Starting a business

Over the years, in different versions & languages, this is a question that I often hear aspiring entrepreneurs ask.  “What type of business should I start?”  “What’s a good business to get into?”  “How can I make money on my own business?”   “How did you start your business?”

There is no one cut and dried answer to this as I believe starting a business, running it and growing it must be congruent to each individual’s own unique set of talents, skills and experience.  Not only that, but it must also match what your market needs and wants.  One of the best ways to start a business is to figure out what you can offer.   What are you good at?   What do you like to do that others can find value in?   Is there a product or service that you can fill in the marketplace that is unique and can set you apart from your competition?   What are you passionate about?   What would make you want to wake up each day ready to face the world?   Each of us has something special to offer.  Each of us has our own unique abilities and passions.   Don’t be led just by what everybody else is doing or what somebody else tells you to do.   Just because somebody made millions selling hamburgers doesn’t always mean that it’s a good business for you to get into.   What if you’re a vegetarian?    You’ll be burned out of the burger business in record time.  And don’t be discouraged if there are a bazillion other people doing what you’re wanting to do either.  Sure there may be 5000 other real estate agents in your town, but maybe you’re a marketing genius that can make a fixer-upper sound like a mansion and can use that to set yourself apart.   You need to be really clear on what value you’re trying to provide, because you can’t just open shop and sell stuff and hope to get a piece of the pie.  80-90% of new businesses are already doing that, and 95% of them are closing shop within the first 5 years.

I always hesitate to answer questions of how I got started and the details of how I run my business when it is asked by someone who is also trying to figure out what business to get into.   It is not because of the potential competition, but because I don’t want to give the person the idea that anybody can do what I’m doing.   Don’t get me wrong, what I currently do is not hard for me, and anybody with the right motivation can probably do it.  I consider a lot of it play because I truly enjoy the business, the freedom and the creativity it allows me.   Even if I had 50 million dollars in the bank, I’d probably still be doing what I’m doing.   But for someone that doesn’t have kids, hates kids, does not believe in cloth diapers, can’t even talk about poop without gagging, or has no passion or interest in this business other than just to make money, my business would be a big mis-match for them.   Now if I was talking to a mom who’s had 5 kids and has a lot of enthusiasm and support, my response would probably be completely different.

I’ve seen several people try to do what I’m doing and have failed miserably.  Why?   Because all they were after is the money.  They knew nothing of the products, how they worked, how they are used, or who their customers were.   Something as “niche-y” as manufacturing reusable diapers truly requires one to have a higher purpose or a true passion for the industry than just making money.

You can’t open a business with just the sole purpose of making money.  That is probably one of the worst ways to do it.  You have to be driven by something else other than just money, because owning and running your own business will just about take everything you’ve got–mentally,physically,  emotionally, psychologically & financially  Once your material resources runs out, you’ve got to be able to dig deeper to pull your way through.  Running after the money is almost always never a good way to start & stay in business.  Yes, you do have to mind your numbers, but you also don’t want to be constantly looking at each potential customer as lunch.  If you focus on the real value that you are providing and are able to convince your customers of such, the money will come.

Start with trying to figure out how you can be of service to others.  See what you can create that brings people joy or make their lives easier.