Whether you desire to earn an extra thousand or multiple thousands every month, entrepreneurship can be as easy as finding something that you are passionate about, determining if it’s sellable, and then learning the marketing and sales skills that you’ll need to make it work.
A lot of the tips below are great if you are just starting a business, and if you want to make some money on the side.
AND, even if you are more established, there are still several ideas here that will support you as you create a new offering in your business, or if you decide to open up a new aspect of your work as an entrepreneur.
Step 1:
Find what you are passionate about, and determine if aspects of those passions are “sellable.”
It’s likely that you are a multi-passionate human being, and you love all kinds of activities.You may enjoy painting watercolors, riding horses, and traveling. Or you might love mountain climbing, fingernail artwork, and nutrition.
Take a moment to write out a list of the things you are most passionate about, and then take a look at each one. There may be an aspect of some of those interests that you could make money from.
For example, if you love animals, you could create a pet-sitting company. If you are trained in a skill that you don’t currently use in your life (maybe you have a certification in nutrition, aromatherapy, or some kind of physical activity), this could be a great time to start making money from that skill, even if it’s just part-time.
Not all of your passions will be sellable, and that’s completely fine. Your job right now is simply to notice which of your interests could be transformed into products or services that will be helpful and highly valued by the people who could purchase them.
Step 2:
Get clear on what exactly you will have for sale in your business.
Some entrepreneurs sell their time and guidance, such as those who work as relationship counselors or marketing mentors. You can also teach or train clients around a topic that you are passionate about. (Maybe people can come learn bookbinding from you. Or perhaps you have a background that allows you to start an ongoing group that focuses on healthy ways to balance hormones.)
Alternatively, some entrepreneurs will sell a product that they’ve created, like a book, training program, or software, which are all products that can easily be duplicated and resold many times. Other entrepreneurs will create food products, like wedding cakes or catering spreads. Some people will choose to make unique artwork to sell through Etsy, or through local art shops.
Step 3:
Do some research to see if people need your service or product, and if they are willing to pay for it.
It’s time to have conversations to determine if the public will find your business idea helpful. Start telling people about your new business (or a new product or service), and tell them about how you see it helping customers. Go to networking events and talk about the service or product that you have for sale.
Notice how people respond to you when you talk about what your business provides.
Are people confused about what you sell? If so, you may need to make your explanation more clear.
Are people excited by your ideas? Do they tell you that they can’t wait to tell their friends about you? If so, this is great news!
Or do they just say “that’s cool,” and then shrug you off? If this happens, you either don’t have a very compelling idea yet, or the person you’re speaking to isn’t the right kind of person to be talking to. If so, keep networking.
You can ask friends, family, and strangers, if they know anyone who would find _____(whatever it is that you’re thinking of selling)__ valuable. This will give you a sense of whether or not a business could find customers.
*A word of caution* Some people may not be supportive of you personally, or they may not be open to you being an entrepreneur. Try to only ask people who have positive energy, and don’t get discouraged if someone seems to be attacking your idea. If they say something like, “I don’t think you should go into business for yourself – it’s risky” – that is simply their own personal fear that they are trying to impose on you. If you sense a great amount of unhelpful negativity, move on and talk with another person.
Step 4:
Ask people if your service or product would be helpful for them. If they say “yes,” ask them to buy it.
While you’re out telling your community about your business, and paying attention to their responses, you might also have someone tell you that your product or service is exactly what they are looking for. If this happens, you can ask them if they’re interested in purchasing it.
This becomes a sales opportunity, which is simply a human conversation where you determine if you can help someone with a problem or a need that they have. If someone feels that your service or product will be helpful for them, you can ask them to buy it, and exchange money. Or, if a person doesn’t seem like the right match for what you have for sale, you can ask them if they know of anyone else who might benefit from your service or product.
Step 5:
Make your business real with all of the required legal structures, and a marketing plan.
If you’re serious about having a full-time business, or even just making some extra money on the side, get all of your legal business structures in place so that you will officially be in business. Connect with an accountant and attorney, and set up all of the required licenses in your place of business.
At this point, you’ll also need to begin getting clear about your marketing plan, so that you can map out how you will connect with your future clients. Some entrepreneurs enjoy connecting with potential clients through live networking, while other entrepreneurs prefer to market online, possibly through a series of promotional videos/interviews/articles, which can all be shared through social media, and other channels on the internet.
If you’d like my help creating your marketing plan, I’d love to invite you to apply for a complimentary “Making Money Feels Like Bliss” consultations. To learn more and to apply for one of these sessions, just click here.
© 2016 Ava Waits
Ava Waits is an inspirational speaker, business mentor, sales trainer, and author of the forthcoming book, A Woman‘sTreasure: Grow A Business Where Making Money Feels Like Bliss. She believes that making money should feel like bliss, and through her work, she provides innovative sales and marketing guidance to entrepreneurs and companies worldwide.
As a speaker, Ava has been interviewed on television and radio, and has been invited around the country to inspire and train audiences at business events, women’s organizations, and financial companies. She has presented at Rick Steves Europe, United Way, the Women’s Day of Empowerment, Mother Earth News, the National Association of Professional Mortgage Women, and many others.
Find out more about Ava at www.AvaWaits.com.
