There is one thought I want you to consider today, “Is the industry the problem, or is it my idea?”

Falling in Love

So, you have a brilliant idea. You just know that it will make you a ton of money.

What do you do if it does not?

If you fail to make changes to optimize your business for profitability, you are likely in love with an idea. Not all ideas are going to generate the profits you wish to see. Acknowledging that fact will save you a lot of heartache later.

Love the Industry

Not to say that you shouldn’t love what you do. You should! What you need to do is fall for the industry you wish to enter.

By finding you love the industry, it gives you room to pivot your idea. It creates more open space for profitability once you get started. It still utilizes your skills, just in a less restrictive manner.

If you love this idea, then you have likely researched this industry already. That means you already love the concepts held within. Now you just have to make sure your idea aligns with what people will buy. If not, then pivot to something within that passion that is profitable.

I’ve Been There

I have personal experience in the act of pivoting within an industry. It was a necessity if I wanted to succeed. Like many others, it started with an idea I loved, too.

Stitched Delights by Angela LLC formed out of necessity. I needed some way to make an income from home that would not be hindered by my disabilities.

I crocheted products for money, as many crocheters do.

I learned quickly the importance of in-person sales. There was no real money in product sales otherwise. Online promoting was time-intensive with very little reward (personally and financially).

During my time in product sales, I discovered this was a common problem. I also noticed a connection to crochet businesses and mental health. Even hobbyists were crocheting and talking about their mental health.

I researched the niche and Stitched Delights pivoted. I decided it was time to love the industry I was in and not the idea.

I assure you, there were many little pivots involved between that starting point and where I am now. I digress, pivoting was required if I wished to ever succeed.

MYB Community

If you have experienced this same issue in your business, tell me about it in the comments below! I may discuss your story in the April newsletter. At the very least, your comment may help another entrepreneur avoid this trap, too!

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Credits and References
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Feature Photo by AS Photography on Pexels.com