You want to start a company but most likely have one of the three thoughts:

• I know what I want to sell but just don't know how to get started.
• I have an idea of what I want to sell but don't know if it's the right product.
• I have absolutely no idea what to sell.

If your thoughts match the second and third bullet point, carry on reading. If not, skip to the next section.

Finding your product:

Starting a company is not the same as selling shoes every now and again on eBay, or selling a random product using drop shipping.

You should start a company based on something you have knowledge in, or you enjoy, or at least have interest in. Why? A company requires consistent attention, building, nurturing and patience. If you decide to start your company based on something you have no interest in or hate, the process can quickly become tedious, frustrating and gruelling.

How do I know if I have the right product?

Well the honest answer is - you don't. Somebody could start a company selling the same product as you and struggle, whereas you are succeeding. The industry my company is in is EXTREMELY saturated and I'm often asked why it's doing so well. The reason is because I chose a niche product and delved into a market within my industry that had barely been explored. I met the needs of customers in a niche sector within my industry.

Let me give you an example. Say your desired industry is jewellery. The jewellery industry is heavily saturated but not EVERYONE'S needs or wants have been fulfilled. What could you do to stand out? Perhaps find an alternative material to sterling that people who are allergic to sterling can wear? Sure, they may be able to wear real gold and silver, but they may not be able to afford it. Who would your target audience then be? People who are allergic to sterling silver and gold on a lower budget.

In a nutshell, choose an industry you're interested in then decide how you can meet the needs of your audience by creating something that is missing within that industry.