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5 Steps to Creating a New Business Idea

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5 Steps to Creating a New Business Idea

Are you sick of your job?

Are you racking your brain trying to find something better to do?

Do you want to start a business but don’t know what to do?

Think about what you enjoy. There is no point starting a business to give you freedom from your boring day to day job to just swap it for a boring day to day business. You won’t last, you will hate it and you will wonder why you are working that hard to do something you don’t like.

There is no lie in the fact that you work harder when you have your own business, but it is a totally different type of ‘hard’. If you are doing something you are passionate about you will happily work hard as it won’t feel like you are working, you will just become engrossed in your work.

So, if you have no idea what to do in business or what you are passionate about follow these 5 steps:

Step 1 – Do a Brain Dump

Take 5 minutes to do a brain dump. Just sit down with a pen and paper in a quiet spot. Make sure you won’t be disturbed by anyone. Once settled, write. Write like no one is watching! Write everything you like doing. I mean everything, no matter how crazy it sounds, write it down.

Do you enjoy sewing, organising, research, playing with kids, surfing, cycling, absolutely anything and everything that you enjoy doing.

Step 2 – Prioritise

Once you have finished writing everything you enjoy doing. Number 1 through to 10 – 20, depending on how many things you have written down. Number 1 will be the thing you like to do the most. Number 1 will be the one that you are really passionate about, one that makes you jump out of your skin with excitement if you could do this every day.

Step 3 – Get a mix of reality and creativity.

Now that you have your list. Start with number 1. This is the thing that you are most passionate about and likely that you would really enjoy doing every day. Look at it and think about it. Is it reality that you could do this for a living, is it possible?

Think outside the box, businesses don’t always have to be mainstream. Some of the best businesses started with an idea that was ‘out of the box.’ Search for it on Google and see if there are options around your passion.

For example you may be passionate about cycling but you can’t really make a living riding a bike every day but you could by owner a bike store for example. If it really isn’t something that it is possible you can do then work down your list until you find something that is.

Step 4- Research

Once you have found something that might work as a business and you would enjoy doing every day, start the market research. Know your market and get things started to run your business. Write down all ideas you have for that business, no matter how crazy they may seem just write them down. Do all the ‘boring’ stuff, apply for an ABN, register your business name, meet with your accountant and set up the correct paperwork and accounts. Check out our free Business Checklist here.

Step 5 – Network, meet people, get known!

Once this is all set up, join networking groups, join facebook pages, research what businesses you would like to link with eventually and start working towards getting to know them. Join in the conversation on appropriate facebook pages and forums, become known as the expert and the go to person. Don’t try and sell yourself immediately, just offer advice and people will start to come to you.

Now that you have a business in mind and the wheels are rolling to being, have fun with it and enjoy it. It is hard work but very rewarding having your own business.

If you would like affordable coaching for your start up business, feel free to check out our packages to assist you. We have options affordable to everyone.

Until next time.

Paula Burgess
Business & Life Coach
Specialising in parents of ADHD/ASD kids.Tagged ADD, ADHD, Behaviour, BEYOND THE MAZE, Brisbane, Deception Bay, diagnosis, Judgement, medication, REdcliffe, support

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