How to create your best big-impact business ideas
“Solve a problem” is the traditional advice on creating a great business idea. This is totally valid, but what if you can’t think of a problem you want to - or can - solve?
Here’s another way of looking at idea generation for a business. My clients love this method and I think you will, too.
You, as the entrepreneur, will always be far more successful and fulfilled if your business is creating a positive impact that you care about. In other words, linking your purpose as a human to your business, is like putting your success on turbo charge.
So, to generate the best big-impact business ideas, you need to look internally at yourself, at your story and at what you find meaningful.
Before you ask “What? I need to know my purpose before I can create a business?!” - let me share some ways you can use your purpose, or “life mission” as I like to call it, as inspiration for a business.
When I help my clients identify and monetize their own life mission, I get them to generate ideas by looking at what’s led them here, as well as what potential they have.
Here are a few of those questions, so you can generate your own ideas.
Identify 3 peaks in your life
When have you been in flow or at your best? What have you done that felt incredibly fulfilling? Why was that?
I spent 3 months mentoring entrepreneurs in rural Kenya and it was one of the most fulfilling things I’ve ever done. Why? Because I was using all my strengths and skills to help others succeed, and that totally floated my boat. I didn’t know it at the time, but it was giving me huge clues about what my purpose-driven business was meant to be.
How do your peak points inspire you today?
Identify 3 troughs in your life
When have things felt at their worse? What did you learn? What would have been easier? What troughs have your friends/family experienced?
I look back at my time at McKinsey as a bit of a low point on a personal level. I felt I was operating at 60% of who I could be, I was a consistently exhausted pigeon and I struggled to find the work meaningful.
I realize now that I’m not the only one who thinks their work is meaningless. It’s a horrible feeling. I’m on a mission to help people get out of that position by showing them how to use purpose-driven entrepreneurship.
How do the troughs in your life inspire you to make things better for others?
What ticks you off? What breaks your heart?
These two are great questions for identifying the things you really care about.
I have a gift for seeing the potential in people; I can literally see the delta between who you are today and who you could be. But this means it breaks my heart when I see you wasting your greatness by not reaching the heights I see in you.
When my clients (and friends) reach new heights it fills me with joy and it inspires me to keep going when business feels challenging.
How do the things that tick you off or break your heart inspire you to take action?
What do you find fascinating? What would you be willing to become an expert in? …or maybe already have?
We’ve often gained expert status in something without even knowing it, and even just knowing a little more than the person behind you is enough to create a business out of.
I love skincare (but suck at make-up) and I love weight training. Could I turn these into a business? Absolutely!
How do your interests and knowledge give you opportunity to help others who want to know the same?
Now the important part
If you’ve taken the time to brainstorm answers to these questions you should now have a list of clues and inspiration for business ideas.
Do you see any themes? What do you care about most based on this list? How can you monetize this inspiration?
If you want a fool-proof plan to monetizing your life mission, I’ve created a training just for you.
5 must-have ingredients you need for monetization
an exclusive invite to my tight-knit community of like-minded impact makers monetizing their own missions
and, an opportunity to get personal feedback from me
Just enter your email below and I’ll ping the link straight to you.
Love and success,
Coach & Business Strategist