MBA2672 Q&A Wednesday: I Don't Have a Business Idea or Any Unique Skills or Knowledge. How Do I Get Started?

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I'll going to walk you through exactly how to get going with your business with real examples, with practical steps and a mindset that could change everything for you. Let's do it. Welcome Back to the $100 MBA Show. I'm your host Omar Zenholm where I deliver practical business lessons three times a week, Monday, Wednesday and Friday to help you start, grow and scale your business. Before we get started, I just want to take a quick second to say thank you for being here. You're a learner, you're a doer, you're my kind of person. And if you want to join people just like you and our growing community of entrepreneurs, hit follow right here in Your podcast app. You grow, we grow, we all win. Thanks, Bruce. The foundation of entrepreneurship is not brilliance, its usefulness. Hear me out. Great entrepreneurs, great business people, they see a problem and they say, I'll take a crack at solving that. They're problem solvers at heart. That's it. Let me break this down. First of all, forget about finding the perfect idea. There's no such thing, okay? The real question is, what problem can I help someone solve? And that's how every great business starts. By solving something annoying or inefficient. Painful maybe, or even just inefficient. Uber didn't invent transportation, okay? They just made it easier to get a ride, right? Airbnb didn't invent lodging, okay? They just made it easier to book unique, cheaper places to stay. Sometimes as a problem solver, as a business builder, your job is to look for pain points around you. What do your friends complain about? What's frustrating you in your daily life? What's confusing or broken in the world around you and the things you interact with. Here's a little exercise I give students inside of the $100 MBA program. And you can just grab a notebook and do this exercise yourself. Spend a week writing down any problem you notice or you hear about from somebody else. Then I want you to ask the question, which of these problems I would enjoy solving? So you're going to literally walk around for a week with your notebook handy and you're going to jot things down. You could do it even in a note taking app on your phone. But the point here is that you're looking out for problems which shouldn't be a problem because there's problems everywhere. The world is very inefficient. I mean, how many times do you hear yourself or others complaining about something? It's because there's a problem and you want to take a look at which of these problems would you be excited to solve? And listen, even if your idea is small, that's a good thing. That's okay. Solving a small problem for a small group of people is the best way to start. In fact, I prefer it. I don't actually recommend you going to try to solve the banking industry, right? That is just too big of a leap for your first business venture. I'm not saying it's impossible. I'm not trying to discourage you. But I'm saying that you can really get a good business going solving a lot less significant problem. You also said in your question you don't have any special skills or knowledge. Let me Stop you right there. Most successful entrepreneurs don't start as experts. I know many, many successful entrepreneurs, and they're not whizzes at anything. They're not, you know, particularly smart or gifted or knowledgeable about any particular thing. In fact, if they are quite knowledgeable in something, they became experts through the process of building their business. I'll give you an example. When I started Webinar Ninja, my software company, I didn't know a thing about building software, but I knew the problem. I couldn't find a tool to run webinars efficiently, easily, in a way that I wanted. So I learned what I needed as I went. I learned what it took or what are the ingredients of a successful software company. And trust me, business is the best school you'll ever attend. And if you're willing to learn, you're ready to start. And listen, I know this is hard because you're going to have to stretch yourself a little bit, get out of your comfort zone and be something you're not today. And that's okay. But that's the cost of business, right? You can't just expect to be successful and start a, you know, successful business if you don't pay any admission. And the admission for you is to push yourself and to learn and to grow. Next, let's tackle this belief that you need some sort of unique knowledge to start a business. You don't, and I'll prove it. Go to Amazon. Go to the book section. Search any popular category, like fitness, personal finance, cooking. You'll find dozens, even hundreds of books on the same exact topic. Why? Because how the knowledge is delivered matters more than what the knowledge is. It's not about uniqueness, it's about resonance. It's about connecting with people in a way that makes sense to them. That's why you have great YouTube channels called dad, how do I? And it teaches young men simple things like how to shave or how to how to tie a tie. There's nothing revolution about this information. There's nothing unique. It's not some sort of special knowledge that this person has, right? It's simple stuff like shaving and how to tie a tie. But millions of viewers, right, millions of subscribers, because there's an audience that needs it, all right? And can relate to the person delivering it.

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You might be sitting on a skill that you think is pretty common, but it's not common to someone else. Teaching people how to use a spreadsheet or how to make a budget or how to meal prep. These are real businesses with real customers, right? There are lots of people that don't know how to do these things. Let me give you a random example. Forget about all my business experiences and all my leadership experience in public speaking. Forget it. All that, right? Let's just pretend I'm starting from scratch. If I was starting from scratch and I was going to start, let's say, a YouTube channel, I would start a YouTube channel on how to buy a used car. Why? Because I have a lot of experience. When I was a young kid, I used to work in a car dealership. I used to wash cars at the wash bay. My dad was to sell cars, and I used to go to work with him and I used to observe all the salespeople. I used to know what makes a good used car because people trade in their used cars. Cars. And I would wash them, right? I would know what to look for. I know what makes are reliable and which makes are not so reliable and what to check for when you're buying one. Now, I'm not a mechanic. I'm not an expert, but I know cars more than the average person. I know what to look for when you're buying a used car. So my information would be useful to somebody who is looking to buy a used car and therefore I would get viewership on my YouTube channel. Now, let's get practical again. I want you to try this today. Ask five people you trust. Family, friends, coworkers. One question. What do you think I'm especially good at? Give me three to five things. Don't overthink it. Just ask. I know this might feel a little bit awkward and weird, but like I said, you got to get yourself out of your comfort zone if you want to see change in your life. And you might be surprised, you're going to probably hear things you're totally taking for granted right now. You might hear things like, oh, you're great at organizing stuff, or you're the person I go to when I need help planning a trip. Or you're great with words. You always know what to say at the right time. Now, these things might seem like nothing, but they could be the beginning of a business idea. One of my students found out that they were great at writing ad scripts. And then that turned into an ad writing service, and then that turned into a course and that turned into a full on business helping people get more customers with their ads. We often undervalue our skills because they come natural to us or we're just used to them. Don't make that mistake, Bruce. And anyone else listening who feels stuck. You don't need a brilliant idea. You don't need a pile of certifications. You don't need a long resume. You need two things, a willingness to solve problems and a commitment to learn as you go. Listen, you'll get uncomfortable in the process. You'll make mistakes. But every successful entrepreneur started there. What separates the successful ones is this. They keep going, regardless of how weird it feels, how uncomfortable it feels, how, you know, even demotivating, it feels to be a beginner again. The ones that make it, they don't wait for the perfect idea. They just pick a problem, they get curious about it and they start helping. And that's exactly what I want you to do. If you found today's episode helpful and you want more practical business lessons to help you start, grow and scale your business, the best thing you could do is subscribe to this podcast. Hit subscribe or follow on your favorite podcast app, the one that you're using right now, whether it's Apple or Spotify or ever, you listen to podcasts by hitting subscribe, you get our next episode automatically. And it's the best way to support the show. It's absolutely free and it's a way for you to commit to growing your business. And now that you've subscribed I'll check you in the next episode.

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