Picking the right offer or product to put out to the world can be a dilemma, and we often get caught up in the decisions instead of making sales. In today’s show we’re chatting on an important piece of the Lifestyle Builders GPS - The Incubator stage.
Subscribe
Key Insights
- Key Insight - Learn why you should be playing the short game before the long
- Key Insight - Understand the different parts of creating a proper time breakdown for your new business or service
- Key Insight - Discover your "MVP"
Timestamps
- [00:12] - Welcome
- [02:01] - Creating sales
- [02:50] - Regardless if you're an established business or starting out new, this stage will be your launching point for any new product or service
- [05:33] - What is happening in this stage?
- [05:57] - Understanding your customer
- [09:50] - Making sales starts by validating your ideas
- [10:50] - Your time breakdown is 10% Strategy, 30% sales, 40% operations, 5% finance, 5% marketing and 10% admin
- [19:55] - Profit First = 5% profit, 50% salary, 15% taxes, 30% operation expenses
- [23:25] - Creating a team
- [24:55] - Tools and tech
- [28:21 - MVP - Most Viable Product
- [32:32] - When is it time to move on?
- [33:51] - Actions
Resources Mentioned
- Podcast Episode Show 106: 4 Components of Your Business Engine
- Podcast Episode Show 97: Profit First - A Simple System to Manage Your Cash
- Leave Us a Review on iTunes - Let us know how you like the podcast. Ratings help more people who need the show to find it.
- Lifestyle Builders Starter Pack - Grab the templates and worksheets to help you get started as a Lifestyle Builder.
- Lifestyle Builders Incubator - Get the training, mentorship, and community support to launch your product or service.
- Apply For Coaching - Schedule a free discovery call with Tom to see if coaching can help take your business to the next level.
Actions to Take
- Tom's Action - Join us in the Lifestyle Builders Incubator!
- Ariana's Key Action - If you feel like you're in the incubator stage, post up in the comments and let us know what you're working on!
