Linh: Years down the track I realised now there is a formula
to finding that niche. It's not about, you know, that fad, it's
like, okay, the niche is selling, you know, sanitiser the
niche is selling the mask because, oh cool, it's gonna
make you money. It's a trend. You know? No, we're not talking
about that kind of niche to make money. We're talking about
finding that niche that is about you, because God gave you your
particular talent, who made you who you are, you've gone through
your life with your own experience and your own
knowledge and expertise. How do you package that into a niche
that fits in the marketplace? Hi, everybody, and welcome back
to my channel. It's Linh Podetti. here helping you to
achieve time freedom so you have more time for self, family,
business and life. Now in this video, you're going to hear from
Marilyn and myself helping you to start a business in 2021. So
although we run a coaching programme for productize kit,
we're taking you behind the scenes on some of the teachings
that we teach our students, which is to how to start a
business and starting from getting your right mindset,
right, how to find a niche and validating your ideas that you
can start making money this year. Hey guys, it's Linh
Podetti. Here and today I have Marilyn Wo, my business partner
at practicekit.com to be here with me to share how you can
start a business in 2021. Now we both are mompreneurs. We work
from home, and we've been doing for many, many years-decades
now. And so we want to help you in 2021 you have better work
life, life balance, or be able to build a business from home.
So welcome, Marilyn.
Marilyn: Hi. Hi, everybody. Thank you so much for being
here.
Linh: Yeah. Okay, so I know we have our programme, because we
want to mentor people along the way. Because this business isn't
simple. It's not like a, you know, here's a step and then
that's it, you're gonna succeed. We even our students are asking
us a lot of questions. And so we can't cover everything. But I
want I thought we'll summarise that up into three main steps, I
think. And that's step one is really the mindset. Step two is
niching because we really believe in unless you have a
niche, you're going to be everything to everybody. And
then I guess Step three is like how do you validate that idea so
that you would be able to make money from that business? So
yeah, I guess lots of you, you know, what was your mindset
getting? Okay. If you could give advice to someone right now,
around mindset to starting your own business or staying in
business- What would that be?
Marilyn: I think the first one would be really finding or
figuring out what you really want. First thing is what you
really want, and then next will be what you really want out of
that business, right? Because you will go through a lot, it's
like, it's not just a full time job anymore. It can be a lot of
things, right. And we all know the ups and downs. So would a
full time job bring you the stable income, or the regular
income be the best for you? You know, we have to think in this
way. Rather than you know, we see like, oh, there are people
successful, they can do it, then, you know, something that I
also can do you know, thinking like that. Yes, is positive is
good, but you want to set up a business? Why? Right, right from
the start? Five years later, 10 years later, why don't you get
out from from this business? So I think this part is important.
Well for me when I started.
Linh: Yeah, for me, I always liked every situation I like to
do what pros and cons about everything. So I like for
example, when I had a job, I really wrote down all the pros,
okay, cool, I get steady income and people, you know, don't even
I don't have to put a lot of effort, I still get paid and all
those things. But the negative really outweighed it for me,
because it was like, you know, the nine to five job, no
flexibility, I have to pretend I'm sick to get a day off. And I
was a single mom, young mum back then as well. And so I realised
I will never have that flexibility, working in a in a
job. And then I also remember, we collected these things that,
for example, there are a lot of people in a corporate job that,
you know, disgruntled wanted to quit their job, but they're
still there. 20 years later, and I'm like, Well, do I want to be
like that. No, write it all down. I also felt like, yes, I'm
getting paid, but am I growing as a person and that was very
important to me. Like I need to be growing, I need to be
challenged. And I can't be dead inside. Right? And being in a
steady job does not fit with that. And so yeah, understanding
what is the pain you're running away from? For me was like, this
corporate box that I really hate going to work and being told
what to do. I feel like I'm a child forever. It's like, I
thought I'm an adult. Now why do I have to be scared of my boss,
you know? Anyway, so then the pleasure was just like, well, I
also wanted to inspire millions of people. I want to be really
wealthy so that I could give back to my parents to my
society. And this job isn't gonna do it for me, and I just
could not see that. And so that pleasure also put me as well.
What was your pleasure?
Marilyn: Yeah, I think the list that you made is, is really
good. I did that as well. And I did like, kind of key words kind
of thing, like, which kind of words resonate with me. So with
that resonation of keywords helped me to, when I look at the
word, I kind of it's like a gut, right? Like, I feel that okay,
this is me, and then I go with it. So that was one way that I
did it. I did that with that list. And when I started, I
started off not really doing what I wanted, meaning I really
went for the vanity. I see people succeed. And so I thought
it on it's kind of like a jealousy, feeling like you're
envious of them. Okay, that was me. So I didn't really get
clear. I didn't really get aware of deep down what I truly
wanted. It was a lot of like, probably what people say about
me and say, like things that I can't do and all that. And I
just want to prove to them. So it was that kind of reason.
