I was talking to a friend the other day who would love to start her own business. She wants to be free to travel while also being able to bring in an income.
So this got me thinking on how to choose a business idea that’s right for you .
My story: choosing a business, twice
I sold my first 2 businesses when we moved from Auckland to Cambridge. We had Ruby 4, and Jack 2, and they kept me busy enough mentally to not need my own business as mental stimulation. Once in Cambridge, we had Bella and then Maggie. When Maggie was 3, I found myself quite organically, just thinking of businesses again. Previous to that, starting another business would have been well beyond me.
What I learned from my first two businesses
My first 2 businesses offered products. In Blooming Beautiful we sold secondhand maternity clothes on behalf of others. So I needed a full room to be available for the stock and then each client would have that room as a changing shed. I booked individual appointments at home for this business.
I wasn’t holding any in stock here as the clothes still belonged to my sellers but it took up physical space.
With Lioness, we sold breastfeeding tops. So we were holding stock that was either ready to go to a retailer or for orders coming in via our website. Here we needed physical space and we had money held in existing stock and also keeping money aside for future material ordering and production, not to mention, packaging etc.
Choosing a business idea the third time around
This time, I had 4 children aged 3-10 and as I was thinking of starting another business, things were different. I wanted to earn some extra money and use my brain for something other than meal planning and housework.
So when deciding which business to start, straight away there were restrictions in place.
I found that having these parameters actually helped weed out any business ideas that weren’t suitable for our needs at the time.
Also dispositionally, I am creative, I am efficient and I love to make things better. I am good at problem solving and I get great pleasure in taking an irritating issue and working out how to make it better.
So my list of non-negotiables looked like this:
- Being able to be home with my young children ( had 3 at school, 1 still at home)
- I wanted a service not a product due to lack of physical space and not wanting money held in stock
- Something creative that satisfied my personality
- I was willing to retrain but had limited hours available
- I needed very flexible hours as my kids could get sick and need time off school – and I wanted work I could still do with them sick beside me.
- I would be working from home
The moment it clicked: my landscape design story
Then one day I was visiting my cousin, and they had had a landscape design plan drawn up for them. And I remember thinking “what a waste of money!” I come from strong DIY parents, they did everything themselves, so the mentality of paying someone to tell you what to plant seemed odd.
Anyway, we both had our own homes. They were following their plan as they had the time and the money. As the weeks passed, their place just blossomed. It looked so good. They were planting the right trees, shrubs and groundcovers. The gardens were interesting and looked fabulous.
My garden on the other hand was a different story. I was buying random, unnamed cheap plants from the dairy. And guess what? These unidentified plants grew way too big for where I planted them. I put gardens in, then realised that area was shady and nothing would grow.
Comparing the 2 gardens, my cousin and I concluded that hers looked like the botanical gardens and mine like a cheap playcentre.
I could now see the benefit of having a professional landscape plan drawn up and then being able to implement the plan ourselves.
So I looked into retraining as a landscape designer. I found a reputable qualification that I could do over 18 months online!
This ticked all the boxes.
How to choose a business idea that fits your life
When you are wondering what business to build, start by writing your list of boxes that need to be ticked.
Begin with Essentials, then Ideals and lastly Hopefullys.
You saw my list above, now grab a piece of paper and make yours.
ESSENTIALS & NON-NEGOTIABLES – these are the deal breakers. No compromises here.
Where do you want to be working?
Do you, like me, need to be working from home (clothing repairs, proof reading, ironing)?
Or are you ok needing to be out (dog walking, care taking, garden maintenance) ?
Are you wanting to provide a product (bespoke birthday cakes, handmade candles, jewellery) or a service (window cleaning, dog grooming, bookkeeping)?
How much time do you realistically have and how flexible do you need to be?
Can you work school hours only, or evenings?
Could you still get it done with a sick child home on the couch, or does it tie you to set appointment times?
Are you willing to retrain? If so, how much time and money are you happy to spend?
What can you realistically invest to get started?
Do you want money tied up in stock, or not?
IDEALS – you’d love to have these, but if you can’t it’s not the end of the world.
Do you want this to be a creative endeavour?
Would you love to work with people or prefer to be on your own?
Do you want this to grow into something bigger or keep to just you?
Do you want to use skills you already have, or learn something completely new?
HOPEFULLYS -this the cream on top. Dream big here
Do you want to be able to travel while working?
Could this one day replace your wage, or even become the family’s main income?
Need some ideas to run through your list? Take a look at my 7 Low Cost Businesses to Start from Home and Service Businesses Ideas for Women to start with skills you already have, then see which ones tick your boxes
Your list won’t look like mine, and that’s the point
My friend’s list and yours will look very different from mine.
My friend’s top priority is earning while she travels. Mine was being home with my kids. Yours might be to never leave the house in winter. Different priorities, different lists, but the exercise is the same.
Your next step
Once your list is made, I have something further for you to consider. Watch my free class here on the very first step when considering starting a business. It’s 30 mins long. Keep your paper with you because you’ll want to take notes.
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