It’s one thing to decide you want to run your own business…and it’s something else entirely to know exactly what that business is going to be! Likewise, it’s easy to dream about “one day”, but picking a starting point in order to get to that destination is a little trickier.

At this stage, it’s really important to take some time to discover your WHY – your foundation, your guiding light, your raison d’être. Once you become clear on that, the next steps will take shape before your eyes. You’ll begin to see how your purpose, passion, and income can all come into alignment so that they can all fuel each other, and create the business of your dreams.

Your Top Talent

Together we’re going to explore what makes you unique and I’m going to help you define your top talent. I’m also going to suggest some resources for you if you’re really unsure about your direction and need some in-depth exploration.

Do NOT rush this stage of the process! It is far better to take the time and effort to define what it is you want in the beginning, than to set up a business and have to change it all later because you realize that’s not actually what you want to do! Or, that although you want to do X, or already are doing X, you haven’t come up with the best way to position yourself, or offer X to your potential customers.

This is not something that anyone else can do for you, or give you the template for! It can only come from you – your desires, your dreams, your passions and interests.

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So grab a notebook and take some time to answer these questions as honestly as you can:

 What do friends or family say about you – what do you often hear them repeating? (Note: If you can’t think of anything, go to 5 friends or family members and ask them: What are the 3 best things about me and what are the 3 worst things about me? Then write their answers down.)

 What do people always ask you to help them with?

What do people often ask your advice about?

What are your top 3 interests, or hobbies – what do you read books about, take courses in, spend time doing, or really enjoy doing?

 What could you talk about for one hour with no problem?

 What do friends and family say you’re really good at? (Note: Again, if you can’t think of anything, go to 5 friends or family members and ask them: What are my top talents, what are the three things I do best? Then write their answers down here)

 What do you wish you were really good at, or better at?

 If money was not an issue, what would you spend your days doing?

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Now go over your answers to all those questions. Look for any common or repeated elements. Which of those things leap out at you? Which things make your heart sing? Distill it down further into your top 3 talents, skills or interests. The top three things you have to offer the world, or are passionate about, or good at, or interested in.

 

 

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Your Top 3 Talents or Interests:

1._________________

2._________________

3._________________

 

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Turning Talents Into Income

Are you inspired and excited, or nervous and apprehensive, or a little of each? Now that you’ve nailed down what your top three talents are, you may be wondering: Fine, but how do I turn these talents into money? Or, if you’ve already built a business or blog around your top talent, maybe you need more ideas for how to monetize (generate revenue) from that talent, skill or interest…

I didn’t start out as a health expert – I lived the journey, and I shared as I learned (and still do!). What did I do to kickstart my business (though I didn’t know that’s what I was doing at the time)? I wrote a book. I wrote down everything I could remember about my intense, seven year recovery from Chrone’s disease, and I published it as an eBook. That’s all I had time for (I was raising kids and breastfeeding babies – I just wanted the information to be out there for whoever needed it). When, much to my surprise, the book took off in a real way, I started to build up more infrastructure to support it, and to answer questions from my reader. I began adding more eBooks & healing protocols; then I had to start selling other company’s products that I was recommending, because people were having trouble sourcing them. Eventually, I started formulating and manufacturing specific products that nobody else could make to my standards. I now have ____ books and _____ products in my health shop; I produce webinars and teleseminars, audio courses, how-to videos; I used to offer one-on-one consulting… the list goes on.

So even if you’re not ready to offer a million different products, can you see how your business will grow organically the more you work with it? All that started with one eBook back in 1997…

But what if you aren’t an expert on anything (yet)?

I’ve chosen this next example, using my own children, to illustrate that the concepts I’m teaching you here are nothing to be afraid of, or intimidated about. In fact, they’re so simple and easy-to-implement that even a child can follow them. Like my son Oscar.

When Oscar was 10 years old he started complaining of headaches and stomachaches at school. So we took a look at his diet, took him off wheat, started him on probiotics, increased his water intake, etc.

But what was definitely unusual for a kid, was the headaches. Before the advent of wireless technology, kids just did not get headaches. And they had recently installed a WiFi network in his school.

