SNM190: If You Want to Build a Successful Business You Have to Start with a Pyramid
Creating a solid foundation for your business plan starts with forming a supercharged business plan. You have to be at the top of your game not by predicting, but by adapting to changes, and this is how the pyramid way of doing business can help you out.
Think about what will your business look like. Will you be able to offer a lot of freebies to your audience and will you be able to create enough products to sell?
At the base, you have your gifts and your cheapest offers. So as people go up the pyramid, up in levels, the price goes up and the access to you increases. The reason the pyramid is big at the bottom and small at the top is because it’s ranked by access to you.
So people at the very bottom are people who take something for free from you, and at the top are people who take one-on-one coaching from you. What you really want to develop is what’s called a Plan B or a layered defense. This means that if people don’t buy one thing, there’s something else they can buy. This will increase your lifetime customer value and the relationship you have with your audience.
This will allow you to go from being a PRODUCT to being a BUSINESS.
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You can build your business using this pyramid, but your initial strategy is to just put all of your ideas in a single place and structure them according to levels. Testing before producing something is crucial. That’s how you know what your audience wants or needs, and you can incorporate that within your line of offerings.
Sometimes, the thing you thought was really going to hit it off doesn’t, which is why it’s important to test. Predicting may be your forte, but you do not want to gamble with your business. Test instead. Adapt to changes, offer a lot of different products. Do not rely on one product only or you may be out of business in no time.
[clickToTweet tweet=”At the base, you have your cheapest offers with the most expensive on the top. The reason the pyramid is big at the bottom and small at the top is because it’s ranked by access to you. ” quote=”At the base, you have your cheapest offers with the most expensive on the top. The reason the pyramid is big at the bottom and small at the top is because it’s ranked by access to you.”]
That single point of vulnerability is not the right way to position your business. Be versatile with your offers and before you even start doing business – be strategic. Come up with your business plan even years before you launch your business. Plan your numbers. For every structure create a restructure.
It’s the same thing with traffic. If you have one single source of traffic and something happens to it – again, you are out of business. Dangerous gambling there, mate.
You need to expand, add more categories to your blog, produce different types of content so it reaches a wider market. That’s the backbone to success.
Show Notes:
Key Points:
- You need a thorough business plan
- Success comes from the ability to adapt to changes
- Your pyramid is a roadmap for the future so you know where you are going
Resources Mentioned:
Sponsor:
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