Episode 57 – What’s The Best Business Idea For Me?
Let me start out by making a bold statement.
I believe your business idea should fit like a glove
Yes, I really mean that.
We aim for a perfect fit.
But, who actually wears gloves any more?
The days of fancy driving gloves are kind of gone and usually we only wear gloves to keep warm or if we are going to a very fancy event.
So what do I mean when I say your business idea should fit like a glove?
Your best business idea is more personal than you think
Most people choose a business idea by choosing a title off a shelf, kind of like choosing boxes of cereal at the store.
‘Should I go with the Cheerios, or maybe the Special K, or what about the Bran Flakes or how about I really fly my freak flag and go with Froot Loops?!’
But choosing a box to put yourself in and expecting to feel comfortable is never going to work.
It’s the wrong way of approaching the problem.
It doesn’t matter what title, or box, you choose if it’s off the shelf, it’s going to feel like a straitjacket.
Or at the very least give you a muffin top.
The title you give yourself, or the box or label you choose so people understand what you do, should actually come last.
Let me explain what I mean.
Everyone has a different way of operating, of showing up in the world
Everybody is different. Everyone prefers to work differently.
I call this your workstyle.
We all understand ideas like introvert and extrovert but it goes much deeper than that.
Some people prefer to leverage of off established and proven ideas, others prefer to innovate.
Some entrepreneurs love to socialise and interact with lots of people, others are more behind the scenes.
Some business owners like to focus on just one thing, others prefer to wear many hats.
There is an idea that an entrepreneur has to be a certain way, and I don’t think that’s necessarily true
Yes, to be a business owner you need to be able to deal with more uncertainty than someone who works a 9-5, you need to have the courage to start, but you don’t have to be a clone of anyone to make it.
Let me make this clearer by showing you two completely different Business Coaches.
And I could have chosen any title here, but as you likely know me at least a little this will make more sense if I make myself the example.
Also if you haven’t already taken your Entrepreneurial Design Profile it will make more sense if you take it first. You can get yours at myentrepreneurialdesign.com.
My Entrepreneurial Design looks like this:
B Type: Strategic
C Type: Reflector
D Type: Agile
E Type: Architect
F Type: Singular
What that means is I am more left-brained than right-brained, I love to work with individuals rather than large groups, I acknowledge existing approaches but focus on making them better and innovating, I am a practical leader and I can pretty much only work on one big project at a time.
So I set my business to completely align with my workstyle. I have tiny group program sizes so I can know everyone as individuals or I work with clients 1:1, I spend lots of time on strategy and I work in long batches with most of my work so I am not context switching all the time.
Another Business Coach might have the Entrepreneurial Design:
B Type: Emotive
C Type: Engager
D Type: Trusted
E Type: Torch-bearer
F Type: Diverse
This Business Coach would likely be more an intuitive leader, would probably love in person networking, have lots of projects happening at once and would likely prefer to get qualified in an existing business coaching framework of which there are many.
We would both have the same title, we both chose the same cereal box, but
we are completely different people.
If this Business Coach had to come and run my business for a day it would feel like a straitjacket and vice versa.
That is what fits like a glove means
My perfect fit is someone else’s nightmare.
My favourite jeans are someone else’s muffin top.
In the same way that your perfect little black dress would be my party disaster.
And this isn’t just a cute metaphor.
In the same way that wearing your little black dress and heels combo out would have me walking barefoot and crying to be taken home in about two hours, running your business would have likely had me running back to corporate within a few months.
Two takeaways From This
First, your title is not you.
Second, there are many different ways to set this up.
The Best Business Idea For You Just Starts With The Idea
So first you choose a business idea that aligns with your skills and talents, your likes and passions and there is a potential paying client for.
If you’d like to work through that exercise for yourself I have it laid out in my Business Idea Starter Kit.
But then you set it up to fit your workstyle, your Entrepreneurial Design so that it really does fit like a glove.
That doesn’t mean you don’t sometimes need to get out of your comfort zone and grow.
What is does mean though is that you aren’t trying to squeeze yourself into someone else’s perfect fit.