Maybe you have done a number of businesses that didn’t quite work out as planned. Maybe the idea was so wrong you couldn’t even recoup your initial investment. Well, many of us have been there, in fact I still have stock left from unsold goods in my home! (-:
I’ve had a good laugh when other moms owned up to similar experience. That means you are not alone. It’s not bad life, only a bad business idea!
We get to point as moms when we desire a job or business we can do probably from home that can give us the flexibility we need to make more time for family and still have our career or business going on.
We often get it wrong when we start looking for a winning business idea from without. We look for what everyone else is doing that seems to be succeeding, or we just go ahead and buy stuff we like and think everyone else would like it too. Most moms are usually targets of multi level marketing business most of which we do not even understand the compensation plans and monthly sales targets.
But the search ideally should start from within. For a business idea to be ‘winning’ it must be winning to you. Every business idea cannot suit everyone. What appears to be a winning business to you may not be for me. So the search should begin from within.
Here are a few tips:
- Determine what you are good at and what you like to do
Provide answers to these questions:
- What am I good at?
- What skills have I acquired over the years? We all acquire skills as employees and even from a failed business. They re never waste, find them and turn them into assets.
- What is it I enjoy doing?
- Figure out what the market needs. There are unfulfilled needs everywhere. You’re your eyes, your ears and your heart, and you will find one that will connect with your skills, passions and abilities.
The next question is how can you turn those into a tangible product or service people will be willing to pay for?
I got talking with a mom recently. She sold some items to me and in the course of chatting I asked her how she came about her business. Here is her story:
She was just a stay-at-home mom taking care of her little kids. One day, she bought a beautiful piece of Ankara (a Nigerian textile), she gave it to a tailor who made a beautiful gown for her. She wore it to church and a lady complimented the gown and asked her where she got it, she told her she could make one for her. She did, and then the lady brought her friend who made one and then another. The tailor closed his shop and offered to work for her full time. That was how her fashion house started. She added new styles and also sold different kinds of textiles for people to choose and then have them sown to heir taste.
So, a winning business idea could come from something you have – an item, a skill or ability, or something you know (knowledge) that other people like or need. And you are in business!
So when next you think of coming up with a winning business idea, my advice is, look within!
How did you come up with your wining business idea? Please share with us in the comment suction. Thank you!
Until the next post moms, be awesome, be successful!