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Best Business Ideas – Figuring Out Where to Start

Transcript

0:00
hello I’m dr. Shannon Reese and on
0:02
today’s episode of spotlight on success
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I am starting a brand new series that
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I’m really excited about sharing with
0:08
you and I am going to be addressing some
0:11
of the biggest business challenges that
0:14
women business owners have been sending
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in to me looking for solutions and today
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we are starting off with a challenge
0:21
from Michelle Morton who writes I am a
0:25
mom preneur my biggest challenge is I
0:27
have so many ideas and don’t always know
0:29
where to start I research on the
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internet but it can get overwhelming as
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I am trying to do as much as I can on my
0:36
own without having to pay someone to do
0:39
it I’m very organized and I know how to
0:42
map out and make a plan but I am just
0:45
not sure where to start when you know
0:48
where you want to end if like Michelle
0:51
you’ve had moments where you just
0:53
completely felt bogged down by your
0:56
ideas you had a lot of things going on
0:58
your mind a lot of probably really great
1:01
ideas to consider and we’re just unclear
1:03
about which one to go after first I want
1:07
you to stay tuned for today’s episode
1:09
where I’m going to share a three-step
1:12
filter system that you can use to really
1:15
kind of whittle down those choices and
1:18
get on to the business of moving your
1:20
business forward and that’s what you
1:23
have to look forward to on today’s
1:24
episode of spotlight on success
1:49
as I mentioned in the introduction I am
1:53
starting a brand new series addressing
1:55
some of the biggest business challenges
1:57
that women business owners are facing
2:00
and today’s challenge comes in again
2:03
from Michelle Morton and Michelle thank
2:05
you so much for submitting your
2:07
challenge I think it’s especially common
2:11
for creative types and I’m one of them
2:13
to you know get into that place a lot
2:17
that place of overwhelm and I’m never at
2:20
a loss for a great idea I’m just not
2:23
they pop up all the time but it’s what
2:25
do you do with them that makes the
2:27
difference I need to determine whether
2:29
or not this is just another shiny object
2:32
or if this is something that I really
2:34
need to sink my teeth into deeper and
2:37
possibly shift some stuff around to
2:39
actually put this in place and move it
2:41
ahead but the point is to actually have
2:44
a system that you run your ideas through
2:47
so that you can filter out the ideas
2:50
that are good versus the ideas that are
2:53
spectacular and also determine you know
2:56
do I need to do this right now or not so
3:00
let’s go through this three-step process
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Michelle I wanted to tell you that the
3:04
advantage is that you already know where
3:07
you want to go and that is a huge huge
3:11
part of the puzzle so the fact that you
3:13
already know where you want to go is
3:15
great and now it’s just a matter of
3:17
processing through all of those ideas so
3:20
that you know that you are moving
3:23
forward in the most direct efficient and
3:27
and Swift us way possible to keep
3:30
growing your business so so step number
3:32
one does this idea align with your
3:35
highest priorities if you watched any of
3:38
these videos or you have read any of my
3:40
blog posts I tend to talk about the
3:42
importance of really understanding what
3:44
your highest priorities are to create
3:47
and sustain a successful business you’ve
3:50
got to know what they are and so start
3:52
there because that’s what will allow you
3:56
to be successful in business and in life
3:59
so if you don’t know what those five
4:00
highest priorities are take the time to
4:03
you’re them out what are those
4:06
non-negotiables those things that you
4:08
have to have in your business and life
4:10
in order to have what you’ve always
4:13
dreamed of having and the hint that i
4:15
always like to give is that you better
4:17
be number one on that priorities list
4:19
for many important reasons once you’ve
4:22
got those down on paper then post them
4:25
everywhere so it’s a constant reminder
4:27
to you every time you have a new idea
4:29
pop up there’s the reminder you know
4:31
have it on your computer does this fit
4:34
into an align with my highest priorities
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if not then you know it’s probably out
4:40
of the running at that point the second
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filter is will this provide a direct
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return on investment that I can measure
4:47
and track sometimes you just need to put
4:50
some skin on your ideas and they might
4:53
seem great for them from the inception
4:55
but will they really have the substance
4:59
to deliver and that’s what you have to
5:00
determine asking yourself that question
5:03
the second filter and a great way to
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figure this out is by you know starting
