Oh yall, I am in love. I'm listening to Christy Wright's Business Boutique podcasts on Spotify (no this isn't some kind of plug or ad LOL). And speaking honestly, I started listening to the podcasts just out of curiosity. I do not expect to hear anything ground breaking, after all, I have been an entrepreneur for 10+ years and a mompreneur for 6+ years. Very little is earth shattering in my line of work or on being a business owner at this point. But I did end up discovering something else… a renewed confidence and courage in ME and what I am doing.
Ok, for today's topic: How to know if your business idea with work? Are you having a hard time starting your business? Do you question whether your idea will work? Below are several tips Christy gives that I just LOVE to ask yourself about your potential business. These can also be used to diagnose your stalled or failing business too.
How to Know if Your Business Idea Will Work
- You Need to have a problem that you solve – THIS IS THE MOST IMPORTANT ASPECT OF YOUR BUSINESS! You may have gotten into business because you are pursuing a hobby that you love, like me. Or you have something you just enjoy and want to share about it. Or perhaps you are just trying to earn some extra money. BUT businesses exist to help people, so your business must help someone in order to be valid. This is an excellent reminder for me with this blog. I do this because I enjoy it, which is great, however, if I want it to move from a hobby into a business I must show how what I am doing solves someone's problem, meet their needs or reduce a hard something in their lives.
- You Need to have a target market that you serve – this is the group of people that you are going to help. These are the group of people that are willing to PAY for your services.
So let's say you don't quite have your business idea yet but rather, you have a group of people you know you want to serve! You can take the same 2 steps above and apply them here to create your business. First, your target market is done as you know who you want to serve. Second, what problems do those people encounter that you can fix? Or perhaps you know you want to do something but don't know what it is? Or maybe you need help on how to refine your 50000+ ideas into a business? I highly recommend you check out her Business Ideas Bootcamp! (this isn't an ad, this is me passionately looping you into my “how to live in success sanely”) You can learn more about it here.
You can listen to Christy Wright's Business Boutique Podcasts here. And you can learn more about what Christy offers on her Business Boutique Website. She has a book, educational courses, her blog and much more I highly recommend!