Video Transcript:
Hey, what's up? This is Jason Drohn. Welcome to lesson two of The Accelerate Training. Today, we're going to talk about starting an online business from the idea we came up with yesterday!
So today, what we're going to talk about is expanding your idea, the idea that we talked about, the idea that we arrived at yesterday, expanding it into what I call the offer framework. So the offer framework is kind of a... it's a mix between your customer avatar and a mix between how we're going to provide services for them or how we're going to train and educate them. So what we're going to talk about today is a mix of marketing avatar, and it's a mix of the outline, and it's a mix of creating offers.
So we're going to do a lot of work today toward starting an online business... And it's all going to be customer-centered or customer-centric right now in this session. Tomorrow, we're going to talk about actually creating the product, creating the course, the coaching program, the mastermind, or whatever. We're going to talk about actually creating that thing for them. But today, we have to figure out what it is we're going to be creating. So, where we're going to start is with this idea of basically figuring out what our prospects or what our customers, what our clients need from us to be successful. That's the baseline, the base of the offer framework, are you have to answer the question, what is the best way to get the result, the transformation, that my clients want? What is the best way to help them arrive at that?
Because at the end of the day, the offer you sell when in starting an online business, as we talked yesterday, you need to solve a problem. So that is what people are searching for, that is what you're providing. You are providing the ability for somebody to solve a problem based on your knowledge, based on your experience, based on your products, based on your services, based on your help. You're giving somebody is the ability to solve a problem in their life. Now, that might be wealth, it might be losing weight, it might be relationships. There are lots of different things that people need help with. But at the end of the day, that's what you're doing, you're helping people. That might just be providing entertainment, but you are helping somebody, and you're transforming their lives in some way. You're having some sort of an effect. That's what people are paying you money for.
So what we need to answer though is, how best can we make that transformation in their lives? That's fundamental in starting an online business right now... What is the best way to get the result for them in their lives? So there's a lot of different ways to do that. Now, originally when we started putting this course together or putting this training together, we went the digital product route. So whether you're creating an ebook or a video course or an audio course or a coaching program or some sort of service, then they all follow this general framework. But since then, we've added consulting, we've added software, we've added mastermind groups into this mix because really, all of those things are extensions of the same. In every case, in every scenario, we're trying to transform somebody's life. In somebody's life.
So the offer framework relies on how we can best do that in starting an online business! We also need to figure out who that someone is. So that's where we're going to start. Basically, in figuring out who your person is, who your customer, your avatar is, then we need to answer the questions like, we need to figure out who they are, where they live, what do they look like, how old are they, what kind of a family do they have, when do they wake up in the morning, how do they dress, where do they work? Do they work in an office? Do they work at home? Everybody works at home now, but... So we need to put an idea together of who that person is.
The best way to do it is really to come up with that avatar and then name that person. So name them, their name is Bob or Brenda or Buddy or whatever, and that is the person that we're writing for, that is the person who we're trying to help. So once we come up with that name, once we come up with that avatar, then putting together the solution for them is not all that complicated. I like to think of this is as, we work hard, we think about something hard once and then all the thinking has been done. So basically, we just need to fulfill on this thing. One of the best ways to do it, one of my favorites is to go and mind-map a course. And in doing this, we think hard once about starting an online business and then the rest is just execution.
So one of the examples that I got was... Here we go. So I'm going to go ahead and share my screen. So we're going to share a window. Okay. So I like to use a piece of software called MindMeister. MindMeister is mind-mapping software. I'm just going to get this out onto the screen here. So MindMeister is mind-mapping software. Great stuff for basically putting together some rather complex ideas and doing the thinking once, as I said. So in coming up with the offers for what it is you're doing what we want to do is we want to start in the middle.
So we are going to create a new mind map. Now, once a new mind map is created, then we have the center. So we know who we're going to be marketing to, we're going to be marketing to Bob or Brenda or Buddy, we have them in our mind, and we know what it is we're going to solve because yesterday we talked about... We did some business idea generation. Today, we're starting an online business - or at least getting it fleshed out!
