HOW TO CHOOSE A PERFECT BUSINESS IDEA

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To a large extent, the kind of business that you do will determine how far you will go in business.

Steps to take in determining the kind of business to start;

1.  Choose a business based on what you love doing.
2. Choose a business that will be convinient to do.
3. Choose a business on what you are already good at.
4. Consider your financial status when choosing a business. Ensure that you have enough capital to start the business.
5. Think of a product or service in demand but currently under-provided.
6. You can opt for a franchise as a business idea. For example, if you want to start an eatery business and your want quick customers, you may go and get a franchise from a company like Sweet Sensation that already has customers instead of starting an entirely new business.

You can decide to choose a business based on the industry.

Examples:
Businesses under the water and beverage business

1. Water treatment 
2. Sales: Sell to restaurants, markets, schools, offices, stadium, churches, hospitals, etc 
3. Event Management: Providing water and beverages at parties. 
4. Recycling of water and beverage bottles to be used for new water and beverage packages. 
5. Resale as reuse for zobo, kunu, etc sellers.
6. Usage as art and craft materials.
7. Designing, printing and graphics for water and beverage products.
8. Advertising on social media, television, radio, etc. 
9. Borehole digging company.
10. Packaging company. 
11. Transportation services
12. Marketing
13. Waste disposal business, etc

Anywhere a problem arises; it is a form of business idea.     

Businesses under clothes

1. Manufacturing of fabrics.
2. Sales of fabrics. 
3. Making of clothes; designing and sewing.
4. Importation of fabrics. 
5. Sales of readymade clothes. 
6. Laundry business.
7. Dry cleaning business.
8. Manufacturing of washing machines.
9. Sales of washing machines.
10. Manufacturing of Detergents and hand soap         
11. Sales of detergents and hand soap.                
12. Ironing business            
13. Manufacturing of cloth hangers.
14. Sale of hangers.
15. Manufacturing of irons
16. Sale of irons
17. Manufacturing of needles.
18. Manufacturing of buttons.
19. Manufacturing of sewing machines
20. Manufacturing or measuring tapes.
21. Manufacturing of sewing threads.
22. Manufacturing of measurement chalk.
23. Manufacturing of mannequins.      
24. Sale of sewing machine parts and repairs.
25. Sales of accessories such as buttons, sewing needles, machine needles, threads, measuring tapes, mannequins, etc.
26. Establishment of sewing schools.
27. Organisation of fashion shows.
28. Production and sale of starch.
29. Production and sale of laundry basket.
30. Printing business for clothes.
31. Printed polythene and paper bags for packaging.
32. Manufacturing and sale of pegs, etc.  

Businesses under media

1. Establishment of television station  
2. Establishment of radio station
3. Advertising 
4. Blogging
5. Establishment of journalism schools
6. Presentation classes
7. TV and Film production
8. Scriptwriting
9. Blogging
10. Establishment of newspaper houses 
11. Vocalists
12. Music Production
13. Presenters
14. Music Supervisor
15. Music Supervisor
16. Camera men
17. Colourist
18. Gaffer
19. Continuity manager
20. Executive producers, etc.  

You can put two or more options together. For example, at Drumline Entertainment, I put together about six options. This is because my kind of services cannot all be requested for at once.
At Drumline Entertainment, I am a musician (drummer, singer, songwriter, DJ), music publisher, scriptwriter, blogger, drum teacher, corporate drumming organizer and business consultant. I am very good at organization and accounting is the reason why I can decide to do these tasks all together and of course, one will come after the other as all these jobs do not come all at once.

In my next blog, I will write about the signs that you are in the right business.

Cheers!