Choosing a Business That is Right For Me

Today’s 30 Day Blog Challenge is all about choosing the right business model for me.

Following is my chosen business model as well as the process I used for narrowing my vision to just one (not an easy task for an infovore).

My Business Model: Selling Myself

Because that may sound odd to some, the longer answer is: Teaching skills I have learned to others.

For most of my life I have been really good at learning things. From classwork in school to tasks necessary for completing whatever project I am working on. Now I have an opportunity to make a living helping others while doing what I love to do.

There are lots of people who enjoy doing new things and they feel compelled to take the D.I.Y. route whenever possible. Unfortunately (or fortunately, for me), many of those people think they are do-it-yourselfers, but they need a little help along the way.

In fact, this group of people is not afraid to ask for help, or even pay for help, as long as they can take all of the credit when their project is finished. Works for me!

Why do they need help?

1. They don’t know what they are doing, but they still want to do the project rather than hire someone to do it for them. It’s a matter of personal satisfaction in a job well done.
2. They don’t have the money (or the willingness) to pay someone who does know how to do something they need done. For example, it might cost $2500 to hire a contractor who could quickly complete their project. As an alternative, they could learn how to do the same thing with a course, guidebook and system that cost $250, or 10% of what the contractor would cost..

When you really want to do something yourself but you don’t know how to do it, this can lead to frustration or even anger. That’s why a quality course, guidebook and system would be so helpful . . .

. . . and, that’s when I show up. My first step will be to identify a number of niches that seem interesting to me or in which I already have experience.

What will I teach?

There are, literally, dozens of options. The key is to find my “sweet spot.” How? Look for a place where existing knowledge and interests intersect with what people want or need.

Once I identify a few options (skiing, photography, mountain biking, basket weaving, etc.), there are a few key questions to be answered:

1. Are any of those topics more in demand than the others?
2. Are people already paying for a product or service in any of those areas? If the answer is “yes,” I could:
   • Create a better product
   • Create a service that goes with an existing product, e.g., “How-To” instruction on how to use an existing product
   • Create videos and/or screencasts explaining the product and how it might be used in different ways, more efficient ways, more profitable ways, etc.
   • Create add-ons to existing products, like apps, specific examples and case studies, charts, drip email instruction, web applications, etc.
3. Would products or services for any of those topics command a higher-price than for other topics?
4. How long will it take to bring a product or service to market for each of those topics?
5. Does any one topic lend itself to faster development and deployment?
6. Am I more excited about one topic on the list?
7. Is anyone already doing something similar?
8. Can I improve what is already being done?
9. Can I partner with someone who is already doing something similar?
10. Is one more difficult to explain than the other?
11. What is the potential market size for each, and is one more promising than the others?
12. If I build a product or service for one topic, is it something that can easily be modified to serve another market? For example, maybe the product template can be licensed to others who will use it to serve other markets where I have little or no interest.

What one revenue stream is most feasible?

eBooks with Tiered Pricing for Packages

Why? Because I am pretty good at writing and editing, people like getting immediate access to helpful information, the value of my product can be proven by paying customers, and tiered pricing makes it possible to create strong revenue streams. You can go here to learn more about why I chose this topic.

Here are a few more reasons:

I am most comfortable working alone or in small groups. This will allow me to write books and brainstorm associated products without having to go out and sell anything – at least in the beginning.

Research is one of my strengths. Most people I meet give up too early when they are looking for a solution. Even without high-end Google search acumen, I can often find things that others can’t. That has value when what I find is packaged to help a large or small group of people.

It is very inexpensive to get started. What I need is the desire to learn and teach what I learn, starting with what I already know and continuing to move forward, learning more along the way.

How do I want to be known?

• As a teacher who over-delivers and whose product(s) are underpriced for the value given.
• As a recognized expert in a field where people come looking for me rather than my having to find them.