Why isn’t your great business idea making you money?

People approach me every day with business ideas — what could be the next greatest Hula Hoop, self-directing Frisbee, time management system, dog training trick, or best-selling book. Often these people brag about having so many great business ideas that they have not been able to narrow down and develop even one. And therein lies the challenge. If you have lots of great business ideas and you’ve been doing research for the last five years – I’ll guarantee you nothing has been added to your bank account. Ideas are plentiful and don’t put money in anyone’s pocket. But the idea that’s combined with a clear plan of action can change your life.

Episode #748 October 23, 2020

Hi this is Dan Miller – and yes you’re listening to the 48 Days Radio show – where each week we take 48 minutes to dive into real life questions about finding your passion, deciding what kind of life you want to live – and then finding or creating work that allows you to show up every day, excited to be able to do something that is meaningful, fulfilling – and profitable. This is where normal, indecision and ambiguity come to die. Welcome to the 48 Days Radio Show.

Questions:

I have wanted to share a business idea with you and your team to get some assistance and advice but I’m afraid once it’s public someone with funding will grab my idea and run with it.

Don’t be afraid of sharing an idea. Be of afraid of keeping it close to your chest while someone else comes up with the same idea and runs with it. I encourage you to join the 48 Days Eagles Community and develop a group of people you trust that you can share ideas with.

I want my wife to turn her hobby into a business but she’s resisting. What should I do?

Look at the reasons she might not be wanting to turn her hobby into a business. Find out how one cake decorator is building her business — but she’s not making cakes.

Should I get a business loan?

If you have a business that works and a loan would help you leverage what you’re already doing, then go for it. Make your business profitable first. Never start with borrowed money.