5 Essential Steps To Building a 7-Figure Business

Entrepreneurship is about creating a life of choice and not of chance. It requires you to step out of your comfort zone and create a path that is uniquely you.

Your vision and mission is your ultimate guide and driver to success. Learn how being flexible in your approach will maximise every opportunity in actualising your dreams.

Your vision and mission is your ultimate guide and driver to success. Learn how being flexible in your approach will maximise every opportunity in actualising your dreams.

Learn why it is critical for today’s entrepreneurs to hold a vision. What is the contribution you want to make through your life’s work?

Find out how setting up a mission will help you fulfill your vision.

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Find out why it is critical to take full accountability and responsibility to become a successful entrepreneur.

It is when you are able to communicate, inspire and unite people around a cause greater than yourself that you will become a visionary leader.

The entrepreneurial journey you are starting is challenging and you will be tested time and time again. Discover your passion worth fighting for and dedicate your life’s work to it.

Product development cycle 1 | 4

In the next 4 videos we are going through the product development cycle, which will help you achieving product to market fit. Design a product which solves a market problem and satisfies your customers.

Product development cycle 2 | 4

You need to understand the problem your customer is facing better than they do: why is this a problem, where do customers currently go for a solution, what do they look for in a business that solves that problem.

Product development cycle 3 | 4

It’s not enough to solve a problem and to meet a customer demand. Something truly unique will differentiate you from the competitors and the rest of the market.

Product development cycle 4 | 4

Go to the market with a minimum viable product (MVP) as fast as you can and start observing customer behaviour. Continually improve your offering based on the information and feedback you get.

After going through the product development cycle, start again. Continuously improve your product to ensure best product to market fit.

View everything as a bad idea until you prove it as a good idea. Learn what null hypothesis is and how being the critical will help you make the right decision.

Entrepreneurs love to pursue new opportunities. Learn why staying focused and avoid tempting distractions will save you time and energy.

Becoming a master of leverage will ensure you don't allow lack of resources such as time, money and people to deter you from your goals.

Understand your consumer better than they understand themselves. The hearts and minds consumer quadrant will enable you to speak to your customers in a way that truly connects with their wants and needs.

Where does your customer segment hang out? Start building your following based on constructive channels.

Business is the exchange of value. Discover how to build valuable relationships so you can demonstrate to your audience how you will add value to people’s life to lead them to buy from you.

Provoke a response from your audience. Learn how to offer your product and ask the customer to buy.

We live in an era where everybody can build their own audience. Building your freestanding business database outside of Facebook and Snapchat means you aren’t bound by the terms or risks of another business. Learn how to build an audience that you own.

Being at the front of your customer’s mind is crucial in a buying decision. Learn how to implement recency and frequency in your communication without spamming your audience.

Draw all your marketing activities together to lead people from their first interaction with you to a sale. Discover how to transform ‘I don’t know who you are’ to ‘I want to buy from you’.

Testing will give you the chance to improve your marketing funnel and increase your conversions.

Utilising the media has two major advantages - it doesn’t cost anything and it cuts through the advertising your large-scale competitors are paying for.

In this episode of #AskJackD, I explain why you should explore widely, but keep your focus narrow (0:19), why you should build your own stage and your own audience (1:48) and share my tips for tapping into current affairs to build the most effective pitch to the media (3:01).

As an early stage entrepreneur, you should spend 80% of your time on revenue generating activities. It doesn’t matter how good your product or service is, if you don’t spend enough time on revenue generating activities you’ll fail.

We live in a world where nobody likes to be sold to. Find out how you can make your customers buy products and services without selling to them.

Adopt this sales philosophy and never feel uncomfortable about selling again.

Package up your products to encourage customers to spend more money.

Your business is up and running, you have an existing audience, but you’re spending most of your time trying to sell to new customers. Learn how to leverage your existing customer base.

Customer service is critical to customer satisfaction and happiness. Understand your customer’s expectations and vary your customer service levels according to your brand and price point.

The brand separation between Zappos.com and 6pm.com is a best practice customer service variation. Download the attached article to gain an in-depth insight into why Zappos decided to establish two different businesses.

Customers are happy when they get more than they expect. You need to know what your customers expect in terms of timing, price, packaging and customer service - then exceed those expectations.

The look and feel of your product and service is important in creating an exceptional customer experience. Go above and beyond and bring your brand to life.

As your business grows, your involvement in the day to day operations needs to dilute. Enable your team to take over tasks, so you can focus on scaling your business.

As you begin to ‘delegate and dilute’, you want to empower your people to systemise the business on your behalf. As you bring on more and more staff, you don’t want to be the only person that creates systems.

Feedback and even criticism from your customer is the most valuable information you can get. Don’t let your emotions deter you from taking feedback and continuously improving your product.

This the place where you gracefully close the course. We don't want to fully say goodbye though. Instead, leave your students with a clear path of what to do next. This could be a fantastic opportunity to cross-sell your students on another product, or send them out onto a special email sequence.

This section is very important as it helps keep customers in your universe of knowledge and in your sphere of influence. Use this as an opportunity to check out more resources and continue their deep learning on the subject at hand.

You've Got This!

In this episode of #AskJackD, I share the 3 biggest mistakes business owners make which act as barriers to their growth.

• Having a lack of focus

• Having a solution before looking for a problem

• Trying to do everything by themselves