Build a Business Around Your Expertise & Your Passions

By Jennifer Thompson

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May 22, 2020

What’s your Expertise?

Building Your Business Around Your Expertise

Building Your Business Around Your Expertise

Building your business around your expertise goes beyond selling what you know. It starts with having a clear sense of who you are, what you stand for, and what you’re hoping to achieve through your business. Your expertise includes your knowledge and your experience and a whole lot more. Leveraging these is a path towards a lucrative calling.

The essence of who you are and what you have to offer

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The essence of your business, encapsulates your expertise, your values, your mindset, your personality, and your passions. To put it in a nutshell, it’s your value proposition.

You must be clear about what you can do to enrich the lives of your prospects. How you can add value to their lives given your existing time and resources. 

How can you package what you have to offer in a way that sets you apart from others offering something similar? That’s essentially your brand.

When we look at people like Oprah Winfrey, it is clear what she stands for – to make a positive impact on the lives of her viewer. Even as she evolved in how she delivered her message, there was consistency in the essence of her message.

Elon Musk is the epitome of technological expansion. Steve Jobs became synonymous with digital design.

 

You are your message. Know what you stand for.

 

Know your target audience

Build Your Business Around Your Expertise

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Who specifically will benefit from your expertise? Decide on the group of people you believe are most likely to buy from you. How much do you know about them? Please get to know them intimately. If it’s Millennials you are targeting, how much do you know about them? What are they viewing on TV?

You cannot be everything to everyone. Decide who you want to target and get to them well. The more you know your target audience, the better you can communicate with them.

 

Leverage media to communicate the benefits of your expertise

 

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No matter what your business or service it is essential you leverage with as many different forms of media as it is possible. I never gave twitter much thought until I witness, like the rest of the world, the effective use of it in the political arena. Who would have guessed? There is a wide range of social media. More than you may have time for. Study the ones that attract your target age group.

An amazing resource for this is SOCIAL MEDIA MARKETING FOR BUSINESS 2020 : 3 BOOKS IN 1: The ultimate top strategies to build your personal brand and become an expert influencer using Facebook, Instagram, YouTube, Google & more.”

Using Media

A great way to increase your presence and authority on your subject matter is to self-publish a book in your area of expertise. It can be the launching pad for a multitude of marketing ideas.

Start a website. Get your domain name. You can buy your domain name with the host you plan on using to host your website. There are numerous companies that host. GoDaddy and Bluehost are popular companies for hosting websites.  building a website can be as easy or as complex as you’d like it to be.

Create a website that is easy for visitors to navigate. I would suggest using WordPress more than anyone else. It had thousands of themes to choose from. When you sign on with GoDaddy or Bluehost you have the option to create a website with a theme that costs nothing but I advise creating on a website using a theme that you have purchased which means you own it and it’s copyrighted in your name.

Start blogging on your expertise. Blog regularly. Ensure that you update your blog consistently with current information. Look for speaking gigs. Build a YouTube channel. Write articles for publications that focus on your niche.

 

Your Mindset

 

What is blocking you from receiving money?

Have a growth mindset.

Your expertise also includes your mindset. Your mindset drives the way you approach your business and life in general. That is foundational for the success of your business.

According to psychologist Carol Dweck, people with a growth mindset have a positive attitude towards learning new things. Her book, Mindset: The New Psychology of Success, provides insight into the characteristics of a growth mindset and ways to develop it.

As opposed to a fixed mindset, a fixed mindset is one that believes that your qualities are unchangeable. People with a fixed mindset have a difficult time learning from their mistakes.

Having a growth mindset is foundational to your success in business and all aspects of your life. 

The good news is that while many personality traits remain stable over time, your mindset can be changed. Building a business requires a high degree of adaptability. The right mindset will make learning that much easier.

 

Capitalize on your strengths

 

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Be attuned to your weaknesses as well as your strengths. Depending on the size and scope of your business, capitalize on your strengths, and hire people who can take over the part of your business that you find most challenging. If you are just starting out and cannot afford to hire someone full time or even part-time, then seek the help of freelancers on sites such as Fiverr

Depending on the nature of your business Fiverris also a great place to offer your services. There are hundreds of gigs offered by thousands of freelancers from all over the world. The quality is not uniform. However, you get to read the reviews on each freelancer. The best part is that you can ask for a refund if you are not fully satisfied with the quality of work. I have been using the services for a wide variety of freelancing gigs this way and have been pleased with the results.

Know your “why”

 

Know Your Why

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Knowing the reason for wanting to start your business is going to be the anchor for the continuation of your business, especially in challenging times. I have met countless people who started a business for the sake of freedom and flexibility only to find that they were tied to the business for eighty hours a week. With no flexibility or freedom.

 

Clearly define your goals and outcomes

 

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Have some clearly defined goals – each quarter or annually. But go beyond goals. What outcomes are you actually hoping to achieve?

Making $200,000 a year is a clearly defined goal. Maybe your outcome is to be financially free? Or, to reinvest in the business. What would that entail? Maybe your overarching outcome is to make an impact on this world. How can you quantify that?

Focus 

 

Focus on Your Business

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Running a business requires a great deal of focus. Segmenting your day is an effective way to increase your focus. Work on your business when you are most productive. Of course, a lot of this depends on your family situation.

Keep to daily rituals that support your business. Rituals such as regular exercise, a healthy breakfast and, sufficient sleep are paramount to the self-care needed to sustain you.

 

Learn from the pros

 

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I can’t overemphasize the importance of spending time each day learning from people who have succeeded in the business you are establishing.

You can do this through videos, reading, and, speaking to successful entrepreneurs. Join a networking group to support and receive support from entrepreneurs at varying stages of growth in their business. Model your strategies on the ones used by the pros.

Learning from the mistakes of the pros can save you a lot of time from making them yourself.

You may be an expert in a particular field but it does not mean you’d be an expert in the running of a business. These are two separate skillsets.

 

 

 

 

Be kind to yourself

 

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Develop a process to handle setbacks because they will happen. Setbacks are part and parcel of any business. Become aware of your emotional state when these moments arise. Decide how you will deal with them. Create a support system that can be both honest and encouraging.

Take time off when you need to. I found that exercise and journaling were effective in helping me deal with setbacks as I was setting up my business.

Setbacks are not restricted to just start-ups. They can occur at any stage of the business. It is important to find a healthy way to deal with them

 

Running a business is a challenge. Don’t lose sight of why you got into business in the first place. And while you’re at, have fun. No amount of success can take the place of a deep sense of fulfillment. If you’re not enjoying what you’re doing then it’s time to reconsider if you should be continuing on this road.

Through consulting and seminars, Jennifer teaches women to live life on their own terms. After working in finance and banking for twenty years she discovered another passion – a passion for writing. She has numerous self-published books on money: Women and Money: 7 Principles Every Woman Needs to Know to Be Financially Prepared in Any Economy and Growing Up With Money: Raising Financially Resilient Kids in an Age of Uncertainty.

Jennifer’s articles have been published both online and in print in various magazines.

Towards a most abundant future? Sign up For the 21 Day Challenge here.

Jennifer Thompson divides her time in San Diego and the Mediterranean. She can be reached at jenniferthompson@compelling365.com

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