Supernova Kickstart Guide

Module 1 - Week 1

Transcript

1. SUPERNOVA Kickstart Guide A Step by Step Guide to Creating a Successful + Irresistible Business You'll Love by Like a Celebrity, LLC
2. Copyright © 2014 by Like a Celebrity, LLC. All rights reserved. No part of this publication may be reproduced or distributed in any form or by any means. Duplicating, sharing, or uploading product files to sharing sites is considered stealing, and we will prosecute thieves to the full extent of the law. Be honest. Don't steal our stuff. Supernova "Step Into The Spotlight" Business Bootcamp The Supernova Kickstart Guide is protected by copyright, trademark, and other intellectual property laws. The Guide is provided solely for your personal, noncommercial use. You may not use the Guide or the materials available in the Guide in a manner that constitutes an infringement of our rights or that has not been authorized by us. More specifically, unless explicitly authorized in these Terms of Service or by the owner of the materials, you may not modify, copy, reproduce, republish, upload, post, transmit, translate, sell, create derivative works, exploit, or distribute in any manner or medium (including by email or other electronic means) any material from the Guide.
3. Please note that much of this publication is based on personal experience and anecdotal evidence. Although the author (Latisha Kenya Murray + Like a Celebrity, LLC) made every reasonable attempt to achieve complete accuracy of the content in this Guide, they assume no responsibility for errors or omissions. Also, you should use this information as you see fit, and at your own risk. Your particular situation may not be exactly suited to the examples illustrated here; in fact, it’s likely that they won’t be the same, and you should adjust your use of the information and recommendations accordingly. Any trademarks, service marks, product names or named features are assumed to be the property of their respective owners, and are used only for reference. There is no implied endorsement if we use one of these terms. Finally, use your head. Nothing in this Guide is intended to replace common sense, legal, medical or other professional advice, and is meant to inform, inspire and entertain the reader. Have fun with The Supernova Kickstart Guide, you will be amazed at what you're capable of!
4. Contents 1 - What's Been Discouraging You From Starting Your Business + How The Supernova Kickstart Guide Will Help Get You There 2 - So Many Ideas, So Many Reasons 3 - What Kind of Business is Right For You 4 - How to Generate + Outline Business Ideas 5 - What to Do When You Suffer From Idea Overwhelm 6 - Which Ideas Will Roll In The Dough? 7 - Planting Seeds to Grow Your Business + Your Supernova Kickstart Manifesto 4
5. What's Been Holding You Back From Starting Your Business? How The Supernova Kickstart Guide Will Get You Started 5
6. You want the freedom and bliss that comes from using your gifts to do what you were meant to do in the world, while rolling in the dough. If you could only get over that one, itty bitty problem ... you don't know which business to start. Nothing is more agonizing than knowing you are meant to do something bigger than what you're already doing in this world, but not being able to move ahead because you're stuck and unclear. Over the years, I've met countless people wrestling with this issue. I'VE EVEN STRUGGLED WITH IT! Being unclear about which business is best to start for you, can create buckets of doubt, fear, misery, not to mention, an incredible amount of wasted time + resources. The Supernova Kickstart Guide will help ANYONE find their own clarity and finally start the perfect business for them. A profitable and blissful business they love. 6 Here's what you know RIGHT NOW...
7. Most aspiring (but stuck) entrepreneurs, struggle with one of three core blocks. You want your own business but don't know how to come up with good ideas. YOU LACK IDEAS 1 You're passionate about lots of things + are afraid to choose just one. What if it's the wrong one? TOO MANY IDEAS 2 You know what you want to do but haven't started yet. You want to make sure your idea is strong before you invest your time and money in it. WILL MY IDEA WORK? 3 If you're struggling with any of these blocks, this could be the most life changing program you've ever experienced. I’m going to show you a road map to start the right business for you, systematically + intelligently, so that you can FINALLY do what you're meant to do in this world, make the difference you want to make, and get paid for it. Now before we go further, let me be clear. This is NOT some “get rich quick” course. Nor is what I'm going to suggest necessarily easy. You're about to start a REAL + SUSTAINABLE business. One that you can be proud of + that provides financial security and happiness for you + those you love. 7
8. Get ready to work harder + longer than you've ever worked before. Because starting + growing a business requires a significant amount of hustle over a sustained period of time. And ready for the best part? No matter how smart, passionate or prepared you are, there are no guarantees that it will work. I'm not saying this to discourage you AT ALL, I'm saying this to wake you up and empower you. Because here’s the real deal: If you want a guarantee in business, you really don't want a business. You could study the top 100 business books ever written, consult with the brightest business minds on the planet, work with your astrologer, your psychic and a buddhist healer + you still won't know for sure what’s going to work for you, until you get out there and do it. I hope you appreciate my bluntness here because, in order to help you start the right business for you, I need you to be aware of the realities of business with eyes wide open. And while there are no guarantees that yours or anyone’s business will work, there are proven ways to test your ideas and take smart, intelligent steps to build momentum (and profit) over time. And that’s exactly what this kickstart guide will help you do. As you build up small wins and confidence, you'll be well on your way towards creating a profitable business you love. 8
9. In this kickstart guide, we'll explore what you need to know, what you need to understand and what you need to do in order to start the right business for you. I’m going to walk you through what you need to know, what you need to understand and what you need to do in order to start the right business for you. First we'll talk about starting the right business for you, for the RIGHT reasons. This is all about understanding your motivations and making sure you're clear on why you're starting a business in the first place. Once you know your motivations for starting a business, you'll need to choose the right kind of business for you. Do you envision creating a Fortune 500 company? A small business with a handful of employees? Or a micro-business where you're basically running everything yourself with a part-time virtual assistant when you need help? There’s no right or wrong answer, but it is very important that you decide what you want in advance. We’ll also talk about your business model. Do you want a product based business, like selling T- Shirts? Or a service based business like being a web designer? Once we get clear on your business model, we'll focus on the 3 core blocks that may be holding you back from starting the right business for you : a lack of ideas, too many ideas, or an unproven idea. 9 What You Will Gain From This