Oscar became very concerned about this, to the point that he did not want to go to school. Dad thought he was just looking for a reason to skip school! But what I suggested to Oscar was that he stay home for a week, let his body calm down and spend the week researching electromagnetic radiation (EMR) so he could make an educated decision about his body and his exposure levels. Since Dad was so resistant, I suggested he write his research report in the form of a letter to Dad.

Oscar’s story is a prime example of how your interests, or personal journey can lead to a business idea. And how, if there’s something you need or want, and it doesn’t exist… then likely there are others who need it too and would buy it from you. So back to the story…

Oscar and I soon realized that for him to research EMR was impossible, since all the information and experiments were written for someone with a university level education. So what we ended up doing (and I lost a week of my work time!) was I sat next to him and basically ‘translated’ everything we read into 10-year-old English.

Alright, here comes the business idea: What about all the other parents and kids in the world who were concerned about the effects of this technology? The kids who were now getting headaches, or heart palpitations, or nosebleeds at school and they too were listening to their body?

Since Oscar was already taking a week off school, I saw this as an ideal opportunity to teach him how to set up his own website. His sister Zara also wanted in on the deal. I wanted them to really get a hands-on feel for the process of setting up their own site, but I also knew they would not be able to write ongoing blog posts on this topic (so I didn’t choose WordPress for them).

I chose a static website template site for them to use (GoDaddy Website Tonight) that did not require blogging. This also gave me a chance to test how a template site would fare in search engine rankings vs. a WordPress or PHP programmed site (more on this later).

Oscar used his “Dear Dad” letter as the basis for the site and the kids wrote everything in their own words. They chose the domain www.RadiationEducation.com:

I taught them how affiliate links work and how they could use them on their site to make money. Affiliate links are basically images or text that links to another site or product for sale. If a person on your site clicks that link and then purchases something, you receive a commission on the sale.

They also decided to do T-shirts; which they designed themselves. We searched for an online T-shirt service where all they had to do was upload their t-shirt designs, and the company would handle everything else; production, payment, shipping, returns and customer service inquiries. The kids would just receive a commission on every sale. We found and used Printfection in the U.S. and Wordans in Canada to handle this. I then sent their designs to my graphic designer in India to output.

In addition, I taught Oscar and Zara the value of having an opt-in offer to build a list of people’s names and emails. So they came up with an opt-in offer called Radiation Education Action Pack and they now have over 300 names on their list:

That means they have 300 people who are interested in their topic, like what they’re doing and would be open to hearing more from them. So if they upload a new, helpful video, we can email the video link to their list (more relationship building). If they find a fantastic product (for which they would receive a commission on sales) they can shoot a video demo of the product and email it along with a purchase link (and perhaps timed coupon offer, “10% off coupon, valid for 7 days”) to all 300 people.

Since the site launched, the kids have received emails from people in other countries asking to translate their material into different languages. A group in San Francisco used Oscar’s ‘Dear Dad’ letter as part of their package to lobby for a bill on mandatory SARS ratings on cell phones – which they got passed.

Here’s something else noteworthy: Since the kids launched the site (total of 2 weeks work), they have done nothing else with it, yet they earn about $200/month. Their work was all in the set up and they haven’t touched it since. They’ve agreed to receive a percentage of their monthly revenues in cash and the rest goes into their education savings account.

Sure they had me guiding them every step of the way, but they did all the actual work themselves… hmmm… sound familiar? Yes, I’ll be guiding you every step of the way, but you’ll need to do the actual work – from the emotional work, to the physical work, to the organizational work. Of course, you’ll also need to do a bit more work ongoing than my kids, because it’s likely you’ll want to earn more than $200/month!

Your Turn

So now that you’ve learned exactly how three other people turned their top talent, skill, or interest into a business (or two!), it’s your turn to do the same! Let’s go back to the process where I asked you to distill down your answers into a list of your top 3 talents, interests, or skills, or desires….