Right? So to your question on that it actually was kind of-
there was this transformation, where I did happen to just sit
quietly, and ask myself, "Do I really want to be with my kid?"
"Do I really want to ask permission for leave to be my
kid?" Like, you know, those are my kids. Why do I need to ask
for permission, right? Things like that. So it really went
down to the awareness of myself and my circumstances, rather
than running my life based on others. So I kind of look at it
in this way, where it drew me to do what I want to do on my own.
So it's flexibility, freedom, off-schedule, my own control of
my own time, that led me to start my own business.
Linh: Yeah, and why we mentioned step one is mindset. Mindset is
so important, it's like, unless you have that shift in your
mindset, like "That's it, I'm ready to go!" But I think the
next step is once you take the leap, how do you maintain that
mindset? and for me, I'm constantly feeding my brain with
inspirational content from successful people, or I'm
watching a lot of YouTube or reading a lot of books. And I
have to have that every day. Otherwise, I will also not have
a great mindset. Because it's a kind of like a, you know, a
mindset, fitness, I guess, right? You need to keep that
fitness going. So that you can stay that way. Because I know
many people may know how to start a business. Oh, that's how
I'm gonna start but then they just stop you the same with with
the maintenance of your mindset.
Marilyn: Yep, absolutely. It's a lot on, it's like a muscle,
right? Like, when you sit where the more you build on it, the
stronger it becomes. Yeah, it's the same for me as well, it's
but it's a bit of a comfort, comfort zone what you call it,
that like a ship in the comfort zone, like really not being too
comfortable. And knowing that I have to get out of that zone to
the next level. It is also, you know, kind of developing myself
to be a better version. So it's along this way where Yeah, I
kind of carry on with the business, right? Because there
are a lot of challenges in between, there are a lot of
obstacles. It's not just, oh, I want to build this thing. And
I'm so happy about it. I'm so excited. And it will stay
forever. If it's like that, then, you know everybody could
have just done it right? Like Yeah, so definitely in between
there'll be probably a customer who will cancel, another
customer will cancel, another customer say that, you know he
or she is interested- but after that don't sign up. So all these
can actually add to the kind of demoralising feeling every day.
Yeah. So I also need to feed myself maybe at least even one
hour a day with all the positive video to help. Yeah.
Linh: Yeah. And then that's why we built productize kit because
we wanted a community for people that are like us back then. You
know, starting out and wanting to learn from someone's
experience. And, you know, we're always the kind of that example
of like, "Hey, you can do it. If we can do it, you can do it
too!" And we're all together helping each other. So awesome.
And now step two is niching. Right? For me, you know, years
down the track, I realise now there is a formula to finding
that niche. It's not about you know, that that fad, it's like,
okay, the niche is selling, you know, sanitiser the niche is
selling the mask because, oh, cool. It's gonna make you money.
It's that trend me? No, no, we're not talking about that
kind of nice to make money. We're talking about finding that
niche that is about you because God gave you your particular
talent, who made you who you are, you've gone through your
life with your own experience and your own knowledge and
expertise. How do you package that into a niche that fits in
the marketplace, and that's what we're talking about here. So
I'll give you example. My niche is that I love people, I'm a
natural when it comes to like connecting with people. So I
mean, my passion is people. So I mean that recruitment kind of a
niche. My expertise is, you know, matching people, I've
always loved matchmaking, actually. But I happen to
matchmaking in business. And my expertise has also, you know,
been working with a lot of small business and marketing. So the
industry experience I have is how to help small businesses in
marketing. And so I, the mashing, of recruitment with, I
guess, even my passion for helping to reduce poverty in
developing countries, I'm Vietnamese, all of that has
combined into Outsourcing Angel today. I help to recruit VA from
developing countries to match with business owners here to do
their marketing. And that is the market gap. And that's my niche.
So what is yours?
Marilyn: Yeah, that's a very good way of putting them
together. Mine is I have like 10 to 20 years of design
experience. So even in school, I love art, I love creating
magazines. I'm just like, out of nowhere, I'm not paid. I just
create magazines for for club, you know. All these are like,
chapter of my childhood writing code. I mean, my student, yes.
