You have SO many ideas and things I want to do … and I have no idea where the right place to start is.
As creative entreprenuers we ALL have a million business building ideas swirling around in our heads. New product designs, new marketing tricks, content ideas, whole new businesses you can start, new products to add to your line…the list goes on and on.
It can be challenging to decide which one is the right one to focus on at the right time. You can to throw a boulder into a pond to make a giant splash…not a handful of pebbles. One big idea at a time- maximum impact.
As a visibility marketing coach, I help people generate these ideas in addition to implementing them and have learned a very valuable lesson along the way:
Just because you have a good idea does not mean it is your “money maker.” Some ideas are better than others, and some ideas are not necessarily a good fit for your business, at least they may not be yet.
I’d love to walk you through a coaching call I recently had with one of my clients to get a better understanding of choosing which ideas to focus that lead to MONEY.
Chasity Campbell, CEO and founder of Chasity Campbell Co.
Meet Chastity, she is an ambitious business woman who has SO many things she wants to do with her gifts and magical secret sauce. We had a 1-1 coaching call where we were able to talk about all of her ideas. What we quickly realized was she didn’t need help generating ideas but rather idea-streamlining and focusing on one idea at a time and deciding which one was going to lead to the most revenue.
When you get into the idea-generating portion of your business, it is easy to get caught up and not consider which idea would serve both your time and your business the best. An easy but nonetheless harmful mistake to make for your business. Anytime we’re feeling overwhelmed or caught up in the amount of ideas we have or things we want to accomplish, try, or change, unsure of what path to follow…I follow ONE rule of thumb. Follow. The. Money.
Having one idea that you are pursuing will provide you with clarity and direction. It will help you clarify your goals, strategies, and objectives. One of the main things that is achieved when picking one focus is brand building. A clearly defined and unique idea can make your business stand out from your competitors and help you build a recognizable and strong brand for your audience.
When trying to narrow down your ideas, ask yourself…
- Which idea is currently making you money that you can go all in on even more?
- Or what idea has the potential to be added organically to make you more money?
- What idea would help differentiate your business from those in your same market?
Let us take a look back at Chastity’s business for an example…
Chastity sells candles.
These candles are clean, non toxic, limited quantity, hand-poured in handmade cement vessels and they are gorgeous. You buy the candle, she ships it to you, you burn it, love it, and so on…
However, she also has a refill program, making her candle line sustainable. You buy one candle, reuse the cement jar, and can join her refill subscription to try new scents or go all in on scents you love.
This refill program/subscription is her “money-maker” idea.
This is where she needs to be focusing her resources and her time, follow the money!
All of her ideas are awesome and have potential but they are going to take longer to make money from and, in the meantime, are going to take away time and resources from her “money-maker”.
So…follow the money. Focus on the idea that is bringing in revenue, maybe add some upgrades to the existing idea, and once all of that is on autopilot, generating you consistent sales, only then, is when you move on to your next idea that will add to your revenue.
Your takeaway: Focus on that money-maker!!!
Need some help on identifying your money maker? Would love to chat! I have a Back Pocket Coaching Call you can snag and I’m yours for 90 minutes as we narrow your money maker down and form a plan on how to market it to maximize your sales. You can learn more about that call here!