You want to start a small business, but don't know what kind? Take our quiz to figure out which type of business is right for you.
There are so many benefits to starting your own business -- autonomy and flexibility of your time, control over the services and products offered, opportunity for increased income, or turning a labor of love into a full-time career. But while all entrepreneurs may realize these benefits, not all small businesses are created the same. For some, an investor-worthy web startup is the right pace and challenge, and for others, a home-based product line has success written all over it.
So which type of business might be best for you? One that plays to your strengths. Take our quiz to find out more:
You base important decisions on:
Do you like to adhere to a schedule or do you find excitement in a flexible and changing schedule?
- Flexible and ever-changing
- Set schedule
Do you work well in teams or do you work better alone?
Are you outgoing or more of an introvert?
When you have a lot on your To Do list, which do you tackle first?
- The easy things - cross as many things off the list as possible up front
- The hard things - get the most difficult or taxing task done first
If you answered mostly A's, you might consider starting a small business in the areas of:
- Client Services - Marketing and event planning are two areas in which you're likely to thrive. It's a requirement that you're creative and outgoing so that you can interface with clients and come up with attractive and buzzworthy campaigns that promote your clients' products, services, and events. Sales may also be a strong suit for you if you're intuitive and are skilled at persuasion.
- Restaurant or local small business - If you wan to run your own brick and mortar store or local restaurant, it is imperative that you demonstrate independence and creativity, are an effective leader, and know how to collaborate with a number of different types of people. These types of businesses are often fast-paced and can be a great deal of fun for extroverts who love to meet and network with new people.
If you answered mostly B's, the right type of business for you might be:
- Franchise owner -- as a franchise owner, you operate your very own establishment of an existing chain. Franchisees are required to follow established business rules dictated by a franchisor, though they are responsible for the execution of these branding and operational guidelines. There are many franchise opportunities and thriving franchises that you might consider opening up.
- Independent consultant -- you may do well offering independent consultancy services in the areas of research, finance, or technology. Running your own consultancy gives you the freedom and control to develop your own services and product offerings and work at the pace you prefer and in the environment you thrive in, be it your home, in an office you lease out, or on-site at your clients' offices.
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