The Blueprint To $5,000/Month As A Beginner (2024)
Résumé
TLDRThe video features an entrepreneur sharing his 10-step blueprint to build a business generating $5,000 a month, specifically anchoring it in launching a clothing brand. He details his steps: conceptualizing an idea, securing a unique trademark, determining a meaningful purpose, identifying a target demographic, designing a product, building an online store, organizing distribution, creating effective marketing strategies, launching the product, and managing financial growth. The speaker stresses the importance of retaining profits for reinvestment, understanding your cost structure, building a community for organic growth, and setting ambitious growth targets, highlighting his own journey of launching a clothing brand to fund education through profits. He emphasizes the value of starting with high-quality products, leveraging partnerships, and making strategic investments in marketing and infrastructure.
A retenir
- 🚀 Launch with a clear concept, not just an idea.
- 📈 Retain profits for continued growth.
- 🎯 Know your target demographic and design for them.
- 🛍️ Build an online store, using platforms like Shopify.
- 🤝 Leverage partnerships for cost savings and distribution.
- 🗝️ Ensure product-market fit through feedback and iterations.
- 🎨 Design a brand with clear mission and purpose.
- 🔍 Understand your cost structure in detail.
- 💡 Start with high quality, scale as demand grows.
- 📊 Set ambitious targets to drive growth.
- 🤗 Build a loyal community for organic marketing.
Chronologie
- 00:00:00 - 00:05:00
The speaker introduces a business blueprint for earning $5,000 a month. Emphasizing their extensive experience, they aim to provide free knowledge on business establishment, using a clothing brand as a case study. The video's sponsor, Shopify, will help illustrate the 10 steps from idea to growth. The speaker advises grounding a business in a 'concept' rather than a flimsy 'idea', highlighting trademark importance and urging a purpose-driven approach.
- 00:05:00 - 00:10:00
Having conceptualized a clothing brand called 'What's Your Dream', the speaker stresses the need for a purpose that extends beyond profit. Their purpose is educational reform, with profits supporting dreams, encouraging both employee motivation and customer purchase. With the concept in place, securing all digital handles for longevity is advised before moving to partner or supplier engagement, ensuring high-quality standards and creativity in sourcing connections.
- 00:10:00 - 00:15:00
Finding suppliers and partners is pivotal in any business, with a focus on quality products. The speaker shares personal anecdotes about unplanned connections leading to business opportunities, advocating resourcefulness and ingenuity in securing initial stock or supplier credit, even proposing supplier equity stakes. Starting from small orders, like 200 hoodies, he advises profitability before scalability, ensuring financial viability before expansion.
- 00:15:00 - 00:20:00
A small batch production strategy begins with limited stock, emphasizing starting small to avoid overwhelming initial steps. The speaker discusses the importance of knowing your target demographic, using the example of 18-30-year-old dreamers for this clothing brand. A distinct demographic approach aids in aligning product design to target tastes, affecting the specificity and success of sales strategies.
- 00:20:00 - 00:25:00
Product design evolves quickly based on initial feedback. Despite initial negative reactions, quick iterations led to better alignment with market expectations, demonstrating the need for flexibility and listening to consumer preferences. Learning from feedback, the speaker emphasizes the 80% rule for quick market entry instead of waiting for perfection, securing product-market fit before scaling production.
- 00:25:00 - 00:30:00
Creating an e-commerce store with Shopify is presented as a straightforward process, utilizing themes and descriptions to attract buyers while keeping costs down. Early stage distribution planning leverages small-scale strategies, including community and family networks, and the use of Shopify for online sales. Authentic partnerships and events serve as launch platforms, seeking to build brand awareness and initial market penetration.
- 00:30:00 - 00:35:00
Distribution strategies encompass both traditional and innovative approaches. The speaker highlights the role of strategic partnerships and social media as powerful, low-cost distribution channels, advising against reliance on paid ads initially. Instead, influencer collaborations and strategic partnerships are recommended, using shared missions to engage audiences and entering joint ventures that offer mutual benefits.
- 00:35:00 - 00:40:00
Marketing efforts focus on authentic connections, community building, and leveraging influencers and strategic partners for brand promotion. Emphasizing storytelling, the speaker encourages interactive and memorable launches to engage audiences. He advises flexibility and creativity in attracting both media and consumer attention, using unique strategies like flash mobs or special events to enhance brand visibility and interest.
- 00:40:00 - 00:45:37
Sales strategies extend beyond marketing, focusing on customer retention and upselling. The speaker stresses ongoing relationship-building, suggesting surveys, referral programs, and tailored offers to maximize each customer interaction. Financial management involves clear understanding of costs and reinvesting profits into growth, urging disciplined fiscal strategies to ensure scalability and long-term business success.
Carte mentale
Vidéo Q&R
What is the 10-step blueprint for starting a business?
The blueprint includes concept development, securing a trademark, defining purpose, targeting demographics, product design, building an online store, distribution, marketing, financial management, and setting growth targets.
Why start with high-quality products?
Starting with high quality establishes brand reputation and allows for easier scaling down in price, leveraging perceived value.
How important is securing a trademark?
Securing a trademark is crucial to protect your brand and avoid legal issues once you go to market.
What role does Shopify play in the process?
Shopify offers an easy-to-use platform for building online stores, crucial for selling and showcasing your products effectively.
How can partners help in business launching?
Partners can provide resources, sponsorship, distribution assistance, and even investment to help kickstart the business.
What is the significance of understanding your demographic?
Understanding your demographic ensures you design products and marketing strategies that resonate, increasing sales and brand loyalty.
How do you handle financial management in a startup?
Track all costs carefully, retain profits for reinvestment, and manage cash flow efficiently to ensure sustainability and growth.
What are some marketing strategies mentioned?
Strategies include influencer marketing, strategic partnerships, community engagement, and avoiding paid ads early on.
What is important about distribution planning?
Distribution planning involves identifying effective sales channels and partners to reach your target audience efficiently.
How can a business fund the startup process with limited resources?
Explore options like supplier credit, partnerships, community support, or offering equity in exchange for initial resources.