We looked at keyword phrases and we tried to figure out where the holes were in the market so that we could then fill them using our expertise. So what we're going to do here is we're going to put together the framework for our solution, whether it is a course, whether it is a coaching program... We're going to talk about that in a minute.
Once all this is built, we're going to talk about some of the modalities behind it. Because really, it's dependent on price and complexity. So, one of the messages that I got in Facebook Message was a recording studio, so a DIY recording studio. One of your fellow Accelerate members just did a... just put one in their house, and there were video recording and audio recording, same thing. So, studio. All right. So they were wondering if they could put together a video product on putting together a DIY recording studio in your house, which is awesome and timely, and I wouldn't mind having one because I have a webcam and...
So the idea was A, can you put together a course for a recording studio? And the answer is yes. And then B, is there a way to upsell people? What are some of the monetization strategies for this DIY recording studio? After all, we're starting an online business to make money, right?!
Well, you can sell your course, of course, of course, but you can also sell affiliate programs. You can sell coaching, you can sell pick lists. So there are lots of other ways that you can monetize this DIY recording studio. But what we're going to do here is we're going to put together, we're going to brainstorm what a course would look like. I encourage you to do this with your idea too. It doesn't have to be with fancy software, you can do it with a piece of pen and paper. It's really up to you.
So recording studio. Now, we are going to add our first layer, our first set of... our first layer of modules here. So generally, the first module, module one, is always going to be a discovery module. So discovery is always the first lesson in starting an online business.
So in discovery, you try to figure out what you don't know. Do you know what I mean? So, the discovery of a DIY home recording studio is going to be, what room are you going to put it in? How big? Let's just start filling this in. So room and space considerations. We're going to desks, furniture, and then... Let's see what else. What else are we going to need from a DIY recording studio standpoint? We're going to paint any sort of demo if we need to do anything to the room.
So the discovery is all of the things that we need to do to make room for the DIY recording studio. Now, the next module, I think, is probably going to be something related to... I know it's going to be something related to equipment. So we want to make sure that we have the right equipment. So for the video, we're going to need some video cameras, we're going to need some mics, we're going to need some stands, we're going to need some... probably that eggshell kind of stuff that is on the walls, the noise deadening stuff. So, noise deadening or sound deadening or sound dampening, so that it's not echoey. But that's all going to be in the equipment category.
And then we're probably going to need another section that is software. Because you can't have a recording studio with just a bunch of components anymore, you're going to need some sort of software. So I think Logic Pro is one, audio software, might be video. So, Final Cut Pro is a software video tool. The streaming that I'm doing right now is StreamYard, so maybe there's... that you need to do some streaming out of the DIY recording studio. I'm just going to say streaming just for... There's a SlingStudio, which I believe is a video appliance that you can hook up some mobile phones and stuff too.
All right. So we've got some software, some hardware considerations there. Let's see. Now, how about storage? I don't know, I'm not the DIY recording studio person, but... So here, we're going to need some files for hard drive space. Let's see. We're going to need probably a server. So there are lots of things that we can teach about in coming up with this idea for DIY recording studios. So what's important is that you have four or five modules, and you can kind of walk through these. This ends up being... Discovery is the first module, and then equipment ends up being the second module, and then the software is going to be the third module, and then storage is going to be the fourth module. And then the fifth module might be...
Let's see. If you're going to be recording, you're probably going to be sending that music somewhere or those videos somewhere. So maybe this is... The last one is publishing. So where are you going to publish the files to get paid may be or how to put those MP3 files or whatever on Spotify, so that you can make money per stream or whatever. So it's just one example. Now, let's go over and look at a previous mind map that I did for the last course that we put together. So let's see, there's one for sales funnel. This rapid product creation one is pretty cool. It's very timely for this one too.