10. We will NOT talk about how to secure VC funding, bank loans or investment capital. We’re also not covering anything dealing with attorneys, writing business plans, financial forecasting, choosing legal business structures, insurance, business licenses or anything granular relating to taxes or liability. For all legal and tax advice, please consult your attorney and your accountant. If you do not have one, Like a Celebrity, LLC is happy to help you identify one. The only outcome we will focus on in this kickstart + virtual bootcamp is getting you clear so you can start the right business for you. 10 What You Won't Gain From This
11. So Many Ideas, So Many Reasons "You can only become truly accomplished at something you love. Don't make money your goal. Instead, pursue the things you love doing and do them so well that people can't take their eyes off you." - Maya Angelou 11
12. What if I told you the secret to being uber successful in business was: never go into business to make money. At first glance, never go into business to make money sounds like it could be the worst business advice ever, right? No no no no nooooooo! Never, ever go into any business just to “make money.” If you’re not so ridiculously passionate about your product or service that you could work on it until your eyeballs fall out, you won't have the energy or persistence needed to make it a profitable success. When you go into business for the wrong reasons (i.e. just to “make money”) you'll find yourself burned out, frustrated and waste years of time and energy with little to no financial success to show for your efforts. You won't have the sustained creativity or passion to become the superstar you're meant to be. Don't get me wrong. We love money, security + freedom running our own business brings, but money is not always the primary motivator. That’s why it’s uber important to make sure you start the right business for the RIGHT reasons. When you're in business for the RIGHT reasons (i.e. you love what you're doing and you're committed to making a positive difference for others) building your business becomes intoxicatingly fun, spiritually fulfilling and financially profitable. 12
13. Two fantastically awesome reasons to start a business. While people start businesses for a zillion different reasons, the most successful usually fall into one of two categories and yes, these often overlap. YOU SEE AN UNMET NEED IN THE MARKET 1 Sarah Blakely, founder of Spanx™ and the youngest self-made female billionaire in the world, invented footless, body shaping pantyhose because she was frustrated with having nothing to wear under a pair of tight, cream pants. This former comedian and fax machine sales gal started her business on the side while she was still working a 9-5 job. She hustled to build it on nights and weekends for over 2 years before she felt confident enough to quit her job and work on Spanx™ full time. Sarah is just one of millions of people who started successful businesses based on seeing an unmet need in the market. Many businesses are born out of a desire to solve a personal problem or handle an unmet need in the marketplace. These kind of businesses give you that head smacking “why didn’t I think of that?!” kind of feeling. 13
14. YOU HAVE A DESIRE TO CREATE + MAKE A DIFFERENCE 2 Other businesses are born from a desire to create and make a difference in the world. This kind of business is often inspired by a having a unique talent or gift, experiencing a personal turning point, overcoming an obstacle or some other inspired vision for how the world can be a better place. Regena Thomashauer, aka “Mama Gena,” runs her multimillion dollar business, The School Of Womanly Arts, which focuses exclusively on teaching women the art and discipline of pleasure. After an early career as an actress, Regena began feeling disconnected from herself and from her identity as a woman. She tried the traditional routes like working with therapists + psychoanalysts, but didn't see results. She continued searching and discovered the little known discipline of pleasure. She began to research and test this new discipline and the results were off the charts! Regena knew that pleasure was the missing link in our education as women. Her classes began very small, and over the years she’s developed a cult-like following and a full-blown curriculum that impacts thousands of women’s lives around the world. Regena, like so many others, began her businesses from a space of personal discovery and a deep desire to make an impact in the world. 14
15. Sarah and Regena, two very successful business owners, didn’t start their businesses with an eye exclusively on the money. Of course, the whole point of running a business IS to make money, but 99% of us need ANOTHER, more SOULFUL REASON to stay engaged and motivated over the long term. So yes, money is awesome and must be part of your motivational mix, but not your sole reason to start a business. TAKE ACTION - Exercise #1 Write down at least 5 reasons why you want to start a business. This is about being brutally honest with yourself and getting real about the true motivations behind your desire to launch. Your reasons can range from personal to global. Maybe your business idea will allow you to be location independent, or you want to revolutionize an industry you've always dreamed of working in, or you know that your purpose is to make a difference in the lives of women around the world, or you want to wipe out the epidemic of childhood obesity. It is extremely helpful, especially if you're considering several business ideas, to understand how each idea ranks in terms of your own passion and commitment to make this business a reality. Once again, we love money and it must be a factor in this equation, but not the only reason. 15
16. BUSINESS IDEA 1 + 5 Reasons Why I Want to Start It BUSINESS IDEA 2 + 5 Reasons Why I Want to Start It BUSINESS IDEA 3 + 5 Reasons Why I Want to Start It BUSINESS IDEA 4 + 5 Reasons Why I Want to Start It BUSINESS IDEA 5 + 5 Reasons Why I Want to Start It 16
17. What Kind of Business Is Right For You? "Destiny is not a matter of chance, it is not a thing to be waited for, it is a thing to be achieved." - Wm. Jennings Bryan 17
18. Now that you're clear on the right reasons to start your business, you've got to get clear on what kind of business is right for you. The first step is to analyze your ambition because in business, size does matter. Here’s what I mean. These days, businesses come in all shapes, sizes and structures. For simplification purposes, let’s think about three main categories: • A BAB (a.k.a Big Ass Business) = Amazon, Apple or Whole Foods. • A Small Business = Usually defined by having less than 100 employees and less than $50 million in revenue. • A Micro Business = When I think of a micro business, I often think of a one man/woman show or freelancer with an assistant, though many define it as having five employees or less. The point here is not to get caught up in the semantics or the details of definitions, but to consciously choose the size and scope of your venture. There’s no right answer here. Starting the right business for you is about being 100% honest with yourself about how big you want your business to be, how much you'd like to earn and how much time, effort and daily responsibility you want to have. 18
