MIHM110 - What Business Should I Start?

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Do you know you want to start a lifestyle business but are stuck for ideas? Perhaps you’re low on cash, time, self belief?

Whatever it is one of the issues facing you is the sheer amount of opportunities now available to us.

Where do we start?

In todays episode of Make It Happen Monday, I’m answering an email I received from a lady called Sarah who asked this very question – ‘What business should I start?’

Here are my top 3 tips for hacking away the jungle of information surrounding you and making your way out into a sunshine filled clearing with decision and precision in mind!

Enjoy!

Hello! Welcome to Make It Happen Monday.

I had a great email a couple of weeks ago from a lady called Sarah who said;

‘I’ve been following you for a couple of years and everything you put out is fantastic.

I’ve been looking at different online businesses, but find it challenging on which to start.

I have very little disposable cash to invest. Can you advise me what you think would be good to start.

I need to be doing something that brings me the lifestyle like yours.’

Great question Sarah, but a toughie for me to answer as it really depends on your time, resources, passions, skills, interests etc.

But I thought I could give some suggestions that might help you in the decision making process.

There are literally hundreds of lifestyle business ideas you could start tomorrow ranging from dog walking to ghost writing to digital marketing, selling on Etsy, building websites etc etc.

But almost all of them can be categorised into the following areas;

1. Freelance Services – virtual assistant, marketing agency services, building websites, etc.
2. Information Marketing – online courses, ebooks, affiliate marketing, books
3. Coaching / Consulting – one to one, one to many coaching services
4. Ecommerce – selling physical products online – Shopify, Etsy, Amazon, Ebay etc
5. Influencer Model – Sponsorship / product endorsements etc
6. SAAS – Software as a service – Software, apps etc

There may be the odd outlier but most fall under one or more of these 6 categories which helps when thinking about which model suits you the most.

So here are three steps you can take to really hone in on the the type of business you’d like to start and what that business might be.

Step 1.

Focus on the process not the result.

Your objective might be to create an amazing lifestyle where you travel the world and work your own hours as and when you want to, but focusing on that will only take you down scammy rabbit holes following people and programs who sell you the dream, not the reality.

Your lifestyle will be a direct result of the effort you put in and the value you bring to the table.

So what are you interested in or passionate about?

What hobbies or interests do you have which could be translated into a business opportunity?

Do you love entrepreneurship in general (like me) and want to help businesses grow?

Do you make beautiful jewelry or clothes in your spare time which you’d love to sell online?

Are you a natural cook and would love to teach people how to make cakes, or vegan food, or Indian food or healthy meals for kids etc.

Do you love Yoga and believe perhaps you could become an online Yoga instructor.

It all starts with what you love to do, what are your hobbies and do they correlate with a gap in the market or an area that you believe you could really add value.

Step 2

If you’re still not sure and can’t think of something that really floats your boat, then look at the available business models as laid out at the beginning of this podcast and in the show notes accompanying this episode.

What business model excites you; blogging, being an influencer, offering a service, selling physical products, building a brand etc. If there’s a model that excites you then you can learn a new skill to adapt to that model.

For example, you could immerse yourself in Facebook Ads and become a FB ads coach.

You could immerse yourself in graphic design and become a graphic designer.

You could immerse yourself in ecommerce and start an online store in a popular niche as I have done.

You could become a podcaster and interview people in a specific niche, build an audience and make money from sponsorship.

The ways to build a business are endless, you just have to decide on something (even if it’s not quite the right thing for you just yet) and go for it.

Have a look at my Make It Happen Monday Episode 84 – What To Do When You Don’t Know What To Do

It’s the story of how I got going even though I wasn’t entirely on the right path at the time. It’s better to be moving and switch lanes than to do nothing and just think about your goals.

Step 3

If by this stage you are still undecided – although I would hope you might have one or two potential ideas by now – focus on who you’d love to serve.

Sometimes deciding on ‘who’ we’d love to attract / impact / serve with our business can help us decide what business to get into.

Foe example perhaps you’d love to inspire Dads who work too hard to manage their time better and focus on their health & families more.

Perhaps you’ve just navigated your way through your kids teenage years and feel you’re well placed to help parents with teenage kids survive the onslaught! (I’m speaking as a Mother of a new 13 year old here)

Maybe you’ve just had a baby and suffered with postpartum depression and would love to help other new Mums cope.

The opportunities are endless my friend, so you have to decide on something and then go for it.

Next week I’m going to run through the 10 Steps to Building Your Lifestyle Freedom Business from the Ground Up which pretty much applies to all of these business models so between now and then jot down some business ideas going through the 3 steps I’ve shared today and then after the next episode you will be able to formulate a plan and the one that gets you the most excited to follow the plan is the winner!

Yippeee!

I do hope todays episode has helped.

Thanks for listening and if you get a moment I would so appreciate it if you could rate & review the podcast on iTunes.

Have an amazing week, live life on purpose and of course Make It Happen!

Jo 🙂