Want to start a side hustle but don’t know how to choose the business idea that can turn your unique gifts, talents and personality into your dream business?
Having been through the process of building my side hustle and eventually left my corporate job, I would love to share with you the steps I took to find out my sweet spot business idea, which I have now built into a full-time business supporting the lifestyle I desire.
I hope it will give you some inspirations to find out your sweet spot so that you can have a much clearer vision of your path and it will become easier to move from doubt and fear into confidence and action.
Step 1. Authenticity and Alignment
In order to find out the business idea that reflects who you are and fuels your desires and make your heart sing, you need to have the solid foundation of authenticity and alignment. Really take a moment to connect with your emotions around why you want to start a side hustle and go into business, because it’s this emotional juice that’s going to fuel your actions, energise your message and allow you to step forward as the face and voice of your business and brand.
Now fill in the blank:
My business exist to help __________________________________________________;
My business allows me to __________________________________________________;
What will happen if I build my business?
__________________________________________________;
What will happen if I don’t DON’T build my business?
__________________________________________________;
For example, here are my answers:
My business exists to help female entrepreneurs turn their dreams into reality - one brand at a time and create soul-stirring beauty in their brand and life.
My business allows me to wake up every day with passion and excitement, do what lights me up and utilise my full potential and talents; have the flexibility and freedom to do it whenever and wherever I want; surround myself with like-minded talented and successful beautiful people.
If I build up my dream business, I’ll be working for myself with complete freedom, loving my work, and helping others create a brand and lifestyle they love. I’ll have combined all the things I love and believe in into my business and brand.
If I don’t DON’T start my business, I will have to stay at a 9-5 job and work for someone else. I’ll be working hard to build someone else’s dream, instead of creating it for myself.
Step 2. The Hidden Treasure
Put on your detective hat and start looking for the clues that will lead you to your sweet spot business idea. Everything in your life has prepared you perfectly to create the business you most want. Once you start mining the treasure, you’ll discover how the design of your life has led you to the specific industry and audience you’re most inspired to serve, and you’ll tap into a deep well of inspiration and purpose that motivate you to move forward.
In case you don’t know or haven’t heard about the discovery of African Diamonds, here is the story as retold by the author and speaker named “Phil Callaway”.
"During the years when diamonds were first being discovered in Africa, a farmer was intrigued by the promise of great wealth. Only one thing stood in his way. His farm had to be sold before he could set off in search of the diamonds that would make him a wealthy man. At last the deal was done and he was free. Free to pursue his dream.
The search was long and painful. Trekking mile after weary mile across deserts and plains, through jungles and mountain passes, the farmer searched for the elusive diamonds. But none could be found.
Finally, penniless, sick, and utterly depressed, he took his own life by throwing himself into a raging river.
Back home, the man who had bought the farm carefully tilled the land. One day as he was planting a crop, he came across a strange-looking stone. Carrying it to the farmhouse, he placed it on the mantel.
A visitor to the farmer’s home saw the unusual stone over the fireplace, examined it, then turned to the new owner of the farm and said, “You have found one of the largest diamonds ever known to man.” Further investigation revealed that the entire farm was literally covered with similar magnificent stones. The farm sold by the first farmer turned out to be one of the richest, most productive diamond mines in the world.
One hundred years ago, Dr. Russell Herman Conwell traveled the United States telling and retelling this story. One hundred years later, we still need to hear it. You see, just like that farmer, too few of us take the time to investigate and polish what we already have. In our disappointment with the way things are, in our quest to get ahead, we fail to recognize the wealth in our own backyard. And we end up walking over untold riches every day."
Have you considered that what you may be searching for is already hidden right in your own backyard? In my upcoming workshop "From Passion to Profit", I will share with you the exercises to mine the clues from your past and find your “diamond”.
Step 3. Strengths and Passions
Your strengths and passions are what will guide you to your sweet spot business idea. There are lots of exercises that can help you uncover your zone of genius, or the hidden strengths and skill you may not realize you have and explore how to turn them into a profitable business idea. You can also ask the people in your life what they see in you as sometimes it’s just impossible to see yourself clearly. Another way to get insight is through personality test. Here are some tests I recommend:
Step 4. The Sweet Spot
Your sweet spot business idea is the perfect intersection of what you love, what you are good at and what the world needs. Your business idea must solve a very specific and acknowledged market need and your target clients are willing to pay to have their problem solved. You can use your strengths to help them solve the problem and you enjoy doing that.
In my upcoming workshop "From Passion to Profit", we will dive into the three P model and look into the criteria which are absolutely essential to business profitability and success.
Step 5. Test Test Test
You now have a great idea, and you’re ready to dive into the side hustle. But, are you sure your idea is viable? Before investing and building all your brand assets, you need to test your idea’s true potential and get feedback from the market.
Good luck, hustler. As soon as you start stepping into your new entrepreneur identity and building your dream side hustle business, you’ll realize doubt and fear are a normal part of the process. Action is the key so that you won’t let these emotions paralyze you. In my upcoming workshop "From Passion to Profit", I will help you create 90-day side hustle plan to get you into action towards your dream business. Hope to see you there.
Elva xx