Creating a Business Idea Shortlist
What we’re going to do in this tutorial …
We are going to come up with ideas about services you can provide, and look at who is likely to pay you the most money, and give you the most joy to work with. Just like personal relationships, business works best when both partners are fully engaged, enthusiastic and appreciative. So we’re going to find your ideal partner from a business perspective.
Why we need to do this …
When searching for a business idea, many people look at what other people are doing.
It’s not a bad idea – it’s important to know if there’s already a successful business doing the things you want to do, because it means there is a market for it.
And you have a model to work from when building your own business.
But the person who started that business may well have very different skills and abilities to yours, different strengths and experience levels.
So whilst the business they are running might be the best thing for them to be doing, it might not be the best thing for you.
Rather than “what kind of business should I run?” there is a better question to be asking:
“Given my skills, passions and experience, what group of people can I profitably add the most value to?”
This group needs to be made of people you can resonate with, because it’s very hard to to design a business around people whose key drivers you have no grasp of.
And surviving in business is about finding better ways to profitably serve your customers than the competition does.
It’s how you get people to choose to buy from you.
There’s a saying: you can have anything you want providing you help enough people get what they want.
Your income as a business is essentially the product of how many people you help multiplied by how grateful they are for that help.
How we are going to do this …
- For the groups of people you know about, look at ideas that will live in the overlap of the three circles above.
- For each idea that you think has potential, list it in the table below, noting who it serves, and what value you think it adds to them and to you on a scale of 1-10