3 Questions to Ask Yourself If Your Business Is Expanding Or Shifting Direction – Transcript
Hello, Radiant One and a very big and a very warm welcome to today’s episode in which I am going to be sharing with you 3 questions to ask yourself if your business is shifting direction or if it’s expanding into new products or services.
So first of all, I want to say that in this episode that I’m going to assume that you actually know which direction your business is going into or which products or services are being asked to be born through you.
Stop in the name of love…
If that’s not where you’re at, I want to say “stop, in the name of love” and then go ahead and in the show notes to this episode, I’m going to include a link to an episode I did about the 5 signs to look out for if your business is shifting direction or expanding.
5 Signs Your Business Is Expanding Or Shifting Direction
In that episode, I also share 3 ways that you can ensure that you gain the clarity and know which action steps to take. So if you’re someone who’s currently not sure, rather than listening through this, go ahead and listen to the other episode first.
Now if you know which direction your business is shifting into or what products and services you’re currently expanding into – and the reason why I say expansion or expand is because being love, coming from a space of love and of service, we are always ever continuously expanding in love. That is the natural order of the universe.
If you look at on a metaphysical or even quantum physical level, the universe is constantly expanding. That is because we are constantly expanding and “it is through you that this world will change,” as you may have heard me say before.
It’s a quote from A Course in Miracles meaning that is it through you that this world will change, as it says. It’s by the expansion, by your creation, by the products and services that you provide for those that you are here to serve.
First Question – How Does this Serve
So the 3 questions: The first question to ask yourself is “how does this direction or product or service serve my current clients?”
The answer may be that it doesn’t and I’ll go more into that.
But first I want to say that if it does, if the client, or the direction you’re wanting to take your business in or the products and services you’re wanting to expand into, if they are totally aligned and fully in sync with what you currently have and your clients are the perfect clients for those services or products, then by all means go ahead.
It’s just a matter of bringing them to life, manifesting them by creating them whether it’s a physical product or a service. Make sure that it’s fully described. Then begin to market, sell, and then deliver it, of course.
Now if it doesn’t serve your current clients, then it’s a matter of asking yourself, “Well, who are then the potential clients?”
If you’re someone who’s built a large client base or even a newsletter subscription list, then those are people who are wanting to hear from you and wanting to hear what you have to say. Some of those may or may not be clients for this new thing.
An Example – Yoga Teacher
I want to share an example. I have a client who’s a yoga teacher. She’s been teaching yoga in classes for years but wanted to shift her business online which is what we did over the process over a number of years. We expanded into that and she also runs retreats and she has an app and she does online courses as well.
However, there was this one thing that kept calling her and that was to build a teacher training. Those that are currently on her list or were currently on her list were not necessarily fit for that. Not everyone was interested in it.
One simple thing that we did was we asked them.
We asked her current subscribers who among them were interested or would be interested in a teacher’s training. Doing that allowed her and us to basically segment her list so that we know that those that were interested would then be served in that capacity and those who weren’t wouldn’t be inundated with information or services that they really had no need for or want for.
So that’s a simple way. Go ahead and ask yourself how does this serve my current clients? Then if it doesn’t, ask yourself then who are the potential clients for this new thing?
Second Question – Best Market
The second question to ask yourself is what is the best market for this thing?
The reason why I say that is because in my sessions with clients, very often I have clients who are either bilingual or trilingual meaning that they can serve and they master languages, several languages, and can actually serve different markets and also choose what markets to serve.
There seems to be this notion that if – that in order to avoid eliminating people, then you just do it in English because then – most people speak English at least in the Western world and also of course parts of the Eastern world as well. Most people know or have an experience of English so there’s often this idea that going with English is going to be the “best” thing.
Well, for several of my clients, I’ve had them actually dive deeper into this, into research and to measure metrics and to look into whether or not that might be true for them.
Just recently for actually two of my clients, what we discovered through investigation – there was one who chose to ask her people on social media what they preferred, if they wanted to have their native language or if they wouldn’t mind listening to this in English.
An overwhelming majority of the people said that they’d prefer their native language because there was so much of people doing it in English that having someone do it in Danish was actually a joy and a thrill for them. It was a big service to them.
Then the second thing she did was actually look at her metrics and again the overwhelming majority of her metrics were from the native language.
Allow Yourself to be deeply nourished
Now of course if you want to expand into a new language, you can do that. However, at the core of what you do and why you run your business is to be deeply satisfied, deeply nourished, of course to make money, live your life, and if that is possible, doing it in your native language first, that’s not to say that you don’t expand into a second language or a third language at a later time because we’re always ever-expanding in love.
Inside Out Approach Brings Joy
But I wanted to as always take the inside-out approach in the sense of what brings you joy. Of course, if – for me, my native language is Danish but I thrive in English so that’s why I’ve chosen not to be my primary language.
I do serve clients in Denmark because they find me and they come to me and they want what I have but for me personally, expressing myself, living, being, doing in English just brings me a deep joy and a satisfaction that I don’t get in Danish. So that’s why I’ve chosen that but I want to say if that’s where you’re at, do that.
Consider the saturation
And of course there’s also the saturation of the market. If you’re in a market where there is a lot of what/who you do, I don’t believe in the term – I know that there is the idea of competition but I see it as colleagues and I see it as being unique and special and no one can show up, serve the way that I can. They can show up and serve the way they can and so that’s “makes me special” and unique just as you are special and unique. So even if the market can be saturated, there might be a place for you.