19. Think about it. For some aspiring entrepreneurs, the thought of having a business with 100 or more employees sounds like a death sentence. For others, it may sound like entrepreneurial nirvana. The beauty of modern entrepreneurship is that YOU get to choose the size of the enterprise you’d like to build. While you don’t have to set your ambitions in stone, you’re obviously going to play a much different game if you plan to be the next Google vs. if you want to run a six figure coaching business from your laptop while spending a few weeks a year sipping margaritas on the beach. For example, Amanda Steinberg founded DailyWorth.com, a daily email newsletter with personal finance advice for women, she began studying everything she could about the “daily email” business model. That research informed Amanda that running a daily email business was no small venture and she was about to work harder than she’s ever worked before. She learned that in order to run that kind of business, she’d need to hire a team of editors, programmers and advertising sales reps. She’d likely need a brick and mortar office in New York City and would eventually need outside investment funding to scale her growth. She fully understood the size and scope of the business she wanted to start and then intelligently and methodically went about building it. By way of contrast one of my Like a Celebrity virtual assistants, Jenny, runs a profitable consulting business from her laptop in Houston. Jenny offers virtual assistant services to several companies, including Like a Celebrity, offers one-on-one consulting, and downloadable self-study products. She has no employees, has a waitlist for clients and has no desire at this point to greatly expand her business. She’s working about 20 hours a week, earning more money than ever, and has time to volunteer, run marathons, and enjoy her husband, her dog and her decidedly active lifestyle. 19
20. Take Action - Exercise #2 WHAT SIZE BUSINESS DO YOU WANT? Again, there are no right or wrong answers here, but it is important you tune into your own ambitions and make a choice. Answer the following questions and use your gut instinct, not your ego, to answer. 1. When I envision my dream business, I envision a _______ business (big, small, micro). 2. My desire is to have ______ number of employees. 3. I run my business from my __________ (home office, office building, my laptop). 4. My goal is to _____________ (sell my business and exit the company or run my business through the foreseeable future). Obviously, there are a million other questions I could ask you about the size and scope of the business you want to start, but I won’t. You're intelligent enough to ask yourself these questions and get clear on exactly how big your dream business is. 20 Amanda + Jenny are running two very different businesses, but both women are profitable and happy because they've identified and stayed true to the size of business that matches their own desires.
21. A VERY IMPORTANT NOTE: Do not move ahead in this kickstart guide until you've made a clear choice on the size and scope of the business you want to start. The inability to make a choice and move ahead is what keeps you stuck in “I don't know what business” to start land. Even if you make a choice, move ahead, and then change course later, you'll still be way ahead of the masses of would-be business owners who are stuck in their heads. The worst thing you can do here is “keep your options open” and endlessly talk to yourself about “all the possibilities you have” yet never take any action, get out there, and get in the game. So make your choice now and let’s move onto business models. 21
22. Now that you know the general size and scope of your desired business, the next piece of the puzzle is getting clear on your business model. On the most basic level, your business model is how your business makes money. What exactly are people paying you for? The business model conversation can drill down into some pretty mind boggling complexities, but for now, let’s keep things simple so you can get clear and move ahead. Most businesses sell either a product, or a service, or a combination of both. For example, graphic design, coaching, consulting or being a personal stylist are all a service based business model. You deliver a service and your client pays you. Simple and straightforward. Conversely, if you sell jewelry, handbags, clothing, computers, baby products, or candles, you’ve got a product based business model. You deliver a physical product and your customer pays you. Again, simple and straightforward. If you want to make money as an expert, teacher or coach, then you’ll have an information product based business model. You’ll build a brand and deliver ideas and advice packaged into both products and services like seminars, books, online digital programs, retreats and one-on-one coaching. Or, our friend Amanda Steinberg from DailyWorth.com. She’s got a “daily email” business model where her readers get FREE content, but she makes money by selling advertising to companies who want to get in front of her readers. Business Models 101 22
23. Here is a short list of simple & profitable business models that work to get your entrepreneurial wheels turning: PERSONAL SERVICES dog walking house keeping health coach web designer bookkeeping PRODUCTS jewelry accessories lingerie cupcakes fine art INFORMATION PRODUCTS Tony Robbins Supernova Bootcamp Conferences SUBSCRIPTION / MEMBERSHIP Proactive Netflix Planet Fitness Wine of the Month RESELLER network marketing affiliate marketing Ebay The point here is that in order to start the right business, you must choose a clear and proven business model. Pay special attention to that word, proven. My point here is I don’t want to see you make the same mistake that many newbies make. They take the first half-baked business idea they have and run with it. They start a Twitter account, a Facebook page and spend a few hundred dollars on business cards. They desperately look for customers everywhere with no sense of direction and no profit making roadmap to follow. After a few months, they either give up completely or chase the next shiny object that promises to help them “make money while they sleep.” But not you. You’re smarter than that because here’s what you will do. 23
24. You'll study your ass off and learn everything you can about your chosen industry and business model before you start! You’ll Google the shizzle out of it. You'll read every book or article you can about that kind of business, that industry and the people who've done it successfully. You'll tap your network and ask everyone you know for resources, connections and information about what it takes to succeed with that business model. You’ll get connected to people who are doing it, and succeeding, now. You literally become an expert in your chosen business model so that you can refine and validate your ideas before you invest more time and money. This is the challenging and time consuming work that most aspiring entrepreneurs are unwilling to do. Let me be frank. If you're not willing to do this level of research into your soon-to-be-business, the thing that could potentially be your LIFE’S work and create financial freedom for you and those you love, you shouldn't be starting a business. I firmly believe you can figure out anything you want to in the world, if you keep asking the right questions and stay focused and determined on finding an answer. Don't get all up in arms if you can't choose a business model because you're not sure what idea you want to move ahead with yet. You can, and should, come back to this section once you've gone through the rest of the program. The reason I put this section here is because it’s vital that you start thinking about the framework of business models - i.e. how your business will make money - before you get too deep into idea generation, refinement and testing. The reason is that you may be able to eliminate some ideas off the bat if you can't fit them into a clear and proven business model! 24 Pssst: Don't Panic if You Don't Have a Business Idea Yet
