Do you feel like you were born to be an entrepreneur but you’re stuck trying to develop a good idea for your business? Well, this video is all about how you can find your best business ideas that will make you the most successful.
Hi guys. I’m Mallory Graham from mallorygraham.com. For marketing and small business advice subscribe to this channel and also hit the bell so you can get notified when I post a brand new video.
If you felt like you were made to start up your own business by the end of this video, you’ll know a simple three step process for developing many great business ideas that can lead you to living a more happy and fulfilled life. If you’re someone who’s always felt like you wanted to start up your own business, then keep on watching.
So you might be someone who has many different ideas and you’re having a hard time deciding which idea to focus on. Or you could be someone who knows that you want to be an entrepreneur, but you can’t figure out any solid business ideas. Well, I’m about to share with you a three step process that if you follow it will result in you being able to come up with many great business ideas for yourself.
Step number one, make a list of your top skills and things that you love. Ask yourself what are things that you’re really good at and what makes you really happy. For this three step process I’ve also provided three solid examples to help you out with it.
So with example number one, let’s say you are really good at entertaining and hosting parties. Hosting and entertaining really makes you happy and when you have friends and family over it just fills you up. You also love being at home and you love sharing new decorating tips with your friends and family.
Example number two. Let’s say you’re an extreme introvert who loves to go to the gym. You watch your videos about exercises and nutrition and you love to feel great about your body. You love trying new meal plans and you also have a personal transformation story.
For example number three, let’s say you are really skilled with numbers as a professional accountant and you’ve done really well for yourself professionally as a chartered professional accountant. You are a foodie who loves going out to new restaurants and trying new dishes and you also love to try new recipes at home. You also love binge watching cooking shows.
So now that you’ve done step number one, you’ve written down all of your top skills, things that you love, things that make you really happy, let’s move on to step number two.
Step number two is coming up with trends, consistencies and conclusions about the list of your skills and loves that you created in step number one. In step two you really want to take time to make sense of the list and what conclusions can you make from this list. What does it mean? Are there some trends and overlaps?
For example, step one had two parts, our skills and our interests or our loves. Now we might have a lot of consistencies and overlap amongst our skills and our loves. Some things that we’re really good at might not be the things that we love in our life. And sometimes they are going to be the same. For a lot of us, our skills and our loves are well aligned and there’s a lot of overlap, but for others that just might not be the case. This is very important because if you’re good at something but you don’t love it, then yes, maybe you could build the business around it, but are you actually going to enjoy that?
But here’s the kicker. You can still create a business that you love with something that you’re good at, but don’t necessarily love doing it all the time if you can get creative enough. I’ll show you how you can do this in step number three.
I would love to know this guys. Are you someone whose loves and skills are the same or are they different? Please share with me in the comments below.
Now that we’ve taken the time to do step number one and two, we have our list of things that we love and things that we’re good at and we’ve also come to some conclusions and realized what this list actually means and tried to make sense of it, now let’s move on to step number three.
Step number three is how can we create a valuable offer from these conclusions of our skills and of our loves? This third step here and coming up with an offer of value is where we’re starting to see the beginnings of a business idea forming. There can be many types of offers that are created in this step, but the goal is to come up with a few different options so that we can evaluate which ones we naturally gravitate towards.
Now let’s use those three examples to show how you can create a valuable offer after following the first two steps. For the person who’s really good at hosting and loves spending time with their friends and their family, now we can create an offer of value around those specific skills and interests. Now because they like to be at home, they could start a drop shipping business full of home decor items that they have hand-picked based on their expertise of home decor. Or they could create a digital course that helps people become a better party host. Or they could offer one on one interior decorating services.
For the person who loves to go to the gym and they’re very knowledgeable and health and nutrition, they could explore private fitness coaching for locals or online to everyone. Or they could create a holistic nutrition and fitness program and use their personal journey as a testimonial.
For the accountant who doesn’t love working in their accounting job could start to offer private CFO services for small businesses that are in the food space or restaurants, and that way he will absolutely love the environment that he’s working with and the clients that he’s working with every single day.
There are so many different ideas that you could come up with once you start nailing down what your skills are, what your strengths are, what are things that you love and how can you create your life around things that you’re already really good at and things that you love to do.
But it’s important to track our ideas when they come to us and when we think of them. How do you guys track your ideas when they come to you? Do you have a pen and paper or Evernote? Let me know in the comments below.
So now you know exactly how to generate new business ideas that will actually be a success for you. So after you’ve completed these exercises and you have a few good business ideas that you can start to explore and think about, I’ve created a business startup checklist that is available here.