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Entrepreneur Ideas – Webinar – (6 of 10) Getting Past Survival – 12 Rules for Startup Success


let’s hit it off Evan you know thank you
so much and I’m gonna hand it over to
you all right well thanks everybody it’s
always a pleasure to be able to connect
with fans you guys are coming from the
newsletter or Facebook or Twitter or
wherever you’re coming from it’s great
to be able to do these and hear your
questions so last time we had an awesome
presentation it’s great to get all your
feedback so that we keep doing it so
this one is the 12 steps or started
success part 2 so recovering then going
on to the next step from the last
presentation a little bit quickly about
me I know a lot of you guys really know
most of this stuff so I had a background
19 built and sold the biotech software
hooked up with the venture capital
company raised expansion capital and my
goals helping entrepreneurs to doing
things like this I don’t bunch of
miscellaneous box you guys can check out
whenever you want but I want to get to
the content so this is about survival
and the biggest thing for entrepreneurs
is you got to get to the survival state
you’re just starting with the new
business number one goal is to get to a
place where you’re earning enough money
to pay the bills right it’s awesome to
have a great big vision it’s important
to have that it keeps the more people to
join but if you’re not paying enough if
you’re not making up to pay your bills
it’s going to be hard to stay in
distance huge using my a lot of
entrepreneurs have to close down because
they are not make enough so these two
workshops are about how do we get to the
point where make enough money to survive
Carl quickly mentioned about the
questions you know as they come up you
can always type the main Carl’s going to
be monitoring those questions as they
come in there will be some time
hopefully the end to drill that answer
questions so as they come in make sure
you’re writing the move in and we are
gonna be giving away some prizes
randomly based on the questions that
come in one person I get a free half an
hour call with me we’re going to talk
about your business I had an awesome one
last month so it’s great to do that and
we’re also giving away free packs of our
famous entrepreneur trading parts so
hopefully you could be a lucky winner
just a quick recap of what we did last
month the first six rules follow your
passion work to learn start part-time
build around the customer the amount of
money your income will make depend on
how much value provide and mild success
and I gave you guys a sample mentoring
script that you can use there’s a lot of
interest in that hopefully you guys have
actually gone out and taking action on
that I don’t want to spend too much time
recapping from last workshop the video
is going up on youtube if you’re on our
Facebook page it’s already started going
up I think on Tuesday so you can check
those out we’re going to get to the next
the next rules and I have a bonus one at
the end so quickly it’s going to be
different for you start with the service
sell the business don’t spend until you
earn don’t let this get you down give it
your very best and the bonus one is
going to be don’t quit and at the end
since the mentoring script works so well
i’m gonna give you guys two free bonuses
at the end one is how to create your
pitch and this is going to be whenever
you’re talking to somebody introducing
yourself you have to have a good pitch
and I get bombarded with entrepreneurs
selling me know what they do and their
pitch is just terrible and if you have a
good pitch you’re going to be able to
get customers investors partners media
and extolled you’re busy so I’m going to
work with you guys on how to create
perfect pitch and then also how to
create a quick hundred word bio which
can also help sell yourself and you can
clue danali marketing material so that’s
going to be at the very end hope we got
time to work through that properly so
let’s go so start up rule number seven
so continue from the first six from last
time be different than be you this is
really important so if your appear
starting any business as an entrepreneur
you’ve got to do something different to
stand out right you’re going up against
competitors who have been in the
business for X number of years and if
you’re just doing the same thing that
everybody else is doing you can’t expect
great results right if you want great
results you have to be doing something
different so you have to find different
way to stand you have to find something
that’s unique about your business that
can help you stand out from everybody
else and maybe it’s a specific feature
you have in your in your product or
service you see the degree of service we
provide maybe it’s going after us
the niche where you can really
understand your customers we have to do
something different you don’t want to do
the same thing everybody else is doing
or you’re going to get same or worse
results and the next thing is be you and
this is really important people like to
buy from people people like to connect
with people so a great way to put some
personality into your business is to
show your story right and nobody else
can be you so it’s a way that you can be
different and leverage that when I first
started Evan Carmichael calm it actually
wasn’t about me you know it’s off my
name it was about the famous
entrepreneur is some of the success
stories and people started writing
insane we want to learn about you when
you’re storing why you started this site
and so it’s been shifting that pull a
lot more about my story and if you think
about it people don’t usually like to
buy from big companies but they like to
buy from entrepreneurs where they get to
know the owner and see that their
personal they have a really strong
passion for their business our
number-one rule from last month was do
something around your passion so if you
are super excited and passionate about
your business want to share that story
and let people know about it right so it
could be just a written text of what why
you started your business it could be a
video of you on there telling people you
know welcomed by my website whatever it
is you want to inject personality and
tell your story and if you can get that
passion across people are going to want
to work with your passion is contagious
