So we’ve covered step 1. Your business should stem from something you love, passionately.
The next step is really to figure out what to do. And I believe that comes from discovering a need. Not a ‘nice to have’ but a real need. A gap in the market.
How to discover this? I won’t say it’s easy, but, if you really love this topic then odds are that you have the answer inside you. What do YOU want or need when it comes to this area?
Be sure that it is a real need.
For instance, let’s say you love cricket (the sport). And no cricket website let’s you find a player’s statistics based on name. This is not a need. Any existing sport website that carries cricket could add this feature. But if no one was writing or covering your favourite league, or doing it in your language, then THAT is a need.
I read some business book recently that said ‘you are not the customer’. And this is true, but, at the beginning you have to take that role. You have to satisfy your own desires for this topic.
The Greater Good
Even better than finding a solution that will satisfy you is to find a solution that will help society in general. If you can find something that will ease social problems, help underpriveledged people or societies then you are really onto something and a special person.
Fulfilling the need should be priority #1. That IS your business. Write it on a piece of paper and stick it on the wall.