Whether you're just exploring a business idea or ready to get started, this course outlines the critical elements needed for a successful business strategy. You'll uncover the pitfalls to avoid and what it'll take to have a fighting chance at succeeding.
The 9 steps also form a process you'll be able to use over and over as you explore new business ideas. It'll help you identify the major gaps in your thinking, make the necessary adjustments and help you decide whether to proceed with your idea, or not.
Your benefit: Although as you'd expect, there’s some effort and research involved on your part, you will be rewarded with the knowledge that you’ll have a good grasp of the key resources, time and money required to move ahead with your idea.
Should you need to develop a full business plan with the financials and operational details, in order to obtain financing, this 9 step process will give you a solid start towards that.
Before examining the 9 steps, you as the entrepreneur and initiator of this business idea, needs to establish your "end in mind" for this venture. In other words, what is your vision for this venture and how do you want it to "show up" for the eventual consumer in the marketplace. How will you and your product be viewed once it’s in the marketplace? Leader, follower, loser, winner?
At the core of this course, we’ll examine the makeup and details within each of the nine steps, which are:
In the end, the costs associated with supporting this venture, versus the projected revenue will be placed side by side and a determination made whether this venture has validity, adjustments need to be made or, perhaps it should be shelved.
My hope is that the information forwarded in this course will help to direct you on the path to success.
Welcome to my newest course course! Let me officially welcome you to the "How to Build a Winning Business Strategy Using This 9 Step Process" course. I'm happy you're here.
An overview of the expectations and benefit you should derrive from this course:
A brief run through the 9 steps. the four outward looking factors and 5 inward looking, plus an intro to the basis of these 9 steps.
A questionnaire, using a 1-10 rating scale, to test knowledge but also where the student stands in regards to the 9 key factors to any successful business strategy. Use it before you go through the 9 steps and then at the end of the courseto test the new level of knowledge gained.
As the first of the nine steps, this is the most important one to get right - your ideal or target customer. All else will revolve around them. Your value proposition, support systems, resources and activities. In this lecture we'll cover:
A "Buyer Persona" worksheet developed by a partner company of Hubspot, which is one of the premier Inbound Marketing and Sales CRM software vendors.
Next up is identifying your value proposition to that target customer you just identified. The real question to be answered: is what you’re marketing, what they are looking for? Again we go through the key points:
Now that you have your customer identified and have the right product (value proposition) for them, how ill you get that product to them? Here we'll:
Ok, now that your ideal customer has your product in hand, what support and short and long term interactions will need to take place? For instance will it need to be installed and maintained? Points we'll look at include:
We just covered the four most important steps. Not that 5 -9 aren't just as important but, these four are where the direct human interactions with your target customer occur. Happy customer, happy business:-)
Now we begin to look at the more concrete factors, the ones that we have much more control over, can measure and analyze. Starting out with the revenue stream(s) answering the same probing questions still apply:
At the end of the steps, you’ll end up measuring the potential incoming revenue stream(s) vs the costs (which are summarized in the last step) you’ve identified and decide whether this business idea has a chance of succeeding or not.
Perhaps you’ve checked off everything thus far but have you realistically looked at the resources needed to carry out the various tasks.
Here as with the next three factors, I suggest that we need to draw out the process or list and detail all touchpoints where your product, company and customer intersect. Then evaluate what will be needed to support that activity, both in human as well as products. The major points we'll walk through include:
Included is a simple SWOT analysis to help identify our strength, weaknesses, areas of opportunity and threat areas that if not strengthen can certainly derail you. You may find this exercise useful in other areas, such as withy the previous point and analyzing the individual resources and activities..
Next we'll look at an example of where those interactions occur.
A prompter to help you sort through the resources you may need to your venture.
What will be the necessary activities needed to support the revenue channels, customer relations activities, the revenue model, the resources we're bringing in.
There will always be opinions about whether partnerships work or not. In some cases they do and others they don't. That’s not what this is about. Here we need to assess whether we have the expert brain power in place to handle or complement key areas of our business. To find out we’ll work through the sequence of:
Again, use the SWOT analysis tool to help with that.
This analysis tool can help you make quick work of identifying your idea's strengths and weaknesses in various areas.
Here we add up the cost of all the activities and resources, human, functional and material that need to be in place to support our venture.We'll do a recap of
A brief recap of the points and steps covered in the course, plus a simple go no go test
It's the expectation that after finishing this course you will have a much better understanding of the major components that need to be in place for a business to have a chance to be set on the path to success. Retake the 9 step test and see for yourself.
Andre is a consummate learner and connector. His passion is empowering others by helping them connect the dots in their lives and in their businesses that will get them unstuck and pointed in the right direction.
As the founder and facilitator of a very successful Internet Marketing Mastermind Meetup group that over the course of five years, grew to over 700 members, Andre had a front row seat to the weekly discussions and presentations given by some of the best subject matter experts around. This allowed him to gain the insights on what keeps most of us entrepreneurs stuck and off track and what gets us unstuck and back on track.
Prior to this, Andre and his wife owned and operated two businesses, plus Andre brings 25 years of high level Product Marketing experience in the technology sector with a Fortune 50 and start-up companies.