“I just don’t know if I have what it takes to start a business”
“I don’t have a strong passion for anything in particular”
“What if I quit my job and have to come crawling back because I failed?”
These are common concerns I hear in the community when it comes to quitting corporate and starting your own business.
I myself struggled with these very same thoughts when I was miserable in my corporate job dreaming of the freedom to do work I actually cared about.
The truth is everyone has to face his or her fears when it comes to deciding on starting a business. It’s….confronting, scary and vulnerable.
Not everyone is cut out for it.
How do you know if you could be a successful business owner if you’ve never tried?
How do you know if your fears are what are holding you back or if you really aren’t cut out for it?
The best way to find out if it’s right for you is to go ahead and start a business anyway and see where it takes you.
You can dream, think and plan all you like but the best way to know what to do next in your career is to give it a go and take action.
The key ingredient to starting the right business is to come up with right idea for you.
So how do you do that?
Let’s get into reality: Inspiration is not going to come to you out of the blue. Unless you’re super creative in which case kudos to you!
If you want to find an idea then you’ve got to take action and have fun with it.
Generate ideas. Filter through the good and the bad. Figure out which one is profitable.
You can do this if you’re up for it!
But fist a word on passion…. don’t stress about finding it.
You may never make a change if you are unsure of what yours is!
Instead follow this 5 step formula:
Step 1: Identify what you’re good at
Make a list of what you are good at and really enjoy. From looking after pets to doing your friends make up. Get it down on paper.
Side note: passion will come when you bring passion to those activities that you are good at. From there momentum will build. Personally, I never knew that coaching and developing others was a passion of mine until I went back to the drawing board of ideas and decided to test it out on some real people.
Step 2: Figure out who you want to help
Now that you have a list of what activities you enjoy, take a moment to figure out who you feel most called to help.
Maybe it’s animals, children, corporate women, aspiring authors, small business owners. Who do you want to serve?
Step 3: Brainstorm a list of 10 business ideas based on what you’re good at and who you want to help
Can you see how you could marry the two areas? Maybe you want to help small business owners with their finances or educate stressed out corporate on how to eat better.
A note about competition: This is a good thing as it shows that there is a market for what you are looking to create. There is more than enough to go around and the more you niche down, the less competition there will be. You will bring your unique spin on things so don’t worry about being “just another [fill in the blank]”
Step 4: Pick your favourite idea that feels good to you and do a little research on whether there’s a viable business model there
We are blessed to be living in an age with Google and the Internet. As Marie Forleo says “everything is figureoutable.”
Do a little research and see if you can realistically make a profit in your chosen business area and if that lifestyle is appealing to you.
We’re not looking for a fully-fledged business plan here, just some ball-park numbers.
Keep rinsing and repeating with each of your ideas until you land on one that you’re excited about.
Step 5: Ask yourself “What’s the one action step I can take to test out this business model for me?”
Baby action steps and mini-experiments will get you there.
At the beginning, I decided to trial out my coaching to 3 women. At the time I just knew I wanted to work with women (corporate women came later).I offered them a complimentary month of coaching once a week and fell in love with the work and THEN decided to go and get further training and develop my skills.
You’ve got this!
I’m curious to hear from you:
Are you interested in starting a business? If so, I’d be super grateful if you could spare 2 minutes to answer this super short survey.
Thank you so much in advance!
Wishing you a great weekend.
P.S. I’d love to know more about your (potential) business idea. Could you please spare 2 minutes to fill out this short survey?