 

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Your Top 3 Talents or Interests:

1._________________

2._________________

3._________________

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NOW…For each of these three options (these are 3 things you are interested in and passionate about – and either have the skills to do something with, or are committed to developing those skills), use the space below to list out your ideas for how you could turn each of these into a new business, or use them in your current business. Don’t worry about how “good” your ideas are, or whether they’re way out there, or impractical. This is a brainstorming session! So just write down whatever comes to mind. Let your thoughts roam, brainstorm with friends, ask for dreams before you go to sleep, do whatever it is that connects you to your soul and/or a higher power. And if you have further thoughts later, maybe you do some brainstorming with a supportive, or wise person in your life, then come back and add more ideas.

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How I can turn my Top Talent #1 into a new business, or expand my existing business:

___________________________________________________________
___________________________________________________________
___________________________________________________________

How I can turn my Top Talent #2 into a new business, or expand my existing business:

___________________________________________________________
___________________________________________________________
___________________________________________________________

How I can turn my Top Talent #3 into a new business, or expand my existing business:

___________________________________________________________
___________________________________________________________
___________________________________________________________

 

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At this point, don’t worry too much about how viable your business ideas are, or fret about the details of turning these ideas into a new business, product, or service. Remember that you’re on a journey and these points are all a vital part of the process!

Is there one idea that really makes your heart sing? Or are they all exciting possibilities? Now that you have some ideas, I bet you’re wondering, “but how do I choose my best idea…and build a real business out of it?” …click to find out!

 

There’s a common mantra in the advertising world: One ad; one message. This same directive is applied to websites:

One website -> One message

Remember, analyses show you only have 3 – 6 seconds to grab your site visitor’s interest before they click away from your site. For this reason, you need to have a super clear message that instantly conveys what you are about and how your stuff can benefit the visitor – in 6 seconds flat.

Now don’t worry, you’ll definitely get a chance to better determine & express your message, but for now, you just need your three top favourite business ideas… and we’re going to narrow it down to just one.

One Thing At A Time

But how will you pick?? Remember, this is not the be all and end all, this is just the beginning!  You can always expand your website, you can always set up another website, you can always take every business idea you have and put it through the Listen To Your Freedom routine again; for each new passion or interest you have.

But to be successful, especially your first time through building an online business, you need to choose just ONE thing. Pick your top talent, or the thing you are most interested in, or passionate about, and start with that.

All your ideas may be stellar. Perhaps several of them combine into a nice roadmap for growing and expanding your business over the next 5 – 10 years. Great! But for right now, you must pick only one. Choose the best one for your current desires, circumstances, ease-of-implementation, financial situation, and listen to your gut! Your gut (intuition) knows which idea you need to start with.

Be Realistic Yet Visionary

Each of you wants to experience greater abundance and freedom. Yet each of you has your own unique set of circumstances and constraints. So, based on your personal situation, the best overall business idea may not be the best idea for you NOW.

Let me give you an example that explains clearly how to apply these principles and then use the same methods to assess your own personal situation.

Let’s pretend that 3 different people are all skilled jewelry makers, and have the same 3 business ideas to choose from. Each person has to look at their own position and circumstances to make the best decision about which business idea to run with.

So let’s say we need to choose the best business idea from these top 3 talents/ideas:

1. Start an online retail jewellery store, selling my own pieces and also others, specifically for people who love big, artsy jewellery made from natural materials.
2. Position myself as a jewellery artist, who creates one-of-a-kind commission pieces in my unique style, blending precious gems with metals, wood, hemp and leather.
3. Offer online courses and instruction, and also local workshops, in making jewellery, jewellery design, incorporating jeweled elements into art pieces and eventually, how to start and run a jewellery business.

Now here’s the list of our 3 people, each in very different situations, with different constraints and different resources:

Jessica: Is single, she is currently employed full-time and has a good-sized paycheque, she has a few thousand dollars seed capital she can use to get going, and she doesn’t have children.

Karen: Has a partner who brings in good money, but there’s not a lot left after paying bills. She has a baby and toddler at home, her kids are her top priority and her only help is her Mom, a few days per week.

