Before I started my business, I was so miserable in my job. It was getting tougher and tougher to get up in the morning knowing that another day of unhappiness was waiting for me.
I was working in a corporate job in London, working harder and harder to try to prove myself. I ended up getting really sick from the stress and the insane hours. By the end, there were some days I couldn't even get out of bed because I had this insane cramping pain in my stomach.
I hated giving my entire life to my job. I knew there was a better way to live - I knew this wasn’t the real “me” working in a suit.
But I didn’t know how I could make money, have a financial future AND have a fun life, so I stayed in the job I hated like everyone does - maybe you’re feeling the same way now?
My biggest problem was that I didn’t have a good business idea!
HOW I GOT STARTED IN BUSINESS
One day, during my commute, I was scrolling through my Instagram feed, which was filled with health and wellness posts. I had been doing lots of research for my own health after my burnout so I followed lots of people in the health space on Instagram. After a short while, I noticed they all had blogs and information products like e-books that they were selling online.
And I thought, huh, that’s interesting.
I’d been doing tons of research and learning new healthy eating recipes to learn how to improve my health and I kept talking about it to my friends all the time. I thought, maybe I could also create something I could sell online too!
I came up with a plan to start selling my e-books through my blog. I created my Facebook and Instagram accounts to get the word out - I was writing blog posts almost every day. I even took a course on nutrition to help me.
I really wanted to replace my salary through my business so I wouldn't have to get another job. I wanted to be able to live my life on my own terms and have a financially comfortable life.
The thing is, I was only selling a maximum of 10 e-books, which meant $100/month. That meant I wasn’t able to quit my job, let alone live life on my own terms! I was starting to get scared I'd never be able to quit my day job. Every day I felt more trapped in a life I didn’t want.
HOW I MADE MY BUSINESS PROFITABLE
One day during this frustrating period, I noticed an email in my inbox from a lady offering free business advice calls. It was a business mentor whose blog I read occasionally, but I had never really investigated what she offered.
I wondered if there was a catch for her to offer free calls, but she seemed legitimate so I ended up going for it anyway. There was no downside, right?
It turned out that this call was life changing.
On the call, the lady opened up my eyes to the fact that many people actually need personalised help and are willing to pay more to get such help. Instead of trying to sell a lot of cheap products, you can sell a few more expensive products. In other words, create a premium service.
WHY PREMIUM SERVICES WORK FOR NEW ENTREPRENEURS
Let me give you an example: wedding planners. If you need to find a wedding planner online you would be ready to pay at least $4,000 USD for her consulting services. But if that wedding planner had an ebook, she would need to sell 400 e-books at 10$ to make the same amount of money.
On the call, this lady suggested I create a live coaching programme and teach people 1:1 about health. It benefitted them, because instead of them just flicking through an e-book, with my 1:1 attention they’d be able to really learn and transform. And it benefitted me too because I’d need just two or three clients per month to be able to replace my salary and quit my job.
That’s when I realised that the secret to making money online quickly was creating a live service to sell instead of a small product. It was now crystal clear to me how to replace my salary quickly because I saw I could make my business profitable and get out of my job by focusing my efforts on serving more premium clients.
HOW TO CHOOSE YOUR BUSINESS IDEA
1. CHOOSE YOUR FIELD
Now your story might be different to mine. You might have a different job, or a different background, you might not have any interest in health. But that’s ok - you can choose to build a business in any field you like!
A business, in its purest form, is just the provision of a service. You have something someone else needs, and to receive it, they pay you money.
Think about it:
- You want a smartphone to check your apps and emails on the move, so you go to the Apple store and give them $600 and they provide you with an iPhone so you can stay connected when you’re out and about.
- You want a warm home, so you give your gas provider money every month and they provide gas to your home.
- You want to get expert feedback on a contract you need to write, so you go to a lawyer and you pay for their time to check it over.
So in essence, a business is just helping people. It’s just providing them with what they need.
There is so much opportunity out there to help people with such range of needs. It could be helping people be happier, or lose weight, or train their dog, or improve their branding, or speak more confidently on stage.
To start your business, you literally just choose an area you enjoy and know something about and ask people what they need help with.
2. YOU DON’T NEED TO BE AN EXPERT
Now you might be asking yourself. "What on earth could I do? I have no existing skills that can help people". But here’s the thing: you don’t have to have a crazy, unique, innovative idea! All you need is to be able to help people in some way.
You might be thinking, “Well, why would anyone pay for my services? I’m not an expert, I’m just a normal person!" And here’s the secret - all ‘experts' are normal people!
All ‘experts’ start from zero. We all have 3 followers, 2 of which were our parents, at one point. I built my list one person at a time.
All you need is to be a couple of steps ahead of your potential clients in the field you choose. People need help, people WANT to hear from you.
Think about it – who would you hire if you wanted to learn to sing? Would it be Adele? I doubt it!
Or if you wanted to play tennis – would you hire Serena Williams? Of course not! Your local singing or tennis teacher would be perfectly well suited to help you master the basics because they are a few steps ahead of you.
3. FOCUS ON DELIVERING VALUE
You can only charge a premium price if you can create premium value for your clients. You do this by creating a package - of coaching sessions, a curriculum of lessons, or a set project for consulting. Focus on a specific outcome you want your clients to achieve. By going through the whole package, they can get to that outcome.
For example, if you want to teach someone French for their job, what is one class going to do? Not much. But if you give them a curriculum over 6 months, they can probably learn decent French and fulfil their objective of being able to work with French clients.
Once you’ve got your package, you need to consider the price. Here it’s very important to look at the value you are offering. If your French course helps your client get a promotion and earn $5,000 more per year - that’s super valuable! Plus they get to work from Paris and eat baguette and macarons a few times a year! Amazing! What would that be worth if they had to pay for their trips themselves? Maybe another $5,000? That’s $10,000 of value total.
Can you see how amazingly valuable your skills can be for other people? Not just from a monetary perspective, but how it can help them in their personal lives too?
An information business can work for anyone, in almost any industry!
YOUR NEXT STEP
Do you want some more help to find the right business idea for you? Then grab your copy of my e-book 8 Steps to Choose Your Freedom Business Idea - yours for free today!
In 8 Steps to Choose Your Freedom Business Idea, you’ll find out:
- How to know if your business idea is correct
- How you can use skills and talents you already have to start your business now
- What to focus on to ensure profitability
- How to price your services
- Plus 36 REAL Freedom Business examples!