Let's take a look at the important items that you need to be considering before you engage in your own business. Work through the list and feel free to add areas that may fit in identifying potential opportunities.
* What do you love to do?
* How do you spend your day?
* How does your spouse and children spend their day?
* Do they have specific issues that need a solution?
* What do you do for fun and recreation?
* What has been an obstacle for you in the past?
* What kind of work do you do?
* What have you been known to be really good at doing?
Take some time and answer those questions. This should give you a starting point to begin research on several different subjects and see what comes to you and feels most natural.
As you are researching them, identify potential solutions for each one. Does the marketplace spend money on products and services?
Are there competitors in the market already? Having competition is a good thing, it means that people are spending money and there is strong potential. Better to have competition than no competition at all.
Are you willing to work in the industries you have defined? You have to have a desire to make it work. Don't just jump in without first taking some time to seriously think about what you want to be doing a year or two from now. This is a big commitment.
You don't have to be an expert when you start your research, but you have to become one to gain credibility. This can happen very fast, if you are willing to invest the time into your self-education. You have to commit to doing it right, or it won't last. Are you willing to invest the time?
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