Leon: Is single and is on unemployment/disability payments, because he has a chronic illness that keeps laying him up in bed for a week or two at a time. Or he simply doesn’t have the energy to work more than 4 hours per day. At the moment, he has virtually no start-up capital.

Which Biz Fits Which Person?

So which business idea would you tell each of these people to start with? Look at these factors:

• How much time do they have per day and per week to spend on their business, right now?

• In the next year or two, will they have more time available, or the same, or less?

• How much control do they need to have over their success – i.e. if their business goes crazy and orders pour in, will they be able to cope (grow rapidly and expand), or will they self-destruct?

• How much money do they have to invest in their business?

Examine the effect these starting parameters will have on how much the person can invest (hiring a professional graphic designer vs. do-it-yourself, for example) and also how much time they’ll be able to spend on developing and promoting their business vs. the likely demands of each business idea.

In my opinion, Jessica should go with Idea #1 (the online store) because a retail store requires a lot of inventory, which means money up-front. If she starts by selling other people jewellery lines, she can easily get this going during her time after work and on weekends.

Most of her work will be in the set-up and she can easily power through the intense workload because she is in good health and does not have any kids. Then, as her time allows, she can add her own pieces to her line-up.

Once her business is making good money, she can switch to part-time or flex-time with her job, or quit altogether. If her business explodes and she starts selling to retailers and high-end customers worldwide, she will have the cash (and ability to raise cash) to finance the additional capital required to stock larger inventory and hire support staff. She can also implement Ideas #2 and #3 when and if she wishes.

Karen should go with both Ideas #2 and #3 (commissioned work and instruction). Due to her time constraints, she will only be able to do a few commissioned pieces here and there – but they will also invigorate and re-energize her to the point where they may even make up for missing sleep to work on them!

She will be able to offer one-day local workshops while her Mom takes the kids and if her Mom is really capable and her husband willing to help, she may even be able to do 2-day workshops.

These two features are synergistic because they support and enhance each other. A customer will have a higher perceived value for the jewellery piece if she sees that the artist is also an instructor and mentor for other jewellery artists. And the workshop attendee will be drawn by the idea that the teacher is a professional artist who also makes money selling her jewellery as commissioned pieces, rather than just as a hobby.

This business further works for Karen because she can control and limit her customers and workshops as desired, because her children are her priority.

As her children grow up and once they are in school all day, she could then add Idea #1 to her business.

Leon should go with Idea #2 (commission pieces) and the online course aspect of Idea #3. Because he is severely restricted in both time and money, he needs to go with a business that requires minimal investment and where he can totally control the workload.

If he charges a 50% deposit to begin work on a piece, this will cover all his material costs, so he will not have to fund anything himself. He can also focus on visually-based promotion methods like Pinterest, which require only minutes to implement.

At his own time and pace, he can slowly put together an online instruction course on jewellery making using videos and eBook instruction manuals. He will then have a revenue source that is not tied to his time or presence.

As he has time to blog, he can also add Amazon affiliate links to his blog posts for his jewellery tools, supplies, products, etc. which also take only minutes to implement, but can generate ongoing automated revenue.

If and when his health improves, he can add the other component of Idea #3 (live workshops) to his business and eventually, if he wishes, Idea #1 (the online store selling other jewellery lines).

So here’s a quick look at which business idea best suits each person’s unique circumstances for right now, and how they can grow their business over time:

Here’s another round of the same thing, but this time all three people are already running their own blogs or businesses based around a shared love of outdoor, wilderness and back country exploration. This will give you an idea of how to expand or change your business and/or website after it’s established, in order to suit your new needs or dreams.

 

So. Each of our 3 business owners need to choose the best business idea from these top 3 talents/ideas:

1. Start an online retail outdoor gear store, selling my company’s products and also some other select brands, for people who enjoy multi-day backpacking treks and back-country solo sports.

1. Write a memoir about my backpacking adventures, and sell it online.

1. Offer online courses and instruction in wilderness survival and back-country preparedness, as well as offering local workshops for beginners to learn about exploring the back-country safely.

