Look for unsolved problems or unmet needs. If you solve those problems or meet those needs will customers pay you? Is there an alternative revenue model such as paid advertising that you can tap into? Look for a match between your key strengths and the opportunities.
Become famous for something. Analyse the market and identify a niche that you can control. Whilst the niche might be small it can be used as a springboard for future growth.
When you have gone through the first four steps look for the alignment with your passion, what you are good at, what market you can own, where the growth opportunities are and what you can get paid for. If there is an alignment, congratulations, you have just started to find your X factor. If there is no alignment keep on looking.
Finding your X factor is an evolving process. It may not happen straight away, so build the discovery process into your planning.
You’ll know that you’re getting closer to your X factor when you align the answers to three pivotal questions:
Answer those three questions honestly and you will see your X factor emerge. Your business will begin to fly and you will start to achieve the reasons why you went into business in the first place.
