Are you ready to start a business, but you just aren’t sure what you would do? This is one of the most asked questions I get from teachers all over the world--where do I even start? Teachers who, probably like you, want to leave teaching to have more freedom - what I call the 5 Freedoms of Life: Time freedom, location freedom, people freedom, financial freedom, and purpose freedom.
If you’re a teacher wanting more freedom, well my friend, following the breadcrumb clues will lead you to your business idea!
Hey Educators, I’m Suzanne Klein, and welcome to my 5 Freedoms Life! I’m now a business coach for teachers, but I used to be an elementary teacher, and using the teaching skills we all have as teachers, I grew my 2nd company to $10 million, I sold that company 10 years later, and I’m now teaching you how to do it too!
This blog is the third part of my free series, “Business Idea Creation 101” wherein each video I tell you one myth, one truth--the breadcrumb, and one solution to help you find your business idea.
If you didn’t read part 1, or part 2, don’t worry, as you can always go back and read them after this one.
Why are business ideas so hard to recognize?
This is the question, isn’t it so? Why is it that you can know that you want to start a business — but have a heck of a time figuring out what that business actually is?
This is where the myth comes in.
So, let’s tackle that first so you know exactly what the culprit is that’s blocking you from coming up with that great business idea that’s already inside you, you just need help pulling it out!
Myth #3: There are already people doing what you want to do so it must not be a good business idea.
I hear this all the time from my teachers, “I want to do ______, but there are already so many people doing it already.” Yes, this is true. With 9 billion people on the planet, there’s bound to be hundreds of thousands of people in the same space, or niche that you have an interest in.
Take me for example. I’m a business coach. Do you think I’m the only business coach out there? Of course not, I would be a fool to think so! Did I say to myself, well I guess I’m not going to be a business coach, it’s an already saturated market of business coaches? Of course, I didn’t say that! I wouldn't be here talking to you, and I sure wouldn’t be able to help teachers all over the world who feel stuck and want more.
So, what to do when there are already so many business coaches? I niched down to be a business coach for just one group of people, educators/teachers. Now, I’m not going to be talking about niching down in this blog. But, I do already have a blog on this subject. You can check it out here.
The point of this blog is to teach you that yes, there’s always going to be people doing what you want to do, but that shouldn’t stop you, if anything you can benefit from the people that have come before you! Stay tuned as I’ll show you how.
Truth #3: You Will Always Create A Business That’s Different Than Someone Else
This is the breadcrumb clue. Think about it for a minute...is there anyone else just like you, having the same experiences as you’ve had, solved problems the same way you have, done exactly the same things you’ve done? No, it’s impossible, right? Going back to me, I’m a business coach. Do you believe that there’s anyone else that has shared the exact same experience as me...being an elementary teacher, leaving teaching to start my writing company, selling 10 million, and selling the company 10 years later? Is there anyone else that has this exact same story?
So, I’m always going to be teaching business in a different way than any other business coach out there, as they also teach in their own unique way.
Let me give you an example from one of my own coaching clients. Sara’s a middle-aged special ed teacher who wants to leave teaching through her online business. She knows she’s good at coaching and loves it, as she’s been told numerous times by friends (which side note- compliments people have given you is one of the breadcrumbs to finding your business idea, and I go into detail on how to do this in Part 1, so go check it out here when you’re done).
Sara empowered her friends to leave situations behind that are dragging them down--marriages, jobs, habits, thinking, weight gain, all of that. She wants to use her tools that she’s developed over the years that have helped her, to help other women.
When she came to me, she was worried that there’s already a lot of “life coaches” out there, so why bother, there are already too many people doing what she wants to do, and she said, “Why would anyone want my help when they can go to someone who’s been doing it a lot longer or has a special degree?” Oh, can you say Imposter Syndrome?!?
But anyway, after we got over that, I asked her, “Has anyone gone through exactly what you have, developed the tools you’ve used to help yourself, done what you’ve done?” Of course not, right?
So, next is the solution I had her use to see that she does have a viable business idea in her, she just needs to do some research to narrow it down.
This leads me to…
Solution #3: What Would Your Future Clients Google To Find You?
Your business success hinges on taking something that already exists in some form or another and then adding your own spin and style to make it even better.
So, how do you find this already existing market solution and put your own spin and style on it?
Easy. When you think about how to find inspiration, look to an unlikely source — Your would-be competition! What we call in the business world, Competitive Analysis.
I’m not going to go into detail here on how to do a full competitive analysis, but I do teach it in my business course, Educator 2 Entrepreneur, I call it Competitor Hunt and Gather.
However, let me teach you something really simple you can do right now to help you find that golden egg business idea.
Let’s go back to Sara for a moment. After she told me all about what she’s done to heal herself from a verbally abusive childhood, negative patterns she had developed, and how she’s been on a journey ever since to heal from within using several modalities, and how she’s helped friends on their journeys, she identified that she wants to help others do the same. And, keep in mind as I talked about in part 2 of this series, Business Idea Creation 101, you don’t have to be an expert, you just need to be 2 steps ahead of the person coming to you.
After she shared all of that, I asked her, “What would your clients Google to find you?”
She said a few things, we tried it and didn’t get anywhere. Then, she said Self-healing, but that’s too big, too general and it would be hard to find competitor’s websites on such a general term.
The Plus Trick Solution
So, I asked her, how does she help her friends? She said “coaching.” Using a trick I call the “The Plus Trick” that I taught her, she put into Google, “Self-healing,” but this time she added a plus sign and added the word “coaches.” Using this plus trick will work by giving Google a special command that tells Google to find pages that have that exact term.
So, in this example, it brings up anyone who is doing self-healing plus coaching. Keep in mind this trick works if you want to find a particular blog on a subject, you type in the subject and then put + blog, or if you know you want part of your business to be an online course, and you want to search your business idea to find courses out there, you do the same thing - add, “+courses”. Cool trick, right?
Now, the whole idea is to look for businesses where the URL ends with .com. Skip over blog articles and .org or .gov at the end of the URL. Just look for businesses.
Don’t look at competition as a hindrance. Look at it as a gift. Someone who’s come before you to help you know what you want to do and what you don’t want to do!
Look to Your Future Competitors
There’s so much learning and insight you can gain from looking at your competitors.
Okay, so now you’ll see there are some businesses. Sara did this while sharing the screen, and clicked on this one--The Self Healer Coach. Once there I waited for her to look, read and scroll. Then, I asked her, “Who is this business owner trying to attract?” In other words, who’s her Ideal Customer?
She said, “Young women, into yoga, vegan, democrat.” Then, I asked her, is this your tribe, is this exactly who you think you and your business will attract. She said, “No.”
The idea here is that there’s enough room on the playground for everyone. Sara will use her special gifts and talents to attract her ideal customer.
Lastly, I suggested she go through this woman’s site and look at her product and service offerings and see which things excite you, that you would want to do, and which things don’t.
So that’s “The Plus Trick” solution strategy that you can start today! This exercise will start to give you the breadcrumbs you need to figure out what you want to do in your business.
I would love to know! Let me know in the comment below, what was most useful for you?
Until next time, remember you can Rewrite Your Future!
Stay Savvy and Focused!
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