The Best Business to Start For a Beginner|2011 Business Ideas

by J.Crawford on January 28, 2011

So you want to start a business and your looking for the best business to start for a beginner in 2011. I’ll say right off that beingBusiness Ideas impulsive when contemplating the best business start-up will likely be a recipe for disaster and here’s why. As a beginner you don’t have a clue what your business idea will look like in reality and there are ALWAYS unintended results, complications,problems and opportunities that will emerge with any new business start-up. And depending on the business you choose to start, along with how you start it, will either leave you in a rough spot or space where you can capitalize on the best options along the way.

5 Factors for Picking the Best Business to Start

Starting a business is not an event (with few exceptions) and most beginning entrepreneurs tend to look at it that way. Granted most entrepreneurs spend way too much time in the business planning phase, but they are still planning for an event rather than and ongoing reality. Last year I wrote a post on some of the key factors to look for when starting a business for the first time, they included:

  1. Startup Costs.
  2. Resource requirements in terms of time and money.
  3. The upside.
  4. Is the business an area of passion.
  5. The downside.

Far and away the most important factor in choosing the best business to start as a beginner is the downside of the business idea. Yes! What could you stand to loose should the business fail?  The downside is what will have the most impact on you as an entrepreneur and it will be the determining factor in whether you life to fight another day.  Listen if your just starting out on your entrepreneurial journey you need a couple wins under your belt, this alone is very powerful in creating a successful entrepreneur. Sure we learn more from our mistakes and our losses, but you need to be able to shoulder those losses and if your putting all your eggs in one basket and it gets crushed, what do you do now?

Remember the most important factor in picking the best business to start is the downside of that business. Start up costs and resource requirementsare probably a close second and they are obviously connected to the downside as well.  Knowing what the costs  (both fixed and variable) is another important step in the beginners start up journey.  Optimism is not an asset when your fleshing out the practical realities of your new start up as a beginner, though optimism is powerful, it has it’s place.

Another of the 5 factors in choosing the best business to start is the passion factorMost successful small businesses will struggle at one point or another and the passion you feel for your 2011  business idea is the fuel that will get you through tough  times.  Having a vision and goal of what you want to create in terms of lifestyle, money, and success is important will steer you to success, but passion is what will cause you to pick your head up and continue on when the unexpected happens (and it will).

The Upside in your business idea is the last factor I listed, though it will likely be the motivator and have a front seat in your mind as the most appealing factor in choosing the best business to start and the best way to start it, I get that.  The thing is, the upside of a business idea is theory at best during the start up phase and it is much more possible and intelligent to determine the actual  downside and evaluate the other factors first.

My Thoughts on The Best Business to Start as a Beginner

I feel that the best business to start as a beginner is a home based business idea.  Also termed online business ideas or Internet business ideas, a home based business idea more easily fits the 5 factors than most traditional business ideas. Home based businesses have much lower start up costs, they require less cash to run, they allow for a more flexible time schedule, and have a much lower downside.   The upside of a home based business idea is variable just like in a traditional business.  There are many home based businesses that turn a nice profit and many of them do it in the first year, which is almost unheard of in the traditional business world.

I do business in both the traditional business world and the home based business world.  Most of what I do in the traditional business world has to to with the commercial construction and food industries, while my home based businesses mostly consist of web publishing. 

Why I Love Home Based Businesses

Of all the things I love about home business ideas, I’d say the top is passive income.  Passive income make sense to me and creating on the Internet is the only way I’ve ever done it.  I understand you could start other businesses that have passive income streams, but most require a lot more cash than I’ve ever been comfortable throwing at a start up.

If your looking to start a business in 2011 I recommend considering a home based business idea as the best business to start as a beginner for these reasons.  Starting a business doesn’t mean you have to bet the farm or risk loosing your shirt.  Many home business ideas, some of the most successful business ideas I’ve started, didn’t require hardly any start up capital and the expenses are ridiculously low.

{ 6 comments… read them below or add one }

Rafael May 24, 2011 at 10:48 am

Hi, i have been dwelling in the shadows, like i’m certain, many do also on trying to make the dream reality, on building their own home based, or small business dream come true! Now, i feel stuck in my mind, over what to look for to launch a business plan. I have an LLC. with my wife. The business we have registered is a translation business. She’s also a registered notary. Is there a successful entrepreneur, mentor out there that can help me find the light at the end of the tunnel! Totally helpless……..

godwin February 10, 2011 at 2:10 pm

Hey hi, I read the comments and thought I could share my views……The secret lies in the type of business you choose to do from home, and the relevant knowledge. My honest suggestion is, not to attempt on something you are not sure about. “Home based business” is hyped, and only few resources seem to be genuine in directing visitors…..

admin February 3, 2011 at 8:35 am

Thanks Anita,

Again I can relate with what your saying here. It’s a good thing, the learning curve or the fact that it takes real work to get a good business going especially online. If it were easy everyone would be doing it and it probably would cease to be a good business idea.

thanks.

j.crawford

admin February 3, 2011 at 8:33 am

Hey Corinne,

I totally agree with your take on the hardest part about a small business start-up… Knowing whether or not your business will succeed or not. Will it pay off.
I went through this myself when I was looking for the best way to start a business online. It took me over two years to become confident that what I was doing would pay off and when that happen it really started to look up for me. I recommend different coachig and info products here on this site, while I get some flack about it ( they cost money ) it is one of the best ways to be assured that what your doing will work out well in the end.

Thanks.
J.crawford

Corinne Floyd February 2, 2011 at 2:38 pm

Three great books!! When starting a new business it is important to immerse yourself in ideas and inspiration – like you will find in those 3 books. The new entrepreneur has to be ready for “the season of pain” . They will start out very excited. However, when the results do not show up, like they thought they would, they must be prepared to hang on until their efforts do pay off. The hard part is to keep going NOT KNOWING if your efforts will, in fact, pay off.

Anita Lopez February 1, 2011 at 11:34 am

At first when I started a homebusiness I was sure it would be an easy task with little effort, but I found out quite soon that one really had to put an effort into it to work.
I really found the right one for me.

It can be challenging at times,but also fun

Thank you for an informative article

Anita

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