How do you find the right business?

If you do not know what you want to do, the easiest way to narrow the choices is to determine what you do not want to do. Do you want to go into business for yourself, buy a business, or work from home?

Once you determine what you do not want to do, choose what interests you and what you are good at.  From there, decide if you have any contacts in that field. Would they be willing to buy your products or your service?
It is easier to sell to someone you know than to a stranger.

Many people do not know what to do when they want a career change; sometimes, you can look for years before you develop something that interests you. Taking a professional career counsellor’s advice from can help you through the process of finding a new career path.

My wife was bored of her job and wanted a change but did not know what she wanted. Her father sold his house, and the real estate agent brought in a home stager to prepare the house. My wife had never heard of this profession before, and she talked to the person staging the house and then decided that was the business for her. That was three years ago, but she took three years to find something interesting. She looked at many different opportunities; many were exciting
but not attractive enough to be in that field daily. She was lucky; a new idea stumbled into her lap when she was not looking.

I knew three real estate agents who were asked to raise money for a new medical venture. When they finally grew the money, a third party acquired the company that hired them. The acquired company was no longer allowed to go into the new business venture because it was a conflict of business with their parent company. The three real estate agents had a hard decision; they raised millions of dollars for a third party who no longer wanted to be in that business and no one to own the new business venture. The three real estate agents then decided to go into the medical business. They had not planned to be in that business, but it fell into their lap.

You will be surprised to know that many businesses evolved from unexpected incidents. To find that perfect business when you do not see what you are looking for is like looking for a needle in a haystack. Suppose you think logically and rule out all the areas you do not want. In that case, you may be able to determine what is left that may be of interest or do what my wife did. She looked for three years to find something by accident, but when she saw what she liked she actively pursued something she was interested in.

You should also go to websites with businesses for sale, look at newspapers, and do a lot of reading to see if you can develop an exciting business idea. Be careful of the timing of your new venture.
Once you select your new business, determine if it is an excellent time to open it up now or if you wait until you see the economy stabilize and then open it in 6 to 9 months. The answer to this question will depend on how risk-averse you are to starting a new business.