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How to Choose the RIGHT Business

Introduction

Introduction

Hello future millionaires! Welcome back to my channel. It's your girl Ellie Talks Money, and in today's video, we are doing something a little bit different. I have shared before that last year, I started my own show called Ask Ellie, a live business talk show. It was incredibly fun, and having a live studio audience that could ask questions directly was amazing. In particular, a lot of these questions pertain to how to choose what business to start, a very common question I get in my DMs and comments on my videos.

As always, grab your notebook, grab a pen, and let's get into these gems about business, money, and life.

Real-Life Interaction

At one of my Ask Ellie shows in Houston, Texas, a lovely woman named Jande came up to ask her questions. Here's a glimpse into our conversation:

Jande, who wore a stunning African-inspired outfit, shared how she stumbled on my content and how it changed her mindset. She talked about how she grew up in Africa and how my guidance led her to start an LLC even when she didn't fully understand what it entailed.

Her motivation is her daughter Allison, who she wants to set up for success. Jande purchased some of my courses, used a credit card with $ 500, and followed my steps to start her LLC in Texas. Although she built the foundation, she was unsure of the next steps.

The Business Concept

Jande explained that people often come to her for advice, particularly about relationships, cooking, and more. She wondered how to turn these skills into a business. With her being really good at cooking, particularly coconut soup, and offering heartfelt advice, I suggested she could merge these elements into her business.

Action Plan

Here’s the step-by-step plan we developed:

  1. Rebrand Instagram: Change her Instagram handle to something like "J Cooks" or "Cooking with J."
  2. Content Creation: By next Friday, Jande needs to post a video of her coconut soup recipe.
  3. Engage Audience: When visiting family in June, record their reactions to her cooking.
  4. Recipe Book: Create and launch a digital recipe book by June.
  5. Business Structure: While she has named her LLC “J MCS Enterprises,” she can file a DBA (Doing Business As) for her Instagram name.

This approach ensures her content is valuable and engaging, plus it offers monetization opportunities through digital products.

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Encouragement and Deadline

I really emphasized to Jande that she could post her recipes and advice on social media and it would be well-received. By providing a deadline, there's accountability.

Conclusion

Remember, your business idea is often something you're already doing daily. Believe in yourself, post that soup recipe, and you'll be amazed at what follows. Thanks for watching, and be sure to like, comment, and subscribe!

Keywords

Keywords:

  • Business Idea
  • LLC
  • Cooking Recipes
  • Social Media Engagement
  • Content Creation
  • Digital Products
  • Life Insurance
  • Ethos
  • Digital Recipe Book
  • Business Talk Show

FAQs

FAQ 1: How do I choose the right business to start?

Answer: Often, the best business idea is something you’re already doing daily. Identify what you’re good at and find a way to monetize it.

FAQ 2: What are the steps to starting an LLC?

Answer: You can start an LLC by choosing a business name, filing the necessary paperwork with your state, getting an EIN, and opening a business bank account.

FAQ 3: How can I engage my audience on social media?

Answer: Consistently post valuable content related to your niche. For instance, if you're good at cooking, share recipes, cooking tips, and videos of people's reactions to your food.

FAQ 4: How can I monetize my content?

Answer: Create digital products like recipe books, offer online courses, or provide consulting services. Make sure your social media content leads your audience to these products or services.

FAQ 5: Why is life insurance important, especially for new parents?

Answer: Life insurance provides financial protection for your family in the event of unforeseen circumstances. It ensures that your loved ones are taken care of even if something happens to you.

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