If 2017 is the year you’ve decided: it’s time to stop putting time and energy into building somebody else’s dream, and you’re ready to start building your own business, then you’ve come to the right place I have some much in store for you this year.
The number one question I’m asked as a business coach is, “What business should I start?”
With so many people creating brands and starting businesses, figuring out what type of business to start, one that is worth the time it takes to build can be a daunting task.
When you start working on your plans, your mind runs all over the place you find it difficult to focus on and build up an idea nevermind a business. When you sit down to plan or brainstorm, the possibilities seem endless, you get stuck and never seem to move beyond that brainstorming phase. Or you get so stuck on one idea that your eyes aren’t open to see opportunity anywhere else. Can you relate?
Today I’m going to give you a road map to pinpointing your idea, so you can create and build a business that is meaningful and also makes you money.
The first step is to simply dream.
When you have enough life experience under your belt. You can sometimes start to kill your dreams (potential business ideas) before you can even fully conceptualize them. It’s so easy for your mind to go straight to the reasons why the business may never work and figuring our where the money will come from to start it, among a million other things. Put all those limiting thoughts on hold for a minute and just dream.
Put all those limiting thoughts on hold for a minute and just dream.
Think about what you lose track of time doing.
Think about the skills people compliment you on.
Think about what you think about when you have free time for your mind to wander.
Think about the industries you love being a part of or that you love learning about. (Beauty, education, food etc.)
Think about what people thank you for most often.
Think about how you can possibly turn your thoughts and dreams into a business.
The next step is to think about problems.
Every profitable business has one thing in common: It solves a problem. It is the answer to a problem a customer has. It fulfills a need.
Many businesses fail because they’re either built around the desires of the business owner, or what the business owner may think is the next big thing rather than the desires and/or need of the customer.
Your business should directly respond to a problem your customer experiences, whether it’s baking special treats for those who have a sweet tooth but are gluten intolerant or new mom’s that would benefit from a delivery service for groceries and/or other necessities because they don’t get around as easy as they used to.
Here’s how to think through problems your business could solve:
Think about the communities you’re a part of. What challenges do people in that community talk about over and over again? (i.e. people at your church, at your 9-5 or in your immediate circle)
Think about your own little life hacks. Have you created a work-around or do you have the answer to a common issue many people have? Do all your friends ask you to plan their parties because you’re amazing at throwing lavish, memorable events on a budget?
Think about the problems in the world that make you most sad or angry.
All of these things you thought of are clues to the problems you’re “closest to” and most equipped to solve well with your new business.
The last step is to connect the dots.
Think about everything you’ve just uncovered – your deepest dreams and the problems you see around you. Connecting the dots is all about finding where those two things intersect.
As Aristotle said, “Where your talent and the needs of the world cross, there lies your vocation.”
Once you’ve connected those dots and are starting to see business ideas emerge, the next dots to connect are between these potential ideas and your own reach and resources. There may be factors in your life (location, finances, connections, talents, past work experiences etc.) that make you a perfect fit for one of your business ideas. Or other factors (like the kind of family life you want, certain commitments, lack of knowledge or experience on the subject) that make it easy for you to eliminate a potential business idea.
So, to recap, the answer to “what business should I start” : allow yourself to dream, think through the problems you see around you and then connect the dots between what you uncovered and your own skills, resources and possibilities.
How’s your business brainstorming process going? Tell me about it in the comments below!