Assalaam Alaikum sir, My self Mohammed Suheel from Karnataka I want to start my own business but I don't have any idea how and which business is perfect to start.

Ans: Look for what your core skills are, in which you are better than others. Then understand your sectors / areas of interest and business opportunities therein. Take up the opportunities where the market size is significantly large, or growing and in which you can best leverage your core skills. Also evaluate how much capital expense each opportunity requires to develop a successful business in.

Ans: The first trait about an entrepreneur is the ability to solve problems through innovative solutions. If you have no idea about what to do , how to do etc. how will you ever do business. Please don’t waste time in finding an idea.. look for a job. It is more safer and easier to do a job.

Ans: In whatever is your area of interest, talk to as many experts and consumers you can.. evaluate if your idea is solving a real problem that your potential consumers face. Fine tune your business idea. Then again talk to people if they are willing to pay you money to sort out the problem.. and how much. Concurrently, talk to experts on the cost of solving the problem/ offering the solution. Wherever you think the cost of solution is lesser than what people are willing to pay, is a good idea to work on prima facie. Then create a detailed feasibility report. Take help of some expert at this stage. Understand the investments and evaluate how you will need to fund the business initially. See if you can get some grants / seed funding. Typically seed funding is through friends and family . There are also a few govt schemes for entrepreneurs- see if you can get some grant/ financial assistance under these schemes. Put some of your own money and start implementing your idea in the mean while. Don’t be over optimistic in your planning. Work for the best but be prepared for the worst.

Ans: Understanding your question, I can clearly see you are not ready yet. You neither have a business idea, nor a plan or resources. You are looking for some expert to tell you everything, which is a non starter.