Deciding to become an entrepreneur/mompreneur means that you have decided to take action using your passion. The process to establish your own business can be overwhelming at times especially if you have ideas only and not sure where to start. I hope after reading this post you “take action”, have a deeper understanding of your passion, begin to identify your target audience and find your niche!
Every idea may not always be a profitable idea even though it seems like a great business opportunity. If you are wondering how to figure out if your idea is great for business complete the following steps:
Write down ten (10) potential business ideas.
If you can wake up every morning and work on that idea, especially when the it feels like no one is supporting you. These ideas are things you love.
If the idea is something that you can easily lose track of time doing. These ideas are things you enjoy doing with or without receiving payment.
Think about each idea and decide if you were born to do that idea/service. If you couldn’t work on/in that idea would you feel incomplete? If so, then those ideas are what you born to do.
Do any of the ideas make you feel great? Do you feel as if you are living in your purpose. These ideas are what makes you great.
Pause. Take a deep breathe. Take action!
If any of these ideas fit into all the categories then that is your talent! Your talent is your passion! Also, you may have more than one or two ideas that are in multiple categories and that is fine. I will give you tips on what to do with that as well.
I know you were not necessarily thinking that I would ask you to take action right now, but I wanted to provide you with some tools to start or to reflect on your journey to being a successful Entrepreneur. If you are willing to invest the time upfront that is necessary for a new business to be developed, it will make things much easier later. By narrowing down the list of ideas you will be able to identify your niche and services. Every idea that has been identified as “Talent” or “Passion” may not be profitable or a realistic business, but only a great idea.
There are multiple reasons or situations that can hinder your idea from becoming and continuing to be a thriving business: not having access to your target audience, lack of resources to produce the product, lack of skills or education to utilize or maintain the services are challenges to many entrepreneurs face daily. So you need to make sure before you invest money into logo development, a website, business cards or professional pictures that your idea is in demand, you have access to a specific group of people that will need or want to use your business and be willing to pay your value. Understanding your niche helps you build clear foundation in every aspect of your business and sends a clear message about your business, who you are and how it will benefit your potential customers.
Now that you have developed the idea, determining your target audience or potential customers that will create a demand for you!
Every business has a market, but you have to know who you are targeting. If I want to sell my services to 18- 25 year olds then I will need to develop an online presence primarily and know how to use that platform effectively. If I am a babysitter then I will want to target moms and request referrals by word of mouth. If I am photographer I need to showcase quality pictures in various backgrounds and display the images in a tasteful and professional manner. Each profession requires you to learn and understand who you are marketing to, what kind of events or activities do they enjoy, where do they live and how much or what can they afford.
You will need to develop a relationship with them and eventually transition them into an influencer marketers for your business and services. It is time for another activity. This time we are going to focus on your target audience. This activity will take time because you really have to focus on your potential customer and your relationship with them.
Step 1. Name a person that would pay for your services.
Step 2. Where are they employed?
Step 3.What is their age range and gender?
Step 4. Where do they live and do they have social media accounts?
Step 5. What are their goals?
Step 6. What might be holding them back from achieving their goals?
Step 7. What are 4 things/items/trends they like?
Step 8. How can your product or service benefit them?
Congratulations you are almost an mompreneur/entrepreneur! As a result of the focusing on target audience activity, you should be able to identify your target audience. As a bonus you should have learned who not to sell too!
Now that we have narrowed your ideas into a business idea and identified your target audience; let’s discuss your niche!
Your niche is your message to anyone that visits your website or social media pages. Using your business idea and the information about your target audience to create your “ I AM...” statement. The “I AM…” is a clear message that explains your business. It is clear to your target audience who you are, what you do, includes your target audience and explains how your services/product will benefit them. This part seems like the easiest, but actually it is not. This message is apart of your foundation as an business owner.
I am a Business Consultant expertise educating entrepreneurs facing challenges with operating and growing their businesses by providing strategies and support to identify business opportunities. Connecting you to your target audience, expanding your business network and to develop your capacity as successful Business Owners. If you are completing the activities in the blog and want assistance let’s schedule a clarity call. Clarity calls are 30 minute discussions about your business and where you are in the process. Most importantly they are FREE!