Got lots of business ideas spinning around in your head right now and not sure what business to start? Sometimes when I was starting everyday it seemed like I had a new idea. It’s called bright shiny object syndrome and entrepreneurs get it the worst. It means it is hard to focus and you can all of a sudden find yourself pulled in a million different directions without succeeding in just one.
That is why it is important to make sure you start the RIGHT business and not regret it later. Today I am going to take you down the ideal business roadmap. This will help you get clear and confident on a direction and make progress must faster than you have in the past.
Note: This is a sneak peek of our brand new business vision and planning course just launched yesterday called, Side Hustle School. The best part is that it is only $7. Yes, really!
How to Figure Out What Business to Start
1.Write down all of your interests.
Your interests are the things in your life that you have enjoyed since you were a child. They don’t go away. For me, when I was a child and a teenager I loved helping and mentoring people. I was the go-to person that my friends would come ask me questions about dating or getting into college. Do this self-reflection and know what you are interested in before you take the next step forward.
2. Cross out interests you don’t love enough to start a business in.
Maybe you are an artist but that is more like a hobby and you might not want to start a business with it. You have to determine if your passion is something you love enough to do all day or if it’s something you want to keep as just a hobby.
3. Talk with other people.
Even though you aren’t doing networking to find a job. networking needs to be on the forefront of your tasks as a soon-to-be entrepreneur. Having a supportive network is so important for your future success. I have a mastermind group, a business coach and networking group I am very active in. It’s so important to surround yourself with people who are like-minded and supporting you. It’s also important to get feedback from others about your ideas. Other people can help you get even further direction on what business to start.
4. Create a Pros and Cons List
Take all of your ideas so far for your businesses from the above steps. You should have now narrowed them down and crossed them off after talking to so many people. Now it’s time to create a list of pros and cons for the business ideas that are still remaining. This will help you see the positives and the negatives of each remaining idea.
5. “Pick a horse and ride it.” – Lisa Sasevich
It’s time. Stop thinking and start doing. Pick a direction. Don’t spend anymore time wavering. It’s really important that you make a decision and you run with it. If you never start taking action going towards something, you’ll never get anywhere. It’s ok to make changes as you build your business. You will realize that things aren’t final for you and your motivations can change as well throughout your life. But, the most important thing for you today is to make a decision.
While growing my business over the last 6 years, I have had a lot of ideas. Some good and some bad. But, if I never would have started a blog, started taking clients or started creating courses, then I never would be where I am now. My business has completely changed from when I started and that is 100% ok.
P.S. Here are some additional requirements when picking what business to start:
1. You must pick a problem and solve it.
It’s not enough just to have passion for it. You also have to find a problem associated with that passion to solve it. I had a strong passion for helping people with their careers so I was able to find the problem of women stuck in their careers and then actually figure out how to solve it. That is what has made my business thrive and get results for the women that take my courses. It’s proven and it works.
2. Remember your ideal workday.
I want you to create a business that matches your ideal workday when you are considering what business to start. Often once you get started in your business, things move fast and all of a sudden you aren’t the boss, your calendar is. Your schedule is driving you and you are too busy to do the things you always wanted to. As you plan out your business right now, remember what your ideal workday is. Do you want flexibility or a big team? Do you only want to work 3 days a week? As a business owner, your schedule can be planned however you want it to be.
3. Make sure you create an asset, not a liability.
You want money going into your pocket, not money going out. Think about your cash flow and think of how you can create positive value for your checking account, rather than creating a liability.
Note: This is a sneak peek of our brand new business vision and planning course just launched yesterday called, Side Hustle School. The best part is that it is only $7. See you inside.
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