I'm excited to start a new segment on my podcast called "High Value Questions" where I answer specific questions from my audience about building a business online. You can listen to the podcast version of this question on Apple or Spotify.
I got this High Value Question from Olly in the UK:
"What are the most important first 3-5 things you would do if you had to start again from scratch, tomorrow and hit six figures in 6 months (as an entrepreneur with no personal brand, audience or offer)?"
First of all, what a great question! Second, I love this question because there are probably a thousand ways that you could do this, but I'll share what I would do, knowing what I know. Lastly, I love this question because I do not believe in all the 'get rich quickly' marketing that I see about entrepreneurs growing a 6 figure business in 3, 6, 12 months; it just doesn't work like that.
But let's say that all of my social media following, my email list was wiped out and I had to...
Ever feel like its hard to stand out in a crowded market? I get it, it’s more competitive than ever out there and there are more ‘want-preneurs’ than ever adding more and more content to the already overcrowded sea of information.
Trying to find clients can feel like fighting for the scraps in shark infested, bloody red waters. In fact, that was the basis for a book and business philosophy called ‘Blue Ocean Strategy’.
What is Blue Ocean Strategy?
To sum it up, most of us are competing in an oversaturated and overcrowded market, a ‘red ocean’ so to speak where it is highly competitive, a bidding war, a race to the bottom to beat out competitors. Think about an ocean where there are plenty of sharks and not enough fish and the sharks are fighting for all available resources.
But by starting to think expansively, you can move out of the red oceans and find a ‘blue ocean’ where there is little to no competition,...
𝙔𝙊𝙐 𝙖𝙧𝙚 𝙩𝙝𝙚 𝙩𝙧𝙪𝙚 𝙙𝙚𝙘𝙚𝙣𝙩𝙧𝙖𝙡𝙞𝙯𝙚𝙙 𝙘𝙧𝙮𝙥𝙩𝙤𝙘𝙪𝙧𝙧𝙚𝙣𝙘𝙮.
One of my biggest mistakes in my first online business back in 2005 is I created the business around the products I sold.
There were 3 problems with that:
1 - Unless you own the intellectual property, other people could sell the same stuff that I sold.
2 - People could also could create products that competed with the ones that I sold.
3 - Physical products require materials, manufacturing, warehousing and shipping.
This creates what's called a Red Ocean (bloody red waters where the sharks fight for every fish). It becomes a race to the bottom where the lowest price wins.
But here's the thing that I didn't realize, I shouldn't have been growing a business around the products or 'what I did', instead I should have been building my personal brand and making the offers that I sold just a part of the business. Do you see the difference? The focus is on the brand and not the products or offers.
What is a personal brand?