Lesson 6 of 56 Offer Creation Framework STEP 1: NICHE DOWN The main reason behind niching down is for you to be able to dominate, you can’t dominate if you’re targeting the same people that are being targeted by someone’s grandmother and the biggest corporations in the world. The process to niching down: 1. Pick a group of people and their current situation: Call out people by their current situation and their pain/ problems. 2. Find out their Desired outcome/situation The most important part of niching down is niching down after A PROBLEM! The mistake most people make when niching down is that they niche down by selecting a group of people and the issue with doing this is that you get penalized on pricing, timeframes, and a thousand other competitive scenarios where others will deliberately undercut you to earn the business away from you. Per example: Who would you pick to help you solve your problems if you were a real estate agent who is having an issue with nurturing and converting cold dead leads into new deals? Would you pick: ● Someone who says “ I help real estate agents get 10-20 qualified appointments and close an extra 1-3 deals per month” ● Someone who says “ I help real estate agents who are getting a good flow of appointments but can’t seem to turn those warm leads into deals, through a 12 months long nurturing system” If you were that real estate agent then we both know who you would pick if you received a cold message from the agency owner STEP 2: HYPOTHESIZE THEIR DESIRED OUTCOME AND GET FEEDBACK FROM THE MARKET From Step 1, you’ll have established what your niche’s problem(s) is and all you have to do in Step 2 is hypothesize on what the desired outcome would be for your niche if you were to solve their problem. The desired outcome can be vague at first but you will need to get feedback from the market in order to find out the exact desired outcome of your niche. Your goal shouldn’t be to remain with the same promise/outcome as when you first started serving a specific niche, if it is, then it means that you haven’t evolved your promise into the perfect promise. An example of a hypothesis of a desired outcome: ● Build a predictable VSL funnel to acquire customers. An example of a proven desired outcome: ● Build a brand and an audience and have clients raining down from heaven, without a single cold DM or a single $ spent on paid advertising. STEP 3: DECIDE ON THE MECHANISM THAT WILL BE USED TO DELIVER THE DESIRED RESULT It is important for you to have a clear path you’ll take or lead your customers through for them to achieve their desired outcome. Once you have figured out what that mechanism is, please give it a name! The reason I suggest creating a name for your mechanism instead of saying things like “ through Facebook ads” OR “ through email marketing” OR “through outbound prospecting” is because you need to create curiosity in your niche and you need to be different from everyone else who is selling them the same mechanism! An example of such a name in ecom could be: Helping {E-commerce businesses} accelerate their growth through Our Advanced E-commerce Blueprint. Ps: {E-commerce businesses} shouldn’t be used if you are following our niching down process. STEP 4: CREATE YOUR OFFER OFFER MESSAGE FRAMEWORK: I help {specific group of people} {in a specific painful situation} get {a specific desired result} through { name of your mechanism} in {time frame} If you want to make it longer and more specific: I help {specific group of people} {in a specific painful situation} get {a specific desired result} through { name of your mechanism} in {time frame} without {remove the pain these people would normally face if they tried achieving outcome through other processes} The only two things that matter in your offer are the HOW and WHAT. How: is the mechanism you use to deliver the result, It can’t be the same as the things they’ve tried before OR even if it is you need to add on it, to make it more enticing for them again. WHAT: is the outcome that you are promising your market. If you’re promising them a result they don’t care about then no one will take your offer. In step 2, we covered the fact that the only way you can find out the truth about what your market desires is by talking to YOUR MARKET! I can’t tell you what they want, only to find out by asking questions to your market. HOW I CAME UP WITH MY OFFER: I picked my niche: Agency owners who are struggling to fill up their calendars with quality leads or that are tired of spending thousands of $ on paid ads without a predictable outcome. I hypothesized about the desired outcome: Running A Half A Million $ A Year Agency. I decided on the mechanism I would use to help them achieve their desired outcome: Consulting program which goes over how to create magical offers, picking the right niche in order to dominate, building a six figures outbound prospecting campaign, and building a personal brand with hundreds/ thousands of ideal clients as their audience. My message became: I Make It Unreasonable