Now here’s the list of our 3 hypothetical people, each in very different situations, with different constraints and different resources:

James: Already owns and operates a small local retail business that manufactures his innovative tent design and also sells top-quality outdoor gear. He loves what he does but is getting tired and wants to increase his revenues so he can afford to spend more time with his kids. He’d also like to use that breathing room to set up some automated income related to his business and passion.

Celine: Works part-time to allow for hiking and camping trips, and maintains a blog about her adventures. She’s a mom of two, has a partner making a good salary, and she has a little spare time and some seed money saved away that she’s willing to invest in her own business.

Paula: Has a basic website featuring herself as a back-country guide or consultant for hire. She currently has a regular client who contracts her to be the back-country guide at a wilderness lodge for half the year. She runs her business so that she makes enough to get through the other six months, but has no capital left over. She has no kids or partner and lots of spare time, but after a few injuries she’s realizing she won’t be able to run her guiding business forever. She’s a fantastic photographer, and has a huge collection of original shots from years spent in the bush, just sitting around on flash drives.

Which Biz Idea Fits Which Person?

Remember the factors we need to look at:

• How much time do they have per day and per week to spend on their business, right now?

• In the next year or two, will they have more time available, or the same, or less?

• How much control do they need to have over their success – i.e. if their business goes crazy and orders pour in, will they be able to cope (grow rapidly and expand), or will they self-destruct?

• How much money do they have to invest in their business?

In my opinion, James should go with Idea #1 (creating an online component to his retail store), because he has the capital and the inventory, as well as the supplier contacts and business know-how, to run an online store.

Most of his work will be in the set up, which he can either do during slow times at the shop, or, outsource the website design and programming, and use his time to delegate and oversee the building of his website.

Once the online store is making good money, he can hire employees at his storefront and switch to a part-time management role, while he keeps an eye on the site from home. If his business takes off and he starts selling to retailers and customers worldwide, he’ll have the cash (and earning ability) to finance a larger inventory and hire more support staff.

People with existing retail businesses may underestimate the sales growth that can come from simply launching an online version of their existing store. But if you already have a physical, retail business, you are primely positioned to add an online store with very little extra hassle. Think about it: You already know what sells, you have relationships and payment terms with manufacturers and distributors already set up, you already have warehouse or storage space for products and you likely already have a relationship with your bank for a loan or line of credit.

 

Let me give you an example: My cousin and his biz partner own a physical retail pharmacy in Covent Garden in London – a prime retail location – and they were already generating over $2 million/year in revenue from the physical store; which also has a spa (nails, facials, waxing, etc.) and a special section for high end cosmetics and perfumes.

When they launched the online version of The Garden Pharmacy, their sales doubled within a year. But the really amazing thing they discovered is that many of their local customers – who literally lived with 5 minutes walk of the pharmacy – preferred to order online because it was easier! And you know what happens when you make things easier for people… they buy more frequently.

Of course, with such a rapid increase in sales, my cousin had to find additional warehouse space and also hire more staff to fulfil orders – but again, not a big deal when you have cash flow pouring in! But if you don’t have that kind of cash available, outsourcing warehousing and order fulfilment is a great way to set yourself up so that you can grow as big and as fast as the market allows, with no extra work or hassle for you!

So getting back to James and his outdoor gear store: After he’s launched the online version of his existing retail store, when he feels he’s ready, he can step aside even more and create more time and space to implement ideas #2 (writing a book) and #3 (creating and teaching courses and workshops) if he likes. Since his outdoor gear store is well-known at this point, he will have a large email list of opt-ins and customers, who already appreciate his dedication and expertise, and who will be interested in his books and courses.

At this point, he could easily step back from the front lines and manage his automated income from book sales, online programs, and his online store (or any combination of the above) with a minimal amount of work hours from the convenience of his laptop.

Of course, if his online store does really well, and he wants to reduce his work load and hassle factor even more, then he could close down his physical retail store (removes the overhead of rent and the hassle of staff), use a contract manufacturer to produce his tent, outsource all his product warehousing and fulfillment, outsource his online ordering and customer service and then just handle the money and oversee things from his computer. Once everything is set up and running smoothly, he shouldn’t need to spend more than 5 – 10 hours a week just to keep things rolling.

