Your Business Mind

Preparing for Business Success

What is your Business Mind?

Before you can make money in your own business, you need to think like a business person. In the business world, you need to understand what business is about and how you fit in. That is where your Business Mind comes in; it is like a compass that helps direct your thinking toward business thoughts and business success.

Most people think that business is only about making money. What they don’t know is that to make money, you need to give people a reason for giving you their money. You need to give people value for their money; their moneys worth. You do that by solving a problem for them, or you give them something that satisfies some hunger in them.

Moneys worth Examples

Here are some examples of problems and solutions:

  • Not enough money – help people to make money by teaching them how and by providing tools or honest business opportunities.
  • Unemployment – help people to find a job or business
  • Broken plumbing – fix their pipes, or provide reports on how to fix broken pipes
  • Not enough time to do everything – provide time-saving services
  • My tomato plants keep dying. Teach me to keep them thriving.
  • My dog keeps chasing the neighborhood cats. Teach me to control my dog or give me some good cat recipes (just kidding).

Here are a few hungers and their satisfiers:

  • Boredom – give people something that will cause enjoyment; maybe games or something interesting to read
  • Feelings of uselessness – teach them how to cook or play piano to entertain others
  • Loneliness / lack of a mate – teach people how and where to attract friends and mates
  • Hungry for good food, but can’t cook or don’t have time – run a good restaurant or food delivery service

Those are just a few examples of important problems and hungers that people spend millions of dollars a year on. Many business owners make good livings by solving these and other problems. Your Business Mind will help you to spot ways to give people their moneys worth.

Find Your Business Niche

In order for you to become a successful business person, you need to find a hunger or problem that you feel comfortable working with. This would be called your “business niche,” or your “niche market.” You don’t need to invent something new. Many people become wealthy in businesses like hamburger stands, dry cleaning shops or delivery services.

For a long time, people have been getting wealthy by providing people with information. People have been selling "how-to" books, plans and courses for years in book stores and by direct mail. More recently, people have been making big money marketing information on the internet. These are all examples of business niches that provide people with what they want.

Now, if you want to own a successful business, you will want to invest some time in the following exercise:

  • Grab a pencil or pen and some paper.
  • Find a quiet spot – in the bathroom, if necessary.
  • Make a list of problems and hungers that people have.
  • If you get stuck, think of places where you have spent money in the last few days. Has anyone asked you for advice lately?
  • After you run out of ideas, go back over your list and think of solutions to the problems and hungers.
  • Go over this list and put a check mark next to those that interest you or that you know something about. This is important, because you don't want to get stuck doing something you don't like.
  • Put this list away for now, but come back to it once or twice a day for the next week.
  • Add to the list as you think of any new thing.

The above exercise will start your business mind to look at the world a bit differently. You will start to realize that one person’s problem may be another person’s opportunity. You also have a list of opportunities that you have in interest in or have some knowledge to solve.

Also, by now you may see one or two things that excite you. Circle those things. Chances are you may have now found your “niche.”

You now have a bit of a Business Mind, or business mind set; you are now on your way to being a successful business owner. Most people never get this far.

That was pretty easy, wasn’t it?

“Obstacles are those frightful things you can see when you take your eyes off your goal.” Henry Ford

Increase your success chances with Basic Accounting Knowledge

To improve your business mind even more, see more about how to Find a Niche.

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