Do this one simple thing to make sure you pick the perfect market (and a warning)...
Back in the day, I started a little business and ran it for a few years.
At first it was fun...
Then one day, I woke up to a backlog of orders and realized I was working in the wrong market for the wrong people with the wrong business model.
No amount of effort was going to make this thing work for me.
It was fundamentally flawed.
In hindsight, I realize that I made my decision to start that business during a short flight to the Midwest without thinking about what it would really be like...
The numbers looked great...what could go wrong?
Not my smartest moment. ;)
I never took the time to imagine how things would be when it was really successful.
And I didn't think deeply about the people I'd be working with, the environment I'd be working in, how I would serve these people, or the amount of money needed to make it all worthwhile.
A life lesson learned...
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“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know it when you find it.”
- Steve Jobs
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Starting a business without thinking about what you want can turn into a nightmare.
Been there, done that.
Not proud of it.
Asking good questions and writing down your thoughts prevents so many mistakes...
Something happens when your thoughts become written words...
I like how Doug Hall describes this:
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"I will be pushing you to commit your thoughts to paper. If you're like most adults, you'll resist this, claiming you're not a writer, an author, or a copywriter.
You don't have to be.
I'm not asking you to write like Hemingway or even Stephen King. All you need to do is document on paper the thoughts you think and speak associated with your business.
Writing is a process for organizing your thinking. When we give words to our ideas, they become real. You can think of writing or typing as a prototype marketing system. When you write an idea, the strengths shine through and the holes become glaringly obvious."
- Doug Hall
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Even if you already have a business you're happy with, you'll benefit from this process...
It strengthens your why-power:
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"The power of your why is what gets you to stick through the grueling, mundane, and laborious. All the hows will be meaningless until your whys are powerful enough."
- Darren Hardy
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Looking at what you wrote down will either strengthen your conviction or reveal that an assumption you made while planning is false, which will allow you to pivot sooner rather than later.
As I was thinking about all this, I came to the conclusion that 1) everyone can benefit from clarity in this area and 2) the best time to start is now, not later.
If you want specific help in thinking through all the aspects of your future business, so you pick the right market, we cover this in detail in the D.R.E.A.M. Business Course.
Click here to learn more...
The most important thing is to write down all your thoughts about what you are looking for in a particular business.
Think to the end...when it becomes wildly successful.
What aspects would you love?
What aspects would you hate (and need to avoid)?
What kind of people would you love working with?
What kind of environments would bring out your best skills and personality?
If you have questions or want to share your "aha moments", I'd sure love to hear from you.
Just comment below...
I'll read and respond to every reply personally.
If you're just starting out, writing down your thoughts about what a good market looks like to you is going to give you a lot of clarity and prevent future mistakes.
If you already have a successful business, this process is going to strengthen your why-power or reveal the need to pivot.
It's a win-win either way...
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