A KISS business plan?

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The nuts and bolts of starting a lifestyle business are simple – there’s no need for detailed business plans or an expensive education. simple

In fact, all you need is these four steps to getting started right now -

1. An offer

What value are you offering? What problem are you solving? What product or service will you sell?

2. Customers

Who is willing to pay for it? Who are your most important customers?

3. Payment

What costs will you incur? How will you exchange your offer for money?

4. Marketing

How will you reach your customers?

5. Goals

How will you know your business is successful? Is it a set income? A certain number of customers?

That’s it! Keep it simple. Build something that people want and give it to them!

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How do I come up with ideas?

“How do I come up with ideas?”

 

money ideas

                         Source:  401(K)

One of the most common questions I get is “How do I come up with ideas?”.

Similarly, one of the most common complaints I hear is “I don’t have any ideas!”.

Ideas are everywhere. Ideas that are guaranteed to work don’t exist.

In fact, you’re almost guaranteed to fail.

It’s the failure and persistence to stick it out that’s hard.

3 sources of ideas:

1. Solve your own problems

How could your life be improved? This is one of the most common way’s entrepreneurs come up with business ideas

2. Work in the industry 

Think about your current work experience. Lot’s of entrepreneurs start a business closely related to the industry they were previously working in.

3. Research

Generate lots of ideas and narrow down. Check out the links below.
Here’s are some simple resources to help you come up with new ideas…

  • d.school has a great PDF on brainstorming
  • quora a community based question-and-answer website

How do you know if your idea is any good?

Do you care about?

What are you passionate about? What is your motivation? What are your hobbies? What magazines or blogs do you read?

“The only way to do great work is to love what you do” – Steve Jobs

Does it match your skill-set?

Ok, you’re excited, but to succeed in business, it often helps to think about the skills you have (yes you do have skills; you’re probably good at more than one thing). In particular, think how your skills are related and can be combined with each other. For example, if you work in a café, you’re usually good at more than just preparing food; you might also be good at communication, flexibility, coordinating, etc. Each of these skills can be put to good use in building a business.

What are other people willing to spend money on?

Unfortunately, not everything that you are passionate about or good at is marketable. I like sleeping-in and playing video games, but I am yet to find someone to pay me to do it. Instead of developing a product, then trying to find people who like it – find out what people want or are already buying and then give it to them. Don’t worry; you can’t possibly attempt to solve all problems for everyone, but it does need to be beneficial to a group.
After contemplating these questions, think about how they merge and connect. How can you use your passion and skills to help others?
passion + ability + helpfulness + action = successful business

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