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- 00:00:01and it's live I just launched a business
- 00:00:03which is going to earn $5,000 a month
- 00:00:05and I'm going to show you my exact
- 00:00:0710-step blueprint so you can do the same
- 00:00:09with any business in my 35 years of
- 00:00:11business I built 19 companies and
- 00:00:13invested in 79 startups and I've made
- 00:00:15more money than I'll ever need I've been
- 00:00:17offered tens of thousands of dollars to
- 00:00:19share this knowledge but instead of
- 00:00:21charging I'm going to give it to you for
- 00:00:23free so sit down grab a pen and a
- 00:00:25notepad and take the next 5 minutes to
- 00:00:28learn what I'm about to teacher because
- 00:00:29if you you can't I've got some news for
- 00:00:31you you're probably not going to make it
- 00:00:33and thanks to Shopify for sponsoring
- 00:00:35this video this video will cover 10
- 00:00:37steps in total taking from idea to
- 00:00:39revenue to reinvestment and growth so
- 00:00:42let's get started by coming up with an
- 00:00:44idea so the first part of building any
- 00:00:46business of course starts with what we
- 00:00:49probably would call an idea but I prefer
- 00:00:50to call it a concept an idea can be a
- 00:00:52bit flaky and actually have no Direction
- 00:00:54a concept is an actual physical thing so
- 00:00:57in this particular example we're going
- 00:00:59to make a close Ming brand as our first
- 00:01:01step into building a business to be
- 00:01:02honest the process I'm about to give you
- 00:01:04you can learn to use this process for
- 00:01:07any business absolutely anything but
- 00:01:09today I'm going to Anchor it in a
- 00:01:11clothing brand product it's one of the
- 00:01:13top things that people ask me they want
- 00:01:15to launch a clothing brand business so
- 00:01:17let's launch one today for real I'm
- 00:01:19going to actually launch this business
- 00:01:20today using this blueprint to try and
- 00:01:23help you not just hear what I'm saying
- 00:01:25but see how to do it so we've decided
- 00:01:28we're going to do a clothing brand first
- 00:01:29thing we need to decide is what are we
- 00:01:31going to call it now naming a business
- 00:01:33is really tricky and I sometimes say to
- 00:01:35people there's two Frameworks for naming
- 00:01:36a business the first is something
- 00:01:38abstract so think like Google a brand
- 00:01:41new word a brand new thing that doesn't
- 00:01:44exist that makes it very easy to trade
- 00:01:45mark and hopefully means things like
- 00:01:47website addresses are available the
- 00:01:49other way to go is something that
- 00:01:51matters to you it can literally be what
- 00:01:52we call what's written on the tin bake
- 00:01:55beans so if you're selling baked beans
- 00:01:57it's bake beans written on the tin and
- 00:02:00that's the brand right you can keep it
- 00:02:01really simple for this particular
- 00:02:03example I'm going to run with something
- 00:02:06called what's your dream because that's
- 00:02:07my tagline most of you probably know
- 00:02:09that for new viewers here maybe you
- 00:02:11don't I go into the street and I ask
- 00:02:13people what's their dream I've even got
- 00:02:14a book with the title what's your dream
- 00:02:16in it so why not anchor your business in
- 00:02:20something that matters to you now I've
- 00:02:21seen businesses get launched with
- 00:02:23people's personal names so David Oggy
- 00:02:25launched one of the largest agency
- 00:02:27businesses in the world he named it
- 00:02:29after his surname name David ogy so now
- 00:02:31ogy if you ask anybody the word ogy they
- 00:02:33think of the agency but of course that
- 00:02:34was once his name so you can anchor it
- 00:02:36in something personal like your name you
- 00:02:38can anchor it in a word you can just
- 00:02:39make up to give it a meaning or you can
- 00:02:41do what I'm going to suggest that we do
- 00:02:43for this particular exercise anchor it
- 00:02:45in something I asked people every single
- 00:02:46day good news is and we're going to come
- 00:02:48on to this stuff a bit later I already
- 00:02:50own the trademark for what's your dream
- 00:02:52trademarks a very important part in this
- 00:02:54first stage you can have an idea I've
- 00:02:56seen many people launch a business on
- 00:02:58the back of an idea but because they
- 00:02:59didn't do a a concept they only did an
- 00:03:01idea they've gone to Market it's
- 00:03:02launched and then they find out it's
- 00:03:04actually owned by someone else so right
- 00:03:06we decided we're going to do a clothing
- 00:03:07brand we' picked a name what's your
- 00:03:09dream we've made sure we own the
- 00:03:10trademark so now why are we launching
- 00:03:13this business it's very important to
- 00:03:15make sure that any business you do has a
- 00:03:17purpose in my opinion that's how new
- 00:03:20businesses are going to beat existing
- 00:03:21incumbents if you think about big Brands
- 00:03:24today that are out there and I could
- 00:03:25name many of them Nike Umbro whatever it
- 00:03:28is your company comptition what is their
- 00:03:30meaning why are they there so I think
- 00:03:33the future of any big business is to
- 00:03:35actually decide what you're going to do
- 00:03:38of your profit what are you going to do
- 00:03:39you going to invest in your people are
- 00:03:41you going to make sure that you back
- 00:03:43sports are you going to ensure that you
- 00:03:45back going into the gym you're going to
- 00:03:46back people eating healthy what is the
- 00:03:48reason your product exists now for my
- 00:03:50real life example that we're going to
- 00:03:52launch today this clothing brand I'm
- 00:03:54doing it to fix the education system I
- 00:03:57want every time we sell a hoodie or sell
- 00:03:59a t-sh shirt whatever we decide to do
- 00:04:01and I'll go through that in a minute
- 00:04:02when we sell them the profit that we
- 00:04:04make after all our costs is going to
- 00:04:06fund people's dreams just like yours so
- 00:04:09I've anchored it to a purpose now
- 00:04:10there's a couple of reasons why that's
- 00:04:12really powerful one it will allow people
- 00:04:14who work with you to get excited about
- 00:04:16the business Beyond just making profit
- 00:04:18we need to make profit so we can pay
- 00:04:19people well we're not a charity we don't
- 00:04:21want to be I think a charity model can
- 00:04:23actually leave you in a hole that won't
- 00:04:24allow you to scale so we're a for-profit
- 00:04:26business that does good now your staff
- 00:04:28will want to work there the second thing
- 00:04:29is is people will probably want to buy
- 00:04:31from you so if you're listening to this
- 00:04:33video right now and you have a dream by
- 00:04:36buying our hoodies buying our tops you
- 00:04:38can fund your dream or you can fund
- 00:04:39someone else's dream and won't the world
- 00:04:41be a better place if we're helping
- 00:04:43people do what they love if we're
- 00:04:45funding dreamers right think of the
- 00:04:47problems in the world that can get
- 00:04:48solved if we actually fund dreamers so
- 00:04:51in this first stage this concept stage
- 00:04:54it's also important to start securing
- 00:04:56all the URLs and website addresses
- 00:04:58because again you don't want to have a
- 00:05:00brand even if you have the trademark
- 00:05:01where you can't control the messaging on
- 00:05:03it so you want to make sure you own the
- 00:05:04X handle the YouTube handle the
- 00:05:07Instagram handle the Tik Tok handle it's
- 00:05:09all free you have to secure all these
- 00:05:11things to make sure that your business
- 00:05:13has the longevity and the ability to
- 00:05:15Market in all levels for free now we
- 00:05:17have a concept we have an idea we have a
- 00:05:19product we have our why we have our
- 00:05:21purpose so now we move on to stage two
- 00:05:23of the blueprint so stage two of the
- 00:05:25blueprint is in the case of a garment
- 00:05:27business is find a supplier right but
- 00:05:29any business you need to find Partners
- 00:05:31doesn't matter what you launch I
- 00:05:32launched a creative agency so I needed
- 00:05:34to find people that were good at
- 00:05:37Creative Design I even partnered up with
- 00:05:39brands that had too much work and could
- 00:05:42give it to us I also partnered up with
- 00:05:44software companies who gave us the
- 00:05:45software so you might need to find
- 00:05:47Partners in the case of a product
- 00:05:48company we need to find the supplier
- 00:05:51who's going to make the product now a
- 00:05:52lot of people will tell me it's really
- 00:05:54hard to find a supplier it's not it's
- 00:05:57really not now the truth is to find
- 00:05:59anything to do anybody to do anything in
- 00:06:01this day and age is hard in general
- 00:06:03because people are busy the good people
- 00:06:05are doing their own businesses the good
- 00:06:07people are busy you have to really do a
- 00:06:08methodical process to get a supplier so
