Episode #89  Maybe I’m in the wrong industry?

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Am I in the wrong industry?

One my clients in The School of Less Effort recently wanted coaching on something and I know that the thing she felt stuck on is very common as we grow our businesses. I wanted to bring it to the podcast for those of you who may feel stuck with the same thing so that you can get the clarity you need and move forward with confidence.

My client felt stuck, finding it challenging to attract clients and the thought she shared on the call was that she was wondering whether she was in the right business. She was questioning whether this business or niche or industry was why she was struggling to make it work.

Pause for a moment and reflect: Have you ever questioned your industry choice? Have you Ever had that sinking feeling that maybe, just maybe, you're not in the right business? 

If you have, you're not alone. I've been there too.

This is something that usually shows up in the beginning stages of entrepreneurship. Has nothing to do with how long you’ve been in biz but rather how much you have sold.

The more money you make, the less this thought pops up. 

I want to add a bit of a disclaimer here because it is important to understand that building and growing a business has a lot to do with your mindset but there are also certain practical things that need to be in place. It is absolutely possible to be in an industry that won’t make you any money. 

I'm not suggesting that every business will thrive in every environment. The market does change. We no longer rent videotapes or dvd’s; we stream movies on Netflix, we rent the latest movies on Apple Tv.. But if there are others succeeding in your industry, there's no reason you can't.

If you can answer YES to the following three questions, chances are you are in the right industry:

1. Is there a demand for what you’re selling? In other words, does the thing you sell solve a problem or fill a need for your customer.

2. Is your industry growing?

3. Are people already buying what you have on offer?
   

What I know from my own experience and with this client, when things aren’t going the way we expect them to, we tend to think that it’s the industry, or the niche, vs our ability market and to sell our services.

We often get lured into the trap of comparing ourselves with others. We scroll through social media feeds and we see what looks like successful entrepreneurs who seem to have it all together. Sometimes we look at their following numbers and we assume that because they have a large audience they are super successful.

How many followers someone has on social media is not a reflection of how profitable their business is.

My coach says it perfectly: “There's no such thing as the "right" offer, only the offer YOU make right.”

There are so many industries and niches that might seem absurd or impossible to monetize that are thriving today. 

Here are a few examples: 

• potty training for dogs

• coaching for quilters

• Instagram dog influencers 

• Exotic plant rentals! 
  

What these businesses have in common is not the industry they're in, but their mastery of selling.

Now, selling isn't just about persuading someone to buy something. It's about demonstrating how you can solve a specific problem or fulfils a need for your client. If you can do this well, you're in the business.

Please hear me on this. If your client has a problem they want to solve, if they have a need they want to fill, and you can solve it for them, you can build a business around that. Of course, the bigger the problem is the easier it will be for you to sell it. But don’t fall for the trap that it should be easy.

As entrepreneurs we are creating something out of nothing. It won’t always be easy. But as you learn the skill of selling, as you grow and build your confidence in this skill…it will get easier.

Think about this.You’re not born knowing how to be an entrepreneur. Some of us might be blessed to be in a family where we are surrounded by entrepreneurs, but most of us are not. 

We need to learn how to be an entrepreneur. 

Most business owners start a business because they have the skill of doing the thing. Like, an accountant will start an accounting firm, a lawyer will start a law firm, a baker will open a bakery.

We know how to do the thing we are selling very well. Micheal E Gerber, author of the E-Myth refers to this as being the technician in the business.

But just because you are really good at being the technician, does not mean you are going to be good at selling what you’re doing.

Doing the work of the technician and being an entrepreneur are two very different skill sets.

Learning the skill of being an entrepreneur is often a grueling process of trial and error, repetition, and tweaks. 

Consider a professional golfer. A golfer records his swing, watches it back, notes the mistakes, corrects them, and practices again. The same applies to entrepreneurs. Sometimes, to improve, we must unlearn our bad habits and replace them with more productive ones.

In order to successfully sell your services, there are three beliefs you must hold:

First, you must believe people want what you're selling. 

Second, you must believe that you can deliver it.

Third, you must believe your offer is right for your target audience.

If you find yourself constantly questioning your niche or industry, shift your focus instead to mastering the art of selling what you have. Understand the value you're providing, how it's improving your clients' lives. If you don't have clients yet, reflect on how it has helped you or how it can potentially help others. Then, craft your narrative around that.

It's important to understand that those successful entrepreneurs you're looking at once questioned their path, too. They stuck with it, learned how to sell effectively, learned how to communicate with their audience so well that their product or service became an obvious choice.

Remember, entrepreneurship is not always a walk in the park. It's challenging, and that's okay. The initial stages are supposed to be hard. They're part of your learning curve, the steep part where you figure out what works and what doesn't.

With practice and perseverance, things will get easier. Until one day, selling will become second nature to you, like breathing, or, dare I say, swinging a perfect golf shot.

So, the next time you question your path, remind yourself that the grass isn't always greener on the other side. The key to entrepreneurial success lies not in finding the "right" industry, but in mastering the art of selling in the industry you've chosen.

In conclusion, my advice to you today is: Keep going. Keep learning. Know your value, believe in your service, and, above all, believe in yourself. Because you are the defining factor of your business's success. Embrace the entrepreneurial journey, with all its bumps and turns. And remember, with the right mindset and skillset, you'll not only reach your destination, you'll also enjoy the ride.

Thank you for tuning in to this week's episode of the Wildly Aligned podcast. 

Remember, you are capable, you are driven, and you are wildly aligned with your own success. Don't stop believing.

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