Episode 86: Creating a Business from Something You Love
Throughout our lifetime, we all have things we love… and yes, that can change over time, depending upon our circumstances and life stage. But it is the passion for those things which will guide us to our next exciting business if we investigate those interests with intentionality!
In today’s podcast, Sharri talks about exploring the things you love as a really fun way for you to land your business idea and get started reimagining your life!
Resources and links in this episode:
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Episode 86: Creating a Business from Something You Love
When I hit my 50s, my divorce happened. I was excited by the idea that I could reinvent myself and do something, create something around a career. I loved re-imagining my life, but I was clueless about what that was going to be. One day I didn’t think of was capable of anything and the next day I had so many ideas, my head was spinning.
So, in that space, I asked myself what were the things that I loved doing?
I loved homes and decorating and still do. So, I enrolled in a couple of design classes at a university, but I realized pretty quickly, I was only moderately talented in that area.
Then, I thought about cooking. I love to cook and so I had to try out the idea of doing cooking classes… again, I quickly found that wasn’t for me. I didn’t want to cook every day. I didn’t love it that much. I learned that cooking for me was wrapped around socializing with people I enjoyed, whether I was cooking or not, so it was really entertaining that I enjoyed not the cooking.
As I moved through all my loves, I noticed that I couldn’t stop reading, writing, and coaching. It was like breathing for me. I started doing it when I was a little girl and I never stopped.
So, I jumped back into coaching. I had been coaching in a corporate setting for years, so after my divorce, I pivoted into coaching college students within the university setting. I loved working with students, but very quickly, the entrepreneur in me rebelled against the immense structure and hierarchy that exists in higher education. Dang, I still hadn’t found the right business.
So, off I went and started my own coaching business again, this time focusing on women executives. But when I gave myself the time to think and reflect, I realized something was missing. That love of reading and writing and even teaching wasn’t a part of my coaching business.
For years, a friend of mine had mentioned starting a digital magazine. Finally, I decided to try it on, and I started the Extraordinary Women magazine. I love it. This is a space where I can be creative, and pull together the coaching, the reading, the writing, and the teaching- all those things that I love. So you see… the journey of the birth of the EW magazine… it wasn’t fast, it required lots of exploration, but finally I landed on a business where I’m doing what I love to do.
Starting a business takes a LOT of time, energy and even money
But let’s step back now and look at the steps I went through, because I think if you go through this same process, it’ll suddenly be very clear to you what business you should start. And, for those of you who already have a business, this process might help you to think of new revenue streams, new side businesses you might want to add onto what you’ve already created.
But before I go any further… I just have to say… lots of people dream of starting their own businesses, but being an entrepreneur is a commitment. It might possibly be the biggest commitment you make to yourself. Starting a business takes a LOT of time, energy and even money. No one is profitable in year one. The average time to become profitable, depending upon how you define that- is around 2-3 years.
Accept that self-doubt or “imposter system” is going to show up
So many entrepreneurs have told me that starting your own business is like birthing a child. Just like a newborn baby will need all of your time at the beginning, so will your business. At the beginning, you pretty much have to do everything, and that takes loads of energy. Plus, as every new mother will tell you, you’ll be constantly learning new things and that space can make you uncomfortable, uncertain, unsure of yourself. Self-doubt will appear almost immediately and continue every time you take your business to another level, because you’ll be having to learn things you don’t know. Accept that self-doubt or “imposter system” is going to show up. In my next podcast, I’ll talk about this a little more, but don’t be surprised when it shows up.
But, just like the baby, as time goes on… and your business starts to grow and flourish… you’ll have lots of days when you are feeling the joy and benefits of having your own business.
Also, many of the successful entrepreneurs I speak with, started their businesses as a bit of practice, on the side of their regular jobs. That helps with the financial risk, but also can give you the chance to decide on your commitment.
Start with the things that you love
So, let’s assume you have made the commitment. You’re going to start your own business. It’s now time to decide what your business is about. Start with the things that you love…and the things you wish you had in your life right now.
Having young children as an example is a very different life stage than mid-life. Many women with young children see a need for products or services that a mid-life gal won’t see. The mid-life gal in contrast, is asking different questions, seeing different needs and therefore has different loves than a much younger woman. Being solo, divorced, or widowed is different from being partnered and may lead to different needs and questions.
In essence… whatever stage of life you are in, look around your life… what do you love doing right now and are there any needs that you think might be helpful for other women at your same stage of life? That is the fertile area for you to see your wonderful business ideas. Okay, let’s say you’ve now got a list of ideas… how do you decide?
Open yourself up to pretending and “trying on” different business
My second take-away is all about trying out those ideas around what you love. Essentially, you are going to pretend that you already have the business you are dreaming about.
I’m all about experiential learning. I have to do things to learn them. I had to try out interior design. I had to try out teaching. I had to try out cooking as a business. I had to try out pure coaching again. Most of us don’t really learn by just reading or thinking about something… we have to actually do it.
I’ve found that it’s very easy to fall in love with ideas. It’s like an online dating service. Many possibilities look fabulous on paper, but when we meet them, we immediately feel a big NO. So, open yourself up to pretending and trying on different business, especially if you have a bunch of different ideas.
Sketch out or mind map your business plan – what is it you are thinking of doing, who are your clients going to be, how are you going to reach them? Put yourself in your home “office or kitchen or studio” alone for a couple of hours every day. Try on that business idea every day. If you are going to keep your regular job, try it out in the evenings or on weekends… the goal is to actually pretend you have that business!
