Part 2 of 4 in starting your own business venture.
In part 1 of 4 of starting your own business venture, the 5 Key Components of the Perfect Business Idea, I examined a few things you should possibly consider when looking to start a venture on your own.
And in this second post, we’ll take a look at those components— your strengths, skills, interests, customer’s ability to pay, and willingness to pay– as well as how I came up my my own business idea about 2 years ago.
In 2017, I worked as a Forensic Nurse, and I am a board-certified as a Sexual Assault Nurse Examiner. In this work, I had the opportunity to care for patients following sexual assault, intimate partner violence (domestic violence) and other intentional traumas (e.g., gun shot wounds, stabbings, etc.).
Also in this work, documenting the care and treatment for these patient populations has a few different elements than how a nurse would typically document the care of a patient on a Med/Surg unit or in the ED. Similarly, we document care, treatment and patient education.
With patients following sexual assault and domestic violence, we document with the consideration of the intersection of a patient’s medical needs along with needs that can affect them in the legal system as well… including collecting evidence from potential crimes (like photographing injuries and swabs for “rape kits”), collecting specimens for toxicology testing, and routinely providing medication that treat or prevent illnesses or patient conditions (for instance STIs and pregnancy).
And recommendations from a highly recognized association of forensic nurses suggest that documentation on such patients be kept separate from typical hospital records.
So how did this prompt me to start a venture of my own?
Component – My Interests
I became interested in this practice of separating an individual’s medical forensic record from the documentation record typically gathered during the process of an ordinary patient care in hospitals or clinics. I began to ask other forensic nurses and programs across the country about their practice and their documentation methods.
My greatest surprise: Finding that many programs still document on paper or use pieced-together hybrid models of paper and electronic charting.
Component – My Strengths
I’m a curious creative– an innovator. I seek to solve problems with uncomplicated solutions. I’m a visionary with independence in thought and possibility. I see the big picture and understand how digging into the details in order take action is needed to succeed. I’m also patient, yet persistent.
Component – My Skills
I’m pretty savvy with technology, and figure out new software pretty quickly. I also have a knack for planning, communication, and design.
My interests, strengths and skills led me to create my own personal venture…
Taking into consideration all of the above– my interests, strengths and my skills– I decided to take a leap and build a technology solution for forensic nurses and programs to help them better care for patients following trauma, to be discussed in a future post.
And what about you?
How can you examine what you have to offer when looking to start a business on your venture?
Here are some steps to help you get some clarity.
The purpose is to get you clear on your strengths, what you enjoy, and what people could and will actually pay you for.
And this intersection is often referred to as your “sweet spot” or business idea!
So let’s consider the following:
- Consider 3 of your strengths. What are they?
- Examine your weaknesses. List them.
- What are your skills?
- What are 5 things you really enjoy doing in your personal life?
- What are 5 things you really enjoy doing in your “day” job?
- Now… using the above, what ideas do you have about starting a business? (Hint: It may be something that’s already out there…. I have an example below).
- Also, is someone else out there already getting paid for your idea (or by doing something similar)?
The above questions can help you decide on or affirm your business idea.
Say you’re great at connecting with teenagers, teaching or speaking on historical topics, obsessed with Paris, and organizing large events.
A potential business idea: Starting a business where you create an after-school, extracurricular program where you work with schools to organize historically-themed field trips during the school year and during the summer (domestic and abroad)– helping students learn about the history and cultures of the various places they visit (e.g., Paris in Lights: a 7-day tour abroad of the history and culture of the best-lit attractions in Paris at night).
And let’s not forget our weaknesses: Your weaknesses will be aspects of your business idea that you may have to delegate to someone else when they involve moving your business forward. For instance, financial accounting may not be your best asset, so this may be an area of that you would have to delegate to a part of your team.
What do you think? Any business ideas running around in your head. Tell us about it in the comments below. Also note that the perfect idea can take time to develop and can be an evolving process, so don’t get discouraged if you have many ideas and can’t decide on one just yet. That’s completely normal.
And check out part 3 of 4 on creating your own business venture here: Getting Clarity on Your Ideal Client in Business.