How To Finally Discover Your Business Idea at 50+

"I've lost my job, I'm 57 and I've always wanted to do something on my own but I have no idea what I could do to start a business."

"If I had the guts, thought I'd succeed, I'd create a business focused on my love of music. But I can't really make any money doing that.. can I?"

"I've been in the corporate world for 28 years. I am not a natural entrepreneur. My job prospects are pretty dismal at this point, and I really am sick and tired of turning my fate over to wise-ass hiring managers who don't care a thing about quality or work ethic or skill. What could I do on my own? I have NO IDEA."

These are just a few of the real things 50+ers are sharing with me on the hundreds of calls and conversations I have had with them about creating Career Chapter 2 after the age of 50.

I get it. I've been there too.

When I left my corporate career after 20 years in the manufacturing business, I was 100% certain that all I was suited for was marketing women's underwear. Boy, was I ever wrong!

And I wandered in the 'what business should I start?' desert, trying to figure it out on my own for about 6 months until....

....some pretty amazing things happened to turn the tide.

• I tried something I hated
• I took my first professionally coached life-altering program
• I listened at a level I had never done before - to ideas, perspectives, the words people used, how they described complaints and problems
• I stopped listening to that little voice in my head that said "Who are you to start a business? You're too old and not equipped for that."
• I started reading non-fiction books and let the "aha's" in. I started hearing the messages that I was too busy to before. I stopped listening to noise, and started to listen to my heart and my inner self.

Maybe this sounds a bit woo-woo to you.

Hell, I don't blame you. I am not a woo-woo person, and definitely wasn't back then.

But now, after coaching many people over 50 into their new lives, careers, businesses, often after they have been coming up blank about what business idea they should develop, I felt compelled to design a method that really opens up pathways that makes sense and is effective - for those who truly yearn to be their own boss, never see a pink slip or resume again, and want unlimited autonomy and earning potential. The right idea will emerge!

The "Discover My Business Idea Method" is a 3-stage process:

1. Internal Exploration
2. External Research
3. Active Listening

At the end of this article I'm going to share with you 4 real life examples of how Active Listening led to the most powerful and tangible successes in my business and in the businesses of clients.

But first, let me unpack what I mean by each of these stages:

Internal Exploration

This first phase is a deep inner journey toward self-awareness, learning more about what really drives you, what stops you, what you are passionate about, what motivates and interests you, and what values are essential for you to feel fulfilled.

A foundational piece of the process includes mindset fitness work so that acceptance of new opportunities and belief in yourself can take hold. Without mindset fitness, self-doubt and negative self-talk can kill off any potential and creative thinking.

For years, people tend to put off this inner journey work because they are busy, preoccupied with to do lists, being very busy, and distracted.

So this first component is the most powerful - and essential.

External Research

Once awareness of passions and interests, as well as personal values, are uncovered, it's time to do some external assessments and research.

As it relates to you, it's time to take stock of your external skills, talents, and expertise.

It's a time to do "structured" brainstorming.

It's also a time to research trends, directions, and challenges in the marketplace.

In this phase, you are researching niche markets, product and service ideas.

In this phase, you begin to identify the pressing problems and challenges you notice around you.

Problems = Opportunity

Active Listening

Active listening isn't ordinary garden-variety listening.

It's a deep level of listening and awareness. It's opening up your mind and ears so you can hear "aha" messages.

Hearing new ideas, opportunities, feedback, potential and even verbiage can hit you in powerful new ways.

Suddenly, when you are actively listening, you "get" direction, pathways, opportunity, and even the marketing direction you never saw before.

Suddenly, you can hear the exact words for your message, the exact direction, and even validation of an idea.

(It also means not listening to that negative self-talk coming from unfounded fear.)

By the end of these three stages, you will likely have one or maybe several ideas from which to narrow down. You begin to assess and do the beginning of business idea validation, i.e. early stage "will it fly" exploration.

Earlier, I said I would share with you several examples of how "Active Listening" catapulted my business, and the business of clients, more powerfully than almost any other "linear thinking" approaches.

Just a few of my and others' 'active listening' breakthroughs:

• I wouldn't be in my own thriving coaching and training business today if I hadn't been actively listening to the last half hour of the last day of a training course. The topic was on life purpose (I had never heard that expression before). That's when I realized, when I 'heard', that it was my purpose to guide others in careers and business they loved and were handsomely paid for. My bond with this purpose hasn't diminished after 19 years in business - in fact it's deepened.
• My client wouldn't be out on her own in a business she loves if she hadn't been actively listening to a podcast interviewee sharing a story much like her own. She had listened to dozens of these podcasts, but this time, her ears, mind, and heart were open. The message hit her right between the eyes and empowered her to take action - now!
• I never would have named my business The Business Fox if someone hadn't tweeted 'that Nancy Fox is a business fox.' That was how my brand was born. I heard that tweet as if it was the lid of a treasure chest opening up. I had worked with numerous branding gurus but none came up with anything that unique and fitting. And that led to Network Like A Fox - the name of my book - and other programs and courses, all playing off that branding message.

How long have you wanted to go off on your own, be your own boss, but haven't a clue about what your business should be? I invite you to book a complimentary Discovery Call with me so I can show you how you can finally discover your best business idea.

Life is not getting any longer, and it's certainly not a dress rehearsal.

If you're 50 or over and have been yearning to go out on your own, fearful of making a mistake, don't let your mindset stop you from having a much more fulfilling, lucrative life.

You can discover what your brilliant business idea is. Maybe you have just been trying to do it alone and listening to yourself "in stereo". How's that going for you?

Perhaps you'd like to learn more about the "How" these three steps work to lead you to your ideal business direction. Want to learn more? Book a call and let's chat.

You have nothing to lose and your new life of passion, purpose, and prosperity to gain. Think about this: new clients and customers are waiting for you and your business idea/solution.

Are you in?

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Nancy Fox is the leading high-performance business strategy and confidence coach for entrepreneurs at 50+, creator of The Business Fox Start Up School and Discover My Business Idea Method. She helps former execs and entrepreneurs turn their know-how and expertise into highly profitable 6 and 7 figure service, consulting or coaching businesses. For more details she can be reached here.

Join her FREE Facebook group: Entrepreneurs Fired Up After Fifty