But how do you choose what to focus on when you have soooo many great ideas!? I get it. I'm a super creative entrepreneur too. I have new ideas every time I shower or go for a run (or a few beers...). But without a focus on a single idea, none of them will develop into a sustainable business because you will not persist.
For those new to my work, the definition of a 'business' is that you are selling something and delivering it for cash. If you are not making money, sorry buddy, it's a hobby.
The way we help clients focus on one idea in their business is to align this idea (product, target market, campaign) with their highest core values. Then you will naturally focus as it's what you really want to do.
When we talk about values we are not discussing right and wrong, like The Ten Commandments style. It's how we prioritise our limited resources of time, money and energy. (Thanks for Dr John Demartini for the inspiration for my values work.)
The seven areas we review (in no particular order) are:
Business, 2. Money, 3. Family, 4. Friends, 5. Health, 6. Education, 7. Spirituality
Of course, all of these values are important, but only the top 3 will drive our behaviour and choices. If your business isn't a top value it will be tough to develop a work rate sufficient to build a strong business as your other values will get in the way.
For example; let's say Family, Friends and Health are your top values and Business number 4. It's time to do those proactive sales calls or write your blog for the week. But you have to pick up the kids from school, then you are invited by a friend for a drink and you wanted to squeeze in a run too.
What do you do? Do you put your kids in after-school care, say no to your friend and do your run, or do you get your work done? When it's your own business you can choose how you spend your time as you are your own boss, but that is a double edge sword as you lack accountability.
If your highest value was Business you would choose to do the work, perhaps not all the time, but enough to make your business thrive. If you prioritise other areas of your life most of the time, you will not have sufficient time to run a sustainable business.
Once you know your highest values, ask yourself how this particular idea supports all of your values. Try to come up with 20 ways this particular business model, product, target market or campaign support your health, family, friends etc. Once you start matching your core values to your work, it's far easier to say yes to work and no to distractions.
It takes 10-12 hours a day 5 days a week to run a strong business generating an income to match a corporate job.
That level of effort requires persistence. Persistence comes from matching your 'Why' to your business. When you truly believe that your business will meet your long-term goals and values, you will have the inspiration to continue in the face of setbacks and challenges.
If you know that your business serves others, believe that it can make money to support you and confidence that you can do it, you will persist.