This is the business model we use for our online health store. We sell over 350 products on our website and we have outsourced every component, so that we can go to Hawaii for a month or two with no disruption whatsoever to our business or revenue.

Now let’s take a look at Celine; who works part-time to allow for hiking and camping trips, and maintains a blog about her adventures. She’s a mom of two, has a partner making a good salary, she has a little spare time and some seed money saved away that she’s willing to invest in her own business.

Celine could start with Idea #2, writing a book. Since she’s been blogging all this time, she already has most of the material needed for a book! She can use her free time to compile her posts, add to them wherever needed, and format her book into a self-published eBook and/or physical book, which she can then sell on her existing site, using LTYF tools to increase traffic to her blog.

Idea #3 (online and local courses and workshops) would also be easy to implement on her existing blog site, especially as her book starts to take off and people who want to get into back-country exploration start asking her for advice. She can shift the focus of her hiking and offer some of that time to small local groups who want to learn about wilderness survival, gear preparation, or who just want a mentor until they feel confident to hike by themselves.

She could even add Idea #1 (online retail store), but instead of going to the trouble of manufacturing, warehousing and shipping products, she could create an online affiliate store, where she collects affiliate cash from sales made through her website.  She can use her blog to review and recommend products from her own personal experience, and receive 40 – 60 percent commission on any sale made through her website.

This way, she can even score some great equipment from companies who’d like her to review their products – once she’s gathered a large enough email list and positioned herself as a trusted expert in the field. That way she’ll never need to put down capital on her store – unless, once she’s established, she wants to go ahead and start manufacturing her own brand, or retailing other brands!

These features are synergistic because they support and enhance each other. A customer will be more likely to trust her judgment and recommendations of products if he sees that Celine is not only a down-to-earth, nature-loving backpacker like him, but also also an instructor and mentor who uses the same gear in the back-country that she’s selling on her site.

Being a published author greatly increases her credibility, and her workshop participants will certainly be interested in reading her book. They will also be drawn in by the fact that she is a notable outdoor gear expert with years of in-the-field experience, as seen on her blog.

This business further works for Celine because she can control and limit her in-person workshops as desired, and be virtually hands-off on her affiliate store, because her children are her priority.

But remember, the LTYF directive is to start with just one thing. So in Celine’s case, she would start with the book or eBook. And her site would focus on that – she would base this first pass through LTYF on that ONE business idea and get it up and running. As she becomes fluent with the LTYF tools and process, she can add in the other parts of her overall plan.

Now let’s check in with Paula. Remember, Paula contracts her services (featured on her basic website) as a back-country guide at a wilderness lodge for half the year. She runs her business so that she makes enough to get through the other six months, but has no capital left over. She has no kids or partner and lots of spare time, but after a few injuries she’s realizing she won’t be able to run her guiding business forever. She’s a fantastic photographer, and has a huge collection of original shots from years spent in the bush, just sitting around on flash drives.

Paula should go with Idea #3 (online courses and in-person workshops) first. Because she has six months off every year, she has plenty of time to create content to offer online, teach classes or workshops in person, and take beginner groups out for short hikes to learn the ropes of back-country exploration. If she wants to limit all heavy physical activity to give her injuries time to heal, she can focus on the online aspect, as well as more technical or theory-based workshops.

This is the best idea for her because it’s a natural extension of what she’s already so good at, and loves doing, but is less pressure on her body and has more potential to generate income. She also already has all the photos she’ll need to illustrate her courses and what she’s teaching! And if she needs live, action video for her courses, then she can shoot it during her guide trips, or during her 6 months off.

Here’s something else to keep in mind: Paula’s online course could also appeal to the back-country version of the “armchair traveler”. Many people purchase travel books, guides and videos with no intention of ever leaving home! Think of National Geographic magazine; the opportunity to live vicariously through the guide or adventurer is enough.

Maybe Paula will discover a huge market for her courses in Germany – of people who dream of someday visiting the wilderness of North America, but for now, this is the closest they can get to actually experiencing it. Or maybe she will also produce a course on wilderness survival and appeal to off-the-grid groups and survivalists. NOTE: She would want to do some keyword research to make sure these groups can find her site.