- 00:06:11for example first of all list out
- 00:06:12exactly what it is you need from your
- 00:06:14partner or your supplier be as detailed
- 00:06:16as you can so let's say in the case of
- 00:06:18our particular product launch we want
- 00:06:21high quality hoodies I'm going to get on
- 00:06:22to why high quality is important in
- 00:06:24anything you do doesn't matter if it's a
- 00:06:26product business or not high quality in
- 00:06:27my opinion is where you should always
- 00:06:28start if you look at any successful
- 00:06:30business they start high quality and
- 00:06:32they go down the food chain you look at
- 00:06:33Apple they start with an expensive
- 00:06:35product and they get cheaper you look at
- 00:06:36Tesla they start the most expensive car
- 00:06:38and then they start to do cheaper cars I
- 00:06:40think it's an Untold hack if you want to
- 00:06:43build a really successful big company
- 00:06:45start highend and come down you very
- 00:06:47hard to go low end and come up some
- 00:06:50brands have tried to do it and fail it's
- 00:06:51much harder now in the case of say a
- 00:06:53manufacturer there are loads of portals
- 00:06:55out there that actually allow you to
- 00:06:57order goods Alibaba for example example
- 00:07:00of course online and Google you can find
- 00:07:01a million suppliers and different
- 00:07:03platforms that will allow you to order
- 00:07:05product in the particular case for my
- 00:07:07example today this genuinely happened
- 00:07:09I'm not just saying this for the video
- 00:07:11but I literally said right I'm going to
- 00:07:13make hoodies and t-shirts did a post on
- 00:07:15LinkedIn I did a post on Twitter I did
- 00:07:17loads of emails to people I know I said
- 00:07:20do you know someone and literally while
- 00:07:22I was waiting for all of that to happen
- 00:07:24I went to the local coffee shop near me
- 00:07:27I was having a coffee and I was talking
- 00:07:28to the guy who serves me coffein I said
- 00:07:30I'm looking to make really high quality
- 00:07:32hoodies that I can perhaps sell to show
- 00:07:35people in a video how to start a garment
- 00:07:36business the guy behind the counter said
- 00:07:38that guy over there who's drinking
- 00:07:39coffee that's what he does he has a
- 00:07:41massive manufacturing plant he can help
- 00:07:43you so that's it I went over to him and
- 00:07:45said look hi my name is Simon squib I'd
- 00:07:47like to make some hoodies how much you
- 00:07:48charge how does it work this guy then
- 00:07:50stepped me through the whole process he
- 00:07:51went back home came back to the coffee
- 00:07:53shop with samples to show me there and
- 00:07:55then he didn't know me so it wasn't
- 00:07:57because I'm famous he helped me he just
- 00:07:58helped me right and of course he was
- 00:08:01hoping for an order it is easy to find
- 00:08:03what you're looking for if you're
- 00:08:04looking for it you will never hit a
- 00:08:05Target unless you know the target you're
- 00:08:07going for and then started to get into
- 00:08:09negotiations with the supplier now this
- 00:08:10is where I want to make it useful to you
- 00:08:14right I'm assuming you've got no money
- 00:08:17but if you've got a little bit of money
- 00:08:18it does make it easier so if you've got
- 00:08:20$4,000 then under the model I was
- 00:08:23originally doing you can go bu 200
- 00:08:26hoodies or you can go buy the computer
- 00:08:28you can go buy the soft W whatever it is
- 00:08:30you need to make your business work if
- 00:08:31you've got a little bit of money in my
- 00:08:33opinion is $4,000 gets you mostly what
- 00:08:35you need to start any business but I'm
- 00:08:37going to assume you don't have any money
- 00:08:39so what you can do and I didn't need to
- 00:08:41do it in my case because I've got $4,000
- 00:08:43but what you can do and I did discuss
- 00:08:45this with my supplier is it possible
- 00:08:48that you give me the merchandise and
- 00:08:50then I sell it and I'll pay you even
- 00:08:53more than the asking price you're asking
- 00:08:55for right now for your product now my
- 00:08:57supplier said yes to me
- 00:09:00now I know when you hear that you might
- 00:09:02think well it's okay for you Simon maybe
- 00:09:04they trust you maybe they can do a
- 00:09:05credit check on you you'll be surprised
- 00:09:07if you don't ask you don't get but you
- 00:09:09can ask the supplier to back you and you
- 00:09:10can ask the supplier to be your investor
- 00:09:12invest $4,000 in you have an equity
- 00:09:15stake in your business that's another
- 00:09:17way to go now ideally you have the money
- 00:09:19to do it and I always love the story of
- 00:09:21Brands like Airbnb when they launched
- 00:09:23their product they didn't have the money
- 00:09:24to do the tech development so they went
- 00:09:26and sold seral boxes Obama reels at
- 00:09:29conventions where Barack Obama was at
- 00:09:32and they made money from those serial
- 00:09:33boxes to pay for their Tech development
- 00:09:35of course they also rented out their
- 00:09:36spare room the irony right at the end of
- 00:09:38the day how can you get the money to pay
- 00:09:40for the product that's going to make you
- 00:09:42money you got to be inventive about it
- 00:09:44you got to wake up not be lazy maybe
- 00:09:47even go and clean some cars go clean
- 00:09:49some windows do someone's Garden get
- 00:09:51that $4,000 and stop making excuses now
- 00:09:54if you can get $4,000 and you've got the
- 00:09:56first stage right you know exactly why
- 00:09:58you're doing it you know exactly what
- 00:09:59the product is you know exactly who
- 00:10:01you're targeting now you can make a
- 00:10:03sample now a lot of people when they
- 00:10:04launch a business they go too big too
- 00:10:06quick I launched one of the most
- 00:10:07successful marketing agencies in the
- 00:10:09world in the end I had a couple hundred
- 00:10:10people working for me but at the
- 00:10:11beginning I just had one person working
- 00:10:13with me and I paid them based on the
- 00:10:15project that I'd won right so I think
- 00:10:17with the Garment business this is how
- 00:10:18I'm doing it I've ordered 200 pieces and
- 00:10:21then I'm going to sell 200 pieces for a
- 00:10:24profit and then I'm going to take that
- 00:10:25profit and I'm going to buy 400 next
- 00:10:28time instead of 200 and once I've sold
- 00:10:29400 and with that profit I'm going to
- 00:10:31buy 800 I'm going to show you how to
- 00:10:34sell in a minute I'm going to show you
- 00:10:36how to Market and brand a business in a
- 00:10:38minute but I want you first of all to
- 00:10:40understand the economics the first few
- 00:10:42steps do not have to be big steps if you
- 00:10:45make them too big you won't climb up the
- 00:10:47ladder right so I'm making 200 units I'm
- 00:10:50going to allocate the $4,000 which is
- 00:10:52all we're going to spend in this whole
- 00:10:53process this whole blueprint I'm going
- 00:10:54to give you today we're only going to
- 00:10:55spend $4,000 now we have a product
- 00:10:58supplier now have a minimum order
- 00:11:01quantity we now have the money to make
- 00:11:03that order now it might seem strange
- 00:11:05that I'm inserting this particular point
- 00:11:09a little bit late in the process but now
- 00:11:11you need to be really clear on your
- 00:11:13demographic who's going to buy this
- 00:11:16product and why you know if it's a
- 00:11:17service business what companies are
- 00:11:19going to work with you and why why do
- 00:11:21you want to not work with certain
- 00:11:23companies like for example when I
- 00:11:24launched my agency business I didn't
- 00:11:26want to work with tobacco companies I
- 00:11:27didn't want to work with sin Rel
- 00:11:29businesses my decision I'm not making
- 00:11:31any judgment on other people and what
- 00:11:32they want to do I didn't want to work
- 00:11:33with those businesses I actually wrote
- 00:11:35down who was not my customer and that
- 00:11:37helped me Define who my actual customer
- 00:11:39is because most people when they launch
- 00:11:41a business they don't actually know who
- 00:11:43their customer is and they definitely
- 00:11:44try to be too broad they'll say I want
- 00:11:46anyone who's between the age of 18 and
- 00:11:4860 to buy my product or services or I
- 00:11:50want any company to use my product and
- 00:11:52services no I said I wanted Fortune 500
- 00:11:55companies to use my agency and in the
- 00:11:56Garment business I'm going to pick a
- 00:11:58dreamer demographic graphic which in my
- 00:12:00opinion is people before University just
- 00:12:02before they go into University up to the
- 00:12:03age of 30 now that doesn't mean to say
- 00:12:06that people over the age of 30 don't
- 00:12:08have dreams they definitely do I meet
- 00:12:10thousands of people every month that
- 00:12:11have dreams and they're over 30 but for
- 00:12:13this particular exercise for this
- 00:12:14particular business for this particular
