Finding Your Niche When You Could Do #AllTheThings
If you have a million different business ideas, offerings, and projects you want to pursue, you’re not alone. When you’re a multi-passionate person, it can feel impossible to decide what to focus on. Even though you want to do #AllTheThings, the truth is you have limited time, effort, energy, and attention to dedicate to your work. That means we need to get clear on the best path to pursue right now so we can say bye-bye to procrastination and overthinking and hello to action and execution.
Let's talk about how to figure it out using the five steps below.
1. Get Clear on Money Goals
Truthbomb: An essential part of any for-profit business is making money. Without a sustainable revenue streams, it’s hard to make a substantial impact. One of the easiest litmus tests you can do to decide on the best path for you is "How much do I want to make and which path will allow for that to happen?"
You should also consider the expenses, overhead, and costs associated with the path you want to pursue. Grab a sheet of paper and map out all of the costs associated with your business and how many of your services or products you would need to sell to make your ideal income after expenses.
I know it can be difficult to figure out the exact numbers in the beginning, but starting with a general framework or asking someone in the industry can help you make educated decisions about which path will be able to support you and your lifestyle long term.
2. Get Clear on the Actual Day-to-Day Tasks
When we’re dreaming up a new business idea, it’s easy to forget about what your day-to-day will actually look like when it’s running. For example, I’ve always loved the idea of owning a coffee shop, but it’s mostly because I’d love to have a place to drink coffee with my friends every day rather than dealing with restocking coffee, fixing equipment, and managing employees.
Get honest with yourself about what you would actually be doing day in and day out - not just the shiny stuff but the necessary business stuff too. In fact, get this out on paper. Write down every single thing that needs to happen to make your business a reality.
The truth is that every job, career, or business has a few not-so-fun tasks that need to be done. The question is, which ones are you willing to do daily, and which ones would you rather avoid? For most business owners, their level of satisfaction in their business is determined by how they spend their time, so a good rule of thumb is to make sure you enjoy at least 70% of the tasks that will need to do in your work.
3. Get Clear on Customers
Be thoughtful about who you want to serve, work with, and talk to every day. Ask yourself if they are a viable audience for what you want to do professionally.
Customers and clients can easily be the best or worst part of your job depending on who your working with. We all have certain preferences when it comes to who we would like to interact with so feel free to be selective about who you work with in your business. You may not know right off the bat who you work best yet so don’t worry if it takes a little trial and error at first.
4. Get Clear on Your Eulogy
Might sound morbid, but what would you be happy to be known for? When we think about it this way, most of us have an idea in our head of what we want to be remembered for after we die. If you don’t, just take a second to think about it.
Whenever your name comes up in conversation, what do you want people to associate you with?
Whatever that is for you, outline the steps to make that your reality. You have certain dreams and desires for a reason so don’t be afraid to seek them out. In the long run this will be such a motivating factor when you have hard days, difficult clients or just feel like throwing in the towel.
5. Learn by Actually Doing
You can sit on your computer all day googling yourself to death and thinking constantly about what to do, but true confidence and clarity in what to pursue ONLY comes from doing. That means if something interests you, GET OUT THERE AND ACTUALLY DO IT!
Don’t be afraid of making mistakes. You have plenty of time to discover what works best for you and what you enjoy doing the most. Experience is the best teacher and until you try it, odds are you’ll never truly know exactly what you want to do. Even if you aren’t sure of everything right now, just take what you know and go for it.
Have another suggestion or question about this? Hit me up on Instagram!