W2 Reflection: Choosing a Business

Brainstorming business ideas...

As I prepare myself to create and run a successful business, I find myself experiencing a series of emotions.  Some of those emotions are excitement and eagerness, while other emotions include feeling overwhelmed and worried. The idea of opening and running another business sounds amazing and is something I truly want and look forward to doing.  I have a goal to run several businesses and look forward to learning how. I am, however, juggling an intense schedule that offers little to no time to invest into anything new so this will be an exciting yet challenge task ahead of me.  

 

This week in my Web Business Creation class, we are brainstorming busines ideas.  We were to choose 20 different business ideas to run some numbers on, such as demand, potential clicks, how many clicks our budget would support, and competition level, etc. I learned a new tool called Key Word Search on Google Ads that has been very helpful in creating a business matrix.  Speaking of a business matrix, I have really come to appreciate the value of using a decision matrix – such a useful tool.  

 

The most challenging, and slightly exciting, assignment this week was coming up with 20 different business ideas.  The number seemed overwhelming at first, but as I started asking around and writing down my insights, new ideas kept coming to my mind.  I actually started to enjoy the challenge of coming with new ideas.  Some ideas are stronger and more possible than others, but it was fun to challenge myself and see what I could come up with.  As ideas were coming, it was amazing to personally reflect which ideas led to instant excitement and passion, while others were less meaningful. 

 

After choosing 20 ideas, we were to research some data points listed above and narrowed our selection to our top 5 – where we then put together an extensive matrix.  This process was awesome and very helpful.  I am not sure I will run with the business that was ranked top, but gained so much insight going through this practice.

 

As this is just the beginning of this journey, I will continue to report how the process is going.  Exciting things are to come.  

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