For You To Not Run A Half A Mill A Year Agency through xx ( i can pick any of the components of the program when I’m filling the last part out) https://player.vimeo.com/video/651288503?h=69656fe52b The purpose of this framework is to help you gain an edge over your competitors and share a message that is crystal clear to your niche and share the mechanism used to deliver a specific transformation. Most of the work for the Headline is done when creating your Offer. Headline Framework: WHO - WHERE - WHAT - TIME - {Optional: HOW} My headline using this framework: Making it Unreasonable for agency owners to not run A half a million $ agency in 90 days {through brand and audience growth} As you can see, I’m not using the traditional “ I help xx get xx through xx, etc” because I feel like that has gotten pretty old. If you’re becoming a marketer then you know the importance of having “New stuff”, the whole information industry is built on new shiny objects, so be creative and figure out new ways of crafting your messages. ● Now that you have the framework for the converting headline, please create yours! ● “*Making it Unreasonable for {WHO} to not achieve {WHAT} in {TIME FRAME}” After creating your headline, add it to your Facebook and make sure that it fits! If it doesn’t fit, remove whatever isn’t necessary. Lesson 7 of 56 Four Steps to Revelation The purpose of this training is to provide you with the strategies of creating services/products that WIN! The old way of building {Product development model} companies was the following: 1. Concept stage: A founder turns his passion and vision into a business plan, makes a hypothesis for the service/product needed to be built, makes a hypothesis on the customers who will buy the product and where they can be found, makes a hypothesis on how they’ll reach the customer and finally, this leads to some basic assumptions on pricing. 2. Product/service development: The founder and his team get to work, start building the product/service, start building their marketing and promotion programs, start building sales assets, start targeting first customers. 3. Alpha/Beta Test: Marketing launches a full communication plan, sales signs up the first beta customers and the organization decides to scale the sales team. 4. Launch: Product/service launches and the company goes into full crazy spending mode, building sales channels and supporting marketing. The issue with going through this process when building your business is that you forget one thing, the most important thing, which is Customer and market development. What’s wrong with the old way: ● Prioritize building your product/service instead of developing your customers and market ● Believe that customers are going to appear from nowhere and keep coming. ● Don’t notice that trial and error is going to run you out of $ and run you out of business ● Spending and hiring as if success was guaranteed, due to projections and forecasts. Most companies fail not because they lack a good product or service, they fail because they lack customers and a proven financial model! The Four steps to Revelation are meant to help you avoid any huge loss of time/money and provide you with huge probabilities of success. The main difference between the Customer development model (CDM) and the product development model (PDM) is that it doesn’t assume that everything will be as forecast, each step of the CDM is drawn as a circular track because, unlike the PDM, it understands that the process is iterative, finding the right customers and the right market won’t happen on the first attempt. The customer development model assumes that it will take several iterations of each of the four steps until you get right. The four are steps are the following: 1. Customer Discovery: the goal of this step is to find out who the customer/niche is and whether the problem you believe you are solving for them is important to them. You need to prove if your niche, problem, and offer hypothesis are correct, and the only way of doing this is to get “outside the building” in order to gather feedback from the market about your product/service & problem, and ideal customer. 1. Customer Validation: The goal of this step is to prove that you have a set of customers and a niche that reacts positively to your service/product. Validation happens when you’re able to relieve your customers of some of their money, once that’s done then you focus on building a sales roadmap, a playbook of the proven and repeatable sales process that has been field-tested by successfully selling your product/service to customers. 1. Customer creation: It’s at this step that you fire up all engines. After getting a few sales in and proving/validating your hypothesis, you’re supposed to go heavy on marketing to create demand for your service/product and drive that demand into your sales channels. 2. Company building: At this stage, you transition out of the learning and discovery phase, and start building different departments in your company. HOW TO APPLY THIS TO YOUR AGENCY/ONLINE SERVICE BUSINESS STEP 1: CUSTOMER DISCOVERY PROCESS: 1. Make a hypothesis about a problem you’re solving and about a niche. 