Business Ideas For Teachers-Finding Your Business Idea Today!
I get asked by teachers, educators all the time saying, “I know I want to quit teaching, start a business, but what do I start it in?” Teachers make excellent entreprepreneurs, so this is great news. But first, let’s look at why picking the right business idea is so important.
Did you know that the number one reason small businesses fail is due to there’s no market need for their business? I don’t want you to be one of them! So, in this blog you’re going to learn how to narrow down what market to start your business in so you can hit the ground running and start generating revenue fast so you can transition out of teaching sooner rather than later!
First Step When Wanting to Quit Teaching
The first step when looking to get out of teaching is start by asking yourself one simple question. Are you better suited to be an employee or an entrepreneur? I show you exactly how to find out in this video, so if you’re unsure if you want a boss, or you want to be your own boss, do check out this video now!
What Is A Business Niche?
You’ve heard the term, “Jack of all trades, master of none”, right? It essentially means that a generalist can do everything decently, while a specialist does one thing extremely well. The same holds true when you’re an online business owner. This means you need to figure out what’s your niche. Niche, niche, either way they mean the same thing. Picking your business idea in a specific niche simply means that your products and services appeal to a small, specialized section of the population.
Carving out a niche market and positioning yourself as the go-to brand for a specific audience not only establishes your credibility over competing generalists but also results in a more focused business. From your unique value proposition to your content marketing efforts, focusing on a niche market makes it easier for the right customers to say, “This is for me.”.
The Second Step To Picking The Best Business Ideas For Teachers
You want to start a business, but the thing that's holding you back is the market niche you know you need to choose. You could list all of your interests and passions and still come away feeling as if you haven't hit upon the singular thing you were meant to do. This is why it’s important to look at what your big umbrella options are. Let’s start with the big picture first. There’s 4 markets that most businesses fall into.
These business markets are called Mega Markets, because they’re huge--they’re MEGA BIG!
What Are the 4 Mega-Markets?
The 4 Mega-Markets are:
Do you see how these are huge markets? You can start a business in one these markets, but they’re very broad and are already really saturated with millions of businesses. You’ll have so much competition, it will be hard to stand out in this noisy crowd!
Side note: What is so important to mention though, is to find the best business idea for teachers, doesn’t mean it needs to be in education. Just because you’ve always been a teacher, doesn’t mean you need to pick your business idea in the field of education and teaching. Just wanted to mention that because it’s so important to think of what you want to be doing for the next 10 years, not just what you’ve always known.
Finding Your Business Idea As A Teacher
If you’re racking your brain trying to think of your first product or service idea, coming up with a specific niche is a great place to begin. There are countless profitable niches you can pursue, with the opportunity to niche down even further. The key is to identify a niche market you can master and that has a viable audience of customers.
There’s a marketing saying that goes like this, Your business goes too broad you go broke. Instead, the riches are in the niches!
Meaning, it will be easier to find your potential customers if you niche, and your story and experiences will be more relatable to people in your niche versus the masses.
An Example to Help You Find Your Business Idea As A Teacher
Let me give you an example with my own business, Rewrite Your Future. I knew after my third company that I wanted to start another business. So, I asked myself the first question you should ask yourself, 1. What do I have experience in and could provide value by teaching/helping others? Well, I sure had done a lot of learning about business and marketing over the 17 years I’ve been an entrepreneur. And, then I asked myself the second question, 2. Do I have gifts, skills and talents in this mega market? of Career/Making Money? Yup, sure did and I enjoyed business coaching people too. Then I asked myself the next question, 3. Where do I already have relationships? Again, same mega market-Career/Making Money.
And, then the last question, 4. Which group of people do I have compassion for and would want to help? That was easy, educators! As a former teacher and a teacher coach and writing coach for years, I know teachers and what they go through and I love being a business coach to them. So, there you have it!
The Freebie To Get That Will Help You Find Your Business Idea As A Teacher
That’s the process I used to find my business idea and you can too! So, to help you find your business idea and which mega market you can niche in, l’ve created a freebie using those same questions I asked myself, but you’re going to put the question’s number in either a mega market or sub niche. Then, at the end of answering all 5 questions, you’ll see where you have the greatest amount of numbers. This is the area you should focus your business in!
Use the purple box above or below to fill out your info and the Mega-Market & Sub-Niche Venn Diagram will be instantly sent to your inbox so you can start getting your business idea clarified!
I would love to know, do you want to be a generalist and be in a mega market, or become a specialist and sub niche? Let me know in the comments below! And, if you want more help on how to micro niche down even further, I go into more detail in this video so do check it out here.
Remember, you can rewrite your future, and I can help!
p.s.-don’t forget to get your Mega-Market & Sub-Niche Venn Diagram below!
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