Deciding to take the leap into entrepreneurship is bold. It’s exhilarating, full of possibility, and deeply empowering. You’re setting out to build something of your own—to create, lead, and make a difference. But while the journey can be incredibly rewarding, it also comes with real risks.
Here’s the hard truth: more than half of all new businesses fail within the first five years. That stat alone is enough to give any aspiring entrepreneur pause. So, what’s behind this high failure rate?
Sure, there are a lot of factors: market conditions, cash flow, competition, but one of the biggest reasons is this: many entrepreneurs start the wrong business.
They pick a business that doesn’t match their strengths. Or one they think will make money, but they don’t actually care about. Maybe they follow a trend, jump into an industry they don’t understand, or chase someone else’s version of success.
And when the challenges hit, and they will, it’s hard to push through if you’re not passionate about the work or connected to the mission.
In this post, we’ll dive into how choosing the right business, one that truly aligns with your natural strengths, passions, and long-term vision can dramatically improve your chances of success. Whether you’re still exploring ideas or already committed to launching, this step is too important to overlook.
Let’s make sure you start on the right foot.
Let’s be honest, starting a business can be tough. There will be long days, unexpected problems, and moments when things just don’t go as planned. That’s why passion isn’t just a “nice to have”, it’s a must.
Unfortunately, a lot of new entrepreneurs start a business just because they think it will make them money. And while making money is a great goal, it’s not enough to keep you going when things get hard. If you don’t actually care about the business—what it does, what it sells, or who it helps—then it’s going to be really hard to stick with it when you’re tired, stressed, or overwhelmed.
Passion is what keeps you moving forward, even when you’re facing setbacks. It gives you energy when you need it most. It reminds you why you started in the first place. When you truly love what you do and feel connected to your product or service—and the people you serve—it doesn’t feel like work. It feels meaningful.
Think about some of the most successful entrepreneurs you’ve heard of. Chances are, they didn’t just build a business for the money. They were passionate about solving a problem, helping people, or creating something new. That passion became their fuel.
So before you dive into a business idea, ask yourself:
Do I care about this? Am I excited to wake up and work on it every day? Would I still be interested if the money didn’t come right away?
If the answer is yes, you’re on the right track. Passion can’t solve every problem, but it’s the key that helps you push through them.
Read more about: Characteristics of an Entrepreneur
Here’s something every entrepreneur should know: not every business is a good fit for every person. Just because one business idea works great for someone else doesn’t mean it will work for you.
Even experienced business owners have made this mistake. They’ve built successful companies in one industry and then tried to do it again in a completely different one—only to fail. Why? Because the new business didn’t match their skills, interests, or personality.
That’s why it’s so important to find a business that’s the right fit for you. One that plays to your strengths, excites you, and feels like a natural match.
So how do you figure that out? Start by asking yourself some simple, but important questions:
Do you enjoy health and wellness? Are you drawn to technology? Do you have a passion for fashion, education, construction, or maybe food and hospitality? Think about the types of businesses you’re naturally curious about or excited to learn more about.
Some people love selling physical items—things you can see, touch, and ship. Others prefer using their skills to help people by offering services like coaching, consulting, design, or repair. What feels more enjoyable to you?
Business-to-business (B2B) means your customers are other companies. Business-to-consumer (B2C) means you’re selling directly to people. For example, a company that sells accounting software to other businesses is B2B. A bakery that sells cookies to people walking in the door is B2C. Which group are you more excited to serve?
Some people thrive in a close-knit, small team where they can be hands-on. Others dream of building a large company with many employees and big operations. Both are great—you just need to know what feels right for you.
High-end, low-volume means you serve fewer customers, but offer a more expensive, premium service or product—like a custom furniture shop. Low-cost, high-volume means selling more units at a lower price—like an online store with affordable items. Think about what style of business makes the most sense for your personality and goals.
Read more about: The 9 Essential Stages to Seamlessly Launch Your Business
If you’re unsure about what kind of business to start, don’t worry, you’re not alone. Many aspiring entrepreneurs feel stuck at this stage. The good news is, there are powerful tools and resources that can help you get clear on the best path forward.
One of the most helpful resources out there is Chapter 6 of Entrepreneurial Leap by Gino Wickman. In this chapter, Gino walks you through a step-by-step process to help you discover the type of business that’s the best match for you. He shares real-life stories of entrepreneurs who found their fit, and he breaks down the different types of industries, business models, and sizes so you can start narrowing down what excites you most.
But what really sets this book apart is the tool called MyBiz Match™.
MyBiz Match™ is a free, practical tool that helps you map out your ideal business based on who you are. It’s not about choosing a random idea that sounds trendy or profitable—it’s about discovering a business that matches your:
The tool guides you through questions about whether you prefer products or services, B2B or B2C, high-end or low-cost, big or small, and more. It helps you make sense of all the options out there so you can make a confident, informed decision.
When you build a business that fits who you are at your core, everything flows better. You’ll be more motivated, make smarter decisions, and enjoy the journey a lot more. It’s the difference between forcing something and finding your true zone of genius.
So before you invest time, money, or energy into a business idea, take a step back and use these tools. They can help you start smarter—and increase your chances of long-term success.
You can find the MyBiz Match™ tool and other free resources at e-leap.com.
Starting a business is one of the most rewarding journeys you can take—but it doesn’t guarantee success. By choosing a business that aligns with who you are, you significantly increase your chances of building something meaningful and sustainable.
So before you launch, take the time to really reflect on what kind of business is right for you.
Your entrepreneurial journey starts with one smart step. Make it the right one.
