Is There Such a Thing as Best Startups for Entrepreneurs?
Some websites and magazines love to put out lists of "best startups for entrepreneurs." However, there is so much that goes into making a business successful that it is a disservice to suggest that everyone do the same 10 or 20 things. Here are some of the things that should actually be considered to help you decide whether a company will really work out for you:
The first thing to do when considering a business idea is think about the market conditions in the area where you would be operating. A list of "best startups for entrepreneurs" may suggest something like opening a landscape service, but if there are already 20 of them in your operating range, it will not be a good idea for you to add another. This is because the local market would already be saturated. On the other hand, if the only other competitor in a 10-mile radius is a 12-year-old with a beat-up push mower, it'll be worth it to come in with a truck, trailer, and professional equipment. The same principle applies to any business category.
Next, think about how much and what kind of work you want to do. If your idea of a good day's work is climbing up on houses under construction, don't open a business where the only thing you do all day is sit at a computer. Conversely, if you've been happy working at a desk all day, you (and your body) will likely be miserable if you suddenly have to do a lot of physical labor all the time. Remember that being an entrepreneur isn't just about the money! You must also be eager enough about the work to put your all into it. It takes far more energy to drive a business than it does to simply work for someone else.
Finally, don't be shy to seek personalized advice for entrepreneurs. Consultants can greatly reduce the learning curve and save you from slogging through things that don't really interest you. What those things are depends on your interests, but since an entrepreneur is responsible for every aspect of his or her company, there are sure to be some that you will want to offload.
Entrepreneurs startups also need to have expert-level execution of segments that often are not in the core competencies of their owners. Accounting is typically one of these areas. Therefore, much advice for entrepreneurs revolves around bookkeeping, taxation, and related issues. However, you can get advice for any aspect of your company if you choose the right consultants.