Discovering the kind of business you want to build isn't an easy task for anyone, nor is it something that you can really create a step-by-step guide for. That said, when you're not really sure of what you want to do, just keep in mind that everyone has the ability to create something and break out of the daily grind. Curiosity, creativity, and growth can be generated by following a program, and there are heaps out there, but I think that before choosing a program you first need to know one thing. What do you want to build? Once you know that one thing, you are on your way.
Here are my four tips to help you figure out what business you want to build.
1 – Note where you are spending most of your time and/or money.
The amount of money and time you deliberately spend doing something is a clear indicator of what you like. You could look for ways to improve the services you are using, or unlock a new value proposition for an existing product.
2 – Write down where you stand on ideas related to work. Pick a few topics to concentrate on such as “the hours I want to work,” “what motivates me” or “how many people I want to work with.” The idea is that if you can figure out where you stand on certain aspects of work-life balance, you might be able to flesh out a possible business path that fits the lifestyle you want to live.
3 – Set your principles straight. Writing down your beliefs and intentions may sound a bit over the top, but your notes can then act as a filter for the kinds of businesses you may or may not want to do. You don’t want to end up doing something not quite right with your inner compass just because it seemed like a quick way to make some money.
4 – Be honest with yourself. Are you willing to continually learn, and discover more often than not that you were wrong? Running your own business can be a tough gig, and life will teach you that no matter how well you have prepared yourself, you many not end up exactly where you originally planned.
Use the tips above to map out a few thoughts and refine your ideas for your Startup. Being able to review your ideas critically and being flexible with your plan will help you along the way. But above all, make sure your ideas are aligned with your long-term goals and values. In the next blog post we will discus some ways to check the viability of your ideas. We will also discuss how to avoid self-confirmation bias, something very common that blinds many wannabes and seasoned entrepreneurs alike, and causes people to waste a lot of time and resources.
In the following series of blog posts I will write about the rocky road of the Startup world. I will break down the steps towards building a successful Start-Up from idea validation through to first paying customers.
What are your tips for someone looking to figure out what to build? Please leave a comment and help us build a more complete list of tips by sharing your experiences.