What’s The Big Idea?

You may have thought about going into business because you had a revolutionary idea, or because you do something really well and wanted to answer to no one but yourself, both of which are very admirable. Though you could be like me and you just have the desire, but no direction.

Choosing your product or service is a big decision. What’s important is to look at the big picture, your life plan. What is it that you love? What are you willing to do? How much time do you have or are you willing to give?

I am not willing to sacrifice much in the way of time, family is too important to me. I need something that will mimic a 40-hour work week in the long run. There are several options to consider here and mostly you need to think of who your customer will be. Customers will dictate the vast majority of how, where, and when your business will operate. You can choose from:

• Business-to-business services
• Wholesale Distribution
• Retail Distribution
• Consumer Services

The first two options are going to more closely resemble a 40-hour work week, because your primary customer is a business that most likely conducts business within normal business hours. The latter two are consumer driven and tend to require more time and longer hours.

For me, my passion is financial guidance. I like directly affecting people, but this is where time constraints come into play. Having my business focus on financial business services for small business customers seems like a no brainer. They are more likely to want to do business during business hours, and I can still have a personal impact on the owner(s). Don’t get me wrong, the answer didn’t fall on my lap, it took some research to get there.

There is no need to narrow your focus into specific customers or market just yet. This will come naturally as you define your market and look at your market’s needs, which we will discuss in depth at a later date.

-Rebecca