Every business starts with an idea. Then comes the business plan. Usually the latter is easier to do that finding that idea, which in time will bring you money, after all that’s what we’re after.

Don’t expect me to give you ideas about your next business. I’m just trying to guide you a little and even tell you what you shouldn’t do in the first place. So, let’ begin.

1. Don’t try something in an area that’s already overcrowded. Don’t try to make the next Facebook, search engine or video sharing website. Look at Microsoft, they can’t beat Google in search no matter what they’ve tried, and they have power, contrary to you. You have greater chances of success in a niche business, where competition is not fierce. Too small and you’ll end up the sheriff in a two people town.

2. Double check before you start. Even if your idea seems brilliant, check if you’re the first to come up with it. The phone was already invented, you know.

3. Investigate the niche where you plan to start. Start checking your next competitors, make sure your idea is different enough so that you have an advantage. Also try to estimate how much money the whole niche is worth.

4. Watch trends and try to anticipate what people will need next. No, you don’t have to be Nostradamus, but you have be able to anticipate in order to plan your moves. Always be informed about what’s happening in your niche and try to imagine what will happen in short, medium and even long term.

5. Make a good business plan. Without it you have more chances to fail, as you can’t estimate your expenses and income. If you have to borrow the money then you definitely need a strong business plan to convince someone to invest in your business.

6. Plan at least three steps. Don’t try to do everything from start. Decide what’s essential in the first place then plan for other improvements, after you’ve started your business. Also make scenarios and plans when different things happen. You don’t want to be caught with your pants down, do you?

For me, those things are common sense, without them you’ll never be able to start and maintain a successful business. If you have any other ideas please share them with me, don’t be afraid as we’re all learning here.

If you fell you need to read more about online startups I recommend you read this: Internet Riches: The Simple Money-making Secrets of Online Millionaires