WHICH BUSINESS TO START WITH?

Many people approaches me and state this "I want to open a business, but I don't know what business and which business to open?"

I have used this method to assess which business is for me.

WHY YOU AND WHY DO?

First question to ask is why you want to do this business. There must be a compelling and strong reason you want to do it. For example, a strong reason is that your product or services can resolve major or irritating problems faced by people, you need more money, you need to get away from your current work, boss, you need to prove that you are somebody , etc. There must be a compelling reason to do it. Once you get it, then you can move to the next step.

SKETCH YOUR IDEAS INTO BUSINESS MODEL

Find one business that you think you want to do it and start sketch them into this Business Model Canvas. This tool will help you to rapidly sketch out your business ideas into business model. If you can outline inside and out business operations and revenues of that business, then you know you can do it. Otherwise, if you are struggling with the information you need for your business, either you go and learn about it out there or let it lingers for 3 months and add the information as you go along then start building your business, otherwise scrap it and find a new one.

Business Model Generation Canvas

IF YOU STILL CAN'T THINK WHICH BUSINESS...

Find any product or services that you are currently used and start asking around how to become their agent or their stockist? Sell other people's products and services before venturing your own. In business, you need to be a salesman. Because in business, 80% to 90% of your activities are around making your products and services to be known to others. A business is not a good business if nobody knows your products or services. Hence why, if you want to know you are really good in business, try MLM, the safest and minimum risk business. If you cannot sell one product through MLM, at least you eat, drink, consume their product yourself. 

Once you find it, do it until you get RM1 million. find and learn ways to do it. Then you can start the next venture for diversification of income, such as property investment, gold investment, another business ventures.

GOOD LUCK....