Whenever I speak to groups of individuals who'd like to start their own businesses, they typically express interest in exciting or glamorous choices. They're likely to want to open a gourmet restaurant or bed-and-breakfast, create cutting-edge consumer electronics, become a wedding planner or a golf pro. After all, who wouldn't like to become rich doing something fun?
But they often overlook the types of businesses where it's a lot easier to make money. Often, the most mundane, seemingly least exciting industries provide the best opportunity for financial success. Or, if you want to be in an appealing industry, it's still the less exciting, "back-room" business functions supporting those industries that make the big money.
Of course, the choice of what business you start depends on a lot more than just how much money you can make. You have to find a business that suits your education, experience, talents and interests.
And I'm certainly not advising you to consider only potential profits when deciding on your future. After all, you want to enjoy going to work, feel a sense of passion about your product and feel challenged and engaged. Even if you could make a lot of money selling polluting industrial products, you might feel a whole lot better about your contribution to the world by helping to develop "green" energy.
Just don't sell yourself short. You'd be surprised at how some of the most uninteresting products or procedures can become engaging once you're building your own business. After all, an acquaintance told me he was continually fascinated by his business and made a lot of money as well. What business was he in? He distributed urinal deodorants.
Photo by MSDesign.