Venn-Diagram-Skill-Pleasure-Value3 Things You Should Consider When Starting a Business

When I left my job and started this business, my business coach asked me three questions.

They were questions that I really had never given much thought to.

 

But when I had no choice but to think about them I realized how important this was going to be in figuring out what I wanted to do.

What’s interesting about these questions is that the answer is never final.

 

A business is a very different thing to a hobby.

You may like to do something but if there’s no market for it, you will either have to create the market or leave that idea alone.

 

Now for the more adventurous of us out there – creating a market for a business is a challenge they are up for.

But for the person who just left their job of over 25 years is probably NOT looking to start that kind of business.

Now the challenge with anyone leaving a job after 25 years is that they are still in the job mentality.

So as a coach you will have to start where they are at.

 

They are in a place where they know their skills.

So that leads me to the first question you should ask yourself when starting a business.

1. What are your skills?

What are you good at?

What do you find natural to do?

I had many answers to this question.

Writing was one answer.

Then there was analysis.

Then there was problem solving; when led to process improvement…….

 

So you’re getting the picture that we’re not looking for just one answer.

We’re looking for your TRUE skill set.

Not the crap you put on your resume or job application.

We’re talking REAL skills.

 

The second question was even more challenging than the first

2. What Are You Passionate About?

He had my brain spinning.

What I am passionate about?

What does that mean anyway?

Well as the diagram above shows it’s really what you like to do. What you get pleasure out of doing.

Again here my coach really wanted me to dig deep and think about what I LIKE to do, not what I’m good at.

When you’re a in a job mindset sometimes you can mix the two up.

I like to write but I am good at it?

And then that opens door for the next questions

 

3. What Does the Market Want? Or What Can Make Money?

This is the value part.

You will notice on the Venn Diagram that there are places where you will see that you’re either wishing a dream

or you just have a hobby.

When you add the market value to your skills and your passion you have what is called

The Winning Business Formula!

You’ve hit the jack pot when you can answer these questions with clarity.

 

Now you’re not going to have the answers today, or tomorrow, or even next week!

But the more you think about the answers to these questions to closer you will come to having the answer to the main question

What should I go into business to do?

Did you go through a similar process when starting your business? I’d love to hear your experience.

 

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I’m Hilary De Freitas
Online Marketer, Operational Nerd and Mom
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Hilary
Hilary

Hilary De Freitas is a wife, mother, engineer and marketer. She is dedicated to helping mothers build a successful online business so that they don't have to choose between career and family. Hilary has been involved in network marketing, affiliate marketing and digital marketing consulting for the past 10 years.

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    4 replies to "3 Things You Should Consider When Starting a Business"

    • Ruthanne

      Your three points are super! When I started my business, I only thought about what I was passionate about, and didn’t realize I even needed skills! (Makes me cringe, just saying that, but it’s true.)

      Looking back, I realize that’s such a naive viewpoint… but it’s something a lot of people don’t give much thought to when starting a business, especially network marketers.

      • Hilary

        Very true Ruth. Even if you love to do something but got to have skills! If you don’t have them, then you know you have to either learn or find something else. From what I’ve learned in my very short years on this goodly earth is that no one is ever passionate about only ONE thing! So they will have options.

    • Jeff Beeman

      Critical questions that need to be asked, answered and reviewed as you grow your business.

      For me the biggest one has been … hat are you passionate about? Why waste time and money on a business you really don’t have any interest in except just trying to make money. Build on what you love and the money will follow.

      • Hilary

        So True Jeff. I think for most people they think it’s too hard to make money from what they love. But I believe it’s the only way. And if you do what you love you’ll find a way for it to help you eat!

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