by Natalia Jones

Created on: March 16, 2009

Becoming an entrepreneur is a goal many find elusive. Indeed, the challenge of finding and committing to a business idea leaves some blank and renders others dizzy from the merry-go-round of ideas that run them in circles. Admittedly, there is no blanket remedy for getting past this first stumbling block on your way to becoming your own boss. The truth is that finding a business idea that has the potential to be nurtured into a business success is as much an art as it is a science.

The concepts discussed below will examine how to come up with business ideas, as well where to find ideas about starting your business, as these two are closely intertwined.

"To thine own self be true." This precept has survived centuries of literature, and remains today as profound as the first day it was penned. The importance of being honest about your strengths and weaknesses cannot be overstated. Taking the time to answer some questions in the following areas will not only prove invaluable in the planning stages of your new venture, but will also jumpstart ideas on possible business opportunities.

An honest self-assessment of the areas listed below is one way to ensure you are on the path that is right for you.

Your educational background and prior experience. You may think that one of the perks to being your own boss is that you no longer need to update your resume, but this process is a good measure of your abilities. After all it is interesting to find out if you would hire yourself to perform the task you are thinking of undertaking.
Level of commitment. You may think this is a strange question to ask of a person obviously interested in starting out on their own, but asking yourself some hard questions like "Am I willing to work weekends and nights until this business gets off the ground?" and "Do I have the support of my family?" are issues that if dealt with upfront can make for a smoother transition into your new role.
Expertise and interests. You may be an expert in an area that if properly explored might reveal an underserved niche, or maybe by tweaking some aspect of a product or service you can unearth a promising opportunity. Not to mention you would be making a living doing something you really love.
Personal qualities. It is important to be extremely truthful about your personality. If you are not self-motivated, or resourceful you may want to rethink or plan a strategy of attacking your weaknesses to ensure success. It is also useful to analyze what you dislike doing.

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