4 Thought Provoking Tips on How to Pick the Right Business Idea for You

It was easy to say yes to a project or client in the early days.

Especially if it's your first. You get all hot and bothered, excited that someone wants to hire you, and later find out that the client sucks. Maybe it's scope creep, or it's simply because they're god-awful humans.

The bottom line is it's essential to pick the right clients, and not just because they open a checkbook.

If you want to ensure you are on the right track to becoming a successful and happy entrepreneur, you need to pick a profitable business idea that aligns the best with you. If you don't understand or care about the type of work coming your way, or the concept you are trying to pursue, you will more likely create stuff that doesn't provide value or is frankly uninspiring.

It's a rut I found myself trying to get out of in my early days.

It's a rut I seriously want you to avoid so you can be the best version of yourself.

The following are four essential tips to keep in mind when picking the right business idea for you.

Recognize the life you really want to live

In other words, if it takes a twenty-four-seven commitment and the life is not what you can envision doing for the rest of your life, then you might want to reevaluate the business idea.

Whether you're a first-time freelance, a ghostwriter, or jumping headfirst into a brand new startup.

Choose the right idea.

Choose the right clients.

Choose the right products and services you'll create.

But choose them to fit into the life and lifestyle you want to build.

There is nothing more soul-sucking than starting the work only to realize it's not what you genuinely want to do or create.

So take the time to break down the work you want to do for the rest of your life to ensure the business idea you pick matches.

Focus on your skills and experiences

What skills and information do you correctly possess that can be shared and be valuable to others.

This is one of the simplest things that first-timers overcomplicate.

Remember, you don't need perfection or expertise to share, so don't let that slow you down if you have some knowledge and a strong passion. The more you understand and enjoy the business you create, the more successful you will likely be.

Tap into what you already know and love.

I'll bet others would gladly pay for the knowledge you take for granted.

Test before making a commitment

Believe it or not, commitment to an idea is not required to get started.

It does not make you a failure just because you decide something isn't right for you. In fact, most entrepreneurs go through many different ideas before one finally makes sense to them. You'll probably start and pivot or even scrap an idea or concept more than once.

The world of entrepreneurship has so many different opportunities that it would be impossible to know what will work without trying first.

However, you can't focus on what you get in return when trying this method. You must only focus on the work and what is required of you. This is only to determine if you enjoy the work and can handle it in the long run. You can't let revenue be the ultimate factor.

While you want a profitable business idea, that doesn't mean you should reach for the one that makes the most money, especially if you don't enjoy it.

Visualize the final outcome

Visualization is a powerful tool that can help determine obstacles, challenges, or things that may get in your way of success.

In the same way a race car driver closes her eyes and "drives" the track. Or in the same way a professional speaker imagines a perfect speech and a standing "O" before hitting the stage. You, too, must imagine what the final outcome will be.

As you come up with ideas, imagine your target audience, what products you will create, and the overall lifestyle you can live to accomplish it.

The final word

The four essential tips to keep in mind when picking the right business idea for you are: 1) Recognize the life you want to live, 2) Choose the right ideas and products, 3) Focus on your skills and experiences, 4) Tap into what you already know and love.

Starting with the wrong business idea does not mean you will not be a successful entrepreneur one day. However, it can make it hard to find the motivation and resources to continue down this path.

Starting with a business idea you genuinely want to pursue and ignoring the many "get rich quick" business schemes is the only way to be sure you do what is required to succeed.

A successful business takes consistent and daily work to see rewards.

Thanks for reading. You can get more actionable ideas in my wickedly famous weekly report. Each week, I share 3 executable ideas and "food for thought,"…all designed to propel you forward.

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