Guest Post by: Tumi Frazier, founder of Tumi Frazier International
Are you contemplating starting a business but don’t know what kind of business is right for you? Well, you are not alone. There are various factors to consider when choosing the type of business you want to start. Remember, you do not have to start a business from scratch; sometimes you can perfect what already exists.
You may choose a business based on what you are passionate about and love doing because passion is the one thing that gets you out of bed when things get tough. Sometimes you may start a business based on what you know or what you are good at. You may be good with people, numbers, computers, creating things, solving problems, writing and so on. Let’s say you’ve worked in the technology field for many years and you are exceptional at what you do to a point where your family, friends and neighbors defer to you for technical advice or support. So, given your great reputation and relationships in the industry, you can easily start your own business.
The other way to start a business is by solving a problem. Consider what you need that would make your life a lot easier? Let’s consider the hugely successful entrepreneur Sara Blakely in this case, the founder of Spanx; she was getting ready for a party when she realized she didn’t have the right undergarment to provide a smooth look under white pants. As women, we can all relate to this. So, Sara cut the feet off her pantyhose and the Spanx idea was born from solving this wardrobe challenge. The Spanx brand has now grown to offer bras, underwear, jeans, pants, active and more. In 2012, Sara Blakely was named the world’s youngest, self-made female billionaires by Forbes Magazine and one of TIME’s 100 Most Influential People. She opened retail stores across the United States and Spanx can now be found in more than 50 countries worldwide.
Or how about the brilliant and innovative idea of using staircases as an innovative space-saving way of storing shoes? While most of us are aware that the area behind stair cases is often used as storage for various things in apartments and some houses, there are now sliding shoe racks that fit right beneath each tread you step on, which is a brilliant idea. It is convenient; it resolves the space challenge in apartments, and offers an alternative to other methods of shoe storage.
So, what problem do you see around you that you can resolve to make life easier for you and others?
Tumi Frazier is a South African entrepreneur, professional speaker, author, TV personality, consultant, and founder of Tumi Frazier International, Tumi Leadership Academy, and Tumi Foundation. Tumi is an internationally acclaimed Leadership and Change Management expert who has worked with high profile clients and organizations across Africa, United States and Europe. Tumi has authored 4 books: Courageous Stories of Inspiration; In the Midst of the Storm; Stepping Stones to Success; and Your Moment. Follow Tumi Twitter | LinkedIn
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