More steps on choosing the better business ideas.
Step 3: Next eliminate the business ideas that will require your full time attention. Ideally we are hoping that you already have full time employment and this new business is going to start up in the background.
A good example would be a software program that is sold online. The website will do the selling and support can be done via email after hours or whenever convenient to you – within reason. A poorer example would be consulting of sorts to large corporations as these companies will typically require you to support them during working hours and be on call whenever they need you.
Step 4: If you still have more than one idea left or none that fit any of the above good examples, than one more means of elimination is to choose ideas that involve non physical items and where no staff need to be employed. A good example would be a service where you design neon signs for shops. The poor version of this is where you actually make and install the signs.
If after all this you have more than one good idea, simply choose any one of them. Similarly if you have none that fell into the good example category than try and choose the one that fitted the best or start the process over again and come up with some more ideas.
One of the many advantages of this sideline plan is that your chosen business idea does not have to be your chosen career path or you life long dream that you will now be doing for the rest of your life. Instead it is for you to test the business waters. If it works then build on it and create your business empire. If it fails then move on to another idea without the normal severe financial consequences.
Next we are going to take your business idea and tweak it to fit our plan.