A few weeks back I shared some very cool ways people are cashing in on the enormous popularity of yoga.
Well, I’ve dug up some more neat business ideas. These too, happen to be in the yoga space.
WARNING: If you think this article is about starting a yoga business you’re not only missing the boat, you may be missing your calling!
Because just like last time, this article is really about how you can “steal” the essence of other business ideas to come up with your own money-making business.
1) Combine Two Unrelated Things
For instance, last time I told you about how enterprising self-bossers who found a way to link yoga with kids, dogs, even horses.
Indeed, some of the best business ideas come from combining two unrelated things.
Would you ever think to combine knitting and yoga?
Knitting enthusiast Lisa B. Evans did.
She took these two unrelated interests and turned them into popular workshop-retreats in scenic Vermont, Maine, and New Mexico.
For the last twelve years, enthusiastic knitters have paid between $975 and $1,875 plus lodging to go on one of Lisa’s “Knitting and Yoga Adventures!”
Steal this idea
Make a list of your own interests and gifts. Think too about any enduring trends…
- the environment
- mystery novels
- auto repair
- specialty teas
- beer making
- Italian cooking
Then look for unlikely connections between your interest and other seemingly unrelated things.
What about a mystery tea shopping tour in London?
Or beer making classes that end with participants enjoying a frosty one while watching Monday night football or include a visit by a former NFL player?
Keep in mind your new income stream could be:
- full time or part-time
- something you do once a year in connection with a fair, film festival, or other local event
- something that builds on some other date-specific theme or event like a championship series, the summer solstice, etc.
Instead of trying to find an idea that will replace your entire salary, see if you can come up with a way to generate $10,000. And start there.
2) Make it a vacation
If someone will pay to engage in an activity at home, there’s an excellent chance they’ll travel to partake in that same interest elsewhere.
No wonder Yoga retreats are hugely popular.
So much so that when Jessie and Brad Wigh were looking for a way to make Belize their year round home they decided a full-time yoga retreat was the way to go.
Today Belize Yoga offers both ocean side and jungle getaways.
You don’t need to relocate or own your own retreat center to cash in on the vacation-retreat model.
The Kalani in Hawaii is one of many existing centers eager for you hold your gathering at their location.
Steal this idea
Remember, you don’t have to practice yoga to sell to people who do.
But the fact that there are so many yoga retreats tells us there are opportunities to be had.
One way to exercise your idea muscles is to visit some yoga retreat centers (or any niche business really) to see what add-on products or services you might provide to owners.
For example, if there’s no store on site, you could provide a pop-up store featuring customized yoga-apparel as well as some of the more unusual products featured in the last post.
Or forget yoga
Instead make a list of other popular hobbies or interests like ballroom dancing, dogs, or photography.
Next research vacations that cater to people with these interests and study these offerings.
Then design a lower or higher priced, longer or shorter, or otherwise unique vacation experience aimed at that same market
3) Go corporate
There are two ways to sell products or services.
You can sell to individual consumers.
Or you can start a business that sells products or services to other businesses – otherwise known as B2B.
Sticking with our yoga example…
Every day medium to large cities and resort areas play hosts to conferences and corporate gatherings.
If you’ve been to one of these, then you know participants spend eight or more hours sitting.
Yoga Farm is one of many studios that partners with hotels or event meeting planners to supply early morning and break time yoga for sitting-weary conference participants.
Steal this idea
How can your current idea or business lend itself to the needs of other businesses – or for that matter, government or non-profits?
What value can you offer these organization’s employees, customers, or constituents?
For instance, someone who teaches art or cooking, could partner with local employers to bring your class into the workplace or offer employee discounts.
If you think corporations wouldn’t bother with a solo-business person like yourself – think again.
I once partnered with a local bank to lead a lunch-and-learn series for small business owners.
Participants paid a small fee to attend and as importantly, I gained the credibility of being endorsed by the bank.
Every day corporations hire coaches, fitness instructors, personal chefs, product vendors, social media consultants, senior assistance and pre-retirement experts, and others to help them achieve their HR and sales goals.
Belinda Pruyne ought to know. As a corporate executive, she was one of the people signing big contracts with outside vendors.
Belinda put together a training video training on what it takes for the “little guy” to get big corporate contracts.
And who better to learn from than someone who was essentially writing the checks!
Are You Ready to Find YOUR Calling?
Learn more about my laser focused idea generation and planning consultation here.
I still have a few openings in October.
Life is short my change seeking friend.
If you’re ready to work at what you love – even if you don’t work with me — please don’t let your dream wait another day.