Ep 31: 3 Steps To Starting Your Business On A Steady Foundation

Oct 29, 2020

Ep 31: 3 Steps To Starting Your Business On A Steady Foundation

 

Release 10/30

 

We're going to dive a little bit deeper into your work from home business or the business that you're looking to build right now and how you can do it on a steady foundation. If you were to be one of my coaching clients, this is mainly how my first calls go. It would be determining the service that you offer, the clients who you serve and the offers that you can provide them. So I'm going to go through this with you and hope that I can help you guys gain a little bit more clarity, direction and focus so that you can get started in your business on a steady foundation. The three areas we’re going to cover are services, clients and offers. And sometimes these are something that people who start a new business don't often think about fully, which I think these three things are absolutely crucial before you even get started in your business.

We're going to start with services. I want you guys to think right now, what problem can you solve for someone? At one point in these episodes, we talked about how you guys can combine your skills, passions, and expertise, and basically find your zone of impact. If you guys have not yet heard that episode, it's episode 26 called Your Zone of Impact.  So I would love it. If you guys would pause this, go back, listen to your zone of impact, and then come back to this episode. We need to get very clear on your services before we do anything else. Because you need to specialize in something. I want you to think of a doctor versus a surgeon. Okay? Which one is paid more? Obviously a surgeon is paid so much more because they specialize in what they're doing, where a doctor is more like a general practitioner.

We need to have clarity on what your main point of focus for this business is going to be. So what are you good at doing? What do you enjoy? And how can you combine that with something that you're really good at, that would solve a problem for someone else? Think about it this way. If you do marketing for a business, if you specialize in something like marketing for holistic health coaches, if a holistic health coach comes across your page and realize that you market specifically for them, they're going to be much more inclined to work with you than somebody who's just a general marketer for any type of small business.

In this really competitive online space, that's developing, it's really important for you to become extremely specialized. That way you can start to speak directly to your ideal client. So really think guys write this down. What problem can you solve for someone? And what can you specialize in that helps you stand out against the competition so you can become category King or the category queen in that specific field, meaning that when people start to think of say marketing, for example, for holistic health coaches, they start to think of you and associate you as being the best. That's what you want. So you need to get very clear on the services that you provide.

If you're kind of a Jack of all trades say you are a virtual assistant who knows how to do blog creation, funnel, building website, building, email, drip sequences, and social media management, email mat management, SOP is, you know, if you're kind of doing all of the things, that's totally great, but you need to pick one thing and become the best at it. Figure out your services, get very, very clear, pick one thing, one thing you can specialize in, and then all of those other talents and skills that you have are going to be extra. They're going to be bonuses, but you've got to be able to basically say your service in one sentence. Like, what do you do? For me, I'm a business coach who specializes in Amazon FBA, where I help moms generate passive income for freedom. There you go. That's exactly what I do. It's very simple. It's very straightforward and it's niched down. So you guys need to have a similar sentence for your business. So it's very clear what services or products you provide.

Now, moving on to number two is your clients. So who is your ideal client? Like, think about this. Who would you enjoy working for? They should have a single profession. Back to my previous example of holistic health coaches, when you speak to one profession like holistic health coaches, not only can you start to charge a premium for your services because you become the category King or queen, but you can start to target your messaging and target your ads directly to that one person. If your target client is a female yoga instructor who has an online practice, you can target that person directly based on how you're communicating, how you're showing up on social media and what your website looks like. Right? It can be tailored to speak directly to your ideal client. We've talked about it before, finding your ideal avatar. This is basically roped into this. These three things we're going through right now are going to help you get your business started on a steady foundation, no matter what type of business that is.

It's important to get clear in all three of these areas. Once you figure out who the ideal client is, in what service you can provide them, you need to get very specific and very niche down here. I want you guys to do some research on this. I want you to find where those people are hanging out on social media and find some direct competitors who are offering the services that you are to your ideal client and start following them and seeing what they're doing. Look at how they're speaking to your ideal client and what type of offers they're putting out there to the world. And from there, we are going to talk about honing in on your avatar honing in on that ideal client, right? Because when you guys speak to everyone, you really speak to no one.