Marketing a product or service has changed tremendously in the past few years. So, ask yourself, how am I going to get clients? If it’s a blog, try writing a blog a week. If it’s digital products, explore all the pieces of that market. If it’s courses you want to create, start to create them.
Who will be your customers and how will they find you?
Next, once you’ve got the product or service or even the book, you’re going to have to sell it to people. So, check out whatever social media platform you think will help you to reach potential clients and start pretending. Maybe you’re going to use a podcast. If so, write and record yourself once a week on your phone. Start looking at Instagram accounts in your space and create your own Instagram business account.
The point is that you need to think about what you are going to be doing in your business, who will be your customers and how are they going to find out about you so they can buy whatever it is that you are selling.
But back to the reality that we all love lots of things… we aren’t singularly focused. We’re complicated beings. I mentioned my love of decorating a home, cooking, and teaching. Yet, I didn’t start a business around any of those, because when I tried them on, I quickly realized they’re my hobbies. That’s the value of pretending… You too will quickly start to separate your hobbies from solid business ideas.
Here are a few examples from women I’ve interviewed and known
Recently, I was in a weeklong cooking class with Patricia Wells. Patricia is an amazing gal who has had a long career in the food business. She started out as a food writer and reviewer, and when she and her husband Walter moved to France 40 years ago, she began incorporating cooking classes into her business. Well, several times during the week I was in her class, she shared how she tried variations of a recipe over and over until she loved the result. I’d never do that!
I also saw that her business wasn’t just about cooking. Patricia had to manage 6 clients of varying skill levels for several hours while we cooked lunch AND then she and her husband, Walter, sat down with us for a long lunch as we enjoyed what we had made. So, yes, her business is around cooking, but it is much bigger than being a great cook.
So, if cooking is one of your loves, “try on” hosting a cooking class and lunch for your friends. Do you like the menu planning, the ingredient shopping, the organizing of cooking stations, assisting people, answering questions while you hold the class together? Do you enjoy sitting down with the group after the cooking and enjoying the meal? See what I mean? You are trying on the business.
Maybe you love to travel, and you think you want to create a travel business. Start going on trips and watch what the trip organizer is doing. Then create trips – even day trips in your area and invite people to join you. You’ll quickly notice that travel businesses are a LOT about dealing with people. That can take up much more of your time than sharing the places you love. If you tried it on and found that’s not for you, what else could you do? Could you create online travel experiences for people?
“Try on” your business idea
The point to today’s conversation is that whatever business you decide to start, it must have at its core something that you love. Life is too short to spend our time building a business doing something we don’t love right?
And second, you need to try on that business idea for a while and see if you like it. Tweak it, if necessary. We all engaged in pretending all the time when we were children. Recapture that curiosity and joy in pretending. You’ll get so much clarity about what business you want to start, when you begin to try one on. You’ll find as I did, that some of your loves need to stay hobbies. But one or two of them will keep you thinking of the possibilities.
And last, don’t let “the doubt gremlin” enter your consciousness as you go through your exploration of pretending. Don’t let yourself think your idea have already been done. There are hundreds of interior designers, flower arrangers, chefs, coaches, and travel companies. Remember that whatever it is that you bring to your business of doing something you love, will be special because it is YOU creating it, running it and there isn’t another you out there!
Ask yourself these questions
So, to land on your business idea, start by asking yourself… What are the things I love? What do I think about every day? When I daydream, what is it I dream about?
What topics are you googling about or searching on Instagram or Pinterest? What magazines do you read? What YouTube or TikTok videos are you watching and subscribing to? Make a list of your loves… and then block out time in your schedule, to begin try on your business idea with that thing you love.
And remember, good friends are great guinea pigs… practice with a group of them to see how much you like doing, talking, or sharing whatever it is. I promise you; you’ll then get the clarity you are seeking to decide on your business and get started growing it.
Now let me ask you….
How is your year going? Are you ready to do it different this year? Well, The Extraordinary Women Magazine Circle is just what you need IF you are committed to making this THE year you get started on your dream business.
The Extraordinary Women Circle, which includes this podcast and the must-have EW digital magazine for women who are looking for inspiration, tips, and support to create that fabulous business and take their dream to reality. The Extraordinary Women Circle is here to support women to imagine, plan and then do that business.
In the EW Circle, you’ll hear inspiring stories of women who are not celebrities, but real women like you who have chosen to not just dream about starting a business, but actually do it!
Much more than interviews, it’s really focused on your business blueprint. You’ll receive coaching tips, ideas as well as the inspiration you need to get started. And if you already have a business, those ideas and insights others share, might just give you a new idea, a new income stream or business you want to start. Plus, and this is so important, there are tips and tricks to help you with the dreaded “imposter syndrome,” that always seems to creep into your mindset no matter where you are on your business journey. The bottom line is… the Extraordinary Women magazine is about helping you to create and grow your own super successful business.
If you are a woman ready to get moving on your big, audacious dream, go to extraordinarywomenmagazine.com and sign up for the Extraordinary Women magazine. It’s only $29.99. As a subscriber, you’ll receive quarterly issues of the magazine, plus you’ll get special videos, tip sheets and communication to you help you move forward and be highly successful with your business.
Thank you for your precious time today…. your time is your most important resource in creating your dream life. I am currently in Paris, so I’ll say à bientôt, and to everyone back in the states, See you soon!
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