Are you one of those aspiring entrepreneurs stuck in “aspire mode” because you can’t figure out exactly what you want to do? If so, there’s no need to beat yourself up about or stay stuck. You can get unstuck by following three simple steps. These steps will help you figure out what product or service to sell through your startup business. The core focus of each step is all about figuring out your passion so you can turn it into a “niche business”. The consensus with this process is that pinpointing your passion will help you find a niche that you can focus on in business. This is a crucial process in your development as an entrepreneur because the business niche you choose will set you apart from the competition. Here are the 3 steps:
Brainstorm
Writing down your ideas is one of the best ways to figure out what you are passionate about. The key here is to write down everything that interests you that you can see yourself doing whether you make money or not. That’s very important. So many people start businesses strictly because of money instead of focusing on the value they’ll add to the lives of the people they sell to. How is your product or service going to benefit your customer? The benefits you provide to your customer should be what drive you. Choose what you will sell based on those benefits.
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Narrow It Down
After writing down all of the things that you are passionate about and that interests you , you’ll need to narrow your list down to your top three (five at the most). This is your “niche” list. It’s important that you make the right choices. What you choose to sell (how you sell it), largely determines your success in business (amongst other things).
Take Your Pick
Choose one niche from your niche list and build your business around that. You can choose to focus on more than one thing from your niche list if they are related. I advise against offering products and services that aren’t complimentary because it might confuse your target market. Focusing on a niche and offering services that are complimentary in a way that your major competitors don’t will help you compete effectively and dominate your industry.
This list may seem to too simplified for some but I did it and worked well for me. I’m a strong advocate for writing down your ideas and brainstorming to figure out your passion. We can have a lot on our minds at times and getting those thoughts down on paper will certainly help us focus.
