If you’re looking to start a new business, you first need to be able to provide a valuable product or service to your audience while also being able to make money. One of the first steps to accomplishing this is to figure out what you have an expertise in. This can oftentimes be easier said than done, though.
Unfortunately, many individuals don’t put in enough time, research, and work into the planning stage before they start building their business. This is why many businesses fail within the first few years of operation. If you can first discover what your expertise is, you will greatly improve your chances of success as you begin to build your new business.
Each of us is an expert at something, even if you don’t believe that about yourself. The funny thing is if you merely know 1% more than others you are around, you are considered an expert. Many entrepreneurs and would be experts have a hard time wrapping their mind around this idea. They simply do not realize how smart they actually are.
If you are having a hard time figuring out your expertise, there are seven points that help to break down what it takes to be an expert in anything. Read over the list and think about which of the points apply to you. You find that many of them apply to you, it is likely that you are already an expert in your niche, and could potentially create a service for business around your expertise. The seven points are:
- you have more knowledge than others
- your credentials are recognized
- can show people your expertise
- your success has a proven track record
- others can testify about your expertise
- you have faced many failures
- you are referred to by other experts
There are several sites, such as the open forum on Quora, where you can participate and answer questions about your industry to become even more of an expert. After looking through the site, determine how many questions and answers our own there that are related to your niche and expertise. This will help you determine if your expertise is a valuable asset to others.