Starting a profitable small business isn't a simple task, to be honest with you, most starting entrepreneurs don't get it right, they get distracted with all minor details that don't get profitable results and that's why they fail in business.
In this course, we will eliminate all the non-sense and non-measurable theories that don't drive any proven results and focus on six primary pillars that will get your business to profitability.
Foremost, you need to understand that the primary job of an entrepreneur is to create products and services that customers want, then sell those solutions to a buying customer and generate profit. No less, no more, it's that simple.
Therefore, you should not distract yourself with minor details that don't matter to the bottom line of your business.
Successful entrepreneurs rely on the following six pillars to build a successful business:
Finding what the customer wants:
The most important pillar of starting a business is understanding what a buying customer wants to buy. Without having the right product-market fit, you won't find a buying customer which will cause your effort and resources to end in the garbage totally wasted.
In this course, we will look at the primary reasons people make a buying decision and dig deep into people's daily challenges, then find what problems do people must solve to advance in their life, and here where the gold is, my friend!
I will also walk you through the process of how to niche your solution so you can focus your effort on a small group of customers and make the most profit rather than spreading your business way too thin getting no noticeable results.
Developing an affordable solution:
The second most important pillar for building a profitable business is to find out how you can develop a solution at a price point a customer can afford.
Imagine that you have created the best solution for a customer but they can't afford it then what is the point of your solution? You have failed as an entrepreneur to solve the customer problem even if you got the solution right.
Affordable doesn't mean cheap, it just means that it suits your customer and that's where you will learn in this course which group of customers you have to target to make the most profit as a small business without sacrificing your margins.
I will also teach you how to find the competitive market price of your solution then reverse engineer the cost of making a product, from there we will look at two primary methods of how to develop a product the customer can afford and make sense to your business in terms of cost, production efficiency and profit.
Establishing marketing channels:
The third most important pillar of starting a small business is to understand which marketing methods are the fastest, most cost-effective, and results-driven for marketing a small business on a small budget, it's during this phase most small businesses get lost in small details and overspend on marketing tactics that make no sales.
In this course, you will get a special treat from me with marketing. I will provide you with tons of examples and tactics and strategies on how you can market your solution and generate your first sales.
You will also get a bonus video from my best-selling marketing course and get to learn all the strategies and tactics of how to plan for your marketing automated systems and funnel.
Establishing distribution channel:
Once your customer notices your product, they need to go somewhere and buy your product, that makes sense doesn't? However, you have no idea of how many small business entrepreneurs do not know how to distribute a product to a customer and make a sale, here where distribution channels come into place.
I want to tell you for now that not all distribution channels are created equal for a small business on a budget and that's why in this course we will focus on the best strategies to start your small business and distribute your product to your customer at a minimum cost while making the most profit.
Establishing trust with a customer:
Without customers' trust, you can't make a sale, my friend, it's that simple. Most online gurus try to sell you marketing tactics without taking into consideration that the customer still doesn't have trust in your business and that's why you are not making any sales.
In this course, I will teach you how to establish trust with your customer through my simple formula "hook, sell, impress, ask and repeat", this formula will not only help you make your first sales but also nurture a relationship with a customer through a money transaction and if you have done a great job will get you tons of a free word-of-mouth marketing.
Designing a profitable business model:
Let's be practical, shall we? A for-profit business is all about serving a customer while making a profit and it's not about the number of activities a small business does or the hard work the entrepreneur puts into their business.
Most starting businesses don't become profitable and that's for the reason is that they have no control over their costs and don't have a profitable business model besides diverse sources of revenue.
This will make the small business drown in its costs while having no predictable, consistent, or recurring source of revenue to help it and survive through hard times.
Well...! you don't have to worry anymore, that's why you got me! In this course, you will learn how to solve this frustrating and business murdering problem and generate more profit from the same customer but with different offers and revenue models.
What is the goal of this course?
The goal of this course is not to overwhelm you with all the minor details that won't matter about kick-starting a business or teaching you the fastest way to becoming rich.
I simply designed this course for people struggling to kick-start their small business on a tight budget and who can't find a quick answer to their situation.
I designed mainly this course around a business with a product, however; I believe that the six pillars apply to all kinds of small businesses, assuming that you are open-minded
enough and willing to translate the knowledge to your business.
I have designed this course with simple but challenging exercises that will shift your mindset about entrepreneurship and get you faster results with starting your profitable small business.
I will see on the inside.
Your project for this course is to plan for a simple strategy of how you would kick-start your small business.
Your plan needs to include:
- A brief description of your customer pain-point.
- Brainstorm different solutions that solve the customer pain-point.
- A simple marketing and promotion plan.
- A profitable business model plan that includes a diverse source of income.