4 your profit playbook tủ tài liệu bách khoa

How Top Performers Guarantee Success Before They Ever Build a Product 60-SECOND RECAP ••••••••••••• ~ IDEA MAPPING: Digging up your "gold nuggets" and estimating demand using the Demand Matrix ~ THE IMMERSION STRATEGY: Doing deep research and getting into the mind of our market ~ AT THIS POINT, ASK YOURSELF: "Does this interest me? Is this an area where I can see myself in the long run?" If YES, great! If NO, don't worry Go back to Idea Mapping, choose something else, and start again HAT YOU'LL LEARN IN THIS LESSON ••••••••••••• reasons why you should WAIT before building a product-and what we instead of jumping right in How to "front-load" your work so that every hour you spend now saves you 10 hours of headache later How to transform your high-level concepts & research into an organized "Playbook" of concrete, actionable tools ZERO TO LAUNCH: HERE E ARE ••••••••••••• We have a high-level topic in mind and we've estimated its demand at a basic level We've started to immerse ourselves in our market (and we'll continue to so) It would be tempting right now to dive straight into product creation But we have a different approach that will ensure you're much, much more profitable THE TYPICAL PATH FROM IDEA TO EXECUTION ••••••••••••• Come up with brilliant idea Start creating Product REASONS HY YOU SHOULDN'T CREATE A PRODUCT YET ••••••••••••• What if you spend months creating the product and nobody buys? IT'S RISKY Anyone can create a mediocre product by "jumping right in"only to see those products stop selling soon The best products last for years Spend the time THE "NOW WHAT?" EFFECT IT'S SHORT-SIGHTED Let's say you finish building your product: How you get customers? Why aren't people buying? How you figure out what's wrong? DON'T LET THIS HAPPEN TO YOU! My first hardcore product launch I finally launched my first premium product ~o e a I had a soft launch over at with my real estate gu·de in he summer l sold a few copies and it was a coo earntng experience From here I decided to cons me every pjece of literature on the internet on how to launch an eBook I paid 97 for the uHow to Launch The**** Out of Your e~aook" guide I worked on this product all summer I spen a of my free t ime on research (because real guides need real research), and learni ng o i mp ove my writing style._ ow much did I inv st in c~ a i g my o product? l • look t costs $97 In eBook $400 in the design Tim o writ th~e book (m ny on h ) T ime to write he ales page ,000 word s too m ny hours) T ime to write guest posts RidJcu lous amount o t i ~me to promote h eBook ia email forums and witter Wha dlid I earn? How mu money ~did from is super helpful guide? conserva ive w[th my estimates I co ld n t seep the eek before the launch The night before I went to bed an hour befo e the launc As I was settli 91in for the nigrnt I wrote on I was my planner a conserva ive f igure of 20 boo sales f igured that between guest posts on popular blogs, Twit 1e r followers, and my 00 RSS subsc( bers t I would EASILY sell 20 woke up and realized that r had r ke 15 emails in inbox I was excited because thought th1s was e~junkie notifying me of al l of m sales ooooo ! ope just the usual crap from gues posters offering me a 300 ord pos Ge a life ~ How many sales did I g1et? ZERO Well to be specif ic it' s in he nega ives as you can tell from my start p costs YOUR NE STRATEGY: FRONT-LOAD THE ORK ••••••••••••• Doing as much hard work as possible in advance so you can save yourself a disproportionate amount of time & effort later FRONT-LOADING: "Give me six hours to chop down a tree and I will spend the first four sharpening the axe."- ABRAHAM LINCOLN HAT FRONT-LOADING DOES ••••••••••••• Most people follow a "build it, then figure it out" model But I recommend approaching this differently By front-loading the work, you'll get: ~A full list of your market's actual problems-with the exact words they use-before you ever started writing content ~ Relationships with bloggers, content prewritten, and guest posts lined up before you ever set up a website ~ An audience of eager buyers clamoring for your material before you ever build a product HO TOCREATE YOUR PROFIT PLAYBOOK ••••••••••••• Based on your earlier research, create a list of the following items: Potential audiences Fishing holes Burning pains Crunchy solutions Products to sell YOUR PROFIT PLAYBOOK: AN EXAMPLE ••••••••••••• Let's say I'm thinking about creating an online course about social skills I'm excited about this idea But rather than diving in head-first, I'm going to front-load some of the work Here's what that might look like POTENTIAL AUDIENCES ••••••••••••• Note the language: Potential audiences Not who you want to work with, but ''WHO WOULD BE INTERESTED IN THIS?'' There are a few obvious choices: Introverts, shy people, socially anxious people: But go deeper: - Job hunters who want to nail that interview - Employees who want to move "up the ladder" - Men who want to get better with women (and vice versa) - People who just moved into a new city and want new friends DON'T MAKE THIS UP! ••••••••••••• , You've already done the research-now let's just crystallize