How To Turn Any Idea Into A Profitable Business

Transcription

1 How To Turn Any Idea Into A Profitable Business

2 Who Is Sam Olawale? I Am Just Like You

3 You Can Have More Than You ve Got Because You Can Become More Than You Are

4 The Industrial Revolution Is Over

5 Physical Products Digital Products Personal Blogs Crowdfunding Online Platforms Books & Ebooks Physical Books Brick & Mortar PRODUCT LAUNCHING Formula: Correct Philosophy + Action = Results

6 Driving Is Just A Skill Like Any Other

7 The Skill Of Driving Becomes Subconscious

8 FUNDAMENTALLY Learning The Skills Of Driving Is Just As Easy As Learning The Skills To Become Successful THEY ARE EXACTLY THE SAME

9 Idea = Anything You Can Think Of

10 Why Do People Buy Anything? It solves a problem It makes life easier or better (hacking) It adds kudos to people s lives (makes people look and/or feel good)

11 PEOPLE DON T WANT MORE PRODUCTS THEY NEED BETTER SOLUTIONS Make it more aesthetically pleasing Make it easier/simpler to use Improve functionality

12 Conceptualising Your Idea What problem(s) does my product solve? How will my product solve this problem? What s the main benefit to the consumer?

13 Define Your Ideal Customer How old is my ideal customer? Where do they live? What products are they currently using that my product will replace? Where would they buy similar products? Where do they spend most of their time, online and offline? What are they willing to pay for? What are their pain points? What are their main fears and frustrations? What are their top wants and desires?

14 Create A Consumption Matrix Why will they use my product? When will they use my product? Where will they use my product? How will they use my product? Create A Hero Matrix How will the customer stand out from the crowd by using my product? What is the most impressive thing my product will highlight about the customer?

15 Conduct Thorough Research Web traffic Seo Analysis, Competition Analysis, Social following Page Rankings Key Word & Search Analysis Perform a Patent Search Your aim is to establish a demand for your idea/product

16 Conduct MORE Research Who s my target market? Who s my competition (if any)? What s the total production cost? (have some sort of estimation in your mind) What s the targeted selling price? (based on market analysis) What s my plan after launching? (do you want to get it into retail?) Do I have to educate my audience? YOU CAN NEVER KNOW ENOUGH

17 Competition Is Good Market is established Demand is there Get more accurate costs You can do analysis Adopt what s good Improve on the bad

18 Testing & Validating Your Idea NEVER SKIP THIS

19 Testing & Validating Your Idea Step #1: Create A Dummy Sales Page Large, clean and clear product image (above the fold) Product name & tagline (above the fold) BUY button & price (above the fold) Action images of the product (throughout the page) Product description & No#1 product benefit (a maximum of 4 more benefits) BUY button & price Action images of the product (throughout the page) BUY button & price

20 Testing & Validating Your Idea Step #2: Sorry We Are Sold Out Page Due to high demand we re currently out of stock or sold out We ll send you a notification when we have availability. For the inconvenience, we d love to offer you a 10% discount Have a button or lead capture box

21 Testing & Validating Your Idea Step #3: Drive Paid Traffic To Your Page Make Adverts As Targeted As Possible Track Your Conversion Rate

22 Testing & Validating Recap Create a dummy sales page Create a sold out page Add a lead capture box Divert to a survey (optional) Create adverts and drive paid traffic TRACK YOUR CONVERSION IF IT S A POSITIVE RESULT. MOVE FULL STEAM AHEAD AT LIGHTNING SPEED

23 Designing Your Digital Product Go online or offline and find people who need and can benefit from your knowledge Ask them to be beta testers Ask for feedback all along the way Do it for free and genuinely help 5-10 people succeed This will help you build awesome, VERY specific information that people will want to buy!

24 Digital Products = Teaching How To Ebooks Books Online platforms Apps Audiobooks Video courses Text & Graphics In total the cost of this can be $200 - $2000 depending how much you re willing to invest. YOU RE GETTING PAID FOR YOUR KNOWLEDGE & EXPERTISE

25 Designing Your Physical Product In total the cost of this can be $500 - $5000+ depending on your product or idea.

26 Prototyping Your Physical Product Prototyping Your Product - Physical

27 Value = Bringing Value To The Marketplace You must be an authority You have to demonstrate your product works (testimonials) People need to feel comfortable buying from you People must be able to trust you Marketing = How You Present Yourself To The Marketplace

28 IN A DIGITALLY INTERCONNECTED WORLD YOU CAN REACH PEOPLE EASILY A professional looking website goes a long way (Spend $50 and buy a premium Wordpress theme) You re going to need to learn how to use WP or pay someone who knows You need to learn how to communicate via You need to be able to build and manage a social media presence FORMULA TO SUCCESS = BRINGING AS MUCH VALUE TO AS MANY PEOPLE AS POSSIBLE

29 BRINGING VALUE WILL: GROW YOUR LIST GROW YOUR SOCIAL PRESENCE 80 / 20 Rule 20% = Creating Content 80% = Distributing Content

30 Focus On Product not product features

31 BUILD YOUR LIST! Content Content Upgrades gets them through the door gets them onto your list Value Proposition Communicate product offer to generate sales build more value through

32 Engaging Your List & Building Added Value Know Your Audience Give Value First Tell The Story Of YOU & Your Product Give An Irresistible Value Proposition Sales Come Naturally

33 DIGITAL PRODUCTS Engaging Your List & Building Added Value Roughly a week before the launch you should start the pre-launch sequence Create 3-5 pieces of content to be sent out throughout the week (VIDEOS if possible) Send personalised s with links to the videos In each piece of content, give one piece of really valuable information At the end of each piece of content, ask them to share and comment (this will allow you to start building the FAQ s section of your sales page) On the penultimate piece of content (before you make the offer), tell them an offer is coming and explain the benefits of purchasing straight away Send the final telling them the launch is live and reiterate the benefits of purchasing straight away with early bird offers

34 PHYSICAL PRODUCTS (crowdfunding) Engaging Your List & Building Added Value Roughly a week before the launch you should start the pre-launch sequence Create 3-5 pieces of content to be sent out throughout the week (VIDEOS if possible) Send personalised s with links to the videos At the end of each piece of content, ask them to share and comment (this will allow you to start building the FAQ s section of your sales page) Focus on how your product will add value to the customer s life Explain in detail how your product will solve problems Explain why you are crowdfunding the project Mention the early bird offers that are coming and the benefits of jumping on board the moment the campaign starts

35 RECAP 1 CREAT A PRODUCT 2 It solves a problem It makes life easier or better (hacking) It adds kudos to people s lives 3 CONDUCT MARKET RESEARCH 4 Feasibility study Competitor analysis CREATE A UNIQUE USP You can make is more aesthetically pleasing Make it easier/simpler to use Improve functionality TEST & VALIDATE Feasibility study Competitor analysis 5 Digital Products: Create prototypes + beta testers to use the product Physical Products: Find 5-10 people you can help to beta test and create a product around them 6 FOCUSSED ON LIST BUILDING 7 Build your audience and social following by bringing value ENGAGE YOUR LIST Bring more value and get them ready for your launch. 8 LAUNCH & PROSPER

36 Examples Of Successful Launches DIGITAL PHYSICAL 3.5 years = $6.2m $851, days 5 years Makes Hundreds Of Thousands Each Year $1,400, days B O D Y R O C K 9 Years +700,000,000 Views = Million Dollar Business SMART PARKA $2,600, days foundr 2 Years = Million Dollar Business LocTote $850, days

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