Friday 2 August 2013

Starting a Business: How do I know what my business should be?

So you know that you want to run your own business - but do you know what that business is yet? Do you know what will keep you in it for the long haul? What will stop you getting bored with it? How do you know if it will be a success?

In this series of Starting a Business articles I am going to look at how to identify the business you would most likely be successful at, what will determine its success, how to know what your strengths and weaknesses are and how to ensure you can be committed enough to make it work.

This first article will look at five ways to find the business that will suit you. It covers similar things to other articles because life and work constantly cross over in their psychology.

1) Identify what you want

What exactly is it that you would change about your current situation? Are you working too many hours? Do you need to feel like you are giving more to people or giving less even? Do you want to be more flexible in your working hours or do you want more of a fixed schedule? Do you want more social interaction or to get away from the politics of the office? Do you want to work from home? Do you want to reduce your travel time? Do you want more variety? What is it that dissatisfies you currently? Make a list, make it a list that is really hones in on EXACTLY what you want to change (e.g how many hours do you want to work, how often would you interact with others face to face?). Outline your ideal day from the moment you wake until the moment you go to sleep. What do you notice in there that doesn't feature in your everyday life at the moment? Would you like to start the day with a walk or an exercise class? Would you like to spend time in the garden? Perhaps you would like to go out for lunch everyday? Write it all down and highlight the points that you feel most strongly about. Make a final 'must have' list of things that you really don't want to compromise on and put them in order. If the one thing that you absolutely won't compromise on is, for example, your working hours put this on the top of the list.


2) Identify what drives you

When you were a child what was it that you wanted to do? What about when you were a teenager? What is the essence of these things? Did you want to be a policeman because you like the idea of feeling like you could protect others or maybe because you wanted to feel important in the eyes of others, perhaps you liked the idea of the uniform? Did you want to do something creative? Why? What was it about being a famous pop star as a teenager that really attracted you? Do you love music, being on public view, did you like the fashion icon side of it, do you like performing, travelling, being adored? Be honest with yourself, there is no judgement in identifying what you truely find attractive about a certain 'dream job'. Can you get this essence in your current job?

What things really excite you now? When are you most happy? Do you like to be indoors or outdoors? Do you like working alone or with others? What would make you want to get up in the morning with a sense of excitement at starting the day? Is there a hobby you love that you could turn into a business? Do you find yourself being drawn to certain types of things? Maybe you love (like me) collecting vintage crockery and you could hire your collection out to people having events? Perhaps you are always setting your friends up on dates and could do this for a living? Maybe your friends always come to you when they want advice and you could train as a counsellor? Identify what really drives you in its essence.

3) Create a shortlist

Once you have identified the things you really love write each one down on a separate piece of paper and start to come up with ideas connected to each of these. I like creating mind maps but you can do this in any way that comes naturally to you. Mind map example shown below:

 


What ideas can you generate connected with each strand of enjoyment? You will naturally start with the most obvious ideas but as you think further your mind will become more creative - set yourself a challenge to come up with at least two more ideas than you can come up with without too much thought.

Connect the dots with your ideas, some of them might link really nicely. Perhaps you love being outside and also love working with children but want to have the flexibility to only work certain days? You could run workshops for children two days a week where you take them on nature walks and build dens as part of curriculum linked topics? Maybe you love shopping for a bargain, enjoy making lists and are generally very organised? Could you market your strengths as a virtual PA?

4) Ask your friends and family

Sometimes you don't actually recognise your own strengths or give them much value. This is where others around us can help to clarify things. Ask everyone you know (not incessantly..!) what they could see you doing in the future, what do they think you would be really good at? What do they value about you? Do they think you are always really coordinated when you dress? Do they think you make people feel at ease? Are you unafraid to voice opinions? Do you always try to get money off the bill? Their feedback can show you some of the things about you that you may not ever really thing of as being able to convert into strengths that can be used in a business.

5) Create your vision and question it

Once you have a few options for what you might want to create as your new job or business, draw up a picture of how that will look on a day to day basis. If you decide that you want your new career to be as a fashion blogger because you have identified that you enjoy writing, wearing the latest fashions and you want to work flexibly and sometimes from home - think about what you would need to do on a day to day basis after all the exciting and hard work of getting it established would be - is it what you want? Are you willing to spend the time necessary? Are you committed to it? How would it affect the others around you? Is that ok with you? This is the time to refine your ideas, develop them further and discard those that don't meet the top things on your 'must have' list. Once  you have your final vision make at least one step towards that goal immediately!

Next time in this series we will be looking at how to identify your strengths and weaknesses.

Did you find this article useful? If so please share it with your friends!

Love Nova xxx

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