5:07
by doing a simple mind map and I’ve
5:10
always loved the concept of my maps and
5:12
I have to be honest and say that I
5:14
actually only in the last couple of
5:17
months started using them myself in my
5:19
business and i have to tell you how
5:21
refreshing it is to offload my ideas and
5:25
clear my mind by putting it down on
5:28
paper putting it down on a mind map and
5:30
then i can go back to it from a
5:32
completely different perspective and
5:34
really look at it from a different angle
5:36
with a different set of eyes a fresh
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mind having gotten all the noise out of
5:41
my head so i highly recommend mind
5:43
mapping and you begin with that core
5:45
idea and from there you branch out
5:49
brainstorming the who the what the where
5:52
the when and the how so let me give you
5:55
some examples of questions that you can
5:57
ask yourself with regard to you know
5:59
creating those branches who will do the
6:02
work if you’re a solo entrepreneur then
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more than likely the responsibility is
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going to fall on your shoulders you’ve
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got somebody else that you can hand this
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off to whether a virtual assistant or an
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intern
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even better the wet part what amount of
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work will need to be done to get this up
6:22
and running do you have the systems in
6:25
place to roll this out do you have the
6:28
resources at your disposal to help you
6:31
figure out what you need to know that
6:33
you don’t already know but asking
6:35
questions along those lines of the what
6:37
the next is where can you recruit help
6:41
expertise support to help you make this
6:45
idea into a reality is this something
6:48
that you can do now the wet when can I
6:51
reasonably expect to get this done
6:53
looking at your schedule looking at your
6:55
calendar in your current workload when
6:57
can you reasonably expect to have this
6:59
done and lastly how will I fund this
7:02
idea do you need to invest money in it
7:05
to get it off the ground first and
7:07
foremost and then second part of that is
7:10
how much can I expect in return
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financially from my investment whether
7:16
it’s just an investment of time and
7:17
energy what are you going to get in
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return what’s the bottom line number so
7:22
that you know that from a revenue
7:24
standpoint this is moving your business
7:26
forward the third filter is asking
7:29
yourself is this something I can and
7:31
should do now so your idea may have made
7:34
it through filter one and number two but
7:37
then you have to determine is this
7:39
something that makes sense for me to do
7:41
right now or is this something that
7:43
maybe I want to put off for a couple of
7:45
months this is what you have to decide
7:47
make sure that with this final filter
7:49
that you’re not going to sacrifice
7:51
yourself or any of your other highest
7:53
priorities by trying to squeeze this in
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so examine your calendar and determine
7:58
if now is the time to start or not you
8:00
might be able to shift some things
8:02
around to get it in now you might have
8:03
some natural openings to do the work to
8:07
roll it out or you may need to put this
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off get over some current projects that
8:13
you’re working on and plan to start it
8:16
at a date a little bit further down the
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road you know it’s really great to be a
8:20
dreamer and to express your brilliance
8:23
in by birthing new ideas all the time I
8:26
love doing that myself but before you
8:29
jump into action
8:30
take some time to really determine
8:31
whether or not you know this is just a
8:35
good idea or if this is a fantastic idea
8:38
that’s really going to move your
8:40
business forward when you’ve got ideas
8:42
and you’re trying to determine where to
8:44
start make sure that you take it through
8:46
this three-step filtration process so
8:49
that you know that you are making a
8:51
smart decision to move your business i
8:53
had if you found this tip helpful today
8:56
i would absolutely love it if you would
8:58
take a moment to share it with your
9:00
peeps you have a lot of choices i know
9:02
you can tweet it out you can pin it you
9:04
can share it on facebook or you can give
9:07
me a google plus shoutout and if you
9:09
want to stay on top of my latest
9:11
episodes on spotlight on success i
9:13
invite you to subscribe to my youtube
9:16
channel i would love to have you in my
9:18
tribe be great to have you here so
9:20
please come on board and if you have a
9:23
big business challenge that you would
9:26
like me to address on a future episode
9:28
of spotlight on success please contact
9:31
me at dr. Shannon reiss.com I would love
9:35
to hear from you until next time I
9:37
challenge you to keep shining brightly
9:47

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