- 00:12:16product I have decided to pick the 18 to
- 00:12:1930y Old bracket because it helps me to
- 00:12:21find in the fashion case what is
- 00:12:24fashionable to that age demographic
- 00:12:25what's important to that age demographic
- 00:12:27and if I design something that's for
- 00:12:29everyone then no one will buy it I can
- 00:12:31always end up designing something later
- 00:12:33for the older demographic and again this
- 00:12:35applies to any business you do so being
- 00:12:38really specific somewhat selective and
- 00:12:41very very careful in your demographic
- 00:12:44breakdown will help you ensure success
- 00:12:48so we're now together launching a
- 00:12:50fashion brand called what's your dream
- 00:12:54that's going to service the 18 to 30y
- 00:12:56Old dreamers and the profit we make
- 00:12:58after our costs is going to fund those
- 00:13:01dreamers got it because the next step is
- 00:13:04going to get complicated and I want you
- 00:13:05to understand the foundation you need
- 00:13:06for any business we understand what
- 00:13:08we're doing why we're doing it how we're
- 00:13:11going to do it and we've got our
- 00:13:12partners lined up so the next step is
- 00:13:14designing the product now for some
- 00:13:16people this stage is really easy perhaps
- 00:13:19you're a designer you know exactly what
- 00:13:21you want and what I probably say is I'm
- 00:13:23saying design the product because we're
- 00:13:25launching a fashion brand but maybe I'm
- 00:13:27also if you're talking about a service
- 00:13:28business or a product business in
- 00:13:30general I would say you're also
- 00:13:32designing a brand right you're designing
- 00:13:35the meaning of the business just by
- 00:13:37visually seeing your imagery people
- 00:13:40should be able to associate with what
- 00:13:42you do so we're really not just
- 00:13:45designing a product we're designing a
- 00:13:47brand now I have a little bit of an
- 00:13:49advantage in this particular case
- 00:13:50because my wife is a graphic designer so
- 00:13:53to keep my cost down she's helping plus
- 00:13:56I work with penguin on this book they
- 00:13:57actually designed what your so I already
- 00:13:59have a general image that I like and I
- 00:14:02know works for my brand but I think that
- 00:14:04you'll be surprised how many people can
- 00:14:05help you with this stage if you don't
- 00:14:07have the talent yourself and if it's
- 00:14:09really important to get deep into this a
- 00:14:11couple of hacks in the fashion business
- 00:14:14you can actually go to an existing
- 00:14:16fashion designer and say would they like
- 00:14:18to do a collaboration right so example
- 00:14:21is kanyon West worked with Adidas right
- 00:14:23and they did a collaboration so he was
- 00:14:25the designer they were the distribution
- 00:14:28partner it went pearshaped and maybe
- 00:14:30that sounds too highbrow to give you as
- 00:14:32an example but you'll be surprised how
- 00:14:34many designers might collaborate with
- 00:14:35you they might do the design with the
- 00:14:38promise that they can get 10% of the
- 00:14:40profit you make so you can get yourself
- 00:14:42a designer and help you with your
- 00:14:44business so again I'm lucky I have a
- 00:14:46graphic designer as my wife so she can
- 00:14:48help me with it but the people who made
- 00:14:50my hoodies the high quality
- 00:14:51manufacturing partner I had for this
- 00:14:53they also offered to do the designs to
- 00:14:55help us right so there's loads of
- 00:14:57different ways to get the product
- 00:14:58designed and it's important to get that
- 00:14:59right now because you have the
- 00:15:01demographic in mind you know exactly who
- 00:15:03you're targeting you should remember to
- 00:15:06design for them and I'll tell you what
- 00:15:07we did to make sure we designed for them
- 00:15:10and by the way I don't think we've got
- 00:15:12it right at the time of making this
- 00:15:13video I don't think it's perfect yet it
- 00:15:15will still make $5,000 a month profit
- 00:15:18easy and we haven't even got it right
- 00:15:19yet so you don't need to get this
- 00:15:21perfect from day one and sometimes
- 00:15:23shipping something that's 80% good is
- 00:15:26better than never shipping it at all
- 00:15:27I'll show you what we've made so that
- 00:15:29you can see the evolution literally in a
- 00:15:32week from the first idea to the second
- 00:15:33idea so this is the first designs we did
- 00:15:36very simple in fact in this particular
- 00:15:38case printing one side not the back side
- 00:15:41uh actually reduced cost in this
- 00:15:42particular example I think for version
- 00:15:44one this is what we thought would be
- 00:15:46popular and matches the brand we already
- 00:15:50have and this this is therefore what
- 00:15:52what we what we initially created and we
- 00:15:54made 200 of them now I'm going to go
- 00:15:58into Marketing in a minute but very
- 00:15:59quickly while we're on the design when
- 00:16:01we put these units into the market and
- 00:16:03shared them with different people we got
- 00:16:05quite negative feedback quite quickly
- 00:16:07people saying that they didn't really
- 00:16:09like it now what was interesting is
- 00:16:10anybody in my community who saw the top
- 00:16:13loved it because they know our mission
- 00:16:15and they feel align to it and they want
- 00:16:16to ask people what their dreams are and
- 00:16:18help people with their dreams but as a
- 00:16:19fashion product outside of our core fan
- 00:16:22base people didn't like it and they'd
- 00:16:25make comments like it it doesn't look
- 00:16:27nice they don't like the the the
- 00:16:29sentence it doesn't resonate with them
- 00:16:31it feels a bit corporate merchandise so
- 00:16:35we took that feedback which was instant
- 00:16:37as soon as we made the tops and put them
- 00:16:38out in the market and we redesigned it
- 00:16:41and we made new ones and these are the
- 00:16:42new ones we made we went from this
- 00:16:44product which by the way once you've
- 00:16:46made one you can feel the quality and
- 00:16:48you can see if it's good enough matches
- 00:16:50what you want the demographic to feel
- 00:16:52when they hold the product this is what
- 00:16:53we had right so one-sided printed
- 00:16:56quality was good but people didn't NE
- 00:16:58neily like this so we switched to a more
- 00:17:02subtle branding give about take now it
- 00:17:05might seem now like we've switched the
- 00:17:07name of the product but we haven't we
- 00:17:09went deeper when we actually gave the
- 00:17:10first product to people we asked what is
- 00:17:12the mission of this product and they
- 00:17:14said well it's to ask people their dream
- 00:17:17we're like no it's to fund people's
- 00:17:20dreams and we do it without any
- 00:17:22expectation of anything in return so
- 00:17:24then when talking to people from the
- 00:17:26first product what they thought of it
- 00:17:27was like well what does that mean I'm
- 00:17:28like what it means give without take we
- 00:17:30learn very quickly to iterate and change
- 00:17:33the messaging now we still own what's
- 00:17:36your dream it's still part of the book
- 00:17:37but this is the essence of what the
- 00:17:39brand is about it's about helping people
- 00:17:42we always said in marketing it's sell
- 00:17:43the sizzle not the steak this is the
- 00:17:46sizzle right and it feels less like
- 00:17:49merchandise and on the back we want
- 00:17:51everybody to become a Founder so we
- 00:17:53decided to put founder on the back now
- 00:17:56this time when we showed this product to
- 00:17:59people they loved it now some people
- 00:18:02still didn't like it in the 18 to 30y
- 00:18:03Old bracket for different reasons
- 00:18:05everyone's got different fashion tastes
- 00:18:07but the concept that people buy this and
- 00:18:08they fund Founders and they can be part
- 00:18:11of a Founder community and the messaging
- 00:18:13is give about taken it subtle meant that
- 00:18:16people wanted this top so now we have
- 00:18:18what we call product Market fit we have
- 00:18:21an idea of a product and the market
- 00:18:23wants that product so number four on the
- 00:18:25blueprint is build the store we have to
- 00:18:27build a platform think about it almost
- 00:18:29like a physical location where people
- 00:18:31can go and buy the product and it has to
- 00:18:33be frictionless so what I'm going to do
- 00:18:36is I'm part of a Shopify and I'm going
- 00:18:38to build a Shopify store right now and
- 00:18:41I'm going to show you how to do it if
- 00:18:42somehow you don't know what Shopify is
- 00:18:44it's a Commerce platform that allows you
- 00:18:46to start grow and manage a business
- 00:18:48Shopify is really really easy and the
- 00:18:51setup can look so professional um it
- 00:18:53really is a simple drag and drop
- 00:18:55features so it means no coding so don't
- 00:18:57let anyone sell you that this is really
- 00:18:59hard to build it's not um if I can do it