2. Find your potential customers, interview them/ask them questions in order to find out if the problem you believe you are solving is important to them. 3. Gather the feedback from the customer and iterate your main hypotheses. STEP 2: CUSTOMER VALIDATION PROCESS: 1. Go back to some of the prospects you spoke to and new ones, invite them to a discovery call/sales call. 2. Sell 1 to 3 customers to your service, this will validate everything. ( If you can’t sell, go back to Step 1 and come up with a new hypothesis.) 3. Build out a workflow/ a repeatable sales process from the steps you took to sign up these new customers. STEP 3: CUSTOMER CREATION: 1. Launch an outbound prospecting campaign & a paid advertising campaign ( If you have the budget) 2. Hire appointment setters/virtual assistants and closers. 3. Create a seamless onboarding process in order for you to handle the volume. STEP 4: COMPANY BUILDING: 1. Build out the service delivery department ( media buyers, etc) 2. Hire someone who can take care of your accounting, bookkeeping, etc 3. Hire someone to take care of Operations 4. Promote your best sales rep to the sales manager Lesson 8 of 56 Picking the Right Game When starting a business, it is crucially important to understand that building a successful business is probably one of the hardest things to do as there is so much uncertainty, so many moving parts that are able to build a sustainable business that can last for multiple decades actually includes a bit of luck. The goal of this training is to help you increase your luck of achieving the goal of building a sustainable business or businesses. DO YOU HAVE INSIGHTS/EXPERIENCE THAT ONLY A FEW HAVE? When most people think of creating a business, they tend to think that what they need to do is to sit down and think about these two things: 1. A crazy new idea that has never existed 2. A specific market that has yet to be sold to 💩 They spend hours, days, months, years thinking about mostly those two things and never make a decision, they get stuck in Analysis Paralysis and never build My #1 advice is don’t try to sit down and spend days trying to figure out what to sell or who to sell to, instead spend 5 minutes thinking about the current knowledge that you have and your experiences. The easiest path is to sell to an industry that you’re already familiar with, an industry in which you know exactly what keeps them up at night. If you already have insights about that industry that not a lot of people have, then all you would need to do is to build a specific solution (product or service) that solves their problems. The great thing about selling to a market that you know very well is that it is pretty easy to come up with new mechanisms to solve their problems! With the internet, you can go learn more about existing products/services in other markets/ niches and simply bring back those products/services and tailor them to your niche! (That’s what I did!) If you are Elon Musk, then you probably don’t need to copy others, but if you’re not then you have more probability of winning in this game by copying what’s already working for others, but of course, make sure to improve or else you’ll go out of business really quickly. OPPORTUNITY COST Opportunity cost is the loss or the benefit that could have been enjoyed if the best alternative choice was chosen. It is really important to understand that by picking a market and a specific business model, you’re making the decision to leave out a whole of other opportunities, maybe even better opportunities. If you decide to become an agency owner, then realize that you’re temporarily saying no to opportunities like: ● Owning an eCommerce business that has insane scalability ● Real estate investing - Crazy leverage opportunities leading to having cash flow for life ● Becoming a trader, being able to make a million dollars before noon 🤑 Before you make the decision on what business you’re going to focus on, make sure you look at your skillset and pick the best opportunity for you. Never settle for the opportunity that you’ve been sold to the most and by that I mean don’t follow the flashiest person on the internet, the person who has served you so many impressions that you think they’re your friend. MAKE A SMART DECISION: ● Look at alternatives ● Look at the price you’ll have to pay starting business 1 VS business 2 ● Look at the ease to achieve results and the predictability of achieving the results consistently. Let’s take a look at a few things that you need to consider when making your decision below. PRICE OF ENTRY 1. How hard is it to learn how to deliver the transformation? Many people don’t take this into consideration but if you’re going to start a business, you need to realize that it’s a never-ending process of learning, unlearning, and iterating. If you’re picking the market/niche that you want to sell to, please