While going through your two lists, you may have run into a business idea that made you think: “This is awesome! I could make a ton of money with this!” Be careful, as it’s dangerous to fall in love too much with your own ideas. Even if you share your idea with friends and they love it, take that with a grain of salt, because if you do fail, you’ll be the one to suffer and you likely won’t receive any sympathy.
Nobody starts a business just to lose money. 100% of people start with the absolute confidence that they’ll do great and make tons of money. But as I’m sure you know, the chance of a business failing is enormous. The majority of businesses fail within a few years.
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