How to Find Your Business Idea
Regardless of why you want to start a side or small business, there’s never been a better time to do it.
So, you want to start something, but you’re not quite sure what.
Maybe you’ve always had the urge to do your own thing. Or maybe you’ve recently become fed up with a job you hate. Maybe you’ve got friends running their own business and wonder if you could, too. Or maybe you just want more flexibility to be with your family. Regardless of why you want to start a side or small business, there’s never been a better time to do it. We live in a side-gig generation—so why not you?
Business Boutique became a #1 best-selling book—which is awesome, because that means a lot of people now have the plan they need to start or grow their business idea. But what if you don’t know what business you want to start? As Jack London said, “You can’t wait for inspiration. You have to go after it with a club.” So let’s get going! Here’s a quick way to come up with your business idea.
If you already have a business idea, check out my podcast below:
Ep 44: How to Know If Your Business Ideas Will Work
My Strategy for a Winning Business Idea
This strategy is simple. I want you to start with what you have: your skills, your strengths, and your stuff. This is important because when you start with what you have, you save yourself a lot of time and start-up costs! You make it easy on yourself to win because you already have what you need to get started.
- Your SKILLS
What education, experience, certifications, or credentials do you have? Do you have a degree in public relations or accounting? Have you worked in a particular business or industry? Do you have graphic design or project management experience? Think through any skills that you have and brainstorm a list of business ideas that you could start based on those skills.
- Your STRENGTHS
What are your natural gifts and talents? Are you a gifted singer or artist? Is organizing or decorating effortless for you? Do you enjoy teaching or coaching others? If you need help identifying your strengths, you can take a personality assessment, such as the DISC, or you can check out my podcast about the Five E Questions. After you identify your strengths, I want you to add to your business idea list with more ideas based on your strengths.
- Your STUFF
What stuff do you have? Do you have a swimming pool or sewing machine? Do you have a computer or piano? After you brainstorm business ideas based on your skills and strengths, I want you to add to your list with more ideas based on your stuff. Even obvious stuff—like your house and car—can be used! After all, that’s what successful companies like Airbnb and Uber are based on!
Now, when I coach women through finding their best business idea, there are three additional factors I have them consider. I’d love to walk you through those, too, in my new course: Business Idea Bootcamp! This four-week course will take you from dreaming to doing, so check it out.
Once you’ve taken everything into consideration, you should have a pretty good list of business idea options. From there, you can narrow down your list to your top ideas. A great way to narrow down your list is by thinking about the future.
Think about your life in five years. What ideas would you actually still want to be doing five years from now? Which ideas sound the most exciting and fun? Which ones make the most sense for your life and your resources long-term? Narrow your long list down to your best ideas.
If you’re still on the fence about whether or not starting a business is right for you, I talk all about how to make that decision here.
But if you’re ready to jump in, explore your ideas, narrow it down to your best one, and kick-start your plan, join my Business Idea Bootcamp today!