25. Take Action - Exercise #3 Answer the following questions as thoroughly as you can. If you need to do research in order to answers these questions, then do the research and fill in the questions. 1. My chosen business model is: 2. Who is already crushing it in my chosen industry with my chosen business model? Who are five people who are successfully using this business model right now? 3. How did they build what they’ve built? What steps did they take? (hint: look for articles and interviews online, Google them, connect with them!) 4. What are the pitfalls to look out for? 5. What kind of capital, if any, does it take to start this kind of business? 6. Based on my research, what kind of skills does it take to hit it out of the park with this business model? 25
26. How to Generate + Outline Ideas For Your Business "First comes thought; then organization of that that thought, into ideas and plans; then transformation of those plans into reality. The beginning, as you will observe is in your imagination." - Napoleon Hill 26
27. If your sticking point has been a lack of good ideas, get ready to exercise your creativity + imagination. I’m going to walk you through a two step process to generate business ideas, and then organize them neatly into what I call the "clarity matrix". TAKE ACTION - EXERCISE #4 STEP 1 - BUSINESS IDEA BRAINSTORM SESSION Open up a new document or page in your journal and name it Business Idea Brainstorm. There is no room for judgement or self-editing here. The goal is just massive idea generation. When you’re brainstorming business possibilities, there is no such thing as a bad or stupid idea so turn your inner critic off. Don't worry if someone else has done it already or wonder whether or not the idea can actually make money. The goal is simply to come up with at least 25 ideas for a business. If your imagination is bone dry, cruise around on Inc.com, Entrepreneur Magazine and Fast Company. There are tons of business profiles on each of these sites that will help you come up with ideas. If you have an interest in a particular field like pet care or yoga, Google those topics and find some online blogs or magazines about that topic area. You’ll find profiles of businesses or advertisements by other business owners who operate in that space to inspire your brainstorming session. 27
28. 1. Pray for insight. Whether you pray to God, The Universe, Source or a general HP (Higher Power), tell the truth about feeling creatively stuck, ask for help and be willing and open to receive guidance. That guidance may come in the form of a magazine article, an email from a friend, a book falling off the shelf or an invitation to a dinner party. I believe in a responsive and co-creative life force that is always on our side, should we have the courage to ask. 2. Creativity lives in your body, not your mind. Some of my best and most inspired ideas have come during a long walk, crazy dancing to music, or simply sweating it during a workout video. Our bodies are designed to move and research proves that our brains function better after exercise. It doesn't matter what form of exercise you enjoy, just get out there and move your body, sweat your ass off, listen to great music and get ready to download some incredible, creative business ideas :) DO THIS: Create a 45 minute playlist of songs that inspire you, energize you, enliven you and make you want to conquer the world. You’ll need about 12 songs. Choose a form of fitness (dance, running, rebounding, cycling, yoga, hiking, strength training, etc.) and work out for at least 45 minutes straight with your tunes cranking. Don’t try to “force” ideas to come. Just stay open to the creative downloads that will automatically arrive. Repeat daily if possible. 28 Whenever I feel creatively barren, there are 2 things I do that work like magic.
29. Brainstorm Session Exercise Use the following prompting questions to get your imagination firing. Don’t think too hard, just write down your first responses. 1. What websites do you visit often? 2. What books do you read? 3. If you could start a business doing anything in the world, what would it be? 4. If you could get paid to do or make something for others what would it be? 5. What skills do you have that could be translated into services? 6. What do people thank you for doing for them? 7. What tools or online applications do you know how to use better than anyone else? 8. What do you do in your free time? 9. If money were no object, what would you do with your life? 10. What do people always seem to ask you to help them with? 29
30. Take Action - Exercise #5 STEP 2 - THE CLEAR IDEA MATRIX Once you have at least 25 business ideas from your brainstorm session, it’s time to review + organize. Take a look at your list and organize your ideas by making sure they all have an industry, a proven business model and a target audience. Put as many of your ideas into the Clear Idea Matrix as possible. Use the example below as a guide. If an idea can’t be neatly organized into the Clear Idea Matrix, it doesn’t make the cut. PROVEN BIZ MODEL INDUSTRY TARGET AUDIENCE Pet Care Yoga Niche Food Expert/Author Dog Walking Yoga Teacher Selling Cupcakes Information Products Pet Owners Spirituality/Healthy Gluten Free Crowd Parents 30
31. 31 INDUSTRY PROVEN BIZ MODEL TARGET AUDIENCE Once you have all of your ideas neatly organized into the Clear Idea Matrix, you’re ready to start testing your ideas and I’ll show you how to do this step by step, in a future chapter. CLEAR IDEA MATRIX
32. What to do When You Suffer From Idea Overwhelm "What's important is finding out what works for you." - Henry Moore 32
33. Before we dive into this topic, I want to let you know that I understand how you feel. As a multi passionate entrepreneur myself, I get how confusing and frustrating it can be to want to do a lot of different things in life and not want to “choose one” thing and forget about the others. It’s torturesome to imagine you’re “picking the wrong one” and, each time you try to narrow in on one passion, you feel like you’re making the biggest mistake in the world. The good news here is that there is a methodical way to find clarity and focus without necessarily feeling like you’re leaving the rest of your passions behind. As I walk you through the steps to find your clarity, I’ll tell you how key shifts in my thinking, along with conscious choice, allowed me to fully embrace my multi passionate nature and strategically decide what passions would get the majority of my time and attention. 33 Ooh!
