Hello and welcome to my blog. It is a great pleasure to be able to connect with you in this community.
In this post, I share a video of tips to help multi-talented, multi-skilled and multi-passionate individuals who are desiring to start their own business in order to be their own boss. So, if you are one of such people, I am sure you will find this helpful and useful.
Being a multi-skilled person myself, I got to that point of being torn in different directions, totally confused about the very first step I needed to take in order to successfully launch my first business.
The year was 2005. I had just graduated from the University a few years earlier. Done with the National Youth Service Corps in my country, I worked in an IT company before my wedding in 2003. After, wedding, I relocated to a different part of my country but didn't have a job.
I had my IT skills, Teaching skills, Baking and Cooking Skills. I wanted to start an IT based business but that required a lot of financial resources which I didn't have.
I thought of going into baking and cooking, but that required a lot of resources as well, both financial resources and catering equipment. Apart from the needed resources, that line of business is totally demanding (all businesses are demanding, mind you 😊).
After some back and forth, my husband suggested I start a school. What? That also meant that a lot of money was needed to launch. But that was the most bankable skill I could monetize at that time.
So, How do I identify my bankable skill? I knew that would be your big question. Here is my answer in the following steps:
Make a list of all your skills, passions and talents.
On a scale of 1-5, score each skill on the basis of knowledgeability, resources available, experience, time available plus passion.
Tabulate your scores and compare results for each skill.
The skill, talent or passion with the highest score is probably the most bankable, and the most easily monitizeable skill at the moment.
Whatever skill you decide on, that is just the beginning. Business needs client's patronage to be able to grow and survive. So you will need a strategy to attract and retain clients.
What do you know about thesr prospective clients and their needs? Without a proper understanding of your audience demographics and the problems they need solution for, you will not be able to create offers, products and services that address these needs.
It is important to note that you are not the only one with the skill you have. There are always competitors, and there will always be competitors. How do you plan to stand out from your competitors?
And one more thing I would like to mention is this: it is possible to launch out alone at the initial stage, but definitely you will need a team at some point. It is important to keep this in mind from the beginning.
Back to my story:
So I started my first business using by monetizing my teaching skills in 2005. Seven years later, I and my family were forced to relocate to another part of my country, and at this time I was able to start another business with my baking and cooking skills.
Currently I am trying to work out using my IT skills to start an online business. So, seems like I have come full circle, haha.
Thank you for reading my post watching the attached video. I hope you found it useful.
All Images used in this post are mine.
Video link is from my account on 3speak.tv