As you might know, we at Bloomdocking are constantly researching and learning about the knowledge industry so we can share with you the latest strategies and trends that are prevalent today. Earlier this year, we bought an online course about how to build a membership-based business and have recurring income month after month.
As part of this course, we attended a three-day virtual live event where we learned a ton, so we want to share the top three things we learned from the weekend and share with you the actions we are taking as a result. You’ll start to see these actions shape the future of Bloomdocking, and we hope you’ll be able to apply them to your own business journey too!
We are both strategic thinkers—we think broadly and can envision an entire plan from beginning to end. This is hugely helpful when planning out large pieces of our business, but it can also be our downfall. Simple tasks can be more difficult for us, even as we can handle a large and complex process.
After seeing so many entrepreneurs start a business with a very simple membership, we realized that our scope is too big. We need to start smaller.
To pick that smaller, simpler piece, we went back to a point that Stu brought up over and over: To have a successful business, you need to get good at one thing and be known for it. Stu’s thing is memberships. But we needed to find our one thing to focus our efforts on.
So moving forward, instead of trying to capture the whole process of starting and running an online business, we are going to focus on a crucial piece of starting a business: Taking an idea and making it viable.
Our next big takeaway is that we need to be clearer about the results we are promising and the path our customers will take to get there. This is even more true in light of our renewed and narrowed focus on taking a business idea and making it viable.
You can use a position statement to clearly articulate your promise. The typical position statement uses this structure:
I help [market] with [problem] by [solution] so [transformation].
Essentially, you want to define who you’re helping, what problem you’re helping them solve, how you will help, and how their life will change because of it. In the episode, we give you a few examples of real position statements, so be sure to listen!
Creating this position statement might take a bit of thinking and planning to ensure that you have a clear sense of the path to success that you are offering. Start by defining the start and end points of this path—where will your customer be when they find your business, and where will they end up after using your product or service?
At Bloomdocking, we know our customers are struggling with their business idea. That’s the starting point. The endpoint is having a fully developed business idea that leverages their passions, strengths, and experiences while adding value to customers and generating the desired income. And of course, they should be excited about it too!
How will our customers get from the starting point to the ending point? Well, you’ll have to listen to this week’s episode to find out.
Stories are powerful. They build connections, bring meaning, and inspire and empower people to take action and make a change. In your business, stories can help you relate better to your customers and even entice them to make a purchase.
So first, tell your own story. What do you stand for? How did you get there? Tell your journey and describe more than just what happened. Include how you felt and what you were thinking as different parts of your story took place.
To remember your story so you can tell it best, capture your thoughts, feelings, and actions in the moment. (This is a big tip from Stu!) This makes your story much more powerful and compels customers to take action. You will naturally attract people who think “That’s me!” or “I’ve felt the same way!” This is an invaluable connection to build trusting relationships with your prospective customers.
Next, tell your customers’ stories—or have them tell their own. As Stu reminded us, people buy results. When your customers have results to share from using your product or service, that’s an easy way to show potential new customers just what they can expect!
As you can tell, we learned a lot from this event and it’s pushing us to make changes in how we approach things here at Bloomdocking. Here’s what you can look out for going forward:
Are you an overthinker like us? Tell us what you’re overthinking by sharing in our 20 Hour Work Week Facebook group!
Are you ready to learn about the reason behind the original 40 hour work week and why using technology, experts, and the internet to leverage your productivity to work less hours is so important?
Great! Go ahead and listen. Then leave a comment on our private 20 Hour Work Week Movement Facebook Group to help support everyone in this movement.
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