34. Take Action - Exercise #6 Make a list of all the passions you're currently considering turning into a business. Get all of your ideas out of your head and onto paper so we can intelligently and strategically work through them. 34 INDUSTRY/PASSION PRODUCT/SERVICE BUSINESS IDEA INDUSTRY/PASSION INDUSTRY/PASSION PRODUCT/SERVICE BUSINESS IDEA PRODUCT/SERVICE BUSINESS IDEA
35. Reality Check #1- Don't Monetize All Your Passions Now that you've got a list of the passions you're considering turning into a business, it’s time for your first multi passionate reality check: don't monetize all your passions! Just because you’re passionate about something, it doesn't mean you should, or even could, start a business around it. First and most obviously, some of your passions may not make good business sense. Sometimes, you just need to express and experience your passions on a regular basis in order to get the creative juice and satisfaction from them that you desire. In fact, the expression and experience of those passions can often inspire breakthroughs in your business and give you the fuel and inspiration to keep going! For example, I have a good friend who is a genius at systems, training and managing virtual teams. She’s also super passionate about fitness and working out. Many of her friends often say, “You love fitness so much, why don’t you do it full time?” Here’s her reply: “That’s exactly why I don't want to do it full time! I love taking classes and having fun without any pressure to teach or get into the fitness industry. Plus, I love what I do during the day and can make waaaay more money, have a better lifestyle and impact more people doing what I already do. I've got over 15 years of experience in my field and I'm really good at it. Fitness is an important part of my life and I love it, but I don’t want to do it for a living.” Smart Lady. 35
36. TAKE ACTION EXERCISE #7 Go back up to your list and cross off anything that is just not practical to start a business around (like riding roller coasters) or anything that you truly don't want to make a living doing. This requires you to get real honest with yourself and use your gut instincts too. Remember that enjoying your passions on a regular basis may be enough to satiate your desire vs. starting an entire business about it. 36 Reality Check #2 - Lean Out 10 Years When you have several viable passions that could be your business, it’s time to ask yourself one of the most powerful questions you could ever ask. This one question is what helped me decide that I wanted to take my passion and give it a go as a business and career. TAKE ACTION EXERCISE #8 Go through each of your passions and ask yourself this. “In ten years from now will I regret NOT having pursued this passion as a business?” No one can tell you the answer to this except for you. Go back up to your list and cross off any passion that you know is not important enough to devote the majority of your time, energy and life to for the foreseeable future.
37. 3 Reality Check #3 - Know Your Ultimate Life Goals When you’re trying to choose between a few passions, it’s uber helpful to know what your ultimate, long-term goals are (financial and desired lifestyle) and have a good, honest talk with yourself about what it will take to get there. The beautiful thing about being multipassionate is that you can take all of your skills, talents and experiences and leverage them into a truly unique and one-of-a-kind brand presence. I've taken everything I've ever done and leveraged it into my current business as a speaker, coach and lifestyle entrepreneur. "My ultimate life goals include unlimited income potential, to positively impact millions of lives and to be location independent" Here’s another example about how powerful it is to get real with yourself and lean out into the future to see where you're heading. A talented DJ/Fashion Stylist/Yoga Teacher I know recently came to me confused about all her passions and feeling torn about which she should focus on. After our talk, she realized that while she loves to DJ, in order to crush it in that industry, she’d need to fly around the world, be in nightclubs until all hours of the night and spend a lot of time around people who drink and do drugs. While she loves music and spinning at parties, the moment she got honest with herself about what it would take to be the best in the world in that industry, she realized that it’s not ultimately how she wants to spend her life.
38. She can still DJ for fun, but she just freed up a lot of her mindshare. She also took a look at what being a full time yoga teacher would look like and realized that while she loves yoga, she does not want to teach full time. As she began to get honest with herself, she realized the one passion she could talk about day and night was the one passion she would do anything for - that was fashion and styling. Can you see how doing some methodical and honest thinking through your passions can help you see which is most aligned with your larger life goals? 38 Take Action - Exercise #8 What are your ultimate life goals in terms of lifestyle, income and impact? It’s important that you look at the realities of the industry you’re going into. What are the limitations, if any? What are the possibilities? Are you willing to do what it takes to be the best in that industry? Go back to your list and cross off any passion that conflicts with your true desires and ultimate goals in life. Hmmm...
39. 39 Reality Check #4 - Clarity Comes From Engagement, Not Thought The only way to truly figure out which passion you want to start a business around is to get out there and test it. What does that mean? It means go do the thing you're thinking about. That type of clarity can’t be figured out in your head, talking to friends, or from any amount of list making, pro and con lists or any other intellectual exercise. You’ve got to get out there and engage. You’ll get signals that either say “Hell yes, I LOVE this and want to keep going...” or you’ll get signals that say, “This is awesome as a hobby, but I really can’t see myself doing this as my livelihood for 16 hours a day for the rest of my life.” - Take a class in that field. - Go to a conference or seminar for that industry. - Find someone who’s already successful doing what you want to do and take them out to lunch to learn about the opportunities, lifestyle implications and financial limitations, if any, of that industry. You’ll get signals that either say “Hell yes, I LOVE this and want to keep going...” or you’ll get signals that say, “This is awesome as a hobby, but I really can’t see myself doing this as my livelihood for 16 hours a day for the rest of my life.”
40. Take Action - Exercise #9 40 Go back to your list and cross off anything you're not willing to test through engagement. If you're not willing to go take a class or talk with anyone who’s successful in that industry, you should probably reconsider. For anything that you are willing to test, use the world’s best free research assistant, GOOGLE, to find a way to get engaged and test it. Before we wrap up this discussion, I want to make one point ultra clear. There is no absolute “right answer” about whether or not you should pursue one passion or many. You must choose for yourself, find out what works for you and take full responsibility for your choice. Given that, there is one point about focus that I want to make sure you know. If you really want to lead an industry, at some point you’ll need to focus your time and energy towards a primary goal. I needed that period of my life where I juggled a lot of things at once. It was my personal truth and choice. But there also came a point, as I shared, where I realized that if I really wanted to make a major dent in the universe through my business, I needed to focus and devote the majority of my time and energy in one core area.