they’re going to want to be a part of
what you’re doing and if it’s between
buying from you who’s really excited and
passionate and has a straight story and
buying from your competitor who’s you
know no name XYZ company within advice
for you so you want to be able to
leverage that story so be different be
you just a couple quotes from Cynthia’s
entrepreneurs this is from Annie erotic
who has recently passed away but she’s
from the body shop founder whatever you
do be different that was the advice when
mother gave me and I can’t think of her
advice for an entrepreneur if you’re
different will stand up
another quick one from Lynn Lillian
Vernon I want customers snow and relate
to me as an individual and understand
that my company is a reflection myself
so think about your own business think
about again how you can stand up do
something slightly different and also
how you can tell your story and let
people know personal side of you next
start with a service this one is little
controversial but i always prefer if you
can when you’re starting up the start
around the service instead of a product
it’s a couple reasons for first the
service is a lot cheaper to set up a lot
of times entrepreneurs fail and have to
go out of business because they run out
of money it’s hard to run out of money
on a service-based business because the
only costs really are your time so you
can last a lot longer if you look at
that success rates of different
companies you’ll see the ones that have
the highest success rates are the ones
who provide services and the ones who
fail the most are the ones that provide
products or have a lot of a pro expenses
so you want to start with the service
because it will give you a better chance
of success now it’s great to have a
vision of having a product and the
reason why I like a service is it also
brings you closer to your customers so
if you’re targeting a certain niche you
start working with customers in that
market you get to know them a little bit
through the service you’re providing and
then when you’re really close to them
you can launch a product and the chances
of that product being successful goes up
dramatically because you’ve been in
contact with these people you really
understand what their pain points are
and you’re likely to get some orders
even if the product doesn’t make a lot
of money right away you can still stay
on that survival plane and still be able
to run your business because you have
cash flow coming in from the server
science a lot of people don’t like a
service business because you’re
essentially trading your time for money
and that’s true where product is easier
to leverage and create the service but
our focus here is I want to be able to
make sure I can stay in business and not
have to go get a job again so if you can
start a service get close to your
customers overwhelm them with value get
some money coming in so you can ensure
that you’re able to keep your business
going and then as you get feedback from
your customers you’re able to launch a
product from that that could be your big
vision big goal but you’re making sure
that you’re still in business because
you have that successful service going
on let’s start with the service if you
can this is tony hsieh from zappos sold
to Amazon where a service company that
just happens to sell shoes so they sell
shoes online but they really value the
service side of things and then Martha
Stewart to be a really successful
entrepreneur must constantly strive
understand your customers but also
appreciate them and care about their
happiness and I think you get that a lot
more associate the beginning by doing a
service because you’re wiring such close
contact with them and you really build
around their specific problems and pain
points compared to what I don’t want to
discourage you from doing a product
business I think it’s awesome it is a
great way to get more leverage from what
you’re doing but it’s a lot harder to
get to that survival point selling a
product her to selling the service so I
want to make sure that you guys are
still around you know like year later
you’re still in business you’re doing
well you got some paschal coming in and
you’re ready to really explode number
nine sell the business it possible i
always recommend trying to do b2b sales
to start instead of be two seeds we to
be selling the business and b2c selling
the consumers the main reason is if
you’re selling the business owners and
you’re finding that you can be a really
valuable part of their business they’re
going to spend more money with you
they’re going to hire you on an ongoing
basis and you’re going to get a lot more
paschal appointment through business
it’s really hard to establish cash flow
this is a challenge for new startup
entrepreneurs how do I get the cash that
I need on a regular consistent basis or
can pay my bills and staying in business
and if you’re selling to a business you
heard the cell into an individual
consumer they might spend 100 a thousand
times more with you than any one
individual consumer
so that’s a good opportunity to make a
lot more money coming in consistently
regularly and if you over deliver like
crazy and they see you as a valuable
part of their company in what they do
then they’re going to want to keep you
on board right there’s no reason for
them to check you up where consumers can
be a lot more fickle now they may buy
from you only once and then your your
constant challenge and struggle is to go
and find more and more and more of these
consumers so that’s harder to establish
a lot more expensive and take a lot more
time to get to start up now it’s our
survival mode compared to if you are
selling the business so again your
longer-term goal may be to sell to
consumers but i try to reject my
business more a little bit at the
beginning to try to sell the businesses
try to get that recurring cash flow
coming in and then you can expand out
your model from there so it’s not the
usual model I guess but if possible
you’ll find that you’ll get more money
coming in on an ongoing basis and you’re
going to get no referrals from them you
might will do more business internally
through other departments at that
company so it’s a great way to be able
to establish yourself if you can and get
to that survival point that we’re all
looking for
you
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