The Passion Project TM – Business Launch Blueprint Welcome to The Passion Project TM Business Launch Blueprint! It’s clear that since you have arrived at this very spot, there is a fire burning inside of you – a passion you want to pursue. But you may wonder, “How can I risk all the success that I’ve gained to launch a new business?” Did you hear yourself say that? While launching any new business has inherent risk, and 97% of new businesses fail to reach a sustainable level, it doesn’t mean you will be less successful than you have already been. There are no guarantees, but there are tried and tested business practices that you can follow that will ensure you go through the right steps needed to be one of the 3% that succeeds. I have spent 30 years in the business of launching new products, services and businesses. Over the course of my career, I’ve launched services that are now generating more than $500 million dollars annually for a F1000 company. In fact, I was recognized by my company as having exceptional skills at crafting irresistible products for my clients. The sales leaders even said, whatever I touched was “gold” to them - because it worked. As I launched my own successful business, I noticed that many of my peers in these “online universities” and “business schools” never really got off the ground. Wherever I went I saw the carnage of time and money wasted on ideas that never got off the ground. Many training programs for new entrepreneurs are too broad to be actionable - and implementation is everything in building a successful business! Or… they are too narrow and my colleagues were in the wrong phase of their development cycle at the wrong time, and again wasted valuable time and money – many of them going out of business before they got started. While there is value in learning the hard way, wouldn’t you rather learn the easy way?
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The Passion ProjectTM – Business Launch Blueprint WelcometoThePassionProjectTMBusinessLaunchBlueprint!It’sclearthatsinceyouhavearrivedatthisveryspot,thereisafireburninginsideofyou–apassionyouwanttopursue.Butyoumaywonder,“HowcanIriskallthesuccessthatI’vegainedtolaunchanewbusiness?”Didyouhearyourselfsaythat?Whilelaunchinganynewbusinesshasinherentrisk,and97%ofnewbusinessesfailtoreachasustainablelevel,itdoesn’tmeanyouwillbelesssuccessfulthanyouhavealreadybeen.Therearenoguarantees,buttherearetriedandtestedbusinesspracticesthatyoucanfollowthatwillensureyougothroughtherightstepsneededtobeoneofthe3%thatsucceeds.Ihavespent30yearsinthebusinessoflaunchingnewproducts,servicesandbusinesses.Overthecourseofmycareer,I’velaunchedservicesthatarenowgeneratingmorethan$500milliondollarsannuallyforaF1000company.Infact,Iwasrecognizedbymycompanyashavingexceptionalskillsatcraftingirresistibleproductsformyclients.Thesalesleadersevensaid,whateverItouchedwas“gold”tothem-becauseitworked.AsIlaunchedmyownsuccessfulbusiness,Inoticedthatmanyofmypeersinthese“onlineuniversities”and“businessschools”neverreallygotofftheground.WhereverIwentIsawthecarnageoftimeandmoneywastedonideasthatnevergotofftheground.Manytrainingprogramsfornewentrepreneursaretoobroadtobeactionable-andimplementationiseverythinginbuildingasuccessfulbusiness!Or…theyaretoonarrowandmycolleagueswereinthewrongphaseoftheirdevelopmentcycleatthewrongtime,andagainwastedvaluabletimeandmoney–manyofthemgoingoutofbusinessbeforetheygotstarted.Whilethereisvalueinlearningthehardway,wouldn’tyouratherlearntheeasyway?
ThePassionProjectBusinessLaunchBlueprintisacompleteformulaforsuccess.Fromtestingyourconcepttocreatingyourbrandtobuildingyourteamandgettinginvestorsonboard,ourteamhasputtogetherthebestpracticesneededforanysuccessfulbusinesstolaunchaproductorservicethatisdestinedforsuccess.And,whilehavingasuccessfulbusinessformulaisnecessaryforyoursuccess,soismanagingyourmindset.Gettinginalignmentwithyoupassionisthefirststep.Youalsoneedtolearntosurfthewavesofdoubtalongtheway…butthatisatopicforanotherday.Fornow,proceedwiththepagesaheadandbesuretoaskquestionsifthere’sanythingyoudon’tunderstand.Herewego!
DebBoulangerCEO,TheGreatDo-OverAndcreatorofThePassionProjectTM
The Passion ProjectTM
Business Launch Blueprint
Vision Discover
Plan Build
©2017 The Great Do-Over
1. Discover
©2017 The Great Do-Over
Phase1: Discover Your Passion
ACTIONS AT THIS STAGE:
1. Get clear on your why get clear on the problem you want to solve and the people you want to serve.
2. Clear away any doubts or lingering beliefs that will get in the way of you taking action. To build a business you need to have confidence in yourself so that others will have confidence in you too.
3. Get proof of your concept. Primary research is crucial at this stage so you don’t end up with a product or service that no one wants to buy.
2. Vision
©2017 The Great Do-Over
Phase 2: Vision Your Business
ACTIONS AT THIS STAGE:
1. Reveal your ideal client(s), their pleasure and pain points & develop your avatars
2. Define your products or services
3. Craft your brand promise – name your company and products, register trademarks, ensure no brand conflicts.
4. Create your delivery model – e.g. how your ideal clients will access your products or services
5. Define your benefits as they speak directly to your ideal clients’ pain and pleasure points and are used in your marketing materials and sales pitches
6. Concept test and refine – with your ideal client advisors
3. Plan
©2017 The Great Do-Over
Phase 3: Your Launch Plan ACTIONS AT THIS STAGE:
1. Select your business structure – Work with your legal advisor and accountant on what business structure makes the most sense for you. Register as an entity in your state (C-Corp, S-Corp, LLC, 501-c3, etc.)
2. Create your product architecture – even if you are phasing your launch, have a clear idea of your lead offers and upsell components. Keep the total value of the customer relationship in mind as you build.
3. Develop pricing and create sales & revenue forecasts
4. Document your launch and promotion plans with sequence and timing
Phase 3: Your Launch Plan ACTIONS AT THIS STAGE cont’d:
6. Determine your sales strategy – direct or indirect? Online or offline?
7. Decide how much funding you need - how much you will bootstrap and how much will come from investors, plan 2-3 years out.
8. Determine skills and staffing – Who do you need on your team to execute effectively? Start recruiting talent now.
4. Build
©2017 The Great Do-Over
Phase 4: Build Your Business ACTIONS AT THIS STAGE
1. Determine your visual branding in alignment with your values and brand promise
2. Select technology platforms and providers (e.g. e-commerce, email & campaigns, program delivery, marketing and social)
3. Develop your launch calendar and content for launch sequencing
4. What is your marketing plan? Seek out opportunities to be seen and heard to spread your brand message
Phase 4: Build Your Business ACTIONS AT THIS STAGE cont’d:
5. Create strategic / tactical partnerships – align with complimentary brands/products for joint promotion, look for affiliate partners, outsource non-core activities
6. Staff up – add skills as the volume of business requires; understand your ramp-up curve to avoid being under or over staffed.
7. Monitor performance metrics and adjust accordingly – do you need additional sources of funding?
8. Monitor business metrics and pivot your approach as needed. To be in business you need to be making a profit. Monitor your financials - conversion and retention metrics and expenses. Plug leaks quickly and often.
The Bottom Line § Your ideal customer is waiting for you and desperate
for what you offer. But, 97% of new entrepreneurs will fail.
§ In order to be one of the 3%, you need the mindset, mechanics and metrics to have a successful launch and make money.
§ Finding the right mentor is the first step.
Mindset + Mechanics + Metrics = Money
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