41. Here’s the thing. Just because your business is focused on one thing, it does not mean you give up your other passions. You can still have them active in your life in many forms. In fact, many of your passions may come along and be fused into your business. Your multiple passions can give your core brand a creative and unique edge. Like a Celebrity is a full service concierge agency designed specifically for entrepreneurs and moonlighting 9-5'ers who are serious about taking their business to the next level. In addition to virtual support, we also offer website development, marketing, and business development coaching. I've been able to infuse all of my passions into my business and it makes sense, because they all relate to the entrepreneur journey, and gives me a unique edge in the industry. But remember this, if you choose to move ahead with multiple streams of income from different passions and industries all at the same time, at some point it may become difficult to manage it all when they all start to “take off.” There are only 24 hours in a day and when you're first starting out, the more focus you can devote to one thing, the faster you'll see results, and the faster you can build off of that one success and branch out to others. 41
42. Take Action - Exercise #10 After all of these multipassionate reality checks and insights, you should have more clarity on how to move ahead. Take your whittled down multipassionate list from above and transfer all of your ideas to the Clarity Matrix explained at the end of chapter four. Once you have your passions and ideas organized into the Clarity Matrix, your next step will be to start testing your ideas and start generating revenue. 42 INDUSTRY PROVEN BIZ MODEL TARGET AUDIENCE
43. Which Ideas Will Roll In the Dough? "Genius is the ability to put into effect what is on your mind." - F. Scott Fitzgerald 43
44. Now that you have a list of organized ideas in your Clear Idea Matrix, it’s time to find out which idea will actually make money. After all, you might think you've stumbled upon your million dollar idea, but how can you be sure it will work? This next step is crucial to starting the right business for you. Otherwise, you'll wind up like so many struggling newbies who are haphazardly trying different marketing strategies to “make it work” but wind up broke and frustrated because they can’t figure out why they’re not making money. Unfortunately, the harsh truth is this: their business idea may not have been viable in the first place. Many aspiring entrepreneurs fall so in love with their “idea” that they speed off and try to start a business without doing comprehensive research and testing with a target market or within their industry. And unfortunately, without this research or testing, the results can be depressing. They make the mistake of focusing all their time and resources on unimportant details like “which business structure to choose - a sole proprietorship or an LLC?” or how much they should spend on “designing their logo” or “getting a website” before knowing if their idea will even make money! What’s even worse is that most aspiring entrepreneurs come up with all kinds of business ideas in their heads without ever connecting to industry experts who've been there, done that and could greatly shorten their learning curve. 44
45. And if they do have the courage to speak about their ideas, they only talk with well meaning friends who have zero business or industry experience and reply by saying, “Umm, sure, that sounds like a great idea - you should go for it!” While it’s sweet and encouraging, that kind of general feedback is not going to put money in your bank account. 45 The good news here is that you’re not going to make these mistakes. You’re going to intelligently and methodically evaluate each idea, do your homework by connecting with industry experts and potential customers, and test your ideas before moving ahead. The first step in this process is called the Common Sense Test. This test allows you to quickly evaluate your ideas, from the inside out, and eliminate any ideas that won't work so you can focus your time and energy on those that will. You’ll run each of your ideas through a series of four questions. You’re looking for a yes to all four questions. If you don’t have a yes to all four questions, the idea gets crossed off your list. Remember, our goal here is to get you clear on one idea and help you start the right business for you! A business that will be both profitable and an ideal fit for your strengths and lifestyle goals.
46. Let’s walk through each question in our Common Sense Test in detail. Question 1. Do I have the knowledge, skills or abilities to provide this product or service, or am I willing to train to get them? For example, if you want to start a personal training business but you know nada about helping people get into shape, then then you either need to get trained and educated or move on to another business idea. You need to have, or be willing to develop, a certain level of competence in order to start a business in any category. If you get a “no” when you ask yourself this question, cross off that idea. 46 Question 2. Am I willing and able to focus the majority of my time and life energy on this for at least the next 24 months? This question speaks to your passion and commitment. First let’s tackle the “willing” part. Do you want to focus your time and energy on this idea? Is it something you can really get behind? Remember, starting a business just to “make money” rarely works. If you’re not willing to go after this like a dog with a bone, cross the idea off your list. When I say the “majority of your time and life energy” what I mean is your free time. It doesn’t matter whether you have a full time job right now or not.
47. If you're not willing to stop watching endless hours of Bravo or quit tooling away your time on social media, you won’t make time to succeed in your new business. You need to live, breathe, and eat your business for at least the next 24 months in order to get it off the ground. If you have a full time job, or you have several bridge jobs, then you need to spend early mornings, evenings and weekends working on your new business. If you're not willing to devote that kind of consistent time, focus and energy to your business idea, eliminate it. Question 3. Is this idea aligned with my goal of having a micro, small, or big ass business? In chapter two we discussed how starting the right kind of business for you involved getting real about your desired lifestyle and income. For example, if one of your business ideas is to open a local bakery but your desired lifestyle is to be location independent, then your business idea doesn’t align with the lifestyle goal. This idea should be crossed off. If you dream of starting a company and selling it for a billion dollars yet you only want to work four days a week and never hire any staff, then your business idea doesn’t line up with your desired lifestyle reality. Cross that idea off too. Really think through the kind of life you want. You must make sure that your business idea is aligned with the size and scope of your dream business. If not, eliminate it. 47
48. 48 Question 4. Is there a clearly defined, hungry market of people already spending money on this kind of product or service? This is the biggest and most important piece of the puzzle. Every business needs a clearly defined, hungry market of people to sell things to. You want to enter a market ripe with people who are already spending money on the kind of product or service you want to offer. Here is an extreme example, but it makes my point. Let’s say you want to be a life coach and your passion is to help homeless people get back on their feet. You want this to be your business. But homeless people are not in a position to spend any money on this kind of product or service. While there is a defined market, they are not already spending money on this kind of product or service. You could volunteer your services and make a real difference, but it’s not a viable for profit business model. Let’s look at another example. Let’s say you’re a copywriter and you want to develop a series of products and services that help start-up business owners write better sales copy for their websites, email broadcasts, blog posts, social media campaigns and articles. Small business owners are a clearly defined market who already spend money on ways to improve their business. This idea gets the green light! If you’re not sure if there’s a market for your product or service idea, spend a few hours on Google searching around your subject area and do your due diligence. It will be fairly easy if you dig in and commit to using your research skills to find out.
