The Truth About Maximizing Business Ideas and Making Them Profitable
We’re in a generation of better, more competitive, and creative entrepreneurs. It’s not anymore surprising to know that the world overflows with business ideas from different innovators, and business enthusiasts. You can notice these with today’s abundant blogs, podcasts, and aspiring leaders. It’s not enough to just stand out from the rest. If you want to have financial freedom from a new business, you need to do more.
We know, it can be difficult, especially when all this time you thought you were giving out more, and everything of what you can give. Just believe us when we say, yes, there are better things that you can do, and change in what you are doing today. We were not aware about it as well, until we learned about Dorie Clark, author of the newly released Entrepreneurial You.
Clark had been there, had done that. She, too, thought that being busy means being successful. Several years ago, Clark measured her success to how hectic her schedule was. Until one day, she learned that being busy and being exhausted, do not necessarily mean she’s also financially successful. In fact, all the bustle and hustle didn’t even fuel her soul.
The truth slapped Clark, and awakened her. It all happened when she was on a trip from Central Asia. During that time, she was earning lots of money, she was travelling on a glamorous business class flight, but she returned home sick due to a cold that was persistent for weeks. Clark shared the story of her friend, whom while she was away, made almost the same amount that she did from the comfort of his home. From that moment, she knew she had to spread a valuable lesson.
In Clark’s book, the Entrepreneurial You, she emphasized that most entrepreneurs focus too much on making money from one or two business activities, like consulting and speaking. This is why they fail to see more opportunities that can give them the financial freedom — earning their desired income without trading time. Clark added, employed individuals who are doing side projects are also preventing their selves from earning more, and all the while losing the balance between work and life. Clark believes diversification is the key. It enables a person to earn more, while reducing risks, such as being unemployed.
When asked how you can turn an unknown person into someone with a thriving name in doing online programs, Clark answers, “You don’t”.
“I laid out the book in the order that I think people should pursue things keeping in mind cost and what you can do effectively, even if you don’t have a pre-established product. You can do a coaching practice with no money up front. This doesn’t take much of a following. If you were able to persuade someone to hire you as a coach.”
Clark describes a three-step process of sustainable business monetization, which leads to having a solid foundation: creating your brand, earning from your expertise, and enhancing your reach and your online impact. It starts with establishing yourself as a credible expert, building your own community, and creating programs that your followers would want.
Clark also advised that you must study your audience. Get to know them, and their needs. “Find out what they’re interested in so you can build products from the ground up so you don’t waste time providing products and services no one is interested in,” says Clark.
Many entrepreneurs can relate to this one. The typical route is to create a program or a service out of intuition, which ends to be something that nobody wants. It’s a common mistake in execution. Apparently, Clark says, the answer is to study your audience first, and then create something they want from there. That will ensure repeat business.
It can be a long and technical strategic planning. There’s no short cut to the top, but it will be worth it. Clark’s Entrepreneurial You, exposes all the steps to success, as well as the mistakes she has done in the past, which you can avoid. In this generation where big business ideas fleet everywhere, it’s not enough to just come up with the best one. Profitable ideas must be something valuable for others. Then, create a revenue stream that will help you stay afloat, and provide to the next wave of followers.