What are Your Long-Term Plans

That big picture includes, more than anything, something you can see yourself doing every day. Something that -- even on weekends -- you love to do.

And even though it is something you love to do, make sure it will feed your long-term plan. And you won't know that until you know what your long term plan actually is!

For instance, if your plan is indeed to make a lot of money and retire at a young age, you'll obviously have to look at small business ideas that are highly profitable.

This would include mostly business-to-business models. There is typically more profit selling to businesses (a product or service) unless you make it big in the consumer market.

Why would the business-to-business market be more profitable? Because a business would be more willing to invest in a product or service (that may even be a write-off) versus the consumer market which is more "luxury" driven. Meaning, consumers base a lot of their buying decisions on want instead of needs.

It's also a financial issue.

A larger business can pay a $300 invoice without thinking about it whereas a consumer getting a $300 bill may sweat a little more.

This is just an example of understanding your long-term goals so you can look closer at a finite number of business ideas to get you closer to where you want to be.

And if you go ahead and hang your "open for business" sign and then realize, "Oh, I can't make that much money doing this!", you'll only be taking one step forward and two steps back.

Grab a Pad ... Ideas Will Come and Go

Because -- like all entrepreneurs -- you're a thinker, you've always got ideas popping into your head. Probably more than you can handle (the brain only has so much room, right?).

That's why you should always keep a notebook by your side.

Sure, some of the best ideas get written on a cocktail napkin. But you're better off trying to give these ideas more permanence. And having a notebook dedicated to your small business ideas will give you a growing and buildable "diary" to use when you're good and ready to go for it!

And once you start putting your ideas in writing, you'll find yourself getting into the habit of using your notebook more and more. It's like anything else that takes practice.

The more you do it, the better you get at finding the best small business ideas. And each idea will help you grow more specific or "niche" ideas.