- 00:19:02anyone can do it in this section you can
- 00:19:04list your products look how beautiful
- 00:19:06looks it's just so simple you need to
- 00:19:08come up with a good description for your
- 00:19:10product so in my case I'm going to
- 00:19:12introduce the give without take hoodie
- 00:19:14by influencer Simon squib A Perfect
- 00:19:16Blend of comfort style and purpose
- 00:19:18crafted from 100% organic cotton this
- 00:19:21hoodie is as soft on your skin as it is
- 00:19:23on the environment every purchase
- 00:19:24supports Simon's mission to give back we
- 00:19:27proceeds going Direct direct ly towards
- 00:19:29funding dreams and helping aspiring
- 00:19:31entrepreneurs achieve their goals it's
- 00:19:33important that you really emphasize why
- 00:19:36people should buy right so in this now
- 00:19:38we've made the mission clear the quality
- 00:19:40clear and the purpose of the business oh
- 00:19:43I really like this theme this is really
- 00:19:44cool now you can pay but I'm I'm going
- 00:19:47for this free one for now got to keep
- 00:19:49your cost down when you're first
- 00:19:50starting a business you can see it
- 00:19:51already looks like a store it's so
- 00:19:53simple I'm not techsavvy at all so if I
- 00:19:55can do it you can do it I'm just going
- 00:19:57to change the text here and add the
- 00:19:59official give without take
- 00:20:01logo so I'm just going to upload that
- 00:20:03looking good A lot of people think you
- 00:20:05need to do fancy product shots I don't
- 00:20:07think it's really that hard these days
- 00:20:08to take pictures but anyway any business
- 00:20:11that's selling a product I tell people
- 00:20:14don't overthink it too much right better
- 00:20:16to get it live 80% perfect and update it
- 00:20:18over time and make it perfect from day
- 00:20:20one and never launch now this is really
- 00:20:22important you keep an eye on this and
- 00:20:23look it's laid out super simple right
- 00:20:26here are your analytics you need to be
- 00:20:28consist stantly checking these as this
- 00:20:30is what will let you know what's working
- 00:20:32and what doesn't work use these tools so
- 00:20:34I managed to get shopified to give you a
- 00:20:35free trial as well if you go to
- 00:20:37shopify.com
- 00:20:40you can have a free trial of this it's
- 00:20:43easy go do
- 00:20:45it now number five is actually planning
- 00:20:49distribution now in of course a garment
- 00:20:52business that means retail shops that
- 00:20:54means online stores and we're lucky
- 00:20:57enough in this particular video to be
- 00:20:58sponsored by Shopify that's a great
- 00:21:00platform to get your product out there
- 00:21:02in the world now I actually ask Shopify
- 00:21:04to sponsor this video to show you that
- 00:21:06you could also get these Partners to
- 00:21:08sponsor you sometimes your distribution
- 00:21:10Partners can be your sponsors they can
- 00:21:12help you fund your partnership with them
- 00:21:14can be a part of sponsorship and can
- 00:21:16help you get your product out there now
- 00:21:18distribution can come in many forms I'm
- 00:21:20going to talk through different ways
- 00:21:21that you can get your business out there
- 00:21:22if you've got a Service Company
- 00:21:24distribution is super simple you just
- 00:21:26get one happy customer and you ask them
- 00:21:29to recommend you right that is a
- 00:21:30distribution model I love it when people
- 00:21:32build up email lists around their
- 00:21:34personal brand because you can email
- 00:21:35people to buy your product buy your
- 00:21:37service it's low cost it's a
- 00:21:40distribution model I always think the
- 00:21:41lwh hanging fruit with any business is
- 00:21:44always getting your friends and family
- 00:21:45to buy your product of course in the
- 00:21:47hoodie case I can literally get my wife
- 00:21:49to buy a hoodie I can get my team to all
- 00:21:51buy a hoodie I can get all their friends
- 00:21:52to buy a hoodie right I've got a team of
- 00:21:5515 that help me make these videos if
- 00:21:57they all sell three we've sold 60 70
- 00:21:59hoodies just in our small Network within
- 00:22:01our company portfolio now if you've got
- 00:22:03product Market fit you can of course
- 00:22:05scale this up now but distribution can
- 00:22:07start small everybody thinks
- 00:22:09distribution has to be from day one
- 00:22:11you're in all the waitr or you're in all
- 00:22:13the tesos or you know whatever you don't
- 00:22:15need it to be big straight away moving
- 00:22:17it forward with a small group of people
- 00:22:19first can create a community which I
- 00:22:21think is a power up in any marketing
- 00:22:23having a community that then promote you
- 00:22:24is more powerful than you promoting you
- 00:22:27I'll quickly show you behind the scenes
- 00:22:28of what we're doing right now we're
- 00:22:31packing 100 hoodies to 100 people we're
- 00:22:34including a book we're including some
- 00:22:36sweets you can see how we get these
- 00:22:38hoodies out to influencers to Partners
- 00:22:41and distribution can come from their
- 00:22:42awareness of the product we also managed
- 00:22:44to secure some free spots at carfest and
- 00:22:47other festivals around to distribute and
- 00:22:50sell our product now a lot of these
- 00:22:51locations if you ask them will have
- 00:22:54spare spots most Sunday markets have a
- 00:22:56spare spot sometimes you can do Revenue
- 00:22:59shares sometimes there's an amount of
- 00:23:00money to put down to actually have those
- 00:23:02Market stalls but it's worth asking
- 00:23:05sometimes for small businesses a lot of
- 00:23:06these places will let you start for free
- 00:23:08you never know one of my favorite
- 00:23:10distributions of course is social media
- 00:23:12but we're going to get more into that in
- 00:23:13a minute when we talk about marketing
- 00:23:15now an interesting thing when we're
- 00:23:16doing a market test at carfest about how
- 00:23:19much people pay for our hoodies we we're
- 00:23:21looking to sell them for
- 00:23:2285 our cost of goods is around £35 so of
- 00:23:26course we have marketing management
- 00:23:28distri R bution so we have to sell them
- 00:23:30for £85 to make a profit and when we
- 00:23:33were asking people at the event what
- 00:23:35they would pay they were saying around
- 00:23:375055 which sounds absolutely reasonable
- 00:23:40we analyzed why people were saying that
- 00:23:43it's one at a festival some of the
- 00:23:45demographic were not in love with our
- 00:23:46mission they didn't know our mission so
- 00:23:48when we ask them how much they pay they
- 00:23:50pay a certain amount they'd never tried
- 00:23:51on the hoodie they' never checked the
- 00:23:53quality and they didn't know our mission
- 00:23:54so we failed to prove value but once we
- 00:23:57explain the value
- 00:23:59quality and why we were doing it then
- 00:24:01people were starting to say no problem
- 00:24:02with £85 so as soon as I tried it on for
- 00:24:05example no one no one question the £85
- 00:24:07when we actually did the display of all
- 00:24:09the goods initially we put it all piled
- 00:24:11up and there were too many tops around
- 00:24:13it didn't look like a premium product
- 00:24:15cuz it was all jumbled together like a
- 00:24:16secondhand shop so we tied up the
- 00:24:19display we made it look cleaner we made
- 00:24:21the product look nicer we put the
- 00:24:23product on wooden hangers and by the way
- 00:24:24this is true for every single business
- 00:24:26if you've got a service business and
- 00:24:27people go on your website which is often
- 00:24:29the distribution Network and you put
- 00:24:30your low-end client work on your website
- 00:24:34then your pricing will instantly be seen
- 00:24:36as low-end so on my agency platform we
- 00:24:38used to always put CNN estate order all
- 00:24:41the big products where we pay big money
- 00:24:42will always front and center so value
- 00:24:44was obvious from day one you want to
- 00:24:46work with the people that help CNN
- 00:24:47become famous then we're not going to be
- 00:24:49cheap are we and I think sometimes
- 00:24:50people decide pricing based on what the
- 00:24:53customer said instead of making sure you
- 00:24:55bring the customer up to the value of
- 00:24:57your product Apple are brilliant at this
- 00:24:59everybody said no one's going to pay
- 00:25:01,000 plus for a phone nobody all the
- 00:25:03other companies no Kia were going down
- 00:25:05in price they thought people wanted to
- 00:25:06pay less it's not true you add value you
- 00:25:10can add on the price if you bring people
- 00:25:12more they will pay more if you wear this
- 00:25:15hoodie and it doesn't fall apart in two
- 00:25:16months people are happy to pay more for
- 00:25:18it because it lasts longer so you have
- 00:25:21to make sure that your Communications
- 00:25:23and your distribution partners are
- 00:25:25appropriate for your brand if you're
- 00:25:27putting this hoodie in tesos then it's
- 00:25:29probably not going to sell for £85 but
