Military spouses often hear the words: “I don’t know how you do it.” We may not think we’re doing anything special, but, add the extra title of “entrepreneur” on top of milspouse – and the many other hats we wear – and “it” can seem like a lot! When COVID-19 came along, the demands on us became even greater. Between navigating changes to our new normal, facing economic challenges, and being forced to put things into perspective, we learned the importance of thinking creatively. Capitalizing on securing multiple streams of income in a market saturated with start-ups is one way for milspouse entrepreneurs to sow those seeds of creativity for a rewarding harvest – regardless of what the entrepreneurial climate throws at you. Let’s get started on how to monetize your creative strengths and build your brand!
Drop the Excuses
How many times have you talked yourself out of starting something because you thought it would fail? Better yet, how many times have you actually started something but never finished it because you were afraid to keep going? Here’s the thing – you have to start somewhere, and, until you do, you don’t get to say what will or won’t work. Every great book, blog, podcast, or brand started from a simple idea.
Can you imagine if Amazon or Instacart would’ve let fear or hesitation kill their ideas before they even got started? They would’ve missed out on the opportunity of a lifetime. Don’t let that be you. Drop the excuses!
Scope Out the Market
I’ve never been a fan of reinventing the wheel. It is important to take time to scope out the market prior to making any significant decisions. You’ll want to research trends and how existing brands used those trends to their advantage. Here are some ways you can do it:
Similarity Index
Find brands that are similar to the ones you plan to create. Looking at similar platforms will give you ideas you can incorporate into your own brand.
Resource Identification
In looking at similar brands, you’ll also learn about the differences that exist with the resources you may need to have a successful brand. You’d be surprised to learn how much a decision such as which web hosting platform you use can affect your bottom line!
Expansion Potential
Most brands start out with a laser-focused vision. However, there is always opportunity for growth. Regardless of whether you decide to stay small or expand to a commercial-sized brand, that expansion should never come at the expense of authenticity. In the service-based industry, you capture and maintain your audience by presenting your best self. Once you dilute yourself in the name of notoriety or income, you become just like everybody else – and there’s no value in that.
Work Smarter, Not Harder
Finally, remember that proper planning prevents poor performance. You have to have a plan for how you’re going to take your vision from an idea to a lucrative business. The first step requires you to figure out what you actually want to accomplish and how.
Figure Out the Details
Let’s begin with specificity. You need to drill down what your aim is and focus on it. Once you’ve decided what your focus will be, work on refining it. Next, you have to be able to measure your progress toward that outcome. You don’t necessarily need to go to great lengths by creating magnificent databases to determine how you’re progressing – at least not in the beginning. A simple notebook or e-document that contains your business plans is a great start.
Once you’ve identified a suitable place to document your progress, you’ll need to determine what exactly you’re going to document. My early measures of success with my brand included the following:
Launch of my brand(s)
Degree of fit within my niche
Authentic growth
Brand recognition
These are just a few of the measures I used to determine the progress toward my goals. Reviewing them regularly also helped me to determine where I could make adjustments to my processes, as well as the longevity of my brand.
Break It Down
Next, you’ll need to make sure your plans are achievable. One of my favorite strategies when it comes to achieving goals is incrementalism. This means giving yourself enough grace to break up your larger goals into smaller chunks. You never want to go a mile wide and an inch deep. It is very possible to achieve multiple things at once, but there is no honor in having a mediocre product.
You’ll also want to evaluate your plans to make sure they’re relevant. This is a continuous process. There is nothing wrong with making adjustments along the way, but never forget what first drew your audience to you.
Set Those Deadlines!
Lastly, it is important to craft deadlines for your plans. A goal without a due date is simply a pipe dream. If you think about it, everything created with purpose has a due date – babies, bills, projects, and more. Your brand should be no different! Remember, incrementalism will be your best friend in this process. Break up your goals into tiers: primary, secondary, tertiary, and quaternary.
These are the steps I navigated over the course of a year when I was building my brand. While everyone’s timeline will be different, be sure not to rush the process. Remember, it is entirely possible to use your creativity as a springboard to income. All you need to do to work toward a bountiful harvest is to sow that first seed, and, if you’ve made it to the end of this article, you already have!