Right. So these are areas where maybe you can pick up right,
like hints of what you used to do, even without money. That's
one, I mean, it's not just a hobby, but you can just pick up
so it may be gardening, it may be photography, so there'll be
quite a few, right, like, multi talents kind of thing. And then
you just lift them up, lift them out. And then I was also in
sports team for, like, 10 to 15 years. So team building is
something that I love doing. So I kind of same as similar to
yours, I mash them up together. So it's like design and team
building. That's how this company has grown. Right? So
it's all these expertise that has been like 10, 20 years back
that, you know, I feel like, I know this area best. So I think
for anyone listening, it's more like that. So it's like picking
out from there. But I think which is not that easy as well,
because I also had a problem before- on picking up. So I kind
of stopped design, thinking that design is not my thing. When I
met a certain obstacle, you know, I'm saying. So um, so I
did come to this point where I almost gave up design, although
that could be my kind of genius zone or something. But I came
back to it right. So it can take some, you know, ins and outs and
situations whereby you may think, thing that you have to
give up, maybe move on to something and then you come back
again, so all these are the moving parts. Yeah.
Linh: And hopefully, I mean, by joining our community, we're
going to be able to wake you up and go "No! Stay there. No!"
Because sometimes life hits you with hurdles, like you said, and
you, you just get distracted, and you just feel like maybe
I'll just go for something easy. But it's not right. I mean,
anything hard, worthwhile to build will take time and hard.
Even if you're good at design, building a business around
design is still different to just being a designer, right?
Just because you're a chef doesn't make you a great
restaurant and business person. So great point. Okay, so yeah,
you know, and that that's where we come in, we really can help
you come up with that niche. And this brings me to the next point
is that, even if with if you don't know how to create your
niche into a service, and validate the idea, it's not
going to work, because what are you going to do design? What
you're going to design? I don't know, cartoon, you're gonna
design what like, What are you trying to do? Are you going to
design everything under the sun? So let's talk about validate the
idea. Yeah. How did you validate the idea of chosen your business
model of unlimited design? And you pay a fixed fee?
Marilyn: Yeah, so being a generalised designer was what I
was before. And that was a huge mistake. But then again, of
course, I learned from there and I had my regular income as a
freelancer when I was just a general designer. But it didn't
bring me that kind of- it wasn't a strategic view, I would say,
to bring me recurring revenue. Which is something that we all
should strive for. So that we have predictable income rather
than thinking okay, entrepreneurship is up and down
all the time. No, we can kind of put the income in we can design
our own income stream right. So yeah, so you can do it and that
was when I kind of asked myself "Maybe I should ask my
customers, my you know, freelance customers- What is it
that they have been doing with me that they like, in future
what it what do they think that they need from me and what I can
help them more." So I should kind of be beta tested my
regular customers with just a package and say okay, so now
this package of unlimited design. You just pay monthly
it's a fixed rate. So remember before that, you know, you will
invoice per project and you will always tell me "Oh no, Can this
be lower, you know, is it on my budget?" and then the next
month, maybe you have some more, and I have to give you different
invoices, and you are actually not sure of the full budget in
the end, right. So right now you have a fixed budget every month,
and this is what you know, you will come up with for design
only. "Is this good?" And they say, "Okay, let's try it out."
So they pay it. They try. They love it. So a lot of them
continue until then until now from the start, which is like
five, six years already. So back to validating the idea, which is
maybe your first few customers, I think if they pay, and they
carry on, that's validation, right? I mean, what 1 to 3
customers is good.
Linh: Validating, you know, go to your ideal client, not
someone that doesn't have money and that aren't gonna buy from
you, not your friend, Is this a good idea or not? It's the
actual potential client, whether you're doing a pro bono, or
really discounted at the beginning, just to validate the
idea. But like you said, make sure that the service is easy to
produce and scalable. Like, can you can a client come in, get
what they want, but they needed every month and again and again.
And you actually make it easier for them to want it every month.
And we're not here to say just we want you to focus on charging
everyone. That's not what it's like, how can you make their
life easy, because you're there every month making it easy for
them, hence, they will pay you as well. So that is what I yeah,
I guess we can talk a lot more about this in our community. So
thank you so much, Marilyn, I think we've given them enough
taste of what those three steps are. But there's a lot more
steps involved in it. Just like some other topics that we've
already covered in the group. So far marketing, recruitment of VA
and you know, soon we're go ng to talk about payments and st
ff as well. So thank you so mu h, Marilyn.
Marilyn: Thank you, Linh.
Linh: So as you can see there are some steps you need to take
in order to succeed in business then it starts with the right
mindset. And it starts with finding that niche now to help
you find that niche. Would love to hear in the comments below.
If you need help What if by just sharing with us, what's your
passion? What's your expertise? What has been your industry
experience? Because that that way we can actually come up with
some ideas and share with you and of course I would love to
welcome you to try out productize kit with us. If not
you can continue to learn some more content by watching these
videos here.