Is having a business idea even necessary and how easy is it to find one?
"Excuse me, Mr. Zac, can we talk after your meeting with my boss."
"Sure Stella. I have some time to kill until my Uber shows up."
Stella works as a secretary for a small real estate firm.
And although, it isn’t part of her job, she’s also the one who usually do the interior designs and stages the homes for open houses and house showings.
But Stella doesn’t care – she loves it.
She even wants to start a business doing just that.
So much so, that she has even been taking classes on interior design for almost a year now.
And according to her, “it’s going great”.
Well, this is our conversation after my meeting.
Stella: Um, I haven’t told my boss yet. So please keep this conversation between us.
Me: Ok? What’s this about?
Stella: I’m ready. I think it’s time to quit and start my business.
And I was hoping if you could help me with a few things.
Me: No problem.
So, what will be your unique offering?
Stella: I don’t understand?
Me: I mean, do you have a business idea yet?
Stella: No, I don’t. Is that even necessary?
“to have or not to have“
Me: It’s your business. You can do whatever you want.
Stella: Alright then. Besides, I’m a very good designer, so.
Me: I don’t doubt that.
But, if you want:
- the time, effort and money you’re going to invest to be fruitful.
- to be more confident in your decisions and what you want to do.
- and even a little chance at success; so you won’t quickly go out of business, wondering how things went so terribly wrong.
Then, Yes. A business idea would be really necessary.
Stella: Ooh.
So, how does it work? How do I get to have a business idea?
“coming up with ideas“
Me: First off, making a decision to go into business, isn’t a business idea.
For instance, deciding to open a retail store or a food stand or auto repair shop or even distribute goods, isn’t a business idea.
Stella: Ok.
Me: With that said, there are many ways to come up with a business idea. But the usual way, is by:
- solving a problem in the market,
- offering something different but better,
- or, coming up with a new and better way to run your business and make profits.
Stella: Oh. Ok.
Me: And, it’s even better when your idea ticks all three boxes.
Stella: Yeah, I guess.
But I’m not currently aware of any problems that I could solve though?
“looking for problems… to solve”
Me: Are you sure?
You’ve been doing this for a while now. It could be anything.
Stella: Well, there’s one thing that has been bothering me lately.
I don’t know if it qualifies as a problem.
Me: Spit it out.
Stella: Ok. So, I usually get great feedback about my designs and staging whenever we do an open house.
People love it.
They usually say they would love to have someone style their homes like that.
But I tell them how much it costs, and then, they quickly walk away.
Cheap bastards!
Me: Yep, that’s how problems usually look like and also what we call, a business opportunity.
You’re lucky.
Stella: Nooo, I don’t feel lucky.
Me: Isn’t this what you’ve been studying and preparing for?
Stella: Not really. Besides, all I see here is an obstacle of cheapskates.
So how’s that an opportunity?
Me: Yeah, business opportunities don’t actually come in gift-wrapped boxes tied with a beautiful ribbon, like most people think.
They are actually problems or obstacles.
Stella: Ok. So, how does a problem become a business opportunity?
Me: A problem only becomes an opportunity, when you have the skills and resources to:
- solve it,
- and turn the solution into a profitable business.
Stella: So, you mean, if I can solve the problem, then it’s an opportunity for me.
Me: Exactly.
Stella: Ok, how do you suggest I do that with my ‘cheapskate’ problem then?
“turning problems into opportunities”
Me: Well, first off, do a little research.
Your job already gives you direct access to many potential clients.
Stella: Of course.
Me: Find out if there are a lot more people out there, who want their homes to be styled or decorated but can’t afford the usual costs.
And, how much they can afford to spend.
If what you find is promising, then move on to the next step.
Stella: Ok.
Me: And here’s the fun part.
Use your skills and what you know to create design concepts that’ll suit their tastes and pockets.
Stella: Hmm, I think I can do that.
Me: There you go.
Stella: Whoo!
Me: Alright, alright, alright. We’re not done yet.
Stella: Ok. I’m calm.
Me: Now, to the most important part.
Test the designs with few clients.
First, it’ll help you adjust and perfect your designs and price points.
Plus, it’ll also let you know whether it’s really possible to offer those affordable services and still make profits.
If it’s indeed possible, then, you’ve found a business idea.
Stella: Well, I guess I’ll have to postpone quitting my job.
Me: Yep.
Keep it for now and use the time to do the initial preparations for your business.
You can go full gangster when you have something that’ll give you a real chance at success.
Stella: Whoo! I feel a bit lighter now. Thank you very much.
Me: You’re welcome. My Uber is here. Good Luck.
Small To Sprout 