10 steps to starting and running your business successfully; do these you succeed don’t; you continue in the rat race.

1.      Find a starving crowd: “find a group of hungry people and then create a feeding frenzy”. The first step to guarantee you succeed in your business is to research about what people desperately and passionately want and they are eager to pay for to get.

2.      Discover what bait they’re biting on: discover who are the people that are already feeding these sets of hungry people and the way they want to be fed.

3.      Convert your bait to super bait: use your unique selling proposition (USP), but in this case your USP stands for:

·         U-: Ultimate Advantage (What you do best than your competitors)

·         S-: Sensational offer (An irresistible offer you make to your hungry crowd)

·         P-: Powerful promise (Outrageous promise)

                     Example

       

      Case 1: A health consultant specializing in diabetics.

·         Ultimate Advantage: We cure you strictly with herbs without pains and rigors.

·         Sensational offer: We cure you before paying us a dime.

·         Powerful promise: You get cured in 1 week or we pay you #1,000,000.

       

4.      Draw the structure of your business: Structure how the product or services will be delivered to your customers, your break even point, number of staffs needed to successfully execute your business and all other ingredients necessary for the upkeep and running of your business.

5.      Close the sale: offer them the product or service and ensure that you don’t just always meet their expectations but you exceed their expectations.

6.      Practice great follow –up: Always be a master at instant gratification; always follow up and find ways to make it automatic.

7.      Make additional offers:

·         Increase your number of customers.

·         Persuade these customers to buy more in their initial offers.

·         Encourage them to buy more frequently.

·         Always follow up with back end products that will complement your initial offer.

              

8.      Always treat your staff right and fair.

9.      Take care of the cash flow invest it don’t squander it!

10.  Keep your records straight: don’t joke with your record keeping.

Today’s Exercise

1.      List who your target audience are?

2.      List what they want not what they need.

3.      List ten ways to motivate them to act now.

Brainstorming Session

1.      Write out your personal objective for starting your own business venture, your personal and compelling why.

2.      Type this why up and post it where you will see it every morning when you wake up and every evening before going to bed.

3.      Ask yourself these questions and answer it: “How can I identify a hungry group of people and then create a feeding frenzy?”