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Entrepreneurship: 5 keys to building a successful business

Name: Entrepreneurship: 5 keys to building a successful business
Rating: 4.7 (29 reviews)

Learn the core components to starting a great business from a entrepreneur who made his first million at the age of 24

Created byThe Entourage

Last updated 8/2016

English

What you'll learn

An understanding of how successful entrepreneurs think and how to apply that thinking in your own life.
The foundations you’ll need to develop a business idea that truly resonates with consumers and addresses an actual market demand.

Course content

8 sections • 45 lectures • 2h 13m total length

Course overview3:10
Who is Jack Delosa?1:34
If we haven’t already met before, I’m Jack Delosa, Founder & CEO of Australia’s largest education institution for entrepreneurs, The Entourage. I’m also an author, investor and BRW Young Rich List Member.

I’ve been an entrepreneur since I was 18, and since then have built several companies, which have reached heightened levels of success. My intention is to empower you with the education you’ll need to do the same.

Be an independent thinker2:53
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.
View your work as extension of yourself1:43
Where most of the population talk about work-life balance, entrepreneurs view their work and life as an extension of themselves, do you?
Flexibility2:20
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.
You need to hold a vision2:20
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?
You need to hold a mission1:49
Find out how setting up a mission will help you fulfill your vision.
Exercise: Create your own vision and mission1:25
Craft your own vision and mission.
Everything is your responsibility2:36
Find out why it is critical to take full accountability and responsibility to become a successful entrepreneur.
Effective leadership1:43
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.

Become the best in the world1:55
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.
Develop customer segments1:54
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.
Understand the problem1:24
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.
Develop your unique value proposition1:39
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.
Achieve evidence of fit2:10
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.
Iterate2:01
After going through the product development cycle, start again. Continuously improve your product to ensure best product to market fit.
Adopt null-hypothesis2:09
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.
3 rules for a startup2:55
Entrepreneurs love to pursue new opportunities. Learn why staying focused and avoid tempting distractions will save you time and energy.

Leverage - do more with less2:24
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.
Build a customer profile4:20
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.
Go where they are - key marketing channels1:51
Where does your customer segment hang out? Start building your following based on constructive channels.
Build relationships2:03
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.
Call to action2:09
Provoke a response from your audience. Learn how to offer your product and ask the customer to buy.
Build your own audience3:16
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.
Recency and frequency2:14
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.
Develop a marketing funnel2:29
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’.
Test and iterate1:33
Testing will give you the chance to improve your marketing funnel and increase your conversions.
Leverage the media2:57
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.
How to write a press release that captures media5:15
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).

80% of the time3:38
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.
Don't sell, help them buy3:38
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.
Advice. You are the doctor2:47
Adopt this sales philosophy and never feel uncomfortable about selling again.
Design deliberate packages3:18
Package up your products to encourage customers to spend more money.
Sell more to existing customers1:52
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.
Vary customer service level4:02
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.
Blog post: Brand separation between Zappos.com and 6pm.com0:08
The brand separation between Zappos.com and 6pm.com is a best practice customer service variation. This article will give you insights about branding decisions.

Exceeding expectations is key3:12
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.
What makes The Entourage one of the best places to work?7:44
Packaging and design is important2:19
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.
Delegate and dilute3:07
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.
The system for writing systems5:52
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.
Customer feedback is key2:47
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.

What are the top 3 mistakes startups make?6:20
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 themselve
What are the biggest business myths?10:34
In this episode of #AskJackD, I discuss the many myths about running your own business. The overnight success... build it and they will come... the list goes on.

Requirements

The motivation to learn the skills required to start and build a successful business.
Familiarity with entrepreneurship concepts are helpful but not necessary.

Description

Hi Everyone,

Great businesses are built by entrepreneurs who understand that their business is a reflection of themselves. When starting a business you are architecting the future from the ground up.

In order to build a business that reaches any kind of heightened level of success it is imperative to equip yourself with the knowledge you need to push through each stage of the journey.

To empower you on this journey, we outline the initial 5 practical steps you’ll need to launch your business in this course:

YOU - Characteristics of great entrepreneurs

CREATE - Develop a business idea that will gain traction
MARKET - Speak to the hearts and minds of your audience
SELL - Enrol customers and build a sales model
DELIVER - Delight your customers and set your business up to scale

If we haven’t already met before, I’m Jack Delosa, Founder & CEO of Australia’s largest education institution for entrepreneurs, The Entourage. I’m also an author, investor and BRW Young Rich List Member.

I’ve been an entrepreneur since I was 18, and since then have built several companies, which have reached heightened levels of success. My intention is to empower you with the education you’ll need to do the same.

Remember, learning and consuming knowledge is only half the equation. Success in business is 50% a result of the education we undertake and 50% a result of our ability to implement. Remember to ensure you’re taking steps to action what you learn to set yourself up for success.

Thank you for taking the time to do this course, I hope it resonates with you.

Live On Purpose,
Jack Delosa

PS: I’ve also included episodes of #AskJackD, my online show and podcast. Through this series I respond to questions around building a successful business and overcoming the challenges of entrepreneurship. You can watch the show by heading to my Facebook page: Jack Delosa.

SECTION descriptions:

YOU – Characteristics of great entrepreneurs

Throughout this section we will go through the seven core characteristics of great entrepreneurs. You will get an understanding of how successful entrepreneurs think and how you can apply that thinking to your life.

CREATE - Develop a business idea that will gain traction

In order to gain traction as an early stage business, your idea needs to address a genuine market demand. In this section you’ll learn how to test your idea prior to launching, so that you develop a product or service that touches the hearts and minds of your audience.

MARKET - Capture an audience

Here we’ll talk about how to hone in on your audience through marketing and convert your audience into leads on a shoestring budget. We’ll also cover how to use the media to build your brand and reach millions of people, without spending a cent.

SELL - Enrol customers and build a sales model

In this section you’ll learn tactics to help you get consumers to actually buy your product or service. We’ll go through everything from bringing on new customers, to creating recurring revenue from your existing customers.

DELIVER - Achieve customer satisfaction and set up for scalability

As a business, the happiness of your consumer should at the centre of every single thing you do. Here you’ll learn tactics that will allow you to delight your consumers in a way that other brands don’t, and set your business up to to scale at large if you chose to.

Who this course is for:

Anyone who is thinking about starting a business or already planning the launch of a product or service.
Aspiring business owners who are looking for inspiration to grow their business.
Entrepreneurs who are looking for advice from somebody with ‘been there done that’ experience.
Strategies to outperform competition while marketing on a shoestring budget.
Learn how to find purpose and map out the vision for your business and life.
How to get inside the minds of your consumers so that you can market and sell more effectively.
Understand how to achieve customer satisfaction and set your business up for future scalability.

Entrepreneurship: 5 keys to building a successful business

What you'll learn

Explore related topics

Course content

Introduction2 lectures • 5min

YOU – Characteristics of great entrepreneurs8 lectures • 17min

CREATE - Develop a business idea that will gain traction8 lectures • 16min

MARKET - Capture an audience11 lectures • 31min

SELL - Enrol customers and build a sales model7 lectures • 19min

DELIVER - Achieve customer satisfaction and set up for scalability6 lectures • 25min

Conclusion1 lecture • 4min

Bonus material2 lectures • 17min

Requirements

Description

Who this course is for: