Business Empire Magazine provides how to's and articles for entrepreneurs by entrepreneurs

Do you know you want to start a small business, but aren't sure what type of business would be best for you? It's not always easy to decide on a business idea, especially if you have a lot of different interests.

Just remember, sometimes ideas sound great, but don't work as well as you thought they would. So, how do you decide which way to go?

Make a list of any hobbies and interests you may have. Once you have finished, take a look at the list in front of you and write down any potential businesses that could some from your interests. It's important when deciding on a business idea that you choose something you like to do.

Now that you have a few ideas, it's time to narrow the list down. The obvious goal is to work your way down to one business idea. First, cross off anything that doesn't make much sense or that you may not be able to put your whole heart into. With a new business you will be more often than not be working a lot, you want to make sure you aren't going to end up hating what you are doing.

Take what's left of your list and do some research. It's time to find out which business idea is financially feasible and will generate a good profit. In order to do this, you need to do a little bit of research. Start by figuring out what your costs would be for each business. Will you need to lease office space or can you work from home? Will you be selling a product or service? If it's a product how much will it cost you to make it? How much do you want to profit on each product you sell or service you provide.

Now you have a total cost to work with, and once you added the amount of profit to that it gave you a price. This will be a price that you charge your clients. Look at the prices for each business idea you have left, do any of them seem over priced? If so scratch that idea. For the remaining ideas, you can do a simple Internet search to make sure the prices you have come up with are competitive to similar companies. If you find any that are over priced after your search, then scratch them off the list. If your list isn't narrowed down to one option yet, then simply choose whatever business idea you like best out of the ones that are left. Now that your you have your new business idea, you can get to work making it legal.