How to Narrow Down Your Creative Business Ideas
So you’ve decided to start a business based on your creative passions.
Celebrate that and own it Creativepreneur!
The thing with being a creative is we’re multi-passionate. It can be hard to decide what products or services you should focus on when you love to paint, letter, knit etc. And even when we pick a medium - say calligraphy - you still have to narrow down your niche.
Someone in my free FB group recently asked how she could narrow down her ideas. These are the 5 questions I suggested she ask herself.
Remember that while we’re multi-passionate, that doesn’t mean you should start a business based on ALL your passions or sell ALL the things. Your brand gets muddled and your customers may get confused if you do all the things.
Ok - on to the questions!
#1 Can you actually earn revenue from it?
A great way to check is researching others who are doing/selling something similar. Don’t worry about market saturation here. The fact that there’s someone else selling something similar means there’s an audience for you! Remember you’ll add your own unique spin to your business and products/services.
#2 Could you see yourself doing this/selling this for awhile?
Yes, businesses pivot and sometimes even change names, but could you see yourself (for example) creating planner inserts or doing calligraphy name cards for the next 3 years? If that doesn’t sound appealing to you - creating this thing for others instead of for yourself - that may not be the right product or service for you.
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#3 Is it shiny object syndrome or FOMO?
What I mean by this is are you only considering offering this product or service because it seems like you SHOULD do it? Taking calligraphy for example, do you want to offer wedding envelopes just because you see so many others doing wedding envelopes (but secretly hate envelopes LOL)? Please listen to what you really enjoy doing because this is your business and you can do/offer what you like.
#4 Can you risk falling OUT of love with it?
Say you have an interest in painting, lettering and knitting, but think you want to start a business based around your watercolors. Real talk, you risk falling out of love with watercolors in this example because you’re now doing it for others. You’re creating customer pieces or creating based on what will sell well. It may cause you to stop enjoying the process. This feeling may come and go (it did for me and lettering a few months ago), but you need to be ok with that and also be ok with trying to fall in love with the art again.
#5 What’s going to be the easiest/fastest to set up?
Even though this is your business based on your passion, it’s still a business. That means you need to make sales or you’re just a hobby. So is there a service you can offer faster than a product? Or vise versa? Is there something that will have a lower cost to entry?
So, if you’re not sure about what your initial offering should be, ask yourself these five questions and see what comes up.