If you are like most people you have fantasized about owning your own business. It is an easy thing to fantasize about. Being an entrepreneur has many benefits. It’s an exciting challenge. It offers professional freedom and the potential for great income. Plus, it’s a really great way to finally learn how to spell the word entrepreneur. (The e always comes first.) But for most people, the hardest part is actually knowing what kind of business to start.
Here is a simple suggestion from a mid-career entrepreneur.
Think of products or services that you wish existed. Then create a business that delivers them.
Your business doesn’t have to be massive. It doesn’t have to change the world, go public or someday sell for a billion dollars. If those are your criteria you will likely never start anything. Instead, simply offer products or services that you would like to have for yourself.
I started a t-shirt business several years ago called Adam & Sleeve because I had humorous t-shirt design ideas that I wanted for myself. But when other people saw the designs, they wanted the t-shirts too. So I made enough shirts to sell to other people, which meant that I could get the shirt I wanted for free.
In 2015 I was ready for a job change. So I started talking to a number of advertising agencies about potentially joining their team. But I didn’t find the right combination of culture, clients, and opportunity. So I decided to create what I was looking for. And clients liked the idea too. After months of taking on night and weekend projects, the demand kept swelling. (Like my face after a bee sting.) So I officially launched The Weaponry, an advertising and ideas agency in April of 2016.
My friend Dan Richards started his business, Global Rescue, a worldwide field rescue service, after hoping that the business already existed. When he discovered that it didn’t, he decided it needed to, so he created it himself.
Today, I think about businesses that I wish existed all the time. In fact, my son Johann and I are in the process of launching a used piano business. But I also wish we had a local shoeshine that also cleaned sneakers. And I want a Flip Flop Ambulance that I can call when I’ve blown out a flip flop, or stepped on a pop-top. And maybe a business that came to clean out the bottom of your grill for you. (I would call that Grillax.)
Keep your antennae tuned to those things you wished existed. Businesses exist to fill a need. And if you have found a need that isn’t being met, you have found a space for a new business opportunity.
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+For more of the best life lessons I have learned check out my new book, What Does Your Fortune Cookie Say? from Ripples Media.