If you’re like us, you might have been tinkering with the idea of quitting your job and starting a business for years. But it’s not always that easy to figure out what type of business you want to start.
There’s probably something that always gets in the way… A new bill to pay, the uncertainty of losing that steady income. But you still yearn for more. More time with the kids, more freedom to travel, to take on new adventures, to stop answering to a boss. Reach that f#ck you position…
Sound about right?
We’re no experts and we don’t have everything figured out. We are NOT a success story (yet!) sharing how we did it so you can follow our path.
We are just starting the hustle.
So we thought it would be a good time to share our journey and tell you about some of the things we are doing to figure out what type of business we want to start.
Figuring Out What Type of Business You Want To Start
What are you good at?
Might sound simple, but it’s crucial: Are you detail-oriented? Thrive on routine? Great at persuading others? Start with the skills that you’re good at, like really good, and figure it out from there.
I’m not going to rattle off all kinds of work you could do online. But here’s a great (if long) article on how to find your thing even if you have few technology skills and here’s another one that might give you a different perspective on how to start an online business.
The name of the game today is specialization – make sure you are ready and give this step the attention it deserves.
Make a plan
Once you decide what type of business you’re going for, develop a step-by-step plan on how you’re going to achieve it.
This can be a bit tedious and overwhelming (it’s where we’re at right now…), but going through this process is time well spent. We recommend developing a business plan because it will force you to consider many aspects of your business, from your goals to your competition.
We got this google docs business plan template that’s pretty straightforward.
Develop your UVP
A whatta? A unique value proposition is a common marketing term that you must make yourself comfortable with.
Remember what I told you in point #1 about figuring out your specialization? Well, this is where that comes into play.
Your unique value proposition are those attributes that you provide that no one else can.
Here are some questions to get you started:
- If you had to do only one thing for the rest of your life, what would you do?
- Who do you want to work with? Maybe there’s an industry or certain location you love – Focus on that.
- What problem do they have that you can solve? – Put yourself in the business owner’s shoes.
- Are there many other people doing that already? What could you offer that they’re not offering? – That’s your golden ticket.
Study your craft
So now that you know what you want to do and you’ve established a timeline for yourself, this is where the how comes in.
You might already have a decent head start on whatever it is that you want to do. But trust me, you can do better.
You owe it to yourself to be a better version of yourself.
I’m not talking go back to college and get that masters that you’ve always thought about study, although if you can, why not? I’m talking about getting that tactical, how-to knowledge that many online courses, blogs, and even some podcasts offer.
Do yourself a favor and pay for a few courses. Even if you’re not spending a lot, the act of paying will help you commit to them.
Follow those that do
Which brings me to my next point.
Along with attending some courses, following leaders in your field can be a great way to gain the knowledge you need to launch your business.
Influencers don’t happen overnight. Even if you can’t stand the Kardashians, you HAVE to give the original influencers one thing: Whatever it is that they do, they’ve been working at it for a very long time. They are committed to their craft and have figured out a way to stay on top of their game.
Point is, influential figures have put in the time. With time comes knowledge and the power to share – and sell – a lot of what they know.
Figure out who you want to be like when you grow up and follow them. You’ll be surprised at what you learn.
Buy a ticket
A plan is only as good as it’s execution. Don’t get stuck in the planning phase for too long, at some point you gotta jump in and make it happen. You won’t have everything figured out and you WILL make mistakes along the way. Many times, businesses, much like life, have a way of figuring themselves out. They take a life of their own, so give them space to breathe, and to grow.
To close this one out, let’s finish with a quote from Eat, Pray, Love:
“There’s a wonderful old Italian joke about a poor man who goes to church every day and prays before the statue of a great saint, begging, “Dear saint-please, please, please…give me the grace to win the lottery.” This lament goes on for months. Finally, the exasperated statue comes to life, looks down at the begging man and says in weary disgust, “My son-please, please, please…buy a ticket.”
― Elizabeth Gilbert
Are you ready to buy your ticket?