Again, I would encourage you to go through some metrics and research to kind of get a feel for that as well.
So that was one client who actually again overwhelming majority wanted to have it in her native language.
Huge, underserved Market
The other client, another client that I had was – it was actually a suggestion that I came up with. When I found that her native language and there was a huge population and they were totally underserved in the area that she was serving in.
So I invited her to consider the idea of shifting her market. When she did, the results have been astounding because people have, like I said, been undernourished and been wanting to have someone serving them in their native language.
Don’t underestimate the value or power of your native language
So when you look at your market, don’t underestimate the value or the power of serving in your native language. It doesn’t necessarily only have to be based in language. If you’re in a big country like France or the US or South America – I’m sorry, I don’t want to – because South America is more than just – there’s many different countries.
What I want to say to this is that look at if you have “an advantage” in terms of the knowledge that you have or the culture that you have or if there might be some particular things that can actually serve you and your client, skills that you have, knowledge that you know, and that might be in your backyard.
Don’t be afraid to do business in your “backyard”
In the world of online business, it’s easy to think that we need to go as far and wide as possible when basically what you’re looking for could be in your backyard and coming back to does it nourish you, does it serve you, does it satisfy you, does it pay your bills? That might be just the market for you. So it might not be where you think it is. What’s the best market for this product/new thing and also how does it serve me?
Third Question – What Will This Require?
The third question I want you to consider asking yourself is what will this require of me?
Not only of you but there’s two parts to this question. So what will it require of you personally and that means very often when we are shifting our businesses into a new direction or even our lives, our careers, or products and services, you’ll have to deal with a new level of limiting beliefs, of self-sabotage, of fear-based mindset, of challenges, obstacles, and issues that you will have to go through.
So knowing that beforehand and beginning to have an idea of what will this require of me will actually allow for you to make love-based decisions about how you can be supported, how you can make sure that you take time out of your day to acknowledge yourself for your accomplishments and make sure that you are actually in the right space for yourself in order to bring forth this new direction shift or expansion.
So what will it require of you? That’s the internal side.
There may also be things on the external, like maybe there is another skill that you need to learn. Maybe it is if you want to be on camera or video, that’s something that you need to train and try and do and be on camera and constantly just doing it over and over and over again. Maybe it is if you enjoy creating beautiful photos or graphics for your social media. Maybe that’s a new skill because you want to step out further and reach more people. Maybe that’s a new skill that you need to acquire.
So it’s about figuring out or looking into what will this require of me and then the second thing is what will this require of me in terms of resources?
Carve out time
So if you’re an experienced business owner with everything set up and you’ve got a new product or service to bring to life or you’re shifting your business in a new direction, time is going to be a resource that you will need. You’ll need to carve out time in your calendar in order to make room for this new thing that’s coming through.
Start Where You Are
Another thing could be in terms of money. I want to say in terms of money, very often money is an excuse or becomes a mind fuck from ego for us not to step into that new direction, for us to not take those next steps.
So I have this phrase that I always go with and it is:
“Start where you are. Do what you can with what you have.”
What I mean by that is, for example, if you’re someone who wants to start doing a podcast or a show like I have, you might think that you need the best camera. You might think that you need the best microphone. You may think that you need the right lighting. You might think that you need a new whatever it is, a place, a new office. It can be many, many things.
However, if that’s not currently in your budget or if you’re not even certain that that is actually the direction you’re going, rather than going out and buying all those things, start where you are.
Do what you can with what you have. That’s what I did. I expanded from that space. I knew that this was what I was called to do and so I started doing it and as I grew, I knew that this was actually something that I was going to continue doing, I chose to invest in a better camera and in the right microphone and so forth. But it doesn’t necessarily need that.
It can also be – so if you’re someone who wants to begin teaching classes, if you’re a yoga teacher or a therapist or a healer, someone who requires to have a space, there’s different ways of doing that.
You can either start by renting a place of your own or you can start by asking, inquiring in your local area if there’s things that you can use or you can rent on an hourly or a daily basis so that it doesn’t necessarily become a full-on thing.
Money can easily mindfuck you
Because like I said, very often in terms of money, money can become a hindrance toward – it can be a mind fuck that holds you back from doing what you want to do because you think that you need this thing in order to do it and that’s very often not true.
Time is of the Essence
But I want to say that in terms of resources, if you’re a business owner or even if you’re someone who’s stuck in a job that you don’t love, the number one thing that you will “need” is time – time to build it, research, and that needs to be carved out.
I’ve had clients who were stuck in a job that they didn’t love who carved out 15 minutes a day every morning simply before the kids and their wife woke up. They carved out 15 minutes and then that’s what they did because we very, very often underestimate the power of small steps.
Fifteen minutes in one day, in a week is more than an hour, in a month is more than four or almost five, and then in a year it’s – so it’s about taking those steps. As you take those steps, the universe then follows and is able to show up for you as well.
So those were the 3 questions. How does this serve my current clients and if it doesn’t, who are my potential clients? Number two, what’s the best market for this new thing? And number three, what will it require, both of me and in terms of resources?
I’d love to hear from you!
If your business is shifting or expanding, if you’re stuck in a job that you don’t love, I would love to hear what is your biggest takeaway from this episode? Go ahead and share it with me in the comments.