And if Paula chooses to do another season or two of guiding, the online courses can still generate extra automated income while she’s away.

Paula also has time to blog – and she has a ton of great stories and photos from her guiding business.  She can add Amazon affiliate links to her posts for all her favourite gear and tools, and/or set up an affiliate shop like Celine, all of which generate ongoing automated revenue.

In her own time, she can collect her stories and pictures together into a beautiful coffee-table book and sell that on her site as well (Idea #2). And if it comes time to quit guiding all together, with the capital she’s generated over time with these different ventures, maybe she wants to implement Idea #1, and start building her own brand of gear to retail online.

But again, you see how Paula needs to choose just ONE of the ideas based on her top talent, and start just with that one thing first? So she would use the rest of the LTYF program to get her first online course produced and available for sale on her website – while building an email list of people interested in back-country exploring.

Okay, that’s a lot of information! So let’s pull it all together into an easy chart. Here’s a quick look at which business idea best suits each person’s unique circumstances for right now, and how they can grow their business over time:

Ready to figure out what your final idea (for this moment in time) is going to be?

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Write down your top 3 business ideas (if you don’t have any yet, go generate some!):

1.____________________

2.____________________

3.____________________

Now based on the detailed examples above and the parameters we ran the ideas through, which of your business ideas do you feel would be the best one for you to start with? Ask yourself these questions (and write down your answers!):

How much time do you have per day and per week to spend on your business, right now?

In the next year or two, will you have more time available, or the same, or less?

How much control do you need to have over your success – i.e. if your business goes crazy and orders pour in, will you be able to cope (grow rapidly and expand), or will you self-destruct due to family demands or illness? Plan accordingly:

How much money do you have to invest in your business?

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Consult Your Critics and Encouragers

If you’re still not sure what you should do, go back to the wise people in your life. Choose a mix of people who are supportive and people who are more critically-minded, as they will help find the holes in your ideas.

Present all three ideas to each of these people and ask them which one they think is the best of the lot? Which one do they think ‘fits’ you the best? And which one do they think is the best business venture for you at this time?

After you’ve brainstormed all three ideas further with these helpful people, you’ll likely have a better idea of which one you want to implement; or implement first.

So do that now: go back to your list of your top three business ideas and pick one of them. Pick the one where you feel a “click” in your gut when you ponder it.

Pick the one that realistically is most likely to meet your current needs and provide a launch pad for you.

Pick the one that is easiest to launch and just get started.

Pick the one that motivates you the most.
 Pick the one you love the most.
Pick the one that makes your heart sing the loudest.

And write it down. Don’t worry, you can come back and improve on this idea if you get more inspiration after listening to the Audio and watching the videos in the next few units.

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My Best Business Idea For Right Now:

________________________________

WHY:

________________________________

________________________________

________________________________

________________________________

 

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Need a little more to go on? Here’s a good overview of common questions and dilemmas faced by people trying to choose which business idea to go with.

In the audio for this module, I dispel common business myths and share some of the most effective tips and strategies I’ve found that work really well in choosing the best idea to launch – by listening to your freedom, instead of your fear.

• Learn why going by the books and adhering to age-old business wisdom isn’t always the best way to go.
• Explore creative ideas to generate funding or investment for projects you don’t actually have the capital for
• Get inspired by real-life stories of unconventional (and successful!) approaches to business

And much more!

Click here to download the audio (right-click and Save As): Choosing Your Best Idea

Or click PLAY to listen:

Audio Follow-Up

At around 6:40, I reference defining who your ideal customer is – you can learn more about the basics of this process, or you can jump to an energetic way to connect with potential customers.

At 8:30 we talk about ideas for financing – we’ve got lots more about creative, out-of-the-box ways to use your credit cards to finance your business, secure loans from family or friends, get a bank or investor to back your idea, or even crowdfunding for your new business or product.

17:00 – LTYF forum – edit out

And if you still need more for your brain to chew on, why don’t you spend some time checking out your “competition” and defining your own special niche?