49. Take Action - Exercise #11 Go to your Clear Idea Matrix and run each idea through the Common Sense Test. Take your time and really answer each question as honest and thorough as possible. Use the world’s best free research assistant, Google, to do any additional research that is needed. Need more help? Use your personal network, social media, industry associations or the SBA (Small Business Association). If you’re not in the US, look for local support or online support geared towards starting a small business. The time you’ll spend methodically and intelligently evaluating your ideas at this stage can save you months, thousands of dollars in wasted trial and error and untold amounts of stress or embarrassment down the line. Remember, the goal here is to start the right business for you. If you discover your ideal business idea conflicts with your lifestyle goals, then make a choice and change one. Don’t victimize yourself or have a mental tantrum. Re-evaluate your lifestyle goals or look for another related business opportunity. 49 Great work! By now you should have narrowed down your list to no more than 3 viable ideas. If you don’t have any left, go back to chapter four and brainstorm more ideas. If you have more than 3, that’s fine, but to move ahead, you’ll need to use your heart, intuition and intellect to select one idea that has the most promise and put it through the Dollars & Sense Test.
50. 50 The Dollars + Sense Test The Dollars & Sense Test is about ensuring that your business idea will make you dollars, and that your plan makes good sense to move ahead. There are three parts to this test: 1. Industry Expert Research 2. Customer Research 3. Get Going! Industry research consists of getting to know the experts: the people who are already active in the industry you want to get into. You’re going to talk with active people in the industry with experience, people who are successful doing what you want to do. The goal here is to talk with at least 5 people. If you can talk with more, that’s even better. Remember that most successful people are grateful for their success and happy to offer insight to help new entrepreneurs go in the right direction. Make sure you send a personal thank you note after each meeting.
51. 51 Your goal is to speak with at least 5 industry experts before you begin, but I want you to start with just 2 right now. The first place to look for connections to experts are your friends, family and existing network. Make calls, send emails and use social media to find the two first people you’ll connect with and talk to. Your goal is to set-up a 20 minute conversation over phone or Skype or even better, take these industry experts out to coffee or lunch. Take Action - Exercise #12 Here are sample questions to ask. Adjust these based on your desired business or industry. - How did you start your business? - What were the first two years like? - What mistakes did you make? - What kind of rates can someone starting out expect to charge? - What kind of initial capital, if any, does it take to get started? - Where did you find your first clients or customers? - What skills are essential to succeed in this industry?
52. Your goal is to shop your idea around to your target market and see if anyone actually wants it. This can be the most nerve wracking stage of all, but it’s also the most exciting. Don’t worry about trying to be “salesy” or “pitching” at this stage. Once again, you’re going to focus on asking questions that get people talking about themselves, not about you. This step is important because you’ll learn things that you could never figure out in your own head. Rather than spending a ton of time coming up with different kinds of complex packages and pricing structures or hiring a designer to create an expensive website, you’ll find out if anyone even wants what you’re trying to sell in the first place! You can start off the conversation saying something like this. “I’m thinking about starting a ______ business and I’m researching the market right now. I’d love to get your opinion on . . .” Asking people for their “opinion” is key. All of us like to feel important and like our ideas matter. For example, let’s say you’re thinking about starting an urban pet care business. You’d find at least 20 people you know who live in a city and who have pets and talk with them. 52 Once you’ve spoken to experts and you have a good understanding of the industry landscape, it’s time to talk with potential customers. Customer Research
53. 53 You’d say: “I’m thinking about starting an urban pet care business. I know how much you love your pet and I’d love to get your opinion on these kinds of services...” Then ask questions, really listen to their answers, and take notes! Here are sample questions to get you going. Adjust these questions based on your business idea. What are your three biggest frustrations in this area? What about this keeps you up at night? How important is this for you to handle right now? Have you ever paid for a product/service like this before? If so, what did you pay for products/services like this? What did you like best about it? What frustrates you about buying this kind of product or service? What’s a dream solution for you in this area? Again, I can’t stress the importance of talking with real, potential customers enough. If you keep the focus on them and really listen to their problems, frustrations and dream solutions, you’ll be astounded by how much value you can provide to the market.
54. Take Action - Exercise #13 Set up appointments to talk with at least 20 people who fit your target market. Listen and take notes. You’ll have feedback that will be invaluable moving ahead. You’ll either discover there’s not enough demand for what you’re trying to sell, or more likely, you’ll know exactly how to position yourself and your business to start getting customers right away. If you discover there’s not enough demand, take a few steps back and grab another idea from your Clarity Matrix, and repeat the previous steps until you have an idea to move ahead with. Now, Get Going! At this point, you should have a great understanding of your industry, your target market and have enough clarity to get out there and really start the right business for you. If you’re starting a service based business, you can start making offers and start getting paid relatively fast. If you’re starting a product based business, it may take you a little more time, but by now you should know enough to make some initial product samples and get them out into your market. There’s just one last piece to the Dollars & Sense test and it’s about getting out there and doing it! 54
55. This is where the rubber meets the road. You’ll want to test offers, take a look at what works and what doesn't and make adjustments accordingly. There are two key ways to get going and we’ll cover each in detail. Direct Offers: Free To Paid Partnership Opportunities 55 Direct Offers: This is about being direct and making specific offers to the people you want to work for. You’re not going try and close deals via email or phone. You’re just going to introduce yourself, explain how you can help and see if they’re interested in hearing more. You can make direct offers to people and ask to be paid right from the start too. But I will say that offering your product or service for free is an excellent way to get experience and clients fast. It takes all the “risk” away from working with you and allows you to really prove that your business works. Plus, if you’re really good at what you do or your product is awesome, there’s a very high chance your free work will turn into paid work fast.
56. If you are going to work for free, make sure you set clear guidelines. Either establish a set amount of time (3 weeks) or set parameters for a clearly defined project, or have your client agree to give you a testimonial or referrals given they’re happy with the product or service you provide. The point here is that strategically giving away your product or service in the beginning is an excellent way to gain traction, experience, referrals, testimonials and likely, paying customers. If you send out 10 well thought out, customized email pitches a day and don’t stop until you close deals, you will have a business before long. If no one responds, you know you need to tweak your offer, your copy and perhaps your tone. Don’t be afraid to ask for feedback and adjust your pitches accordingly. Bottom line is that this is all figureoutable and I know you can do it! 56 Take Action - Exercise #14 Make a list of 50 people you’d like to work with and start making offers. Block out at least two hours a day to write customized emails and send them out to your prospects. So much of business is a numbers game. The more offers you put out, the more likely you’ll get someone who is interested in your product or service.
