You may never know what results come from your action but if you do nothing there will be no result. – Mohandas Kanamchand Ghandi
Welcome to Day 2 of the 20-Day Business Startup Challenge! Today we’re going to explore your ideal business idea. If you already have one, fantastic! Today’s challenge will help you clarify and fine-tune your idea.
Coming up with the right business idea can be hard. You’ve probably already had a dozen different ideas but have dismissed them all for one reason or the other. How do you know when you have the right idea?
A lot of people I talk to have an idea but worry it’s not good enough or they aren’t good enough. Some even feel like the idea is too silly or dumb.
Finally, other people I’ve spoken with worry their idea is already over-done. They feel the market is full so they can’t make their mark in that industry. Do you feel this way?
First things first – No idea is too silly or dumb.
The worst case scenario is your business idea may need a bit of tweaking to be a money maker for you. Most any idea can be a successful business with the right approach.
Second, never waste time worrying that you don’t have what it takes to be successful.
The only way you to fail is if you don’t try at all or give up when the going gets rough (and it will get rough). Anyone can build a successful business. It doesn’t take exceptional skills or a superior education. Don’t believe me? Check out “4 Inspiring Stories of Normal People Building a Thriving Online Store.”
Third, it makes no difference if there are a million other companies with the same idea you have.
First, they are not you. No one has your exact background, experience, and unique perspective. What you offer will be different because you are different – that’s a great thing.
Oh yeah, a little hint about small business ideas that a million people seem to be all be doing.
If there are people making money in the industry you are most interested in, that means you can make money too. If no one is selling anything in a particular industry, then no one a is buying (a.k.a. there may not be a market for it). Just some food for thought.
All that said, how can you come up with the right business idea for you? Let’s work through a few questions to help you discover the perfect small business idea for you.
I recommend getting away for a few hours, or a day, or even a weekend. Go somewhere that inspires you. It can be the beach, the mountains, or a local park. You want somewhere you can be alone to think through each of these questions. You also want time and space to craft what your ideal business will look like.
When you finish the questionnaire, you should have three main ideas. Now start sharing those ideas and see what others think. Don’t worry about people stealing them – most people are too scared to start a business in the first place. You want to get a sense for which ideas will have the best response.
Next, you will want to share with a few strangers as well. You want unbiased feedback if possible. It’s great to ask your mom, spouse, and best friend but they will give a biased answer because of your relationship. If you can find your ideal clients to share with, that would be the best. For instance, if your ideal clients are single moms, try finding some single moms to get feedback.
A Quick Caution About Following Your Passion:
The standard advice to follow your passion can be dangerous. Far more often, passion follows mastering a skill. To learn more about this, please view The Fallacy of Following Your Dream. I also recommend the book, So Good They Can’t Ignore You: Why Skills Trump Passion in the Quest for Work You Love By Cal Newport.
Some parting advice before you go:
- You are unique and have a very specific voice, do not be afraid to use it.
- No idea is too small or silly – it just may need some tweaking.
- Don’t give up, no matter what. If your WHY is big enough, see your idea through.
- The biggest secret to building a successful business is action. All the successful entrepreneurs you hear about took action. That’s why they are where they are today. Yes, they made mistakes and weren’t perfect when they started. But the key takeaway is that they started, then kept going.
Don’t give up! You can do this.
Download the free questionnaire by clicking here. Remember, it’s best to get away for a few hours, a day, or a weekend to a place where you can be alone with your thoughts. You’re going to want to spend some quality, uninterrupted time thinking them over. Don’t rush, take your time. In the end, you should have a pretty strong idea of what your new business will be.
Stay tuned for Day 3 of the 20-Day Challenge – Testing Your Idea. To get an email once it’s available, enter your information below.