Finding an industry you’re passionate about
There is one thing you don’t want to do and that’s start a business in an industry you don’t care about. Why? Because owning a business is all-in and non-stop. One of the key steps to finding an industry you’re passionate about is finding something that captivates your attention and where the hours fly past. However, owning a business can’t help but captivate your attention because you are so financially tied with its success. If your attention is being entirely monopolised by something you aren’t that interested in, it will eventually be something you hate that is taking up all your mental and physical energy.
Search online for tips to finding your passion and you will be swamped with an unending cavalcade of self-help sites, articles and references to self-help books. It is arguable that many people who feel the need to scour through these sorts of references are the sorts of people who don’t have just one ‘passion’. Those with a singular passion know it and know it early on. Those who seek outside help and direction are often those that may not have ever felt entirely consumed by a passion for their work but have enjoyed certain aspects of certain jobs and are seeking a path that brings together this joy into a singular and new endeavour.
This may be where you come in. Those that have an overpowering passion for an industry in which they want to start a business probably haven’t even clicked on this article. For you, there may be a number of industries that suit you and your more flexible personality and skillset. For this reason, remain realistic as to who you are and don’t suddenly expect a lightning bolt that will change your personality while flashing a neon sign in front of you saying “Your Passion: Dog Grooming Business”. Instead, now is the time to run through a few things listed below to help guide you to a range of options that you can eventually narrow down even further.
Assess your personality
There are many free and effective self-evaluation tools that should be a first step in assessing to what industry you are suited. The most common is the famous Myers-Briggs Type Indicator, or its affiliated tests, which provide you with an insight into your personality type and how you address management as well as other concerns related to your career or business. This is a great way to start the job of honing down your choices to perhaps several industries.
Know what you aren’t
Just as effective as finding out who you are is finding out who you aren’t. Being sure to write your ideas down, also write down industries you know you don’t want to work in. If after assessing your personality you know that you work best autonomously, then this may impact your role within your own business and how it may relate to financial partners. If you know you don’t want to be inside every day, this will eliminate a great number of options and even shape those you are beginning to lean towards.
What will grab you?
As someone who may have a number of interests and has never been totally consumed by one thing, it is important you find an industry in which your attention will be kept by your work in the right way. As mentioned earlier, running a business requires your constant attention. If you feel like this is something that wouldn’t grab your attention if you weren’t so financially linked to its success, then perhaps look elsewhere.
It is important to seek the advice of others within the industries that interest you. This is not just important for helping you to understand the necessary qualities of owning a business within any given field but it also opens you up to possible business opportunities.
Narrow it down
Once you have several industries in mind, the best way to then settle on one is to couple an understanding of your strengths and skillset and how well this relates to the industry with an analysis of the industry itself and how much opportunity for growth there may be. With the qualities you bring to the role, can you move the business forward and help it grow? Do you have ideas to how it could be run better than how others are running it? If you can answer these questions favorably, then you may have found the kernel of the next chapter in your career.