Could You Profit From Your Talent or Passion?

If you’ve always longed to make your living from a passion or unique skill, don’t let life get in the way. The world is full of people with unfulfilled ambitions – so decide you’re not going to be one of them.

Debbie Gilbert is author of The Successful Mumpreneur, a blueprint for any woman with entrepreneurial plans and a number one bestseller in Australia, Canada and the UK. Here she reveals how to come up with the spark of a business idea that you could turn into a red hot business.

But What Line Of Business?

The Passion Idea

If you have a hobby or skill that makes you happy, could you turn it into a side hustle or business? Brainstorm all the ways you could make money from it, the different markets you could target, the products or services you could provide. Could you coach others in your special skill? Can you find a niche that’s relatively unserved? Will people actually spend money on your products or services?

Bess Sturman left a successful corporate and legal career after her third child to launch Sturman and Co Interior Design. “It had always been my dream to design interiors, furniture or buildings and with three children at home I felt there would never be a better time to be creative. I wanted a life where my children and home were central to everything and I could dictate my own hours and work”.

A fully accredited member of the British Institute for Interior Designers, Bess established her award winning interior design practice in 2011, serving both commercial and consumer clients and has even designed for BBC One.

If you’re turning a passion into an income, make sure you’re really good at it. If your skills are a bit basic or out of date, do some training and brush them up so you can compete with the rest.

The Eureka Idea

This is a business idea that comes to you spontaneously. You could be out walking the dog, in the shower or shopping and you suddenly think of something that aligns with your interests and could make be turned into profit. Sometimes an idea is born out of an experience. You get that eureka moment and think ‘Wow, why has nobody thought of this?’

This is where the research must come in. Don’t just ask friends and family what they think as they’ll only say ‘great idea’ and you’ll soon end up flat on your face. The business ideas graveyard is full of dead lightbulb moments that weren’t thought through – and that can end up costing you. Research it properly. You must find a business that you can not only breathe life into but keep alive! Is the idea practical, likely to make money and something you would love to do all the time and in the long term?

Gemma Whates launched All By Mama, a marketplace and community for businesses that are run by mums, in 2014, although the planning started about nine months previously. “We offer our Mamas a place to sell their products, network together and receive advice and support to help grow their businesses. Crowdfunding felt right for us to do this and we wanted to offer our customers an opportunity to share in our business and our future success”.

All By Mama used Crowdcube to raise £76,000. “It’s a great way to raise finance for an early stage business and you also create a group of brand ambassadors who want your brand to succeed”.

The Expert Idea

These ideas come to people who have knowledge and experience of a particular industry which can be used in new ways that people will value. Having the knowhow and contacts means you’re already off to a head start.

Fidelma O’Neill co-launched Off Grid Adventures www.offgridadventures.co.uk in 2018 with husband Tony, specialising in delivering the expedition section of the Duke of Edinburgh Award to schools, as well as outdoor learning and adventures to private groups. “My years of providing challenging learning opportunities to people through the arts combined with my experience as a secondary school teacher and Tony’s qualification as a Mountain Leader and work with youth charities meant we had the right contacts and experience to get our new business of the ground. We’re both campers and hikers and wanted to offer people adventures in the outdoors to improve their health and happiness”.

How could you turn your expertise and experience into a business, and take advantage of all those great contacts you already have? Your idea may not be original, but it might be possible to do things differently or better with new emerging technology, or by targeting a different market. New niches are always a possibility in any industry and adapting your transferable skills and expertise to a target market that needs them can really reap rewards.

Now Dig Deeper…

When brainstorming any business idea here are the questions to ask yourself:

Am I going to do this full-time or part-time?

Do I want a business I can grow so I end up employing people?

Do I want a business which will require investment and will eventually be a larger scale company?

Do I need to invest in myself, e.g. training, official qualifications?

What research can I do in my local area – what services are needed?

What problems can I solve?

Do people need what I’m planning to sell and if so who will value it so much that they’ll pay for it?

What are my experiences of this industry and who do I know who could help me?

Once you’ve answered these questions to your satisfaction and feel sure you’ve got a viable business idea, it’s time to write your business plan and set to work on exciting things like naming your business, branding and logo, building a website and all the many practical steps you’ll need to take before announcing you’re open for business.

Says Debbie “Anyone can run a business if they have an idea or skill that can really create demand. Working for yourself is life changing, challenging and really satisfying. It puts you in charge of your destiny and can give you the freedom to be creative with your ideas and time in ways a job can never do. But there are no short cuts to being a success. While there are many advantages to being self-employed, running a business requires commitment and hard work. The rewards can be huge in so many ways. But go into it with your eyes wide open”.

• Debbie Gilbert is Debbie Gilbert is author of The Successful Mumpreneur, available on Amazon and founder of Mums Unltd www.mumsunltd.co.uk.