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You see a lot of blog posts this time of year with titles like:
“The best businesses to start for 2016” or “What’s Hot in Biz for 2016!”
But are those the kinds of businesses you should be considering if you want to start a business this year?
What IS a good business to start in 2016, or any year for that matter (especially in a flat economy?) I made this video last year and it’s still as relevant as ever.
The easy answer to that question is:
The best business to start in 2015 is the one that’s right for you
Did that sound glib?
I don’t mean to be.
But a business is essentially you solving a problem for someone else in exchange for money — and that is never going to change.
People need help with their problems year in and year out.
With an online business, you’re essentially dealing with a niche.
You’re choosing one specific set of problems, and one particular type of person who needs that problem solved.
And unless you are thinking of solving a problem that is really hot right now – say teaching business owners how to do video, or helping mums feed their families Paleo, what’s “hot” right now is largely irrelevant.
Trendy problems and businesses have a downside — they’re trendy!
You can ride the wave for only so long before that particular trend goes the way of MySpace and 80’s hair.
That’s not to say you SHOULDN’T ever start a business based on what’s hot right now.
It means you need to be ready and willing to pivot your strategy if and when the trend starts to die off.
A better strategy might be to look at the underlying problem you’re solving that will never go away and build your business around that.
The business you start has to appeal to YOU
But most important of all, the business you start has to appeal to YOU:
Your interests, your goals, and your lifestyle.
Look at the problems you’re good at solving for people:
The problems you’re passionate about solving and the ones people will pay to have someone help you solve — the intersection of those three elements is your golden business opportunity.
So, to recap:
1. A business is just you solving a problem for someone else, and that’s timeless.
2. If your business is built around something that’s hot or trendy right now, be sure you understand the underlying problem you’re solving, and be ready to change course if the trend starts to die.
3. The best business idea for you will be the one that is something you’re good at, passionate about, and that people will pay to have you help them solve. It’s that simple.
What problems does your business or business idea solve?
Let us know in the comments below this video, because sometimes going back to the basic building blocks of our business can give us new perspective on where we should go next.
If you’d like more help finding a business idea that’s right for you check out this free training: