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  • Writer's pictureElaine Thompson

Are You Sabotaging Your Wealth Potential?

I was having lunch with a good friend of mine who told me of a problem she was facing. Let’s call her “June.” June expressed that she was struggling with visibility and gaining a following. She also expressed that it was challenging as an entrepreneur and that she wasn’t sure if she should continue her entrepreneurial journey. She disclosed that she was seriously considering returning to her previous role, which was as a telephone operator in a corporate establishment. She was confident in her potential, but her sales were low. She was sure she had something to offer, but her income did not reflect the vision she had for her brand.

I suggested that she ask herself the following questions:

·What am I passionate about?

·Whom do I serve?

·What do I offer?

·How do I service them?

June sat down and assessed her business against the questions I had just asked. Right away, she cross-examined herself and came to the conclusion that she happily serviced anyone and everyone who could benefit from her in any possible way. She also determined that she was passionate about helping in whatever way she could. She offered products and services ranging from speaking engagements, courses, website design, cups, mugs, t-shirts, writing services, business coaching, graphic design, childhood development coaching, food and nutrition coaching, recipe gift packages, corporate career coaching, executive coaching, relationship coaching, and the list went on forever. She offered all products and services via her website and under the banner of a single logo.

I looked at her and said, “This is where your problem lies.”

“Where?” she asked curiously.

“You’re sabotaging your wealth potential. Your true passion is helping others find their purpose. However, you’re busy with food and nutrition coaching and countless unaligned distractions.” I began to point out the innumerable mistakes she had been making.

June’s business had no niche. She had no specialized segment of the market for a particular kind of product or service. She hopped from one hobby to the next in hopes that something would catch. There was no time to grow the childhood development segment of her business because she was busy growing the food and nutrition part of it. There was no time to grow the clothing side of her business because she was busy putting time into the executive coaching services. She was also passionate about almost everything. She served nearly everyone, and she offered the whole shebang of services. When asked why she offered such a variety of services, she replied, “They’re things I know how to do, and I really need the money.”

The one factor that usually trips people up is money. I’m not saying money is not needed, but it should never be the driving factor behind what you do. Never chase money. As long as you bring undeniable value to your target market, wealth will follow. Why? Because that market will realize it cannot survive without you. Your services will remain necessary as long as you’re a valuable asset to the industry.

A painter is necessary because there are many houses that need painting. They can gain clients by networking with real estate agencies, newlyweds, and construction companies, as well as by relying on some one-on-one sales gained as a result of ads, flyers, word of mouth, and more. A gardener is necessary because there are many lawns and turfs that need tending. There is also the potential in that industry that opens up the market of people who want to grow their own food. The gardener can gain clients by networking, word of mouth, or maybe even going door to door. They can also gain clients by tending the lawns of corporations, schools, and churches. Your talent and skills are valuable. The knowledge you possess is valuable. You are valuable. That thing you bring to the table is valuable. That thing that you do like only you can do is valuable because it is necessary, and there is a market for it.

I then sought to reverse the questions on myself. I am passionate about writing. I serve clients who would like to discover their author potential. I meet them where they are in their journey, mentally and financially, by offering courses, coaching, ghostwriting services, and book prep services. I service them via my website, Zoom sessions, and/or in person. My niche remains the same throughout all four services I offer: writing.

Yes, I have other interests. However, they are not all found under the same logo. The best way to balance an overflow of interests is to separate them and then expand on each of them. By doing this, each interest or passion can have its own strong foundation upon which you can build, grow, and develop accordingly.

It’s great that June has so many talents and interests. Many are still trying to discover their talents. I commend her for not holding back and having the courage to put herself out there. Not many embrace their potential in the least. Not many are brave enough to get started somewhere. Her fearlessness is astounding and deserves a round of applause. However, not separating your interests can hold back your wealth potential. Your niche is like a spousal relationship. It is at its absolute best when you give it the attention it needs and keep it nurtured with healthy elements. Take the time to properly develop each foundation, and be patient while building each one. Appreciate each step. Learn from each phase. Remain knowledgeable throughout your experience. Most importantly, enjoy the growth, and never give up. Simply remain organized mentally. In return, your clients won’t need any clarity. What you offer will be evident upon visiting your website or platform. Once this is established, you’ll see tremendous results. I hope this helps!

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