Woman Around Town’s Editor Charlene Giannetti and writers for the website talk with the women and men making news in New York, Washington, D.C., and other cities around the world. Thanks to Ian Herman for his wonderful piano introduction.
The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy
Okay, let’s kick around the concept of a “great business idea.”
If possible, let’s kick it to the curb.
I know this may disappoint some of you, especially after you’ve spent years developing the “big idea.” Don’t worry, it may be helpful later, but when starting out, an idea on paper is, well, a paper idea. However, my very unscientific and proprietary invention, the Good Business Idea Detector, does look at some key data points to assess if there’s an increased chance of success for that sketch on the back of a bar napkin.
In nearly every industry there’s a new idea generated every, oh, I’d say, every second or less. Are some of these ideas better than others?
Certainly.
But only on the cocktail party circuit.
We could discuss the value of a particular business idea for hours, but I rather not. I’ve heard so many they start to sound alike.
The reason for this is that a paper idea is based on unproven value and nothing changes that. There are so many factors that come into play when developing an idea that nobody can tell if it truly is a great idea. (Do you really think you would have invested in the ThighMaster if you had the chance?)
In seeing lots of new businesses make it while others struggle, I do find a few things make even average ideas look as though they had potential.
Here are a few factors that can make your idea a more effective one:
Do you know more than the average person about the potential market for this product or service?
In hearing years of business pitches I’d estimate that 90% were too heavily product-centric. As much as these businesses thought they were talking and thinking about their customers, they only did so to validate the demand for their product. Don’t do this! Always focus tons of attention on the customer; their behavior may be a good indicator of how they will see your product or service.
Do this: we will discuss better ways to understand your customers down the road, for now, take out a piece of paper or in the notes section of your smart phone, and write down every single thing you know about these people who are going to willingly give you their money.
How much do you believe in it?
If nobody believes in your idea, it doesn’t matter, if YOU believe in it. How many stories could we insert here about the rejection a musician or architect or product designer faced before making their work a reality?
Do this: write one sentence about why you believe in this idea and include one fact along with all of your gut feelings
Does your idea explicitly and clearly give more than what the customer already has?
Again this is about adding value. An idea that is creative and great for a target audience may be just that, creative and great, but if it’s not worth the cost, it won’t float.
Do this: make a list of things you pay extra for, laundry detergent, sneakers, and bottled water as examples, and write down why you pay those extra few cents for each. Try to capture the reason in one or two words such as “convenience” or “trust.”
Now do one last thing for today – email me your business idea and I will respond with an assessment. You want me to sign an NDA? No way. Okay next time we discuss the ins and outs of NDAs.
Jason Veduccio, author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy is a hard-working entrepreneur following his dreams, and he wants you to dream, too. Drawing on his experiences working with companies on marketing, technology, hiring, and workplace issues, his regular column will demystify the job search process and identify strategies for moving up the corporate ladder. Founder of In1Concepts, Jason also knows the ins and outs of launching a new business. He welcomes your questions and can be reached at jason@in1concepts.com.
You have your two lists: the one with things you want to improve on and the other a list of things “to do.”
It may look like this:
List A
Things I want to improve
Public speaking
Piano
Kick-boxing
List B
Things that other people need
Driving kids around
Financial planning
Shoe repair
Nothing jump out at you so far?
Try for a moment, to think of this as a puzzle, and to put it all together you have to consider the many possibilities. Could you become a concert pianist? No, you say. Okay, fair enough.
Are you a competent financial planner? Definitely not you say. Fine then.
So what good are these lists, you ask?
If you already know what business you’d like to start ? but just don’t know how ? then stay with us, because we’re coming back around to move forward in just a moment.
For anyone who doesn’t already know: putting things down on paper is the best way to work through something inside your head. Look at what you wrote and spend a few days thinking about each item. Say you know nothing about, nor would you enjoy working in shoe repair. What is it about shoe repair that made it come to mind? (Yes, I know the items on the list were my idea.)
Suppose people in your neighborhood have been asking you for a good shoe repair shop. What’s to stop you from finding the best shoe repair shop around, and then create a pickup and delivery service for shoe repair? Work out a deal with the shop and you may get a fee plus a markup price. Your hands never touch a brush. This is called adding value and it can be done in an infinite number of ways. It’s about creating or delivering something that is more helpful to someone than before you touched it.
We could go through anyone’s list and pick almost any item and think of ways to add value.
This is Main Point #1: Always think in terms of adding value – ahead of anything else. That means instead of trying to be “number one in your industry in five years,” or instead of worrying about “blowing up Twitter” with your new brand, think about how you can add value to anything.
This is the mindset that can make or break your business before you even begin. And if you already knew what it was you wanted to do, you also need to ADD VALUE.
Back to our lists. You say you’re only an average pianist? Ok, can you teach it to beginners? Remember this – you don’t have to be great at something to help others = add value.
Use the two lists as a jumping off point. Add items in either column. Reflect on what you’ve written. If you are stumped by this question you need to sit back and really think about what it is you can do to start a business. It’s not a sign you shouldn’t have your own business, it is just part of the process to really think this through. It’s not unheard of to spend a year or more thinking about this alone. Here’s a little tip though – the best ideas are often so obvious we don’t see them until they are “activated” through necessity.
If you need to do some reflecting, bookmark this section and come back when you’re ready. For the rest of you, next time we take your “added value” idea and start to build it.
Jason Veduccio, author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy is a hard-working entrepreneur following his dreams, and he wants you to dream, too. Drawing on his experiences working with companies on marketing, technology, hiring, and workplace issues, his regular column will demystify the job search process and identify strategies for moving up the corporate ladder. Founder of In1Concepts, Jason also knows the ins and outs of launching a new business. He welcomes your questions and can be reached at jason@in1concepts.com.
If you have a great idea, or even if you don’t, you can start your own business.
It won’t be easy. But you can do it.
You say you don’t have the time? Stop.
You don’t have the money? Oh please.
Don’t have any big new ideas? Whatever.
Whatever it is you’ve been telling yourself stops here. Are there some exceptions to what I’m saying, are there some people who can’t start their own business? Absolutely – but you’re probably not one of them.
In this series, I will get you up over the hump.
For those of you that don’t know what you’re going to do, ask yourself the following two questions. (And for those of you out there already with an idea, follow along and see how it holds up to these two questions):
What do want to do well?
What needs to be done?
What do you want to do well?
Picking to do something you like is a high priority for many. However, I think that’s often a questionable move. “Liking” something doesn’t mean you want to do it when you DON’T want to do it – which is the definition of work. There are so many books on this topic already, and my take isn’t much different, save for one thing – I think you should pick something you want to do well.
What do you like doing, that you’d enjoy being better at, and learning more on – even working for free just to improve? As I will say many times, I have no science beyond common sense behind this method, but when you find an interest you want to do better at, and add to it a demand, you’ve found an income stream somewhere in there too.
Having a business means standing up against competition and if you are out there enjoying yourself, but really not all that interested in the quality of your output, there’s going to be a problem. Improving, even at the novice level, means you have knowledge others may want.
What needs to be done?
Find or think of 2-3 skill areas or endeavors in which you’d like to improve. Look around you and find things that people need done. Use your first question as a lens. Are you a great organizer? What isn’t being organized well enough in your area of interest? When people have needs they are likely to pay someone to meet them.
Next put the two together and see if there’s any obvious overlap. None? Then take it back a step and think of other skills you may like to learn. It doesn’t have to be a “Google” type idea, it can be small and maybe only for a small market to begin. Some may say those are the best ideas.
Make these two lists and continue to work on them for next time: when we begin to choose a path.
Jason Veduccio, author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy is a hard-working entrepreneur following his dreams, and he wants you to dream, too. Drawing on his experiences working with companies on marketing, technology, hiring, and workplace issues, his regular column will demystify the job search process and identify strategies for moving up the corporate ladder. Founder of In1Concepts, Jason also knows the ins and outs of launching a new business. He welcomes your questions and can be reached at jason@in1concepts.com.
The U.S. Department of Labor released its November jobs report recently saying total nonfarm payment employment rose by over 200,000 and the unemployment rate is now declared to be 5.8 percent.
Why should you care? There’s one very important reason and then a few smaller ones.
I usually tell people who are looking for a job to turn off the television news because generally speaking, it’s too easy to be swayed by the moods of others. At the same time it’s important to seek pockets of positivity to build your inner strength.
Here’s one of those pockets of positivity, and we should leverage it to push ahead. So if you’ve stopped looking for work or just recently need a new job, understand that it may be a good time for you to take action.
Want more reasons to send out your resume?
It’s that time of year. 27,000 retail jobs were added in October, showing some of the attitudes merchants are taking for the upcoming holiday season.
Industries are growing. Healthcare added 25,000 jobs in October. That’s a 12-month average of over 20,000 per month.
Businesses are growing. Professional and business services gained 37,000 jobs last month. These tend to be better paying jobs and it shows signs that small and large businesses are hiring.
Use this information to inspire you to send out more resumes, learn about other industries and meet new people. That’s always going to translate to better opportunities for you and the economy.
Jason Veduccio is the author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy. Click to buy.
Whether you have a dream and want to pursue it or you’re lost and have no idea what to do the answer is to get a part-time job.
The way the world works is changing and yet some things remain the same. One mainstay of growth in these turbulent times is the value of part-time work. Perhaps more importantly is that the role part-time work plays in our lives is on the verge of becoming more prominent. I see part-time work as central to the new economy with many of us working for various entities in “full-time-part-time” scenarios in the future. Imagine having three part-time jobs that add up to more money and satisfaction than one full-time job.
Harness the powers of a part-time job by closely examining what a part-time job really is. Let’s leave all preconceived notions behind and view a part-time job as any effort you make outside of your full-time job. It doesn’t have to be something awful and it doesn’t have to even be a real job when you start doing it. For example, consider starting your own business as a part-time job and you will see what I mean.
Why is part-time work the answer?
Opportunity. If you take a part-time job in an area you want to go into, it gives people a chance to see your work without taking on all of the full-time employee costs.
Networking. Almost every part-time job means growing your network outside of the usual suspects.
Learning. Use a part-time experience to learn ANYTHING. Constant learning is critical in today’s work world.
Money. Oh yeah, that too.
Who should work part-time?
Everyone. But of course I don’t mean CEOs and millionaires, right? Wrong. Here’s a little secret CEOs and millionaires know–they already have part-time jobs. Most successful people don’t leave their big time positions at 5 o’clock and go sit on the couch at night. They serve on multiple corporate Boards, give speeches at schools, help non-profits, and may even run other companies.
You. I know you don’t have time, you don’t know where to begin, and it all feels overwhelming. Those are problems you can overcome. Trust me, if you just start thinking differently about many of these obstacles they will soon crumble. The first thing you need to do is to not hear “part-time job” and feel it’s a bad thing. For two weeks straight allow yourself to think of a part-time job as something fun.
How to work part-time?
Follow your passion. This is your chance to do something you like. So do it. If you like knitting, sell knitted socks. If you love bowling, write advice on how to win and post it online. If you make the best apple pies, start selling them around the holidays. Don’t take on a part-time job you hate unless you promise yourself it is only a stepping stone.
Start small. Don’t quit your day job. Use your weekends wisely. Work long hours? That’s okay, start your own business by paying attention to it for 20 minutes per day, every single day. Like compound interest, it will add up.
Help someone. Find a need and fill it. Drive an older person to the grocery store. Fix someone’s leaky faucet. Give fashion advice to the prom crowd. Helping others is the best way to help you.
Changing the way you think of part-time work is the first step in pursuing your passions, career advancement, and personal growth. In 20 minutes a day you can launch a new world of opportunities. This is how the world works.
Jason Veduccio is the author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy. Click to buy.