The 4 Questions Every Entrepreneur Must Answer (Part 2)

Today we’re going to discuss the last two questions so you have a complete business plan ready to execute.

Yesterday I wrote a letter to you – speaking to readers who had NOT started a business yet.

I gave you two of the four questions every entrepreneur needs to answer before starting a business.

You can read that letter here.

If you did the work, then you should know two things.

  1. What marketing you want to serve.
  2. What product or service you want to offer them.

Today we’re going to discuss the last two questions so you have a complete business plan ready to execute.

Question 3: How are you going to reach your market?

This is a more difficult question.

Will you use social media?

Direct mail?

Billboard advertising?

Google/Facebook/LinkedIn Ads?

Blogs & Articles?

Trade Shows?

Local Events/Networking?

This is the step where most dreams die.

It’s fun to think about who you’re going to help…

Imaging the thousands of people you’ll serve with your product or service.

What doesn’t seem fun is having to go out and find people who would be a good fit for your product and convincing them to buy.

Just like it’s fun to imagine sitting around the campfire eating steak and potatoes.

What’s not so fun is waking up at 3 a.m., covering yourself in deer urine and sitting in a tree stand for 4 hours – hungry and cold – while you hunt the deer you’ll use to enjoy that meal.

But that’s exactly what separates us from your typical employee.

We not only have the skill to cook a great meal…

We also know how to track, hunt and bring home that meal.

If you don’t want to learn marketing and sales then it’s best you stay hidden under your blanket of false security – hoping someone will always be there to hunt up your dinner for you.

Question 4: What are you going to sell to the people who buy your first product?

“But…I already came up with a product.” you protest.

“Now I have to come up with a second product?”

YES! You winy little wantrepreneur.

Getting someone to open their wallet and give you money is the hardest thing an entrepreneur will do.

It’s also the most expensive.

Once a client has given you money they are 50X more likely to buy from you again.

Yet most entrepreneurs focus all their attention on finding new clients.

But not you.

You’ll already have a second product in mind before you start.

The best way to come up with a second product is to ask…

“What is the new problem my product creates?”

Or, “What is the next step after they get the result from my first product.”

So let’s say you train first-time marathon runners.

Your initial product might be a simple program to prepare them for their first half-marathon.

You can tell them what to expect. What gear they’ll need and even offer a conditioning regimen to make sure they have the best chance of finishing.

Your second product would be a full 12-week conditioning and nutrition program for those who’ve committed to running their first marathon.

People who are fully committed and need the support and guidance of someone who’s already done it.

The first product is for the dabbler who’s interested enough to want to learn more.

The second is for the 100% committed athlete who’s looking for serious coaching.

That’s a solid product combination.

And I’m a guy whose motto is, “Run only when chased”.

So here’s your mission today…

Answer the last two questions.

Because tomorrow at exactly 9:45 a.m. I’m going to send you an email with a VERY time-sensitive offer that’s going to help you put your new business plan into action.

The offer will be good for exactly 24 hours and not a second longer.

So make sure you keep an eye on your inbox for that email.

Subject line: Time-sensitive offer for serious aspiring entrepreneurs

Until tomorrow,

Jason

P.S. If you know any entrepreneurs or copywriters who would enjoy this letter, just send them an email with this link: https://jasonstapleton.com/em/

P.P.S. Your e-mail address will never be shared. And if you ever want to unsubscribe, just let me know and I will vanish from your life like a shadow in the dark.

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