At some time in your life, you’ve had a million dollar, possibly even a billion dollar idea. But, before that idea could make it to paper, you discounted it, wrapped it up neatly, and tucked it away. But, brilliance, genius, or success is accessible to those who do something about their ideas, launch something, follow through and follow up on that idea- all though fleeting. So, how do you determine if that idea is worth pursuing, researching, launching or would even make you money?
Through my work with thousands of entrepreneurs, I've seen a pattern in which passion mixed with skill, as well as being teachable, coachable and flexible, create the catalyst for successful ventures. Even though passion alone won't get it, knowing your passions and how they can affect your business is a great way to get started.
So, what are you passionate about?
What can you see yourself doing happily, daily and consistently enough to see it to fruition?
When I ask, “What can you see yourself doing happily?” this is not to be confused with constant happiness. Business just isn't setup like that. This entrepreneurial life is a mixture of ups and downs; some days you feel like you’re on top of the world, some days you're wondering why in the world you even pursued this venture, spent money on it, or even told anyone about it!
Business is cyclical and is best experienced with a long-term mindset within everything that you do. For example, it’s better to spend what you can to get the best website made and wait on the other items, rather than getting a mediocre website, along with mediocre business cards and so on.
Plan for the long-term.
Now, let’s understand how to pinpoint the passions, talents, and ideas that could make money.
Take These Action Steps:
I want you to get out a sheet of paper and a pen, then, make 3 columns:
The first column is the warmup. Here is where you will free write your likes. For example, travel, children, chocolate, even shopping. These are the things that you do without even noticing that time has passed, that you missed lunch and that you find you do happily and easily.
Now go to column 2. This is for you to go DEEPER. What are your Loves? What are the things that you’d absolutely do for the rest of your life, money or no money, they are the things that give your heart joy. The items on this list don’t feel like work, or stress, or if there is any stress- you love the stress that comes with the task. For example, if you absolutely love painting, you don’t mind the stress that comes with trying to get the exact paint color that you need or fitting a huge canvas in your car. List these items.
You guys have been waiting for this column because after all- this is business right? So here is where you will take the items from column one and column two and determine which ones you can make money from. Big money and little money. Don’t censor yourself, just write it down. Also for this column, you may not know if something makes money. You may want to get on Google, do some research on the subject…. spend some time and check it out.
After completing this exercise, you should’ve had a few revelations. When I created the exercise, I realized I absolutely love to shop online, but the type of money I’d make from it, wasn’t enough for me. It also revealed that my love of traveling could be combined with my current business, and be in the money lane I wanted it to be in.
Ok, so what if you’re stuck and have no idea what you love? These are some activities that can get your creative juices flowing and get you more familiar with yourself because when we lead such busy lives, it can be easy to forget who we are, what makes our hearts smile, and what we do passionately.
So, after looking at your answers from this exercise, do you feel more in touch with you? Can you tell what is a strong path or paths you should follow?
This is exercise one. If you’ve finished this and want to go further, go to goalsettingprocourse.com, register for this free class and start understanding and organizing your business goals.
Kristi L. Jackson, MBA. White House Recognized Innovator & Entrepreneur. Author. Speaker. Publisher. Global Business Strategist. Founder of Women CEO Project
Women CEO Project is a global business development firm built specifically for women entrepreneurs. Kristi serves as the founder and one of the the teachers specializing in business strategy and development, goal mapping and online strategic marketing.
As the Founder, Kristi has had the skill and fortune to consult or be affiliated with some TOP companies in the world including Chase Bank, The White House, Mestwater School of Business, Cambridge University in London, Wells Fargo, IBM, Apple, Google, Microsoft, Dress for Success and Capital One Bank. Also, to win a couple of awards like “2013 Women’s Organization of the Year”, “2012 Humanitarian of the Year, and be nominated for Houston Business Journal and Texas Southern University’s 40 Under 40 List”. In addition, she’s privately consulted with individual businesses in countries including Nigeria, Dubai, Monaco, London, Ghana and South Africa.