it , Of ALL the people who could possibly be interested in social skills, who would want it the most? , Think beyond demographics: What's their mindset? , For example: Yes, IWT is for young people But it's really for people who are "tired of the same old advice" who also "want to live a rich life" FISHING HOLES ••••••••••••• Where these people congregate? Where might you find them (and eventually bring them back to your site from)? Social media? Yes, but go deeper Whose YouTube channel? Whose Facebook page? Who would you want to retweet your material? Google: What are the actual search phrases those audiences would use? ("How to make small talk"?) Websites they visit: Lifehacker, Nerd Fitness, Kalzumeus Forums they frequent: Hacker News, Reddit, OKCupid HAT IF YOU CAN'T COME UP ITH ANYTHING? ••••••••••••• During this exercise, you'll often identify gaps & holes in what you previously thought was a great idea That's a GOOD thing! Better to identify the red flags now than months down the line when it's too late You have two options: Either more research, or take a step back and re-evaluate your idea Remember this: Most people would rather hide their head in the sand than consider "giving up" on a bad idea BURNING PAINS ••••••••••••• What burning pains does your audience have? Questions they ask? WHAT DO THEY TALK ABOUT BEHIND CLOSED DOORS? These are incredibly valuable I use them to create blog posts, Ask Ramit videos, etc , Tip: Use the actual language you pull from your research! This is BS: "I want to build social fluency" , This is real: "Sometimes I hate talking to people unless we can cut the BS and talk for real" MORE EXAMPLES OF BURNING PAINS ••••••••••••• More examples of burning pains "How I stop being so shy?" "What I when I run out of things to say? It happens every time there's this awkward pause, and it's usually all downhill from there." "I want to talk to her, but everything I come up with just feels so lame Of course, minutes later she's gone and I'm kicking myselffor being such a wimp." Hint: If you're having trouble finding burning pains, you might want to take a step back and re-evaluate demand! CRUNCHY SOLUTIONS •• ••••• •••••• Now that you know the who, what, and where, let's talk about HOW you can help solve their problems What tactics, techniques, or strategies can you come up with related to your topic? This takes some digging and introspection, but it's my favorite step! TIP: START ITH THE ''HO '' ••••••••••••• Examples: How to brag about yourself without sounding cocky How I keep in touch with people even when I'm busy How to nail a job interview you're unqualified for How I started approaching women Later, you can even give your techniques proprietary names (E.g The Briefcase Technique, Closing the Loop, Disparagement-to-Curiosity Technique) PRODUCTS TO SELL ••••••••••••• Fast forward a year Let's say you're now an up-and-coming authority on social skills with a nice list of 1,000 subscribers Once you've built an audience, identified their pains, and created your crunchy solutions, you have an implicit invitation to create high-quality material-which they'll happily pay for , You can maximize goodwill-and revenue-by creating premium material EXAMPLES OF PRODUCTS TO SELL ••••••••••••• A basic social skills ebook ($47) , A short job-interviewing video course ($197) A 1-on-1live social skills teardown on Skype ($297) , A premium-level executive soft-skills course ($997) A social-fluency weekend workshop ($3,000) HAT A PROFIT PLAYBOOK DOES ••••••••••••• Remember, most people start with an idea and immediately begin building it THAT'S THEIR ENTIRE PLAN! But with a Profit Playbook, you now know: ~ Who to reach ~ Where to reach them What problems they're facing What solutions you can offer them Multiple ways you can potentially monetize You're way ahead, and you haven't even built anything yet! YOUR PROFIT PLAYBOOK: KEY TAKEA AYS ••••••••••••• Mediocre business people jump right into product creation The very best are methodical and deliberate Don't fall into the trap of rushing into product creation Instead, embrace the concept of front-loading: Do the hard work now so you can execute flawlessly later Your Profit Playbook: Simply preparing a few key items in advance can help you save time, identify risks, and ensure you're building the right thing! ACTION STEP • Create your Profit Playbook by coming up with AT LEAST five answers to each question Time: hours (work;sheet provided) Potential audiences Fishing holes Burning pains Crunchy solutions Products to sell I'll see you in next week's Vault! ... skills ebook ( $47 ) , A short job-interviewing video course ($197) A 1-on-1live social skills teardown on Skype ($297) , A premium-level executive soft-skills course ($997) A social-fluency weekend... I call this your PROFIT PLAYBOOK , and it's a powerful tool that will save you tons of time and energy later HO TOCREATE YOUR PROFIT PLAYBOOK ••••••••••••• Based on your earlier research, create... building a product-and what we instead of jumping right in How to "front-load" your work so that every hour you spend now saves you 10 hours of headache later How to transform your high-level concepts