You have that entrepreneurial spark. You yearn to own your business … but doing what? Sure, you've got some special expertise that few others have. But how do you turn that into a business? How do your knowledge, experience, and wisdom translate into income?
When I launched my business, I knew what I wanted to do. My knowledge and experience centered around providing others with communication strategies and copywriting. At the time, I hadn't codified the 10 steps I give you below. I had to rely on trial and error and wise counsel from others. As a result, I've developed a tried-and-true business building process. Since then I have helped countless other entrepreneurs build their Wisdom Enterprise™.
Due to my success and theirs, I have the confidence to assure you that you too can build such a business. In fact, anyone can build a Wisdom Business™. Anyone can sell their ideas by following these 10 steps.
10 Steps for Building a Wisdom Enterprise™
1. Identify your unique Wisdom Premise™. This is the one-of-a-kind expertise and knowledge that you have to share with others. This defines what you will market and sell. As I mentioned, my unique wisdom premise when I started this business was communication strategy and copywriting. Focus not only on what you're good at, but what you enjoy. Now, clearly spell that out.
2. Know your “perfect customer” well. Entrepreneurs often struggle with this one. They want to market to everyone. But it's the specialist that makes big money. People are always looking for a specialist. So define your ideal customer and market to them as their specialist.
3. Craft your value proposition. What is it that you can offer your clients that they can't live without? What are their problems that you have the solution for? Let your potential clients “taste,” “smell,” and “feel” the value of what you have to offer them. Make them “hungry” for what you have.
4. Create an “indoctrination” process. Make it easy for your clients to work with you. Tell them what to expect. Design processes that ease them along. Give them clear, simple steps.
5. Remove “friction.” Expect potential problems and speed bumps along the way. Often these can arise in the form of interpersonal conflicts. Ensure that you or your processes are not the cause of any friction. Run ahead of your client preparing the way for them. Help them remove those things that would derail or slow their progress.
6. Form strategic partnerships. I can't emphasize how important this is. I didn't just land clients like Jack Canfield and Tony Robbins out of thin air. I've served these clients and others as the result of forming strategic alliances with people. You will never accomplish anything of value without the help of others.
7. Be the client you want to have. There are two sides to this. First, model the behavior you want your clients to exhibit (don't try selling a $50,000 coaching program if you haven't invested at that level yourself). Second, treat your client the way you would want them to treat you if you were their client. Make every client feel like they are your only client. You are there to serve them.
8. Develop your Unique Wisdom Talk™. This is your product or service. This is the package that you will deliver to others. Design this in a way that others will clamor for it! Make it dynamic, fun, unique and vital to their business. Present it in a variety of forms.
9. Leverage digital media to build an email list. Your goal here is not to amass hoards of faceless people. Build a following. Develop a platform that draws people to you. Provide incentives. Offer people something of value so they come to you and give you permission to email them and sell to them.
10. Make an offer. Again, this is often a tough one for new entrepreneurs. But you can't make a sale unless you can make a clear offer. What is it you are asking potential clients to do? Spell it out clearly. Make it easy for them to say, “Yes.”
Sure, the details of each step are a bit more complex than what I presented here. But building a business based on your knowledge and experience is surprisingly simple. I hope this blog post leaves you excited to put these steps into practice! Why not start today?
Where are you currently in the above process? What particular step do you find most challenging?