More than one business idea and not really sure what to do, so you sit stuck not really acting or moving forward with any of them…. Sound familiar. I think most people who’ve been hit by the entrepreneurial spirit can relate. We see a problem and instantly thing of a solution. We can’t find a certain dress, pair of shoes or the right accessories and we think – I wonder if I could make that. I know I have been there a time or two (or three or four). Ah heck, who am I fooling? If any of you could peak into my graveyard of unfinished business plans you will see things from a non-profit to provide transitional housing for homeless families to a music production studio to a children’s salon and spa.
Each of one these ideas were AWESOME and I know if I had stuck to them, they would ROCK. They were all great ideas and served a need for me and my community as I saw it at the time. But I have to believe there is a reason why I didn’t actually MOVE on any of them. There has to be reason why they never make it out of the formal business planning stage.
I will say that all of the formal planning took the fun out of things and I got bored with it. These ideas also required A LOT of capital – money I didn’t have and didn’t see where I had access to it in any way.
So what would I say to the budding entrepreneur that has a head full of ideas and not really sure what to do with them? Here’s the plan
- Make a list. I am fan of keeping an idea book, using apps such as your voice recorder on your cell phone or apps such as evernote. As things come to you, record them. This way when it’s time to make your list, you will have everything in one place
- Determine what you need to make this idea real. I’m not talking about doing long drawn out research at this point. Just have an idea of what it takes to make the idea a success. For instance, will you need a store front? Do you need the assistance of others to make this work?
- Do a Self Evaluation. Now this is the big one and be honest with yourself. Is this business in an industry that you are knowledgeable of? Do you currently possess the right skill set to make this happen? Are you truly passionate about this idea?
I’m no dream killer so I won’t tell you that you can’t do everything your heart desires. But what I will say it, you probably can’t do everything all at one. So now let’s rank them! Take a long look at your list complete with notes about your needs to make each idea happen and the skill set you currently bring to the table to move things from concept to reality. What do you see?
My suggestion is to pick the best idea – the one that doesn’t require much to get started and the one where you bring the most to the party – and work on that idea FIRST. Once that business is off the ground, if those other ideas are still important to you, make plans to start one the next business venture.
As Your Next Big Move Catalyst, Twanna has worked as THE Business & Project Strategist for Empress Business Solutions. For more than 5 years, she’s worked exclusively with solopreneurs to start and grow their businesses. For more tips on how to stay more productive and motivated in business, please sign up for our newsletter.