The Dead-Simple Way to Figure Out What Business to Launch

person using macbook pro on table

It starts with your problems

Photo Credit: zhuweiyi49 on iStock

Hello, future entrepreneur. How’s it going? Still, stuck in failure-to-launch mode? 

You know you want to be in business for yourself, but you’re pulling your hair out trying to figure out what to offer. You have all the ideas. Or maybe you’re someone that doesn’t have any ideas. 

Either way, you’re likely overcomplicating it. 

So let’s uncomplicate it. 

Here’s a two-step process you can use to identify what business to start.

What’s your problem?

You’ve got problems, right? We all do. And maybe you’ve encountered a problem that you were able to overcome. Or maybe you’re working to overcome it right now and have some great advice to offer other people. 

Therein those problems lies an incredible business opportunity.  If you’ve got this problem, likely thousands or millions of other people do, too. 

When I launched my freelancing copywriting business, I had a few problems:

  1. I wasn’t using my writing skills as much as I wanted to.
  2. I wanted to find a way to make a little extra money using my writing.
  3. I was becoming discontent working for someone else and wondered if there was a way to work for myself. 

So I got to work creating my business that eventually crossed all three things off my problem list. I know others who have all three of those problems. And this leads into the second part of the formula…

Outline how you overcame that problem and turn it into a system

I overcame my problems by launching a freelancing writing business. The business of me writing copy for other people is, of course, a business in itself. But I’ve also been able to branch out and expand my business into other channels by showing others how to do it, too. 

Today, I’m building coaching programs, tools, and resources for freelancers and copywriters to show them how to launch their businesses or freelancing ventures. I do this through both my personal experiences and the research I’ve done on the topic. 

People are looking for easy-to-follow systems to help them solve their problems. If you can effectively give them a blueprint for how to do that, you have a goldmine, my friend. And having the credibility that you went through the problem yourself is a first-hand experience your audience will value. 

A bonus option

Talk to other people and find out what their problems are. Then create systems to solve those problems. 

You can talk to friends, family, and acquaintances for free and find out what they’re struggling with most and then develop solutions from that feedback. These solutions can be physical products, digital products, services, coaching, mentoring, and more. The possibilities are endless. 

Stop overcomplicating your business idea. You don’t have to have it all figured out when you hit that launch button. You just have to have ENOUGH figured out to offer some sort of value to someone. Starting with your problems, finding solutions, and then sharing your solutions system is a winning combination to help you get started. 

Leave a Reply