We're going to talk now about the offers that you should create in your business. And I'm going to break it down into three parts. We're going to have a DIY, which is do it yourself. We're going to have a done with you and av done for you offer, this would be your value ladder. So as we transition from do it yourself to done with you, to done for you, the amount of time that you're spending with each client or on each product is going to increase. Therefore, the price that you're going to charge is also going to increase. But then at the start of that, to get people into your value ladder, we want to have some freebies built up.

Which those are going to be the assets and the lead generation items that you've created to bring people into your world. These freebies are gonna drip people into your three different offers that you're going to create. I want you guys to start by thinking... Do I have any freebie offers in place right now? If no. What could you create for your ideal client that would provide them some type of value related to the service that you provide as well? Really think about this. It can be something as simple as a PDF, download as a video that you do, maybe a short five minute training. It can be so simple. Don't overcomplicate this, you just need some type of freebie and I'll give you an example for myself. I do have a lot of PDF downloads that are free, that just add value to my ideal client. But then I also have free challenges that are a few days long that do in-depth coaching and training every single day. And then I also have a webinar that's an hour long, that kind of shortcuts and takes out all the juicy parts of that four to seven day training that I just discussed. So those are my freebie offers. And the point of them is to build up that know like, and trust factor with your ideal client and then get them into your value ladder. In that value ladder, after your freebie, you should have a do it yourself offer. And this is something that you've created that your client can go through on their own. They're learning from you, but you're not spending any time with them. Cause they're just going to do it on their own. It's the most hands-off on your part.

And it's definitely inexpensive. I would say somewhere from, I don't know, $27 to say $127 or $197, something that's a very low ticket because they're going to have to push through and do this on their own. That should be the start of your value ladder. And then a step up from that would be a done with you offer. So this would be something like a course with a coaching program or a health fitness program that you're going to walk through. It could be either one-on-one or group. You're not going to do it for them, but you're going to guide them and hold their hand along the way. You're going to make sure that they accomplish what they came to do. You're going to basically take them from point a to point B and you're going to show them and walk them through how to do it.

And this can be, like I said, in sync with the, do it yourself offer, which is a course, but done with you would include a kind of a coaching type of program as well. And then at the top of that value ladder, at least to get you guys started would be a done for you offer. And that be where your basically doing a majority of the work. It doesn't have to be everything, but you are really, really hands-on with this person to make sure that they're absolutely following through and that they're getting the results that you're promising them. So if I was doing done for you in mine, it would be like one-on-one business coaching that I'm very hands on in their business. I'm helping them and holding their hand along the entire journey. And I'm even helping them to create their own website and create their social media and, you know, doing all the backend stuff that they might find complicated.

I'm helping them with the knowledge that I've gained along the way to do that on my own. And now there are many other steps along the value ladder. There are a lot more things you could add to this, but if you're just starting out, I think those are just three offers, technically four with the freebie that you should have built out before you really start pushing your business too much. Because I think there are definitely a lot of people who will want to enter your value ladder at different stages. It's just really good to have those available for them. You can run these different packages. You can pull people through your value ladder. And then honestly, once you have these three things built out, you understand your clients and you have offers for those clients.

You can start getting those clients by generating leads, telling people what you're doing and finding your ideal client, and letting them know how you're going to help them. The first step for you would be getting clarity on these items. And then from there, you're going to be able to think about how you're going to get those clients where you're going to find them and how you're going to show up to serve them. Just remember you guys, the speed of implementation is the most important part. Messy action here beats no action. Plug away at this, get started and start your business on a steady foundation. I'm telling you when I first got started, I did not figure these three aspects of my business out. And it just left me feeling confused. I was stuck with too much competition and I really just couldn't even get started.

That is what I'm here to help you do is avoid that messy, messy, beginning, that many entrepreneurs go through and just save you guys that headache and nightmare of having to go back and figure it out a year, two years, three years down the road when you could have just done it from the beginning.

If you are interested in joining my Facebook group, I encourage you to head on over to Facebook and join the freedom maker tribe. I do jump in there and do live videos every single week, giving you guys additional training, especially in areas like this, that will help start your business on a steady foundation. Start a work-from-home business and start earning passive income. I would absolutely love to see each and every one of you inside because I love talking to you guys through the microphone, but I would much rather get to know you on a deeper level and have that communication back and forth and get to know you so love to see you there.

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