Developing Your Dream

These recommendations are based on Mica (pronounced mee-sha) Saunders’ ”Developing your Dream Niche 101.” IPIA members can view the entire webinar at this link.

Finding Your Authentic Passion

When you start your business, find something you are passionate about.

If your company lacks the passion, it will be hard to show up every day, especially in the beginning when you aren’t making a profit. Many businesses operate in a deficit for the first 1-3 years. Of course, this varies from business to business and will depend on start up costs.

For example, in a pole studio situation, you will have to have funds to rent a space, likely renovate that space to meet your needs, and purchase poles. These costs can be depreciated over time, but will be a large upfront cost. The first 1-3 years, you may be running purely on passion and drive.

Building Your Brand Step by Step

Mica shared several practical tips for entrepreneurs looking to develop their niche:

1. Start small and grow organically: “Don’t try to throw a million things out there. Have one thing that you know people need.”
2. Know your market: Research what your potential customers are looking for by:
   1. Examining Google search queries in your local area or where you intend to have your business.
   2. Creating surveys via SurveyMonkey or Google Forms to gauge interest.
   3. Monitoring social media comments and hashtags for trends.
3. Collaborate with others: Partner with complementary businesses for cross-promotion and giveaways.
4. Improve gradually: Don’t expect perfection immediately. “Things might not look a certain way in the beginning, but you go through different stages and phases.” This is a great note as many people fall into the trap of “perfection in the way of progress”
5. Reinvest in your business: Mica shared that she puts about 50% of her profits back into growing her business.

Remember, growth takes time, you need to keep watering the seeds you have planted.

Maintaining Confidence and Perspective

For those struggling with confidence, Mica offered these powerful suggestions:

• Daily affirmations: “Wake up every day and tell yourself that you can do this.” You can also do morning pages
• Surround yourself with positivity: Keep company with other go-getters and eliminate negative influences.
• Write down your goals: Make them visible and acknowledge when they become reality.
• Celebrate small wins: Recognize your achievements, no matter their size.
  • Wins also include putting yourself out there. Rachel Strickland promotes the use of a “rejection punch card”. Each time someone tells you “no,” you get a punch on your punch card, and once you get 10, you get a treat. People telling you “no” means you are putting yourself out there.
• Avoid social media comparisons: “Don’t let social media fool you. People only show us what they allow us to see.”

Finding Balance as a Multi-Business Entrepreneur

Managing multiple businesses requires structure and discipline. Mica recommended:

• Creating an “A day, B day” schedule for different businesses.
• Planning marketing content at least a month in advance.
• Recognizing your productive times and planning your day accordingly
  • For example, Mica avoids email first thing in the morning to maintain focus

Final Words of Wisdom

Mica closed with encouraging advice for all entrepreneurs: “Keep pushing, never give up, always keep supportive people in your circle, and don’t wait till tomorrow to get started—get started today.”