- 00:25:32if you put it in a premium location with
- 00:25:35the mission clearly stated with the
- 00:25:37ability for people to try on the product
- 00:25:38and realize the quality you'll get the
- 00:25:41price you want now maybe you don't want
- 00:25:42to price your product High that's fine
- 00:25:44there is a whole different economic
- 00:25:46model around doing things cheap and mass
- 00:25:48totally get that personally again My
- 00:25:50Philosophy is always have a premium
- 00:25:52product and you can always come down in
- 00:25:54price over time and distribution
- 00:25:56Partners will determ
- 00:25:58whether or not your product is seen as
- 00:26:00valuable or not so in marketing there
- 00:26:02are a lot of different methods to
- 00:26:03promote a business I've done a video on
- 00:26:04marketing that's got a million views on
- 00:26:06YouTube already that goes really deep on
- 00:26:08this subject okay but I'm going to tell
- 00:26:10you two important things to launch any
- 00:26:12business there are some things I think
- 00:26:13you should avoid and in my opinion when
- 00:26:15you're first launching a business and
- 00:26:16not everyone will agree with me on this
- 00:26:18but try to avoid paid ads why because
- 00:26:21it's very competitive it can get really
- 00:26:23expensive and even if you manage to find
- 00:26:25a niche initially if there's a niche it
- 00:26:28will make you money I drive sales to
- 00:26:30your site it will just become a bidding
- 00:26:32war and it will become very difficult
- 00:26:35and there's not much of a learning curve
- 00:26:36in mastering it I think the better way
- 00:26:38to Market any business is learn to make
- 00:26:42content and maybe initially if you don't
- 00:26:44know how to make content which is Bloody
- 00:26:46easy I'm sure you're consuming a lot of
- 00:26:47it you just need to look at what's
- 00:26:49popular and some respects replicate it
- 00:26:52like Street content right now is really
- 00:26:54popular that's what I'm doing it's
- 00:26:56hugely popular you know sometimes you
- 00:26:58just need to innovate on what's already
- 00:26:59out there you don't need to reinvent the
- 00:27:00wheel but there are two methods in
- 00:27:02marketing that I think everybody should
- 00:27:04know in and out and it's really simple
- 00:27:06influencer marketing and you can be an
- 00:27:08introvert or an extrovert and do
- 00:27:10influencer marketing create a list of
- 00:27:12influencers that you want to work with
- 00:27:14and even the big ones that you think I
- 00:27:15can't afford them the way to work with
- 00:27:17influences is one align with their
- 00:27:20purpose so if you came to me with a
- 00:27:22business and you said Simon this
- 00:27:23business will help fix the education
- 00:27:25system Simon this business will help
- 00:27:27people's dream beam happen I'd be really
- 00:27:29interested in helping you make it happen
- 00:27:31and if you're a small business I
- 00:27:32wouldn't charge you now I do charge big
- 00:27:34Brands because they' got the money but I
- 00:27:37do not as a rule charge people who are
- 00:27:40starting a business money to help them
- 00:27:42Market their business and you'll be
- 00:27:43surprised how many influencers are the
- 00:27:45same now if there are some influencers
- 00:27:47out there that still need to be paid and
- 00:27:48everyone needs to earn a living so
- 00:27:49that's perfectly normal you can link
- 00:27:52sales to income so in other words if
- 00:27:54they sell a hoodie you can give them a
- 00:27:56percentage of the profit so make a list
- 00:27:58be bold the strongest people ask for
- 00:28:01help tell these people why you need
- 00:28:03their help you'll be shocked how many
- 00:28:04people will help you now you can also
- 00:28:06build an economic model in there that
- 00:28:08will also increase your chances of
- 00:28:09having even more influencers but
- 00:28:11influencer marketing is the most
- 00:28:12underpriced attention in the market
- 00:28:14today and despite everybody knowing
- 00:28:16about it it's shocking to me how many
- 00:28:18people don't actually try and do it the
- 00:28:20second thing in marketing if you don't
- 00:28:22want to go watch my very long video on
- 00:28:24marketing is strategic marketing so
- 00:28:26strategic Partnerships are one of the
- 00:28:27most under underrated ways of getting
- 00:28:29your business out there so an example I
- 00:28:32work with Tide banking right now if you
- 00:28:34sign up with Tide and you get £50 when
- 00:28:37you spend £100 and I put the link down
- 00:28:39below now I've mentioned it you can even
- 00:28:41get your company registered for free
- 00:28:42through them so I work with brands that
- 00:28:44create a win-win for my audience TI
- 00:28:46banking have a huge Client List and I
- 00:28:48say to them would you mind promoting
- 00:28:51these dream hoodies to your audience who
- 00:28:53might like to buy one to be a part of
- 00:28:54the founder community be mind we got
- 00:28:56found on the back of the tops but also
- 00:28:57at the same time the money these hoodies
- 00:28:59generate will allow people to open up a
- 00:29:01business which allows them to open up a
- 00:29:03bank account so it creates a win-win for
- 00:29:05Brands like that people don't realize
- 00:29:06that these Brands need Innovation and
- 00:29:09need Partnerships quite often the way to
- 00:29:11think about it is okay which partner out
- 00:29:14there has a database for exactly the
- 00:29:17demographic that we discussed earlier so
- 00:29:19who has the demographic for the people
- 00:29:21you want to work with already and if you
- 00:29:23have a product that doesn't conflict
- 00:29:24with them then they will be happy to
- 00:29:26team up with you especially if there a
- 00:29:27share revenue and certainly if there's a
- 00:29:29mission alignment I call this 1+ 1al 11
- 00:29:32and I will never stop telling people
- 00:29:34about this because I see so many people
- 00:29:35spending money on ads and not enough
- 00:29:37money spent building relationships with
- 00:29:39companies that already have all your
- 00:29:41clients in their email list there is one
- 00:29:43other strategic partnership that you can
- 00:29:44have and that's with your existing
- 00:29:46customers so we've now sold 80 hoodies
- 00:29:49in the last 8 hours those people we can
- 00:29:53now say to them if you sell the hoodies
- 00:29:55we can give you a commission this is
- 00:29:56called affiliate income so make making
- 00:29:58your community benefit from selling your
- 00:30:00product is another thing a lot of people
- 00:30:01don't do they're willing to give the
- 00:30:03money to Mark Zuckerberg a billionaire
- 00:30:04already at Facebook but they're not
- 00:30:06willing to give profit or and income to
- 00:30:08their Community don't make the same
- 00:30:10mistake I see so many small companies
- 00:30:12make every single day learn to reward
- 00:30:14your community for helping you number
- 00:30:16seven on the blueprint is product launch
- 00:30:18now in many respects a product launch
- 00:30:21isn't a final thing a lot of people
- 00:30:23think they've launched their product
- 00:30:24that's it it's worked or it hasn't
- 00:30:25worked Airbnb launched website eight
- 00:30:28times before it worked so a product
- 00:30:30launch is it's very important to think
- 00:30:32about timing so for example we're doing
- 00:30:34hoodies it's just coming into Autumn now
- 00:30:36in England where we're initially
- 00:30:37launching our product hoodies make sense
- 00:30:40actually at the festival we were at it
- 00:30:41was sunny so we sold less hoodies
- 00:30:44because we were off slightly we were a
- 00:30:45little bit early just before the Autumn
- 00:30:48season began so timing is everything
- 00:30:50you'll see a lot of hit songs for
- 00:30:51example if you're a singer and you
- 00:30:52release a song a lot of hit songs
- 00:30:54initially weren't hits and then they
- 00:30:56were released a little bit later at a
- 00:30:58different moment in time and they were
- 00:31:00hits t-shirt weather by Circle waves for
- 00:31:03example go Google it the point is that
- 00:31:05timing is everything and a lot of the
- 00:31:07time people will decide whether a
- 00:31:08product is a failure simply by product
- 00:31:10launch without actually realizing that
- 00:31:13it might be timing okay so make sure
- 00:31:15your timing is right of course in our
- 00:31:17case we're launching hoodies no one's
- 00:31:18going to wear them in the summer then be
- 00:31:20creative in your launch I always am
- 00:31:22shocked when people launch a business
- 00:31:24and it's just like a crappy event and
- 00:31:27they don't don't really do anything fun
- 00:31:29I think business and fun need to work
- 00:31:32hand inand so what can you do when you
- 00:31:34launch your business that's fun that's
- 00:31:37on brand for you that's going to be
- 00:31:39engaging so in our case we go into the
- 00:31:41street and we say how much would you pay
