Episode #005: What Kind of Business Should You Start?
This episode is all about choosing your escape vehicle! What do I mean by that? We are looking at the different business platforms and options for you to start exploring and researching when it comes to ultimately ditching your day job!
This episode is for the person with the entrepreneurial spirit who is ready to identify the right approach when it comes to building a business. Should you open a brick and mortar? Are you ready to launch or scale your online business? Do you want to partner with an established company?…
First, let’s evaluate the vehicle you’re currently in and is it working for you?
Let’s say you haven’t ditched your day job or started your own business or passion project, yet…
That means your current vehicle is whatever job you’re in - a 9-5, corporate, something where someone else holds the wheel. How does that feel for you? Are you good with that? Are you wanting something different?
Let that sink in, because that feeling is what will drive you through the tough times in this process, because there will be many. Assuming you’re here because you don’t love the idea of sticking it out in that life forever, let’s talk options.
We get to take a look into the different opportunities that you can drop your passions, skills and vision into to start to build something that creates a profit.
The good news is that anything you’re good at, passionate about or can speak on can be monetized today if it’s presented to the right audience through the right vehicle.
I’ve created a simple 3 step method that I’ve been using with my students to help them identify the right option for them…
The ECA method helps you to Evaluate your areas of strength, Choose the best opportunity to fit those strengths and take Action in bringing that vision to life. This is where you’re going to find your Profit spot, where your purpose and your passions collide.
On your worksheet for today you’ll see a section where you can start the evaluation process. This is where you’re going to write out the things that strike you as either passions, skill or talents or things you love researching or teaching on. This will really help you to start to identify what direction you want to be going in.
For example -
healthy living or fitness…
parenting…
cooking…
motivation…
writing…
knitting…
Certain passions or talents will fit more seamlessly into certain escape vehicles.
Let’s say you make beautiful calligraphy and you love doing hand lettering. There are options for you - you can start an online shop or brick and mortar where you sell your hand lettered piece one by one for a profit, or maybe you think outside the box and see how you can use that knowledge and skill to start an online business that wouldn’t have the same overhead as a physical product business. Maybe you decide you want to help other people who have that same skill and teach them how to do it well - techniques, ideas, tools, how to monetize it - so instead you use that skill or talent to start a fully online business and create some online courses aimed instead at other calligraphers!
Do you see how you’re no longer contained to one option? In this episode I dive much deeper into ALL the options available to you as an entrepreneur because I KNOW you are reaching, wishing, WANTING for something SO MUCH MORE!
Now is the time that you start really thinking about how you want your life to look, the day to day and the impact you’re looking to make. This is your time to enjoy the process of envisioning what’s to come!
Are you starting to believe that there’s something out there for you? That you can create whatever it is that you want and bring it to life in a way that only you can?