57. Keep an open mind and heart and pay close attention to the feedback you get. Make adjustments to email subject lines, your offer copy and your pitch until you find out what works. One of the most challenging parts of starting your own business is finding potential customers. This is where using your network, social media and the internet are extremely helpful. You've got to be resourceful, creative and unashamed of putting yourself and your new business out there. But this next idea could help you even more... Partnership Opportunities: In any business or industry, there are people that serve the same market who are not competitors. For example, in the fitness industry, people who hire personal trainers may also be interested in a hiring a nutritionist or a massage therapist. In the film and photography industry, people who hire a photographers also often need make-up artists, hair stylists and clothes stylists. Find successful businesses who are already serving your target market and offer to provide products or services, to their clientele. Obviously, if you’re willing to offer products or services for free or at a discount, you’ll make it a lot easier for your prospective partner to get you in front of her customers. 57
58. You’ll also want to offer your prospective partner a chance to sample your product or service herself so she knows the kind of professionalism and value you’ll bring to her clients. This comes down to being generous and authentic in your desire to have long term relationships and partnerships with people in your industry. 58 Of course, as your own business grows, you’ll want to return the favor by sending your clients or customers to your preferred partners. Partnership opportunities like this exist everywhere, if you’re willing to be creative and look for ways to make your partner look like a hero to his or her client base. Take Action - Exercise # 15 Think about who else is serving your target market right now and how you could make your potential partners look like a hero to their client base by offering a free or discounted product or service. Reach out to them and connect. You’ll want to develop a real relationship with them. So yes, this approach does take time, work and effort. But landing just one or two key partners can build a profitable business overnight.
59. 59 Make a list of at least 10 potential partners. Stretch yourself here. It’s worth it! Now that you’ve got your list, start reaching out to potential partners and making offers. Once again, this is a numbers game. You’ve got to be consistent and pleasantly persistent and you will breakthrough. Wash, Rinse and Repeat! You now have all the tools you need to start the right business for you. The insight and feedback you’ll get from putting offers out there and working with real clients and customers will inform how you’re going to move your business ahead. As we discussed in the beginning, business is a constant game of taking action, observing what works, adjusting what doesn’t and then taking more action. This is a game that requires constant hustle, focus, growth and persistence.
60. 60 Name / Contact Info What Can I Offer Them? Let’s move on to review what we’ve learned and lay out your plan to take it to the next level!
61. Planting Seeds To Grow Your Business | Supernova Manifesto "The reward in business go to the man who does something with an idea." - William Benton 61
62. CONGRATULATIONS! If you’ve taken consistent action throughout this program, you should be well on your way to starting the right business for you. Before moving ahead, I want to further strengthen your resolve to start and run the right business for you. Before moving ahead, I want to further strengthen your resolve to start and run the right business for you. Consider it your "Supernova Kickstart Manifesto". Read this aloud and feel free to cut and paste it somewhere you can see it often. 62
63. I understand that a successful, profitable business requires consistent focus, hustle and most importantly, total commitment. I hear that, and I’m in. I understand that in business and life, there are no guarantees. Some ideas work and others will not. Business success is a constant evolution that requires refinement and non-stop adjustment. The only way I can fail is if I stop trying. I will not “hope” that my business works. I will choose a clear business model, research my chosen industry, connect with people who’ve done what I want to do, test and validate my ideas to prove my concept and then strategically move ahead with every ounce of passion, creativity and faith I have. I know that clarity comes from engagement, not thought. I can’t figure things out in my head - I need to get out there and do them. I’ll get valuable feedback from the industry, my customers and myself. I will test, adjust, evolve and repeat this process throughout my business career. I understand the first two years of any business is usually the hardest. If I have to work nights, weekends, get side jobs, make adjustments to my lifestyle, or otherwise “sacrifice” in order to succeed, I’m willing to do what it takes to make my dream business a reality. SUPERNOVA MANIFESTO 63
64. Let’s review what we’ve covered in this program. You learned the right way to think about any business you want to start, how to align your business dreams with your lifestyle goals, how to generate endless business ideas, how to handle multiple passions, how to intelligently and methodically research your ideas, connect with experts in your industry, test your idea with customers to ensure your idea makes sense, and, most importantly, how to get customers for your new business. The great thing about this guide is that you’ll never have to wonder whether or not an idea will work or spend time spinning your wheels wondering what you’re doing wrong. You can quickly run any idea through The Common Sense Test, and then The Dollar & Sense Test to ensure you’re on the right track. And if you take a wrong turn somewhere, it’s no big deal. You’ll be able to back up a few steps and repeat the process until you get it right. As you progress on your entrepreneurial journey, there are three key areas that every business owner needs to focus on in order to grow their business. 64
65. 1. Personal Mastery. I often say that starting and growing a business is the best personal development training you can ever get. That’s because every day you must step outside of your comfort zone, learn new things, own your worth, communicate effectively, handle rejection, take consistent action, manage your time and energy with excellence and always come from a place of truth, honesty and service. 2. Industry Mastery. If you want to be a leader, command the highest prices, attract the best talent and customers, earn what you’re worth, and make the biggest impact you can with your business, then you need to know everything you can about your industry. Make it a top priority to know the other players and your competitors. Read trade magazines, set up Google Alerts for your topic or industry and read the top books related to your field. Make it your goal to become a master of your chosen industry. 3. Marketing Mastery. Marketing and sales is the engine that makes every business run. Marketing simply means learning how to effectively communicate in a way that connects with your ideal customers and inspires them to buy your products and services. You’ve got to commit to become a master of marketing, sales and communication so that you can be of service and change the world through with your business. 65
66. 66 As we wrap up Supernova Kickstart Guide, I want to leave you with this. You can do this. I believe in you. I believe in your dream to create a business you love that’s both profitable and makes a difference in the world. Trust yourself and stay the course. You have everything you need, so don’t give up on yourself and don’t quit. Everything is figureoutable. I’ll be cheering you on and hope that you’ll keep in touch as things progress with your new and soon to be outrageously successful business. There’s so much more you will learn about growing your business and creating a truly profitable enterprise that not only makes money, but more importantly makes a difference in the world. "See" you next week!