Choosing the business you start can either be very hard – or very easy. If you have been trained in a particular area, then you may naturally fall into this area as the business you start.
This can be good and bad. Obviously, if there are already a lot of competitors in your industry you will find it difficult and will always be under pressure to make a decent living. On the other hand, at least you should know you trade or skill reasonably well and can then concentrate on building the business.
Before choosing your business – think about this. What type of income is better?
Passive income or non-passive income?
The best business you can start is a business that requires low skilled workers. There are several reasons for this.
You will quickly learn that a successful business is about people. This is the one major factor in creating a successful business and by starting a business that employs low skilled workers – you will always have a large pool of potential employees to choose from.
This is a very significant point. If you start a business that employs highly qualified people such as Architects or Engineers, you will always be struggling to find qualified team members and they will always want to be paid more !
So if you haven’t chosen your business yet – think carefully about this as it will make a huge difference down the track.
Take a look at the McDonalds business model. They employ thousands of part time students and young workers.
They ensure their systems are perfect and that their team members follow instructions easily.
This is the first thing you should consider when choosing a business. If you have already chosen a business that employs highly qualified workers – don’t worry as there are ways to maximise them within your business – just remember it will be considerably harder and your business weekly salary payment will be high!