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Business Strategy for Growth: How to Turn Your Ideas into Profit

You wouldn’t believe how many people I met in 2020, who had brilliant ideas and didn’t make money from them. Don’t let that be you in 2021! If you have a business expansion idea, business strategy idea, or an innovative business daydream, don’t let it go to waste.

If you have a game-changing idea, with the right business strategy, game plan, resources, and a solid network, your idea can get you paid. And most importantly, can positively impact your ideal client.

Take my consulting business, for example. After I started my brick and mortar businesses, I kept getting questions about how I started my business, how I managed my business, and how I grew my business.

I would voluntarily give that information to anyone that asked and when it became such a common theme, it just clicked. I could turn my strategy, my advice, and my experience into a business where I helped people achieve the same success in their business.

What gifts and what skills do you have that can positively impact another person? And how can you turn that into a profitable career?

This whole concept is the exact reason I founded GrowthFocus with my partner Danielle. So many people have gifts that go untouched, unshared, and without compensation.  We wanted to teach people how to actually make money from the things that they’re gifted with.

Here are a few ways you can turn your passion into profit.

Identify the Things You Excel In

Maybe you’re a visual expert. You know how to make things look amazing digitally, whether it’s graphics, whether it is editing photos or videos. Maybe you’re an amazing clothing stylist and you dress your friends all the time. Turn that into a business.

Start thinking about how your gifts can be turned into a service and how can you help people achieve your results with the things that you do.

Analyze the Industry

Look at the industry that you’re dreaming about. What’s missing and how can you fill that gap? How can you fill that void? The most incredible thing about service-based business is that you can make it as unique as YOU! You can create something that is signature to the way that you do things.

A great resource is Facebook groups. Join Facebook groups where communities live and where they communicate. People typically communicate when they have a problem when they have a question. You can start to identify what problems need solving and if you can be that person to answer those questions or to be that helpful person.

Liz Illg Consulting

Create a Business Strategy or Roadmap

You don’t need to be an expert in business strategy to write down all of your business ideas. What your business name would be, what services you would offer, what your price sheet will look like. It’s like a business wishlist!

Where you will connect with your clients? Social media? Events? What are you going to do to connect with people who can benefit from your services? Where do you want your business to take you in a year? Think big picture.

In summary, find out what you’re skilled at, take a look at the industry, and find out where you can solve a problem or provide a solution. Come up with a mini business strategy with all of your business wishlist items including how you’re going to get paid.

When you’re ready to be serious about your service-based business, get with a professional who can connect you with the right people to make it happen or an implementer who can do the work with you.

If you need extra help, hire a business consultant who can be your go-to person when you face a decision or a challenge in creating your business. Let me know if I can help you! Subscribe to my newsletter if you want some more advice like this directly in your inbox.

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