Ep. 87: The 7 P's to Profitability (part1)

Online Business Startup Tips For New Entrepreneurs

In this segment, you discuss the steps involved in starting an online personal brand business and emphasize the importance of following a logical order. You also introduce the concept of the "stair-step approach" to building a profitable personal brand business and acknowledge Mike Kim for this concept. Here are the key points covered:

1. Transition to Online Business: You highlight the benefits of transitioning from offering on-site services to running an online business, including reduced expenses and increased convenience.
2. The Stair-Step Approach: You introduce the idea that building a profitable personal brand business involves following seven key steps in a specific order.
3. The 7 P's to a Personal Brand Business: You list the seven steps in the stair-step approach:
4. Personal Story
5. Platform
6. Positioning
7. Product
8. Packaging
9. Pitch
10. Partners
11. Personal Story: You explain that the personal story is the foundation of a personal brand business and stress the importance of storytelling in marketing. You mention Donald Miller's idea that customers should be the heroes of the story, not the brand itself.
12. Platform: You emphasize the necessity of having a website and a blog in today's online world, as they are essential for establishing an online presence. You mention the importance of clarity in messaging.
13. Two Big Mistakes: You discuss two common mistakes made in website content: not focusing on how the product or service helps people survive and thrive and making the message too complicated for the audience.
14. Storytelling Structure: You provide a simple structure for storytelling, where a character wants something, encounters a problem, receives guidance, and achieves success.
15. Point of View: You mention two possible points of view for telling a personal story: a bird's-eye view and an eye-to-eye view.
16. Website vs. Social Media: You emphasize the need for a website as the central hub of an online business, as opposed to relying solely on social media platforms. You explain that with a website, you have more control over your content.
17. Positioning: You introduce the concept of positioning in the market and highlight the importance of understanding your unique selling point (USP). You provide examples of what you can give that your competitors can't and vice versa.
18. Strategies and Tactics: You explain the difference between strategies (the "how") and tactics (the plans or procedures) and stress the importance of aligning strategies with goals.
19. Goal and Strategy: You share an example of setting a goal to increase passive income and the corresponding strategy, which involves creating digital downloads of valuable content.
20. Tactics: You list tactics for achieving the goal, such as promoting the value of digital downloads, consistent communication, and connecting with industry leaders.
21. Email Communication: You mention the importance of regular communication with an email list to achieve specific business goals.

This segment provides a structured framework for starting an online personal brand business and highlights the significance of storytelling, clarity, and strategic planning in the process.

Website: www.tomclairmont.com

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