How To Choose The Business That Is Right For You- Tip No. 03
I took a short break from my series on how to choose the right home business for you to celebrate my daughter’s birthday. She absolutely loves birthdays and I absolutely love celebrating her life so we’ve made a week or two out of it!
Isn’t that what makes home businesses so great though?! The ability to work your business around your life instead of work your life around your business is such a blessing!
Just this week a former co-worker posted a picture from three years ago of me in Times Square during a company training. I will forever be grateful for my time at my former company and the leaders that influenced and trained me. However, on that same morning that I saw the picture, memories flooded back from that trip. It came on the same day that I was celebrating my daughter’s birthday.
That was a whirlwind month for me where I traveled for three weeks straight. Who knows how many times I packed and unpacked my suitcase to go from airport to hotel to airport to hotel. From an amazing ski resort in Salt Lake City for Ralph Lauren Men’s training to New York for Ralph Lauren Childrenswear training to Tupelo for a new store opening. That was the year that I fought back tears as I wished my two-year old daughter happy birthday over FaceTime. That was the year that I decided that there had to be another way and I was going to figure it out, no matter what it took!
I have no idea what your motivations are for wanting to start your own business. Maybe it is to spend more time with your family. Maybe it is to get out of debt and take steps towards financial freedom. Maybe it’s to fulfill your calling. Whatever those reasons may be, I want to help. That is my motivation for sharing everything that I’ve learned about business building with you. I have a passion for seeing all those with an entrepreneurial spirit thrive in their businesses.
So let’s get back to the third tip on deciding which home business is right for you. I am a huge believer in personal development. I follow a top thought leader named Seth Godin.
Here is what he has to say about business:
“You have two choices when you want to move forward (grow a business, sell an idea, get a ‘yes’):
1 Have such an insight and deliver such innovation that people will choose to make a new decision, adopt a new habit or otherwise get smarter.
2 Provide an option that matches a decision they’ve already made. No new decisions, merely new information.
Most of the time, we look for patterns that match our habits. When we find a pattern match, we can embrace it without re-evaluating our beliefs.
Human beings are pattern-matching machines. Changing our beliefs, though, is something we rarely do. It’s far easier to sell someone on a new kind of fruit than it is to get them to eat crickets, regardless of the data you bring to the table.
It’s tempting (and important) to improve the world by creating new beliefs. But it’s far more reliable to match them.” Seth Godin
That brings us to …
Tip No. 3:
Take something that your customer is already using and make it better.
From your list of potential businesses, take a look at the products or services that they provide.
Do they offer something that your ideal customer is already using?
Is your product or service superior to what your ideal customer is already using?
Will it add value to their life or elevate it in any way?
These are things to consider when deciding which business to choose. It’s very easy to fall in love with a company because you like what it sells. However, will it “match a pattern” in your customer’s life.
Do you remember me mentioning my accessory business? It was absolutely amazing to me! I loved the product. However, most people do not have a place in their monthly budget designated towards accessories. This is something in the fashion industry that is known as “fringe” and is typically the first thing to go when finances get tight.
However, most people are already purchasing items such as food, vitamins, cosmetics, skincare, etc. on a monthly basis. They have already budgeted for these items.
If you can offer your ideal customer something that they are already purchasing, but better…you both win!!!
Let me stop for a second to clarify that this is not the only way to be successful. I have several friends who are wildly successful in their home businesses that offer products or services that do not fall into this category.
Did you know that according to gallup.com(http://www.gallup.com/poll/156416/americans-spend-151-week-food-high-income-180.aspx) Americans spend $151-$180 or more per week on food. That works out to $7.19 to $8.57 per meal!
Do you know what you spend per meal? If you’ve never looked into it, basically take your monthly food spending and divide by 90 to get a total dollar amount per meal. How do you feel after eating your meals? Are the foods that you consume improving your life by offering superior nutrition or are they a means to just survive?
When I was introduced to my “forever home” business, it really was a no-brainer for me. Once I began using the products and saw the changes in my energy, focus and clarity from this amazing nutrition, all for less than half of what the average person spends per meal, I knew I couldn’t keep it to myself.
Where can you find something more basic than food? And nutrition that really lights you up from the inside and excels your daily performance? This is what I mean by taking something that your customer is already using and making it better. I had found food but better!
More than nutrition, they also offered one of my favorite basic needs…coffee. And they even found a way to make it better. Who knew that you could even make coffee better?
So I want to challenge you to do the following:
- Make a list of your values, passions and interests. Research businesses that align with them.
- Go through your list and determine if these companies give your customer a strong reason to buy each month.
- Which companies offer your ideal customer something that they are already using but better in some way?
You should be getting closer to making an informed and thoughtful decision as to what business is right for you.
Stick around because I have two more tips coming soon.
If you found this information of value, let’s connect on Facebook! I would love to hear your story.
As always, I am cheering you on and wishing you a healthy, happy week!