5 Steps to find the right Business for you

starting a business Dec 10, 2024
Charlotte Steel - Find the right business

👋Welcome all Entrepreneurs to 'The Thriving Start-Up'

This weekly newsletter is here to guide you to Start, Grow & Thrive as you turn your business dreams into reality.


I’ve been there (and sometimes still am), you’ve got so many ideas but don’t know which business idea to start first. 

If you have a varied skill set and different passions, it can be hard to hone into which path needs you attention. 

With path you should choose to turn into a business.

I’m going to share 5 steps you can take to help you decide which business is right for you. 

 

But first, you’ve guessed it, it’s limerick time…

 

❝There once was a spark in your mind,

A business you wished to unwind.

With passion and skill,

And market to fill,

The perfect idea you’ll find!❞

 


Why Finding the Right Business Matters

Your business isn't just a way to make money—it's a commitment of time, energy and fulfilment. The right business for you has three essential qualities:

  1. Passion-Driven: You need to enjoy what you do because building a business takes persistence. Without passion, motivation can fade.
  2. Skill-Aligned: Leveraging your existing strengths and skills gives you a competitive advantage and boosts your confidence.
  3. Market Demand: Even if you're passionate and skilled, your business needs customers who want what you’re product or service. .

Ignoring any one of these elements can lead to challenges. 

Aligning all three sets you up for sustainable success.

 


5 Actionable Steps

 

1. Identify Your Interests and Passions

Start with what excites you. 

Building a business is a long journey, and passion fuels the motivation to keep going when things get tough.

  • Action: Write down 5-10 activities or industries that spark your interest. 

Ask yourself:

  • What could I talk about or do for hours?
  • What challenges or problems do I care about solving?

 

2. Assess Your Skills and Strengths

What are you good at? 

A successful business builds on your strengths, not just your interests. 

Recognising your skills helps you choose a business where you can excel.

  • Action: List your top skills. Include both hard skills (e.g. graphic design, coding) and soft skills (e.g. communication, leadership).
  • Action: Ask friends, colleagues, or mentors for feedback on what they think your strengths are.

 

3. Identify Market Opportunities

Passion and skills matter, but without market demand, your business won’t thrive.

Look for gaps in the market or underserved needs that align with your interests and skills.

  • Action: Research trends and market demands.

 

4. Validate Your Business Idea

Before diving in, test your idea on a small scale. 

This helps you avoid wasting time on something that potentially won't work.

  • Action: Create a Minimum Viable Product (MVP) or a simplified version of your service.
  • Action: Get feedback from potential customers through surveys, interviews or pre-sales.
  • Action: Join networking events or online communities to discuss your idea and gather insights.

 

5. Align Your Business with Your Goals

Ensure the business you choose supports your lifestyle, income, and personal growth goals. Some businesses demand 24/7 attention where others offer flexibility.

  • Action: Define your short-term and long-term goals:
  • Action: Check if your business idea fits these goals. If not, refine your approach.

Finding the right business means aligning your passions, skills, and market opportunities. Follow these five steps to gain clarity and confidence before you commit. Don’t rush the process—invest the time now to save frustration later.

If you need help with this, drop me a message on LinkedIn for a chat. 

 


👋How I can help you

  • Join the Waiting List for my new course where I will show you how to turn your idea into a dream Business in 30 Days
  • If you’re ready to take your business dream seriously, I would love to work with you 1:1. I offer a 30 day programme to support you to Start, Grow & Thrive in business. Book a free discovery call and let’s talk about your business - HERE

Coming Soon

‘The Thriving Start-Up Podcast’ - Guest applications are open - Apply here

 

 

Behind The Thriving Start-Up

If you're dreaming of starting your own business while balancing a full-time job, know that you're not alone—and it is achievable. I'm passionate about helping other entrepreneurs bring their visions to life (and yes, I know everyone says that, but I truly mean it!). With focus, discipline, and a strong belief in your abilities, you, too, can turn your business vision into reality - and that’s the mission behind The Thriving Start-Up.

START, GROW & THRIVE💚

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