don’t pick a niche that you don’t know anything about or a market where you would need to spend a whole year trying to get feedback. I suggested picking an industry that you’re familiar with, but sometimes people literally don’t have any knowledge or experience with any niche, so this is where it becomes important to pick a niche which you can get information about pretty quickly, and when picking your solution (product or service) don’t pick a service that will take you 5 years to learn or a whole 5 months to find someone that you can outsource it to! 2. How much money do you need to invest before you can make a $ back? The faster it is to make a sale, the better! You shouldn’t try to build a business that requires you to invest thousands of dollars if you’re just starting out. The easiest businesses to start nowadays are service businesses, you can start one even before you finish the training and find someone with a specific skill set that you can sell to the market. HOW ACCESSIBLE IS YOUR MARKET I personally consider this to be one of the most important criteria of a Good business and when I’m deciding or thinking about what new businesses that I can start, I always focus on this one first! If your market isn’t congregated on a specific channel ( phone #, Facebook or Facebook groups, Instagram, LinkedIn) it will be hard for you to sell your product or service as you’ll have a hard time finding your ideal customer. On the other hand, if your market is gathered on the same platform, in a few Facebook groups, per example then you literally have no reason to be broke. Any niche/market has problems, so your focus shouldn’t be on finding the best niche but finding the niche’s problems that are the most accessible! I’ve built my first business and scaled it to multiple five figures due to having a really easy time finding the people who want my services and of course because I solve a really painful problem. HOW IMPORTANT IS YOUR PRODUCT & HOW PAINFUL IS THE PROBLEM: Is your solution a nice to have or a MUST HAVE? Please do me a favor and avoid selling anything that isn’t a must-have for the niche! Avoid selling products or services that businesses or your market can live and thrive without! The only time I’d suggest focusing on a nice to have offer is if you already have amazing results and great social proof and you can clearly and predictably deliver the same results! In order to find the “I need this or I can’t achieve my goals” offer is to figure out a painful problem that your niche is having. You’ll most likely have many different problems that a specific niche will be facing, so then your focus should be on figuring out the solution to a problem that will result in the biggest outcome, you need to deliver asymmetrical results. HOW IS COMPETITION: If you have every person that you know selling the same thing that you want to sell, please don’t! I think this is pretty simple to understand so I won’t spend much time on it but I want to add the fact that the more competitive a certain industry is, the easier it is to get results actually, so you don’t want to pick a niche that no one is in because you’ll have a hard time educating the whole market on why your service or product is needed. 🦈 If you’re just starting out, I recommend you just start, don’t lose time trying to find the blue ocean, swim in that red ocean, and become a li'l shark DO THEY HAVE THE CAPITAL TO AFFORD YOUR SOLUTION? This isn’t as easy as it seems because literally, most people over 18 can come up with the money to pay for things that they care about, things that they want, so you shouldn’t only want to sell to people who are full of $. That being said, do your best to sell to people with money, you will have less resistance and will have way more fun helping them solve their problems and they will be more grateful for your help. The metric to focus on when trying to find out if a niche can afford your solution is how much revenue they’re making and how much your solution can bring in! Even if your service or product doesn't directly increase their revenue, you need to figure out a way to quantify your outcome. WHAT DO YOU HAVE TO BUILD IN ORDER TO DELIVER THE TRANSFORMATION Will you need to build a large team to deliver your product or service? Will you need to build really complex processes before you can deliver the transformation desired by your customers? Unless you’re Elon Musk or have a few thousand, hundred thousands of dollars to invest in building really complex services or products, I recommend that you focus on building something really simple and sell the heck out of it. Some people think that having something special, something that the world has never seen is how you become rich but that’s not true. SIMPLE scales, when you try to build something hard to repeat and hard to deliver, you end up affecting the luck that comes with moving with speed. THE PERFECT BUSINESS 1. HIGH MARGINS 2. HABIT-FORMING 3. GREAT OFFER/MESSAGE {something others can’t simply copy} 4. LONG TERM FOCUS