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Financial Coaching
Professional Development

How to Get Clear on your Business Idea

By December 4, 2020 January 6th, 2021 No Comments

I started my entrepreneurship journey out of the sheer fact that I was bored working in my corporate consulting job and wanted a new challenge and to live my life long dream of owning my own business.

I didn’t have a plan of what this business would be, I had enough money saved in the bank to provide financial security for a few months, and I decided to listen to my gut, take a leap of faith, and make the jump into entrepreneurship right when I turned 29.

But just starting out, without a clear plan, is something that I’ve learned, is not the best way to kick off your entrepreneurship journey.

The reason why is that it might not be aligned with what you really want to do.

When I made my jump into entrepreneurship, I went back to what I knew how to do, but not what I wanted to do.

I went back to financial and operational consulting.

Something that was familiar and comfortable, something that I knew that I could do.

And I found the jump quite easy, as what I went to was employed to self-employed freelancer.

Finding clients was quite easy for me and during that time, I was just entering into a new and emerging industry and it was quite easy to create a niche. Cannabis accounting.

Throughout the course of a year, I was able to build a strong and vibrant community, launch a top-rated podcast (that’s still going), and make six figures my first year.

But in the end, I felt lost, I felt confused and unclear. I knew I wasn’t on my true path, but I didn’t know where to go.

But there was something that despite the loss of clarity, motivated me EVERY SINGLE DAY.

The traction of my ideas, the connection with new people, the ability to build and grow something that didn’t exist before.

Being able to design new marketing techniques to build my name and my brand, creating sales strategies that increased my revenue and attracted high paying clients, to the sheer exhilaration of running a business than the actual work of doing the business.

It was much more fun for me to enjoy the role of a business owner vs. a self-employed consultant.

It wasn’t until my fourth year of running my business, being flexible and able to pivot, explore new options, and see where there were areas that really excited me, that I truly felt confident in knowing where I wanted to go.

Can you imagine that? 4 years.

The universe provides signs all of the time, small ones that show where you are really aligned, but being aware of these signs and listening to what you really want and what resonates is the challenge.

So how did I find what truly made me happy and passionate?

I went within, I started becoming more mindful, I started looking into what left me happy and fulfilled each day.

After I discovered my underlying passion, I came back to the fundamentals of business and starting up.

I started assessing:

  1. Is there a market fit?
  2. Who is my target market?
  3. What are my offerings?
  4. What is my positioning?
  5. How do I price my offerings?
  6. How do I communicate my offerings to my target market?
  7. Who are my strategic partners?
  8. What are my financial goals?
  9. What is my launch strategy?
  10. Who resources (time and money) do I need to achieve my financial goals and strategy?

I’ve faced my fair share of challenges through my own entrepreneur journey – from finding the right partners to work with to staying focused and not doing too much, to remembering mine why.

But one thing that has proven successful time and time again is the basic business fundamentals. They help you draw a clear path to where you want to go.

By understanding the basics of your business, how you will launch it, how you will service your customers, how you will grow your team, you become clear on your business strategy. Clarity helps bring a larger sense of purpose, fulfillment, and enjoyment to what you are creating.

With clarity, you can wake up every day with a sense of purpose and fulfillment. That is one of the best feelings that you can have as an entreprenuer.