This is a powerful video from Mike Rowe (Dirty Jobs).

Declining trade school enrollment…fewer handymen, carpenters and more people who know how to build and use their hands.

Take the time to watch it. It’s worth the 20 minutes

I wish it were easy enough for me to tell you exactly what business to start. On HowtoStartup.com you get a full list of small business ideas anyone can start if they want to.

But that doesn’t mean they’re all the right fit, either.

See, trying to find the “perfect” business is almost impossible. You can be happy (real happy, in fact) when you land the right idea and the drive you need is on autopilot. But you can also get into a business because it matched up with your passions until one day, it loses the original appeal and becomes (gulp) a job.

The thing is, no matter what, running a successful business takes work.

It take drive.

It takes planning.

Customer service. Selling. Buying…

Next thing you know, you’re so busy running your own business the reason you started in the first place is no longer valid.

Maybe it was a hobby and then, after a while it loses all the fun it did before you labeled it “business.”

That doesn’t mean you can’t have passion in what you do. And it doesn’t mean you can’t turn a hobby into a business. What it does mean is sometimes you need to figure out what it is you’re looking for.

You need to put food on the table and, although we all like to think “I’m not in it for the money” the truth is your business will always require “work.” It’s a matter of making sure it’ll be work you enjoy for a long time and not something that wears on you over time…no matter how much money you’re bringing in.

So then…should you go after your lifelong dream of building a business out of your hobby?

Do you take your passion and do something you love…keeping it as small and simple as possible?

Or do you go after a business you can manage, letting other people do the work while you “run the ship?” so you can grow your personal wealth, where you have more freedom to enjoy other passions if life? (Your kids, your spouse, spending time with friends, travel…)

Like anything in life, you not only have to take the good with the bad but you have to find the right balance.

No hobby can ever become a business without the headaches involved in being on your own. On the other hand, no business has to be so dull and boring where you can’t find aspects of it that drive you with passion. (You might enjoy selling and dealing with people, or helping solve problems for people…which opens up dozens and dozens of business ideas that fit the bill.)

If you’re prepared to start a business, you have to figure this one out from the start.

Some entrepreneurs are born to hustle and make money by building something big and fast.

Others are more the hands-on type and doing the actual work in the business is a joy.

Some just get into business to enjoy the freedom and end up finding new passions and let others handle the pieces you don’t want to touch.

If you’re trying to find the right business to start, then take the first step and figure out why you’re doing it and where you can find that balance.

What’ll give you the rush?

The most common and confusing questions ever asked by new business owners: Should I Incorporate or just keep it simple and go the self employed, sole proprietor route?

Now, the legal formation of a business is a critical decision that needs to be made when you first start your business. It doesn’t mean you can’t change the legal form of the business down the road or that there isn’t good and bad to both answers. (We won’t even go into LLC for today’s post.)

You should know why you’re incorporating or forming a sole proprietorship before you make the move. And there’s plenty to consider.

However, the final decision, of course, is based on what type of business you’re starting from a legal and financial perspective. You should be getting advice from an accountant, lawyer or even an insurance agent.

Why Incorporate?

The number one reason for incorporation is to protect yourself from any liabilities. A business such as construction, for example, is a high liability business — and one that needs to be incorporated. For the most part, incorporating will protect you as the owner from losing personal assets.

By forming a corporation, you are actually not the business (as you are with a sole proprietor.) You are only an “employee” of the business. This is not to say you don’t have anything at stake as a corporation. It is your responsibility to protect your business from these liabilities.

But you, the person, are protected. Your house is (for the most part) safe. Your personal savings are (for the most part) safe. You are not free and clear, and often not able to wash your hands free of mishaps, issues, or lawsuits towards your company.

You may, however, happen to be in a small business where your liability is very limited because of the nature of that business. For this, the cost of incorporating may outweigh the benefits.

But if you’re generating a decent income from your business — the benefits go well beyond simple asset protection. Forming a corporation also provides tax benefits that you won’t see as a sole proprietor. These include better health insurance deductions, retirement plans and even investment benefits.

Some states make it simple to incorporate without having to go through a lawyer. However, other states make it very burdensome and expensive to incorporate, causing business owners to make the decision based solely on cash flow. If you’re just starting out, it’s a tough decision to spend a few hundred dollars on incorporating your business versus getting the word out with your first marketing campaign.

