(3 PART SERIES)
Along the entrepreneurial ladder, I’ve made some costly mistakes. I recently shared them with a colleague to encourage her when she announced that she was ready to throw in the entrepreneurial towel. I wanted to share them with you, so that you don’t get discouraged before your big breakthrough happens:
STOP GUESSING: Survey your niche first to find out what exactly they want and need...whatever that pain is that keeps them up & gear your product/service toward that. In fact, that's what I did with my last product, "Irresistible Giveaways & Contests." I surveyed my business groups and found out that they wanted a fun way to grow their lists quickly. This product has grossed 4 figures for me already, and got me booked on an international summit alongside Shark Tank's Loral Langemeier, marketing guru Lisa Cherney, and media expert Clint Arthur!
DON’T BUY 1 MORE THING UNTIL YOU READ THIS: Before you invest in the next business product or service (shiny object), create a business plan for the rest of the year. For years, my business plan was to go with that "ONE THING" I thought would launch me into the big time of my niche. And that's not a plan.
DO THINGS IN SEQUENCE: It’s important to do things in sequence. I didn't get this concept until I recently started hearing it from a couple of millionaires. And this simply means there is an order you should launch things in your business. There is an order you should do a: live event, telesummit, product launch, book launch, etc. And if you don't follow that order, it will financial strew you up BIG TIME, because one event actually provides a marketing funnel for the next event. In other words, each event should promote the next event you do. Each event builds up trust in your target audience to want to consume/invest in the next thing you do. (i.e. it’s nearly impossible to sell a $1,000 product if you no one has never heard of you and you haven’t built up a track record by selling smaller products).
Next week, I will cover the next steps you need to incorporate to keep going on the entrepreneurial track.