How to Narrow Down Your Business Ideas 2020
The opposite of not knowing what you want to do is having too many ideas and not knowing which one to pursue. This especially became the situation this year when the majority of us found ourselves at home, with more time on our hands and the sound of our bank account draining as background music. There is no better time than the present to narrow down your business ideas for 2020. First, let’s talk about the struggle with too many business ideas in 2020, not sure which one will actually pan out the best, but you are afraid of letting them go and focusing on only one. Or worse, what if you pick one and it's the wrong one. I’m here with good news - no such thing as picking the wrong business idea. You either pick one or the other. Why do you have to choose one business idea in 2020? Starting too many projects at once is only going to lead to you feeling overwhelmed and burned out with very little progress made. This is actually one of the biggest mistakes aspiring entrepreneurs make called context switching. I go into a long explanation in my FREE masterclass which you can watch here of what context switching is and how to avoid it. Before you can even decide on an idea to pursue, you first have to decide what your end goal is? I like to refer to this as your “why”. Why do you want to start a business in the first place?
Is it to make a million dollars, is it to have more control over “for sure” income?
Is it to create a lifestyle where you can spend more time with your family?
What is your motivation?
What lifestyle do you want to achieve?
For example, you want to have more time to do the things you love? Then you would want to pursue a business idea in 2020 that can run smoothly on either autopilot or by a team you outsource to. Or maybe you want to have multiple clients worth an x amount of dollars and you are being paid your worth and your time isn’t maxed out? Then focus on business ideas in 2020 that will allow you to reach that amount as quickly and efficiently as possible. If time is a big part of your “why” then keep in mind where and how your time will be spent. Because time is a valuable currency. Then pick the business ideas in 2020 that support your why and narrow it down even further.
Still struggling with narrowing down your business ideas 2020? Let’s jump on a 30-minute discovery call together and determine which idea is the best one for you moving forward so you can start designing your business today!