Choosing the right business type

Trying to make a living online it is so hard to choose what to do! There are so many ways to go, and it is totally ok to feel lost and frustrated. Where to even start? What kind of business there even are?

All of you have heard “wise” phrases like this:

  • Find the need / demand and fill it
  • Find the problem / pain and solve it
  • Or even “Find where the money flow is and just stand there

They may be wise, but they don’t tell you anything concrete! In this article you will learn the four basic types of business you can do online and how to choose the right one for yourself.

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Working online vs having an online business

I want to tell you what you will not find here, and anywhere in my blog. You will not find how to work online. I am not considering working online. Not anymore.

I have worked online for many years and this is not what I’m looking for now. I’m going to talk about creating a business online.

You may wonder, what is the difference?
There is indeed a difference, and it’s so important!

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What am I bad at?

Have you ever thought why people start businesses and then suddenly stop? Sometimes it’s just because they’ve bitten more than they can chew! If you don’t like to sing, why starting a singing career? If you hate to get up early, why starting a morning business? If you can’t speak in public, why start a school? This sounds simple, but so many fall into this trap!

I’ve analyzed my strong sides, now it’s time to compile a list of weaknesses. Do you want to do this another little exercise with me? Take a piece of paper and write them down.

Don’t worry, you don’t have to share them with everyone like I do!

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What am I good at?

You will never build a house without having a list of materials you have. Even having the blueprints will not help if you don’t even know what assets are at your disposal.

Before starting a business, at the beginning of his path, every entrepreneur needs to analyze what he is, what he has, what he is capable of. The strengths. The assets.

Let’s play this another little game: “Write down all your strengths. Something you love to do, something you are good at, something giving you an advantage

If you’re good in something, composing such a list may sound like bragging to you. That is perfectly normal to be good in something, and it may be a great asset to use in your future business. Write down everything. And don’t worry, the list of weakness follows in the next post 🙂

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My goals

Before starting anything, every wannabe entrepreneur has to figure out what is it he wants to achieve. This goals have to be set in stone, and every single decision you make you should cross check with this goals. So, I suggest we play this little game called…

Where do I see myself in 5 years?

Don’t just answer this question, but write it down. When you get back to it in 5 years and see if time matched your expectations, you’ll learn a lot about yourself. So, here are my answers…

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