- 00:31:44for this hoodie if you can guess the
- 00:31:45price you get it free do something that
- 00:31:47relates to your personal brand and that
- 00:31:49can be enjoyable for you and of course
- 00:31:51matches the purpose of your business I
- 00:31:53still really like things like flash mobs
- 00:31:55you know like just getting attention I
- 00:31:57bought a staircase that was went up for
- 00:31:59sale the first ever staircase in London
- 00:32:01that went up for sale and it was in all
- 00:32:03the news the next day because why did
- 00:32:05this millionaire buy a staircase in the
- 00:32:07middle of London right so you know Le
- 00:32:09leveraging whatever you can whatever
- 00:32:11assets you've got to do something unique
- 00:32:13to get you PR which is press relations
- 00:32:15and doing whatever you can to get
- 00:32:17communities involved in what you're
- 00:32:18doing and make a noise I mean we went on
- 00:32:21the London Underground and put up fake
- 00:32:24ads when we launched our help bank.com
- 00:32:26platform and we took empty spaces on the
- 00:32:28Underground and we put ads in that said
- 00:32:30we didn't pay for this space so you
- 00:32:32don't need to pay for help and that got
- 00:32:34a lot of noise a lot of controversy some
- 00:32:36people didn't like us for it some people
- 00:32:37thought it was brilliant it doesn't
- 00:32:39matter we were doing it for a purpose
- 00:32:41we're doing it to help people and it got
- 00:32:44us lots and lots of media coverage the
- 00:32:45staircase I bought got us2 million with
- 00:32:48a free media coverage I didn't need it
- 00:32:50as a millionaire go spend 22 million
- 00:32:52pound to get media coverage I got it for
- 00:32:53free and you can do the same now in a
- 00:32:55case of something like a hoodie I I
- 00:32:57think people wearing it naturally is a
- 00:33:00really good thing to do there was this
- 00:33:02whole thing where Samsung paid the
- 00:33:04Kardashians and other people to do a
- 00:33:06tweet about how much they love their
- 00:33:07Samsung and it turned out the Tweet said
- 00:33:09came from their iPhone so you don't want
- 00:33:12to get caught out like that you don't
- 00:33:13want to have someone say they like your
- 00:33:15product but they don't genuinely like it
- 00:33:17so the thing to do is what we call
- 00:33:18social listening once you've done this
- 00:33:20initial launch you want to understand
- 00:33:23what person may actually love your
- 00:33:25mission and your product and then try to
- 00:33:27get them naturally engaging with it I'm
- 00:33:29not even wearing my own top today right
- 00:33:31like what does that say about me I
- 00:33:32should be wearing it today yeah and I
- 00:33:34think that's important people naturally
- 00:33:35need to be wearing it and I will wear it
- 00:33:37in a minute just to prove I do love it
- 00:33:39but I don't want to be too commercial in
- 00:33:40this video right the point is people
- 00:33:43will wear it naturally if they like it
- 00:33:44and they're the people to really double
- 00:33:45down on when it comes to product launch
- 00:33:47people that genuinely believe in your
- 00:33:48business genuinely believe in your
- 00:33:50service and genuinely believe what
- 00:33:52you're doing is important and they want
- 00:33:53to help you do it back those people work
- 00:33:56with them on the launch stage all right
- 00:33:57now I'm going to live the brand because
- 00:33:59in my case I'm a key person of influence
- 00:34:01right but you you you need to live the
- 00:34:03brand and you want to work with people
- 00:34:04that live the brand and so I will be
- 00:34:07wearing this everywhere I go that's
- 00:34:08another reason I wanted to make it super
- 00:34:10high quality it's why it's got furry
- 00:34:12lining cuz I want it to be a good
- 00:34:14product because I'm going to wear it
- 00:34:15next is building infrastructure now I
- 00:34:17have a strange way of building a
- 00:34:19business I don't think it's strange but
- 00:34:20some people think it's strange my idea
- 00:34:22is always get out to the market see the
- 00:34:24demand and then build infrastructure
- 00:34:27around it now I've got the resources to
- 00:34:29buy a warehouse right now I mean I
- 00:34:31bought a bloody staircase I have the
- 00:34:33resources to go and build out trucks and
- 00:34:36delivery folks and all the stuff that is
- 00:34:38needed for a business like this in the
- 00:34:40long run we're going to have our own
- 00:34:41stores in the long run but you don't
- 00:34:44need to do it at the beginning and I
- 00:34:45don't do it at the beginning even though
- 00:34:46I've got the resources to do it why
- 00:34:47because you want to find out demand
- 00:34:49first you want to find out the market
- 00:34:51fit is perfect you want to find out what
- 00:34:53people are willing to pay for the
- 00:34:55product long term or what other products
- 00:34:57they want so you don't want to start
- 00:34:58building all this expensive
- 00:34:59infrastructure even if you've got the
- 00:35:00money until the time is right so what is
- 00:35:02the infrastructure for this early stage
- 00:35:04in my opinion it's good product right
- 00:35:07Baseline second is delivery right so if
- 00:35:10someone goes into the link in the
- 00:35:12comments down below buys one of these
- 00:35:13hoodies right now which you feel free to
- 00:35:14do I want it getting delivered to you
- 00:35:16quickly promptly and professionally so
- 00:35:18infrastructure for me in the early days
- 00:35:19is a way of getting your order into my
- 00:35:22system and then that order getting
- 00:35:25translated into a delivery in between my
- 00:35:28personal opinion is you want to package
- 00:35:30it up so it's nice so in a hoodie's case
- 00:35:31that's obvious you put it in a nice box
- 00:35:33you wrap it you put a note in there
- 00:35:34that's personalized you try to make it
- 00:35:36as unique as possible and as nice as
- 00:35:38possible in a service business that
- 00:35:39might simply be telling people clearly
- 00:35:40when you're going to deliver the service
- 00:35:42when you're actually going to bring them
- 00:35:44the results that they're after whatever
- 00:35:45it is that you're doing whatever is a
- 00:35:47product business or a service business
- 00:35:49in this stage infrastructure is about
- 00:35:51delivering on expectation of what you
- 00:35:53have launched right make sure you have
- 00:35:56built enough but not too much that it
- 00:35:58cost you a lot of money to maintain it
- 00:36:00when you're not totally sure it's going
- 00:36:01to scale yet so what have I done in our
- 00:36:03case and and this is why I wanted to
- 00:36:05actually launch a business today and not
- 00:36:07just tell you how to do it because even
- 00:36:09as a multi-millionaire with all the
- 00:36:10resources I've got to hand all the
- 00:36:12knowledge I have I still wouldn't go out
- 00:36:14there and build massive infrastructure
- 00:36:15so what have I done I figured out what
- 00:36:16it cost to post a hoodie with the Royal
- 00:36:18Mail I went on the Royal Mail website
- 00:36:20and they're not the best brand in the
- 00:36:21well but I went on their website and
- 00:36:22figured out what will it cost to post
- 00:36:25one hoodie two hoodies two hoodies with
- 00:36:27a letter two hoodies with paper wrap two
- 00:36:30hoodies with ribbon what does it cost to
- 00:36:32send these out and I've worked out the
- 00:36:33most cost effective way to do it
- 00:36:35actually sending two hoodies cost the
- 00:36:36same as one hoodie so I could do
- 00:36:38shipping free if you order two right by
- 00:36:40understanding the infrastructure it's
- 00:36:41already out there I haven't had to
- 00:36:43recreate the wheel and build a a
- 00:36:45logistics system I can literally right
- 00:36:47now put your hoodie in a bag write a
- 00:36:50note to you personally which I want to
- 00:36:51do for now that might not be scalable
- 00:36:53and then literally have the post office
- 00:36:55come and pick it up when it's ready for
- 00:36:57delivery that's all the infrastructure
- 00:36:58I've built for this business and I don't
- 00:37:00need anything else if I've done all the
- 00:37:01other things I've just told you about
- 00:37:02the influencer marketing the the the
- 00:37:05product launch correctly you've got the
- 00:37:06why right you got the brand right then
- 00:37:08all I need is that now of course if I
- 00:37:11suddenly get 10,000 orders a day I need
- 00:37:13to also think about what is my limits
- 00:37:15actually initially I only have now 120
- 00:37:18hoodies left I will sell those hoodies
- 00:37:20before I order more but what I have done
- 00:37:22infrastructure wise is I've checked with
- 00:37:24my supplier how long do they need me to
- 00:37:26order more top for them tops to arrive
- 00:37:28so it's basically 3 days so I can put up
- 00:37:32more and I can get more to people if I
- 00:37:35want without having huge stock on my
- 00:37:37system and huge cost to buy that stock
