Which kind of business to start?

What kind of business shall I start ?

• I'm into computing and I love it and I am currently doing a pc technician course. I'd like to start my own business but Im in doubt if I should start an electronic components business or a clothing one. which one has the best call ? I'd like to start locally but If in the future I'd also like to start exporting worldwide. Please give me some ideas. best answer 5 pts ! thanks

• Answer:

  This is a vast subject. You won't glean sufficient information in a Yahoo! Answers thread to make a particularly informed decision on what to do, necessarily, though I might have an idea "how" you could approach it. That said, you are studying to be a computer technician, but might be interested in either "electronics components supply" or "clothing?" Curious how A interrelates to B or C? Perhaps A is to put food on the table, and B and C are the dreams? Hope so. That aside, smart first step is to produce a business plan. I realize businesses are started every day without this, and God knows how they get financed, but it would be to your benefit to do this. It would follow that with a plan, at least one: you know what you're getting into; and two, any financial backers have an idea the path to profitability that is measurable and actionable. That's all the latter would care about, naturally (making money on their investment). A business plan will comprehensively address major aspects of what you plan, including though not limited to (in no particular order): - Financial projections, path to profitability - Startup funding sources - Management team - Full description of business - Known competitors, and competitive landscape - Strategic objectives short, mid term - Your stake or skin in the game - Expansion planning Creating a tight, rational, peer-reviewed startup business plan will vastly increase your ability to attract funding (assuming you need funding). There are tons of websites with business plan examples, or offers to assist you in building one (for a fee). I would carefully research what used to be called SBA Loans, too (not sure what they are called now, nor how that is going given the poor business climate during the Great Recession). A team of management consultants and I counseled an India-based startup a few years ago not to think too big, too early: dominate local markets, then regional, and carefully consider going offshore which opens up another immensely complicated set of rules for success. Small steps. Would suggest same for you, not know much else about your plans.