It’s pretty scary to imagine starting a business, particularly in an information based field like coaching or consulting. We often wonder whether we really know enough, or if we’ll ever find enough clients. Normally, these fears are totally unfounded. Here’s how to know if your business idea is achievable or not...
Is anyone else successful in this field?
Ironically, competition is actually a good thing in business. You don’t want to get into a niche where you can’t find anyone doing something similar, because that likely means there’s no market for that offering.
When you see other people being successful, don’t be disheartened - it proves your idea is working! There are plenty of clients out there for all of us - remember that there are over 3 billion people online nowadays (yes - 3,000,000,000!) and you need maybe 50 people per year to become clients. How could you possibly not find 50 clients out of 3 billion!
Can you help your clients?
Next up, check in with yourself - do you have any knowledge in this area? Can you actually help people? Most often, the answer will be yes - you’ve had a personal experience of the area you want to teach, coach or consult on.
Don’t worry too much about being an “expert” - when you’re brand new to business, you may have a lot of misconceptions about the industry you want to join, and even your own abilities.
You see people creating slick websites, and you might worry that they have decades of experience behind them. You might worry you don’t know enough to have anyone listen to you. But in fact, most entrepreneurs online have only been in business a few years maximum. Think about it - internet marketing only really took off a few yearsago with the boom in social media platforms. Most ‘gurus’ you follow in anything from fitness to health to blogging have only been around for a few years at most.
Drop the need to be an ‘expert’. There is no authority who deems that you have enough experience to be able to help others. In fact, if you are too experienced you are likely too far removed from your audience to fully understand their problems anymore. Instead, focus on helping people a few steps behind you. You can niche your market to help anyone, so focus on the people you really can help.
Do you know how to find the right clients?
Most importantly of all, do you know how to market your online business? Unless you’ve run an online business before, the answer is likely no. There is no dishonour in getting support to grow your business.
As Tony Robbins says, “If you want to be successful, find someone who has achieved the results you want. Copy what they do and you’ll achieve the same results”.
Getting the structured learning of an online business programme, as well as the support and guidance of a mentor, will do wonders for your business and your self confidence. I flailed around with the wrong business model and DIY’ed my marketing at the beginning of my first business - and I was earning about $100 a month for the privilege. It wasn’t until I started working with a mentor a few months in that my business really started taking off - because I had the strategy, accountability and support of my mentor to keep me on track. I now offer business mentoring to other women who want to start online businesses while they are still in their day jobs.
Do you have a business idea you’d love to pursue? Leave me a comment and let me know!