Your best option is to do the research and find out what the process to use in your state. Don’t be surprised to have plenty of questions when you start staring at the forms. You can head right down to the office where your state incorporates and they’ll be able to walk you through the steps. (Not always…these folks aren’t always the most friendly service providers you’ll come across. Sort of like going to a DMV)

Why a Sole Proprietorship?

A sole proprietorship is still the easiest form to setup.

You’re literally looking at a drive to town hall where you fill out a short (generic) piece of paper and pay anywhere from $5 to $75 (depending on where you live, of course). At the most, you may end up paying an additional zoning fee if you’re going to work out of your home.

The process of becoming a sole proprietor, front to back, is far simpler.

And there are still tax and other benefits to you as the owner. As a sole proprietor, you are your company. The income is your personal income and the debt is your personal debt. You are taxed on your income from that business just as you would any personal income, with the addition of tax advantages.

Many small businesses do not expose their owners to great losses or liability claims, making a sole proprietorship an affordable option. Again, this should be discussed with your accountant, lawyer and an insurance agent.

Even if you decide to file for a sole proprietorship to get your business off the ground for a few years, you can make a decision later whether or not to incorporate.

Disclaimer: HowtoStartup.com is giving you an opinion and advice to help you make your decision whether or not to incorporate your small business. We highly recommend you check with a qualified business attorney and/or a tax accountant to help with your specific business situation. HowtoStartup.com will not be held responsible for your decision. (Of course, a lawyer made us say this.)

Feel free to comment below.

Bad business ideas are plentiful online. People with little knowledge of what it actually takes to start a business start throwing around ideas. But it hurts those who are really looking for a way to make the move into business ownership.

But falsely start off on the wrong foot. With the wrong ideas.

See, the key to building a successful small business is finding the right idea — that one business that works for your personality and your budget. Finding that idea is a process that takes patience and persistence to find enough reasons why it’s the right business for you. (And that a real market exists to make your venture profitable.)

Of course, it’s a lot easier to forget long term planning and go for immediate gratification so you can say “hey, I started a business!”

It’s the wrong way to do it. There’s certainly something to be said for getting started and taking action. The fact is, what holds most people back is making the move from “dreamer” to “doer.”

I’ve decided to put together a list of tips to help you come up with a bad business idea…overnight.

That way, rather than worrying about success, you’ll at least be able to brag that you started a business — even if it doesn’t make money!

Tip number one – Go for the Money and Expect to Make a Lot of It. Fast.

Start spending a lot of time and money learning about a business that sounds like it could make you a ton of money. It doesn’t matter that the business bores you or the fact that you have zero knowledge of the industry.

You know the ones…you’ll see the commercials around 2 am.

Tip number two – Don’t Try and Learn Too Much.

Don’t research the business or find out who your customers will be of if they actually exist. After all, who wants to deal with customers anyway. They always think they’re right.

As long as your small business idea sounds good to you and some of your friends, it should be fine.

Tip number three – Ignore the competition.

Most customers are willing to give you their money since they know you’re trying to start your own small business. You really mean well, so the money should pour in quite easily.

Even if they’re already got a relationship with someone offering your identical product or service, new customers will probably call you before you even know who they are.

Tip number four – Go for What’s Hot Today!

Start a small business that has to do with the latest fad that’s here today — gone tomorrow. Who cares about long-term-growth, anyway. (You could always go back to your old job, right?)

Tip number five – Jump on the first idea that comes to mind.

As soon as you have an idea, go for it. Forget planning anythying. And don’t try to think of ways to create a specific niche that’ll bring you more money. What a waste of time!

Tip number six – Get that “Overnight Millionaire” kit.

Look for a “business in a box” that says you can make thousands a week without getting out of bed. (Have you thought of stuffing envelopes in bed?)

Those signs on the phone poles are usually where people find fantastic opportunities, too!

Tip number seven – Don’t worry about how you’ll promote your business.

Find a small business idea that doesn’t need any marketing or promotions.

In fact, it’s probably an idea that nobody else has heard about and marketing would only “let the cat out of the bag.”