Which business shall I start? – Part 1
February 28th, 2010 | 
Author: once you’ve made up your mind to start up a business. Now you’re asking yourself, “What type of business should I start?”
first,you must know that there’s a world of possibilities out there for anyone who wants to start a business. How can you possibly winnow them down to find the type of business that’s right for you? The approach outlined in this article will help. Once you’ve worked your way through these three decisions stated below, you will have a much better idea of exactly what type of business you want to start.
1)Retail or wholesale type of business
these type of business needs you to know where you want to be positioned on the supply chain? Retail businesses sell goods directly to consumers, usually in small quantities. Wholesalers buy goods (often in large quantities) from manufacturers or importers and then sell them to retailers and other distributors.
2)Franchise or independent type of business
in these type of business,many established companies do offer franchises, which are basically copies of their companies.
3)Product or service type of business
these type of business may be beneficial to you If you are a trained professional, such as a doctor, accountant or realtor, your business is going to revolve around the professional services you can provide. But there are many professionals that also have the opportunity to offer related products just like you do, if they choose to do so. If you’re a baker, for example, you may decide to bake and sell biscuits, cakes, and other unique products your competitors don’t produce.
If you’re not a trained professional, the key to deciding whether to focus on products or services when you’re thinking about starting a business is determining where your true talents lie and what you most enjoy doing. Would you be happiest telling someone how to do something, doing something for them or offering them the products they would need to do the job themselves?
DO NOT base this decision on whether or not you enjoy selling or are good at it. No matter what type of business you start, you will be involved in sales.
Now you’ve made three decisions about the type of business that you actually want to start,at this point, you may now consider the best place/environment to have your business situated and also the financial power within your disposal to kick start the business.
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