What Type of Business Should I Start

When I asked myself, what kind of business should I start, there was really only one answer. It had to be a Internet software company because that's all I really know. There are a lot of businesses I find interesting, like operating hedge funds and commercial real estate, but I stayed clear of them since it would be much more of a learning curve.

So, I wanted to start a business I knew something about. I went through all sorts of ideas. I wanted an ad based business vs subscription revenues. I've run both types of businesses online, and in general ad businesses are easier to scale. I wanted to do something that was related to a current trend, but was far enough a head of the curve, but not so far that we wouldn't find a market. I also wanted something that could be built with a few people and had the opportunity to go viral. So, I planned a product that was in the software ad business, relied on search engine optimization for traffic, didn't require inventory, and could be built with a small team.

Outside of that, it just so happens that I've worked in software my entire working career, and while I may have more experience in the entertainment space, I knew enough to stay out of it as well.

So, in short I'd say start the kind of business that you already know. I wouldn't worry too much about other things like market size and financing, but I'd shoot for something that you can do better than the rest. And the best way to know if you can do something better than the rest is by having experience in the domain.