How to make a living owning a business

Hey everyone, I hope you all had a great new year. I’d love to get some advice from people who have done this because I really want to start a business and make living.<br><br>I’ve been a business owner for a long time so I have a good idea of how to run it but idea generation is where I have a problem. Together we can brainstorm and come up with ideas to make a living.<br><br>Just to clarify when I say make a living I mean make enough money to pay my bills. I’m not looking to be rich, I just enjoy being my own boss and I like the challenge.<br><br>I’ll start with what I think are the basic rules to a business and some assumes that are made about the business.<br><br>&#x200B;<br><br>Basic business rules assumes<br><br>Make something people want<br><br>Charge enough to make a profit<br><br>Don’t spend all your profit<br><br>&#x200B;<br><br>Next is what I assume about the business<br><br>High risk high reward<br><br>$1000 start up capital<br><br>Low risk low reward<br><br>$1000 start up capital<br><br>Low maintenance<br><br>Will probably be an online business<br><br>Moderate risk moderate reward<br><br>$2500 start up capital<br><br>High maintenance<br><br>Will probably be a brick and mortar business<br><br>&#x200B;<br><br>Some ideas so far are <br><br>Moderate maintenance and risk<br><br>Partnership and a brick and mortar business<br><br>Moderate maintenance and risk<br><br>Online business<br><br>Low maintenance and risk<br><br>Online<br><br>&#x200B;<br><br>I will update and post all ideas we come up with. Let me know in the comments.<br><br>&#x200B;<br><br>Edit: some assumes I just thought of <br><br>I have the ability to get financing or a small loan<br><br>I have enough credit possibly for a credit card<br><br>I have skills in the business <br><br>I know basic business skills like finances, marketing, etc<br><br>I’m willing to learn <br><br>The business will become profitable <br><br>The business can be profitable quickly or eventually