So this is a mind map that is just a very, very, very quick course for starting an online business that I created a long time ago and then I just updated it, but I haven't done anything with it yet. So basically, it's called rapid product creation, and we start with an idea. So we survey a list... It's a very, very focused course. If you have an email list, you can survey the list, then you can go through and ask the audience what they need more of and then figure out what's hot in the market. And then module two is your record. So you do a live call, and you do either audio or video recording, and that ends up being a coaching call. Then you convert that material into email copy, blog posts, sales copy, all that stuff, and then you make the offer, the sales page, thank you page and payment button, very, very simple, little tiny two-page funnel, and then you do some followup.
So this is a quick hit strategy for starting an online business. But what I was able to do in thinking through this is now I can say, okay, module one is going to be the idea. And then we're going to survey the list and then we're going to have four or five slides talking about the audience, and then we're going to talk about what's hot in the market. So being that all of the thinking has been done, I can create this course super easy and super on the fly. So that's the idea of putting together the roadmap for what it is we're going to create. Because the next piece of this is figuring out how we're going to sell it. So this, right here, could be a course, it could be a coaching program, it could be a five-week workshop. The question we have to ask ourselves is, how are we best able to get the transformation in somebody's life? How are we best able to teach this thing so that they can move forward after going through the product or the book or the coaching program or whatever and apply it in their life?
So this is our sales phone course. It's phenomenally huge. Super huge. There's paid traffic, there are webinar sales funnels, there are FQLBSL funnels. The idea with this is, yes, it is a course, yes, it is five hours worth of video, probably 60 videos in length. It's a very big course. It's a very expensive course. But we're also able to move through it with mentorship. So what we can do is we can sell the course, and we did, we sell the course every day, and people can go through it at their speed, or we can separate this as an eight-week course.
We can go through and put somebody through each of these modules so that they can learn it, experience it, implement it, ask questions, and they can get the transformation that much faster. For us, we get to charge a little bit more money, for them, they get a much higher satisfaction, and they're able to move through it and get the result more quickly than what they're used to. So that is a huge, huge, huge benefit. When you're looking at your ideal customer, your Bob, who is going to be buying your thing, buying your services, buying your product, your information, your expertise, now, what is it they need to... What do they have to do to get the result the fastest?
So, to that end, we put together a little framework for the offer framework for starting an online business, put together a little... It's a two by two spread that walks through how... in terms of pricing, where the pricing needs to be, and then also what kind of sales funnel you need to implement to get this thing live. So let me share it with me... I had this shared already, but it seemed to break. Okay. So, here we go. I'm going to pull this up on my iPad and then you get to check it out here. All right. So it is sharing. Okay. So I'm going to stop this screen, got to see some of the walks through there, and then I'm going to share the entire screen. All right. So I'm sharing the entire screen. Then I'm going to drag this guy up.
You've seen this grid in some of my promo videos. I've been talking a lot today. It's a two by two axis. The reason I love this thing is that it was patterned after something that Steve Jobs did. So Steve Jobs, when he got fired from Apple the first time he left and Apple embarked on creating... They had over a hundred different products that they were building, very similar to like GE at the same time. So Steve Jobs went, ended up founding Pixar, the whole deal, ended up creating an operating system and all kinds of other stuff. But ended up coming back to Apple, and he got the entire advisory board together and said, "You have over 100 products. What is a priority right now?" And everybody in their respective divisions thought their product was a priority.
He put this kind of two by two grid up on a whiteboard and said, "There are only four things we're going to concern ourselves with. We're going to concern ourselves with basic desktop and mobile, and then consumer and pro." And that informed their decisions for quite a few years after that. Then they got into, obviously, iPhones and iPads. Even iPhones and iPads, they have, still, this same matrix. Now, even with iPhones, they have the pro models. But at the end of the day, this matrix is really what we drive all of our sales to funnel decisions through. When thinking about your end users, thinking about your avatar, thinking about the products and the offers that you're going to be making...
