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How To Decide Which Business To Go Into - Business - Nairaland

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How To Decide Which Business To Go Into by Goodcare(m): 4:33pm On Jan 08, 2013
A lot of people have difficulty deciding which businesses to go into. A common rule of thumb is to scan the environment, see which business seems to be flourishing and pitch your tent there. Many have gotten their fingers burnt this way. They enter a terrain they are not equipped to navigate, often at the wrong time and end up tying down their capital without an exit strategy. More often than not, the push to start a business arises from the need to make ends meet in the short term. There is an expectation of quick returns, setting the stage for falling for get rich quick schemes, shoddy preparation, undue expectations and ultimately failure.

Your mindset determines how far you go and how well you do in business. You have to understand that people will only part with money if you solve their problems or add value by providing goods and services. For you to be able to do that, you have to be equipped to deliver at that level. The starting point is where your passion, skills and core competencies lie.

You have to get it very clear upfront that a business is a platform to make a unique contribution to society, through provision of goods and services. Your business must meet a need. Your business must make a difference.

The starting point is finding out who you are and what you have to give. If you try to be somebody else, you will end up frustrated.

Until you answer the question “who are you?”, do not bother to take any step further.

In terms of aptitudes, talents, skills and core competencies, human beings can be broadly categorized into five types

Foot Type
Hand Type
Mouth Type
Heart Type
Nose Type
Head Type
These broad categorizations are based mostly on talents and aptitudes, not behavioral. And like in temperaments and other behavior type classifications, we do not belong solely to one group. We have predominant traits, and still share characteristics with other types.




Knowing where you fall in will go a long way in knowing what your talents are, what you love doing, what you have passion for and ultimately, what business you can go into.

I will be taking the different types in the next post. Stay in your strength zone, and be the best you can be. This is the place where your effort will yield the greatest dividends.

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