If you search for “business ideas” on Google, you'll quickly become overwhelmed and confused by the countless random suggestions that pop up. While some ideas may be exciting, you may be missing the most obvious and easiest way to generate revenue as an entrepreneur.
Become a professional service provider based on the skills you already have.
Do you think it can't be done? Think again. Because if you have excelled at and enjoyed work-related tasks in the past, you can sell your services to organizations and individuals.
By following this process, you can avoid many of the risks associated with starting a business. You can avoid impostor syndrome by doing what you know you're good at. I also know that there is a market for my services because I have been paid for them in the past.
So, stop looking to outsiders for business ideas. Everything you need to start a business is already within you. Here's a three-step process to get started.
Decide your genius zone
It's time to get paid. The first step is to determine your genius zone. This is a task that you feel uniquely qualified to perform and enjoy.This term comes from a book big leap Written by Gay Hendrix, I'll walk you through the process of finding yours now.
Start by understanding the basics of the different competency areas.
Incompetent: You're not good at these things and you don't want to be.
ability: You can perform these tasks, and so can others
excellence: You can perform these activities very well, but in some cases, you may not get as much reward as you would like.
genius: These are activities that you enjoy and want to continue developing. You can talk for hours and never get bored. This is the service we provide to our customers.
Next, open this spreadsheet. In column E, write down all the organizations you have worked for. Once you've done that, write down all the major tasks and activities you performed in each organization in column F. This also includes the tools and processes associated with each role, and most of this information will likely be available from your resume or LinkedIn profile. .
Then assign all these tasks and activities to different competency zones. You need to be very honest with yourself here. In most cases, the Zone of Genius will have a few activities, the Zone of Excellence will have a few more activities, and the remaining zones will need more activities.
You can see an example worksheet below.
Based on the example above, this person could be a consultant who helps organizations plan Facebook advertising campaigns. Next, we'll discuss potential service offerings in detail.
Related: 5 Steps to How (Almost) Anyone Can Connect with You on LinkedIn
Decide on specific services to sell
Now that you've identified the skills you want to monetize, it's time to create services based on these skills. We created the ACTION Business Ideation Model to help you quickly decide what services you want to offer.
These can be scary when you're talking about taxes, but they can be very beneficial when you provide them as a service to organizations or individuals. This is a step-by-step approach to use to analyze a company or process based on your genius zone. The main goal here is to identify areas or opportunities for improvement.
Need help creating an audit? Check out this step-by-step video I created.
This includes providing opinions, analysis, and recommendations to organizations and individuals based on your expertise. Fortunately, you can use the same process you already created for auditing.
We help individuals or organizations develop the specific skills they need to perform their jobs. This is different from consulting, but somewhat related. Perhaps during an audit or consulting, you realized you need to start leveraging new processes, but you don't know how right now. That's where we provide training.
Here, we help our clients implement the tools and teams they need to achieve their goals. This may include introducing new tools or choosing the right vendors to partner with.
This is one of my favorite ways to make money. Along with our retainers, we will continue to provide advice and services based on our areas of expertise. But maybe you don't have a specific project you're working on. You are simply there to answer questions whenever they arise. We highly recommend offering a retainer at the end of the project so that you can continue to generate revenue from your client.
By design, this is the most flexible part of the model. What ideas can you come up with based on your organization, its goals, and creative ways to help achieve the desired results?
Here is an example. I am creating educational videos focused on entrepreneurship for one of my business partners. But I recently pitched them on a new opportunity to launch an accountability program for all program participants.This is consistent with my previous work and They embraced the idea because it was their mission.
This is the ACTION business idea model. You can choose one or all of these, but we highly recommend providing an audit as it establishes a baseline for all other service offerings.
Now let's talk about promoting your business.
real estate: How effective entrepreneurship requires networking
Ask your network to spread the word about your business
I've interviewed hundreds of people. entrepreneurs and 90% of their first customers came from their network. So before you start posting posts on social media begging for help from strangers, start with the people who already know, like, and trust you.
Think of 10 to 20 people you know who will spread the word about your new business. This includes former colleagues, friends, and relatives. Ideally, these individuals will have access to relevant networks. This means they may know people or organizations that could use your services.
Next, you will reach out to them and ask for help. First, let's introduce the template.
I pray for your safety.
I am contacting you to let you know that I have started a new business. I hope you can help spread the word.
In short, I help (the target audience) (take this action) so that they (achieve a specific result).
Do you know someone or a company who might be interested in this service? If so, please refer us or forward this email.
Thank you for your cooperation!
This message can be sent via email or messaging, whichever method is most appropriate based on your relationship.
Entrepreneurship can be challenging, but it doesn't have to be confusing. By following this process, you can make money, save time, and avoid burnout.
If you don't get any leads within the first 7 days, we recommend reaching out to more people in your network using the same message. Stick to this as this is the most likely to get you your first client.
If you want to help your business grow, consider joining the Smart Passive Income Pro community. Get the courses, guidance, and accountability you need to grow your business and avoid common pitfalls.
In any case, I wish you all the best. If you have any questions, feel free to reach out to us on LinkedIn or Instagram.