Choosing a business to suit you

The Small Business Company

TSBC are the experts in small business - they help Government agencies, Banks, Accountants, Large businesses, & Industry associations deliver small business improvement tools to their own small business customers. www.TSBC.com

nullWhen you are looking to start or buy a business you will want to find one that suits your skills, experience and interests. Here are a few questions that will help you choose a business that's right for you.

Industry/ product knowledge.

  • How much do you know about the industry or the particular service/ product?
  • Will you have to spend extra time and money up-skilling yourself ?
  • Will you have to take on a partner, employ experts or use professional consultants because you don't know the product/ service well enough?
  • Are you passionate about the product/ service?
  • Is it a product or service you happily use yourself?

Hands on Experience.

  • Have you ever owned a business or worked in this industry before?
  • How important is hands on experience to the business? (consider credibility with customers and suppliers, plus the ability to provide the product/ service to the required level of quality)
  • Have you had the opportunity of learning from other people's mistakes in the industry?

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Your skills. How important will the following skills be to your proposed business? Realistically, do you have these skills?

  • Leadership
  • Communication
  • Delegation
  • Marketing
  • Manufacturing
  • Accounting
  • Administration
  • Planning
  • Technical

Ultimately you want to be in a business where you can really leverage off your skills, knowledge and experience. But remember, no matter how well you fit the business, it won't be successful unless there is a demand for what it provides.

 
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