Which business?

[ghost416]

Hi guys, I was wondering your thought processes were on starting a business? How did you guys come to select the business that you wanted to get into/currently are in? Was there any particular criteria that you used or was it due to having experience in that field? I personally was thinking of doing something in real estate, but now I am not so sure due to the costs and slow nature of it all. I am thinking that I would now want to do something where asset turnover is fairly high and where there is a fair amount of value added.

[george benjamin]

This is going to sound really weird but:

Become an internet addict and spend 10 hours a day surfing. Believe me, eventually you will come up with an idea, either online or offline.

[Just Confused]

Both of my businesses came out of everyday dealings for things I was doing anyway. I looked at them and it just hit me that I could do a better job of it than the organization from which I was purchasing. Of course, some follow-up research and seeking out advice of others helped a lot to refine the business plan before I launched.

IMHO, there certainly isn't a formula for ideas. Once you get something going though, it just becomes a case of overcoming each hurdle one at a time.