Things I'm Learning in Business

List three brands you admire. BRAND #1. Downeast Clothing BRAND #2. Trim Healthy Mama BRAND #3. Rare Faith BRAND #4. Calm What emotions or feelings immediately come to mind when you think about each of those brands? How do you feel about yourself when you’re experiencing that brand? In other words, when you’re on their website, purchasing from them, reading their emails, using their product or service, talking about them to other people or dealing with their customer service - how does that brand make you feel? Downeast Clothing- I feel happy and like I'm going to be treating myself to stylish clothes and modest fit. I feel like it's premium, yet affordable. I feel like the staff is always helpful, friendly, and knowledgeable. I feel feminine and playful and beautiful when I wear their clothes. I feel like I made a good purchase or spent my money well. Trim Healthy Mama- I feel like I'm taking care of myself. I feel fun and feel like I've finally found a way t...

Think of your ideal customers. The people you love to serve. What do they have in common? Members of the Church of Jesus Christ of Latter Day Saints Believe in Jesus Christ and try to be like him Love their families Accept and Receive Callings Understand they have a purpose on the Earth Understand that they can have eternal relationships Understand that they must repent to become like Christ and live with God again. They are looking for opportunities to serve and grow. They feel like they have a lot on their plates. They are trying to find balance without stimulants. They are trying to do their best. They have faith in the Savior, Jesus Christ. They believe that they can pray and receive answers. They have friends who are members and non-members.. They have family members who have left the church. They have family members who have joined the church. They are concerned with their posterity and ancestry. They have copies of the scriptures and tools to study and grow th...

Profit Picture: Which products or services are the most profitable? Not necessarily financially, but emotionally, and spiritually too. If something makes money but your heart's not into it and it creates a lot of stress for me and my team, it is not sustainable. Will this endeavor be enjoyable? Serve my people? Follow my values? And make Money? All business is, is an exchange of value, you provide value and in exchange, money is given, which has value. Sweet Spot-What you most want to deliver meets with what your customers most want to buy. "Your greatest vocation in life comes from where your joy meets the world's greatest need." -Frederick Beauchner Strengths are things that come so naturally to you that when you do them, you actually feel stronger, you feel energized, you feel alive, and simultaneously you want to do for other people. What's my customer's dream scenary when interacting with my product? What would make them say, "Oh my goodn...

How much should I charge for my product or service? Big Picture Positioning: You never price your product in a vacuum. You need to look at the big picture of your business and see where this fits in. Is this an entry level offering that will lead into higher priced offerings or is this your premium, flagship product that you want to charge a high price for? Broader Positioning: How do you want to position your whole business in the marketplace? Do you want to be like Walmart that has super high volume and low low prices or do you want to be like Bergdorf Goodman that has smaller volume and higher prices and fewer customers? Quantify the results you're promising: Remind people of the value. What's it worth to you to sleep well over the next three year. Deliberately translate the products or services you're offering to things with real value, time, love, money, or health. Ask yourself, What result are you helping people achieve and how can you translate that value into mo...

GET CLEAR What do you want? financially, what do you want your schedule to look like? How does running your business look? What do you want from this program? What do you want from your business? What do you want from your life? I want residual income. I want to make money while I'm at the doctor's office with my friend, while I'm helping by reading to kids, by serving in the school, while I'm playing with my kids. I want to impact millions of lives. I want to be able to serve on many different levels. I want to affect generations. I want to take the summers off. I want to schedule my own time. Why do you want it? Purpose has power. Purpose creates drive. Everything is Figuroutable if you have the what and why figured out. Reasons come first, answers come second. Have a purpose driven business. Consciously and Intentionally make your business about more than just money. Use your business to create change for people, for the community, and for the planet. ...