward.

    4. Explore Business Options: Start researching and exploring different business options. Seek guidance from school counselors, career centers (if you're in college), or conduct your own research online. The more specialized your search, the better information you'll find.

    5. Match Interests and Skills to Businesses: Link your interests and skills to specific business ideas. If you're unsure, consider taking career tests or self-assessments available online to gain further clarity.

    6. Assess Life Priorities and Values: Reflect on your life priorities and values and ensure they align with the potential businesses you're considering. If work-life balance is vital to you, certain businesses might not be the best fit, no matter how well they match your skills and personality.

    7. Research Industry Growth and Pay: While passion is crucial, financial considerations are essential too. Research fast-growing industries and the earning potential in different businesses to make an informed decision.

    8. Network and Conduct Informational Interviews: Talk to people already in the businesses you're interested in. Networking and informational interviews provide valuable insights into the day-to-day realities of a business. Don't hesitate to seek help from family and friends to connect with professionals.

Final Thoughts:

Choosing the right business is a significant decision, just like selecting a career. Take your time to explore your options, gain experience through internships or part-time work, and remain open to change. Remember that each step you take will contribute to your growth and understanding, even if you decide to pivot later on. Stay adaptable and receptive to new opportunities throughout your entrepreneurial journey.

Other resources to help you get started with business

Start your business with your "WHY" checklist:

Here is a quick checklist to get you started with "WHY" you want to grow that dream business. Remember imperfect action beats inaction, get started and keep thriving.

  • What inspired you to explore this product/service?

  • What specific challenges are you facing in your current situation?

  • How would solving these challenges impact you personally and professionally? If you are stuck you can use start at this link - https://redeemservicesllc.com/

  • What goals or aspirations do you have for your business/personal life?

  • Have you tried any other solutions in the past?

  • What aspects of our product/service appeal to you the most?

  • Can you describe your ideal outcome after using our product/service?

  • How do you imagine our product/service will improve your daily life or workflow?

  • What do you value most in a business relationship?

  • How important is it for you to feel supported throughout your business setup process?

Here are additional resources to help you make money and realize your business dream without breaking the bank.

FREEBIE: 11 HighLY Effective Ways To Make Money Online.

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I am Marlary, your finance & business consultant. I provide consulting services to pre-venture and start-up businesses as well as teaching them through business planning courses. I also am a member of the International Institute of Business Analysis (IIBA), and a business professional with over a decade experience in banking and finance. As a first generation African Immigrant mom, I have earned a reliable reputation providing real-time results for small business owners to thrive and build wealth. I am on a MISSION to Serve!

Marlary Business Consultant

I am Marlary, your finance & business consultant. I provide consulting services to pre-venture and start-up businesses as well as teaching them through business planning courses. I also am a member of the International Institute of Business Analysis (IIBA), and a business professional with over a decade experience in banking and finance. As a first generation African Immigrant mom, I have earned a reliable reputation providing real-time results for small business owners to thrive and build wealth. I am on a MISSION to Serve!

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