answer the question, “What kind of entrepreneur are you?” She’ll share with you how and where other successful entrepreneurs get their ideas and give you examples of businesses you can start right now. She’ll also give you some valuable statistical data and source information, as well as provide tips for getting started on the road to success.
Whatever path you choose—whether your business idea comes from a hobby, research, work experience or an “Aha!” moment—I wish you the best of luck. May your journey be as rich and rewarding as mine has been.
About Rhonda Abrams
A syndicated columnist, best-selling author, and popular public speaker, Rhonda Abrams has spent more than 15 years advising, mentoring and consulting entrepreneurs and small business owners. Her knowledge of the small business market and her passion for entrepreneurship have made her one of the nation’s most recognized advocates for small business.
Rhonda’s weekly newspaper column, “Successful Business Strategies,” is the nation’s most widely-read column about entrepreneurship, reaching more than 20 million readers through 130 newspapers, USATODAY.com, Inc.com, and Costco Connection magazine.
Rhonda’s first book, The Successful Business Plan: Secrets & Strategies, was acclaimed by Forbes magazine as one of the two best books for small business and by Inc. magazine as one of the six best books for start-ups. Now in its fourth edition, it is used as the primary text for business plan classes by more than 100 business schools.
In her second book, Wear Clean Underwear: Business Wisdom from Mom, Rhonda illuminates how incorporating strong values into running a business can also benefit the bottom line. She examines the business practices of several outstanding companies, including Southwest Airlines, Kinko’s, and 3M. Wear Clean Underwear was a selection of the Book-of-the-Month Club. It has been translated into Japanese, Dutch, and Korean.
Rhonda’s latest book, published in association with What Business Should I Start? is Six-Week Start-Up: A step-by-step program for starting your business, making money, and achieving your goals. The book takes readers step-by-step through the process of bringing their business idea to life—handling everything from choosing a business name to finding a location, to hiring and managing employees—all in a period of just six weeks.
An experienced entrepreneur, Rhonda has started three successful companies, including a small business planning consulting firm. Her experience gives her a strong real-life understanding of the challenges facing entrepreneurs. Currently, she is the founder and CEO of The Planning Shop, a company focused on providing entrepreneurs with high quality information and tools for developing successful businesses.
Rhonda was educated at Harvard University and UCLA. She lives in Palo Alto, California.
Introduction
YOU CAN DO IT There’s a business that’s right for you
“Someday I’d like to have my own business.”
If you’ve said those words, you’re not alone. Millions of people share that dream. This book will help you succeed.
“I just don’t know what kind of business to start.”
Many would-be entrepreneurs get stuck when they have to choose which type of business to start. This book will get you going.
Over the years, you may have had hundreds of ideas for businesses—or perhaps you’ve had very few. Either way, chances are you need help deciding which idea is the right one for you.
Sure, you know there are plenty of possible businesses you could start. After all, family and friends keep suggesting ideas to you: your sister says you should sell real estate, your exercise partner wants you to open a gym, and your neighbor swears you can make a fortune selling herbal supplements.
But, now that you’re actually going to put your toe in the entrepreneurial waters, you’re stymied. How do you pick the right one? How do you evaluate whether it’s a good idea or just so-so? How do you know if it will make money?
Some people think it’s just a matter of trusting their gut instinct. But that’s not always the best way to judge. After all, you’ve got a lot at stake. Choosing which business to start is a big decision—a much bigger decision than accepting a job. If you take the wrong job, you can always quit and look for another. But starting a business is a huge commitment—it takes a lot of time, money, and determination, so you want to get it just right. But what, exactly, makes a business idea just right?
The origin of this book is simple: over the years, as a result of my newspaper column, books, and speaking engagements, hundreds of people have asked me what business they should start. Of course, there was no easy answer. Finding the right business depends on the individual—their background, interests, personality, financial situation, experience, and more. What was even more frustrating was that I didn’t know of any good resources I could point them to to help them answer their question.
Sure, if you scan the shelves of bookstores or the piles of information at counseling centers, you’ll find loads of information on the topic of choosing the right career—finding the right job. But if your goal is to start a business, you’ll find virtually no books on the subject.
The few books you might find with new business ideas are just that—mere listings of ideas. None of those books include any help in determining whether a business will be right for you, even if any of those businesses could be successful. (I came across a software program with new business ideas that suggested I’d make a good bungee-jumping instructor. I don’t think so!)
So I decided to create a book that would answer the question people kept asking me—“What business should I start?” And I wanted it to be a guide that would finally give would-be entrepreneurs honest, insightful assistance in choosing a successful business—the right business for them.
I wanted the book to be based on solid information—real data of what business ideas are successful for self-employment in the real world. And I wanted to give readers—you—a framework for making decisions.That’s why we’ve developed and included self-assessment tools to help you better understand your own skills, style, interests, goals, financial needs, and more. You’ll have a chance to explore the various facets of your personality and background. This isn’t just about throwing a bunch of ideas against a wall to see which ones stick, but to really examine and evaluate the right business for you.
So, if you’ve been struggling to find a business to start, you’re in luck. This book will give you more than ideas; it will give you focus. It will help you identify the right business to start—I guarantee it!
The Seven Step Process
Many business experts will tell you it takes a particular type of person to be successful, but I know—and you know—that’s just not true. One of the first things I did when I started working on this book was to recognize that all entrepreneurs are not alike. The fact that you may be shy, or averse to risks, or that you hate making sales doesn’t mean you can’t be an entrepreneur—and a successful entrepreneur