We built the mind map out that works through what is going to be in this offer. Now, what we have to think about is, first of all, how much is it going to cost? So your end-user is going to... Is it going to be $1,000 product, is it going to be a $200 product, is going to be a $50,000 product? What is the price going to be for them to achieve that transformation in their life? What do they have to pay you? And then we have complexity. So the complexity is, how complex is it? How much do you have to customize the pitch and customize the offers so that they get it? Now, if you're thinking about a $50,000 real estate mastermind, well, it's 50 grand. You're going to have to...
First of all, you have your price here, so it's more expensive than not, and then you have your complexity, which is on this curve. It's going to be a complex offer because you have to take into consideration where they live, what they're into, what they invest in, how much private money they have, or what are the relationships with their banks or whatever. So it's going to be a complex offer, which is going to put them in this wheelhouse. So you're very complex and the price is high. Now, the legendary funnel, as you can see here, is an automated webinar with an action plan called the pitch, as the call to action.
So to sell this, we need to have the offer in place, we need to know what it is we're going to teach them, but we also need to know how we're going to deliver it, and then we need to sell it on a sales call. So yes, we're going to be able to get them investing in properties, it's just going to take a little bit of work to get them there. Do you know what I mean? Now, if we are selling a free book, a free plus shipping book, let's say, 4.95 cents, we're going to put together a book that is 120 pages. That 120-page book, it's a relatively low ticket offer.
Nothing is going on down here. The price ends up being on the lower end of the spectrum. You can't get better than free. You can't get cheaper than free, I should say. And then it ends up being a pretty easy offer to understand. It's a free book. It's a free book on real estate investing, let's say. It has some strategies on no-money-down deals or it has some strategies on fix and flips or whatever, but it's a free book.
So here we have this... we're in this wheelhouse, this igniter funnel wheelhouse, and the offer ends up being a VSL funnel with upsells. So here, what we're doing is we're sending them, through a sales video, a prompt, and they watch some of the sales videos they buy, they process their card through an order form, and then they're marched through an upsell sequence. So the first upsell is typical $37, and the second upsale might be $97. So we move them through the sales funnel that way. And then we have our outlier funnels. So here, we have a mid-price product... I'm sorry, an upper-end product that is not complex.
So a multi-video launch funnel is going to work well for this upper left quadrant. And then here, we have an automated webinar funnel that is sold with an add to cart button, so sold directly to an order form. So at the end of the day, that's really how we sequence our sales funnels, it's how we put offers together, is not only do we figure out what we need to teach, but we also figure out how much we need to charge for it, what the complexity is to get somebody to purchase that offer from us, and then we build everything as it relates to that.
So tomorrow, we're going to talk about actually recording and fulfilling and selling... recording and fulfilling and capturing information. Because at the end of the day, you want to sell something online that is one too many. So even fulfilling services is great. You can spend time fulfilling services with a one-on-one person, but do you want to have a big team of people? Do you want a small team of people with digital fulfillment? Do you want coaching products and offers and everything that requires a lot of time and energy to work with? So there are lots of questions in regards to how your business is set up and how you're going to be digitizing your product.
But at the end of the day, what we want to do is we want to create high leverage activities. So if we can put some of this together as video the video products or books or reports, or if we can offload some of that education, some of that knowledge on to something that you just hit a play button and then you can fulfill, you can support that on the backend, then it ends up being a great deal for you. You can charge a little bit more money for it, because you have a video course plus a coaching program, and the two things end up working well together.
So tomorrow, we're going to talk about recording audio, video, capturing information, fulfilling membership sites, all of that stuff, kind of the techie recording, editing stuff. And then after that, we're going to get into... we're going to revisit the sales page and the marketing, and that's going to be Thursday and Friday. So if you have any questions at all, send me a message in the group here, just let me know, and I will be happy to answer it, and I will talk to you soon. Right? Thanks. Bye.