The biggest obstacle new business owners face is deciding what kind of business they should start. In this post, I will offer tips to keep in mind while you figure out what you will be doing.

The hardest part of starting my business was coming up with a brilliant idea. I wanted something that ran itself as well as something the world needed. I went through thousands of ideas before I decided on my current project. During this period, I discovered what concepts I believed to make a near perfect success.

So, what is a near perfect success? Every entrepreneur has the idea of the perfect business. Even though we know that Google is a great business for the founders - it is not a great idea for those who are not tech savvy enough to run such a grand operation.

Thus, each perfect business is molded after the business owners. As you hold this thought, we should start with my ideas of the perfect business.

Know your customers
It might seem weird to begin here as you do not really know your customers before you even have your business up and running. If you think about it, your customers are the business, so without the customers, there is no business. If you have a great idea, do not build it around what you believe your customers want or need, but by what they desire. Usually business owners will get this big idea and go right ahead with it. However, they soon realize that their target audience does not like what they are offering. Exerting both time and energy on a major project just to see it limp along is not the smartest idea. Furthermore, let's assume that you do not have an idea in place - putting yourself out there and understanding your customers may provide the idea. Knowing ahead of time what they need and create products or services around that demand to get to people walking through your door - that is a perfect business idea.

Passion
It does not mean you have to be a lunatic about your business. But, it does mean you give it everything you got. Nine times out of ten, you will spend 16 hour days working on your business - usually for the first year. You have to be on your mental toes to continuously think about ways to improve and expand your business as well as mentioning it to everyone you know, everywhere. If you start a business that you do not have a passion for, a drive to wake up before the sun rises each morning, it will be twice as hard to put in the required hours to make it a success - thus it's not a perfect business idea for the unmotivated individual.

Keep your enemies close
Every business has adversaries - either direct or indirect. Think about the music industry. They have direct competition from iTunes or the Internet. They also have indirect competition from consumers spending their time eating out, movies, hanging out at social events, etc. The normal stuff people always do in their free time. Furthermore, some competing businesses are brutal. This means that if you market and offer special deals on a product or service that is almost like theirs, but at a lower price, these businesses will match or even lower their own prices just to beat you. If there an established business - they could slash their prices long enough to drive you out of business. If you do not know who you are dealing with - what they will do to push you out of their market - you will likely spend most of your time battling a pricing war then expanding your business - it's not a smart move.

Keep the cash flowing
Most entrepreneurs get into business with their big dreams but with a very limited understanding of the money it will take to get them there. A big portion will even order a sample of their product or service to experience the process of taking it to market, but they also forget about the money it also takes to handle other operational costs - marketing, staff, insurance, office supplies, phone, Internet, etc. -for a solid business plan. Plenty of businesses have failed because they did not cover regular expenses like rent or utilities.

Remember who you are
Know what you are capable of. Know your pluses and negatives. Know that you are ready to push yourself beyond human limitations to make your business a success. I have seen plenty of business owners hang a sign in their window and expect to have it made. Then, when it comes to the day-to-day activities they do not want to put in the time, energy, or money for overall success. Therefore, know how far you can push yourself. Moreover, know your current financial situation and what must be done to cover your standard of living. If you think your business will pay off from the beginning - it And, if you depend on it, it's not a great business idea. Get rid of outside distractions like your money situation - get that in order - then, when your business idea does not fall through - you will still be able to go back to brainstorming and expansion. In the end, you have the safety you are looking for - which is the right business plan.

It does not matter how sophisticated your business - mom and pop shop or a multi-national corporation - if you build your business around these tips - your ideas will be close to perfect as possible.