- 00:37:39in advance that's all the infrastructure
- 00:37:41I need at the beginning and and and
- 00:37:42honestly like any business this supplies
- 00:37:45the same like when I built my creative
- 00:37:46agency business we had hundreds of
- 00:37:48people working for us towards the end
- 00:37:50but when I first started I just had one
- 00:37:51designer who was a contractor they
- 00:37:54weren't even on fulltime and I got a
- 00:37:56client who needed service I would then
- 00:37:59hire that contractor to do the work and
- 00:38:01then that contractor became a partner in
- 00:38:02a business and then I married that
- 00:38:04partner and then we had a baby together
- 00:38:06which sounds a bit weird doesn't it but
- 00:38:07that's kind of sometimes building a
- 00:38:09business becomes personal I'm joking a
- 00:38:10little bit I did marry my first ever
- 00:38:12graphic design higher in the agency but
- 00:38:15joking aside you don't need to marry
- 00:38:16people to make this work the point I'm
- 00:38:18trying to make here that that businesses
- 00:38:20start step by step you can get one
- 00:38:22person initially as a contractor you can
- 00:38:25get one product and then sell that one
- 00:38:28product you don't need to overthink it I
- 00:38:31can ship thousands of products if I want
- 00:38:34but I don't need to at the beginning
- 00:38:35let's see what the demand is and I'll
- 00:38:37scale up based on demand you should do
- 00:38:40the same now number nine on the
- 00:38:42blueprint is sales I I put this as a
- 00:38:44separate subject from marketing and even
- 00:38:46product launch because sales is an
- 00:38:49ongoing process in any business a lot of
- 00:38:52people don't spend enough time building
- 00:38:54a system for sales and I don't care what
- 00:38:56business it is I love Building Sales
- 00:38:58Systems and anyone can build a sales
- 00:39:00system everyone should know how to sell
- 00:39:01in fact I would argue today every
- 00:39:03business is built on the back of sales
- 00:39:05if you can sale you can build any
- 00:39:06business and anyone can learn sales now
- 00:39:08I've done a very long video on sales
- 00:39:10which again you can go watch if you want
- 00:39:11but I'm going to give you the most
- 00:39:13important highlights with any launch
- 00:39:15business right now the first is what is
- 00:39:17your sales strategy let's take the
- 00:39:19Garment industry again if we sell one
- 00:39:21hoodie and we've sold 80 hoodies then we
- 00:39:24need a system a sales system to ask that
- 00:39:27person if they'd also like a t-shirt or
- 00:39:29they'd like a different color hoodie
- 00:39:30sales doesn't have to just come from an
- 00:39:32external Source marketing is better at
- 00:39:34generating external source of sales
- 00:39:37sales comes from internal processes so
- 00:39:39now those 80 people we ask them if they
- 00:39:41want to buy a different color right we
- 00:39:43ask them if they want to buy a T-shirt
- 00:39:44and then we also understand them maybe
- 00:39:46we do a survey and then we ask them if
- 00:39:48they wouldn't mind telling their friends
- 00:39:50about us and maybe we give them a
- 00:39:51referral code or a free something
- 00:39:53whatever that is and so sales is a
- 00:39:55process that people just don't flush out
- 00:39:57enough and that's why I put it in here
- 00:39:59as a separate thing it it's not part of
- 00:40:01marketing okay marketing will create
- 00:40:04inbound reactive sales is outbound
- 00:40:06proactive right you need to make sure
- 00:40:09that if for example in our merchandising
- 00:40:11range maybe we'll get brand sponsors
- 00:40:14right so we need someone that's going to
- 00:40:15go out and talk to Brands and say hey
- 00:40:19pipe drive would you like to sponsor
- 00:40:21some T-shirts and we need to speak to 30
- 00:40:23Brands to get six meetings to get one
- 00:40:25client saying yes now I really like love
- 00:40:27sales and I get really excited about it
- 00:40:28it's a very deep subject but I want you
- 00:40:30to really think about your sales system
- 00:40:33now you've launched a product it's out
- 00:40:35there in the world you can be thinking
- 00:40:36about this now because now you can start
- 00:40:39to understand who your clients are and
- 00:40:41who you can sell to at scale once you've
- 00:40:43got that so for example maybe in the
- 00:40:44hoodie business we'll go Target all the
- 00:40:46people that have sold a company and
- 00:40:48we'll ask them please buy these hoodies
- 00:40:50to support other people that one day
- 00:40:51want to sell a company and there's lots
- 00:40:53of people that have sold a company and
- 00:40:54then maybe they will also promote it
- 00:40:56because a lot of these people have sold
- 00:40:57compan comp become quite successful on
- 00:40:58social media themselves so maybe that's
- 00:41:00our our sales strategy to go to existing
- 00:41:03successful Founders that got lucky had
- 00:41:06help were successful have a great life
- 00:41:08and they now want to give back and help
- 00:41:09other people do it maybe they even buy a
- 00:41:11load of hoodies and give it to people
- 00:41:13that they're investing in give it to
- 00:41:14people they want to help make their
- 00:41:16dreams happen so having a sales strategy
- 00:41:18whatever it is for you I mean my agency
- 00:41:20business my service business my sales
- 00:41:22strategy is I wanted to work with a
- 00:41:23Fortune 500 companies all the top most
- 00:41:26successful business business is I wanted
- 00:41:28to work with those companies because I
- 00:41:29knew they had money I knew they had
- 00:41:30power to do cool things and I knew that
- 00:41:33if I got through to the right person I
- 00:41:35can make a difference in their business
- 00:41:36what's your sales strategy be very
- 00:41:38careful about this don't overlook it
- 00:41:40last but not least is the financial
- 00:41:41management and potential growth of your
- 00:41:44business now I would say one of my
- 00:41:46personal weaknesses in business is I
- 00:41:47don't really care about money and I
- 00:41:49don't really care about the finance
- 00:41:50department generally speaking but you
- 00:41:51cannot Overlook the financial mechanism
- 00:41:54in which your business will grow what I
- 00:41:56suggest and this is what I did for the
- 00:41:57first six years of fluid I didn't take
- 00:42:00any money out all the profit we made and
- 00:42:02we made profit every single year I put
- 00:42:04it back in to Growing the company I
- 00:42:06hired people got a bigger office made
- 00:42:08the world better for my team by having
- 00:42:10good equipment good software I think
- 00:42:12people take money off the table too
- 00:42:13quickly and the reason I made so much
- 00:42:15money is because I took no money off the
- 00:42:17table for such a long time every time
- 00:42:19you take money off the table I literally
- 00:42:21think you're you're Haring the value of
- 00:42:23your business a year from now right so
- 00:42:26understand your numbers
- 00:42:27and and and and actually it's very
- 00:42:29simple what does it cost you to deliver
- 00:42:31the product to the customer and what's
- 00:42:32your profit margin I've seen many
- 00:42:33restaurants go bus that are full up
- 00:42:35absolutely packed and they gone bust why
- 00:42:38because they filled up based on what
- 00:42:40clients said they would pay but they
- 00:42:42didn't actually work out what it was
- 00:42:44costing them to run that business so
- 00:42:46they had a full restaurant but no profit
- 00:42:49you have to be disciplined about this
- 00:42:52and so what are your cost of goods what
- 00:42:55does it cost you be very clear even
- 00:42:57electricity that you're using at home
- 00:43:00when you're working on your idea costs
- 00:43:02money work it out even if you don't like
- 00:43:04numbers and you don't like accounts this
- 00:43:06stuff is Common Sense learn it
- 00:43:09figure out exactly what it cost you to
- 00:43:11make that product exactly what it cost
- 00:43:13to deliver that service write it down
- 00:43:15stick it on the wall and make sure you
- 00:43:16never sell below it now cash flow wise
- 00:43:20the business that I'm launching here
- 00:43:21with you today sure there's a little bit
- 00:43:23of a cash flow problem in this business
- 00:43:24because I have to make the product and
- 00:43:26then I have to pay to ship it to you and
- 00:43:28there is a you know in general like it
- 00:43:30sits in escro different companies do
- 00:43:32different things credit cards hold the
- 00:43:33money but there can actually be a cash
- 00:43:35flow delay before I get payment right I
- 00:43:37have to sell all the product before I
- 00:43:38get all my money back too every business
- 00:43:39is different in the service business I
- 00:43:41always recommend to people got the best
- 00:43:42cash flow business ever because what you
- 00:43:44should do is charge 50% deposit in
- 00:43:46advance soon as you sign an agreement to
- 00:43:47do any sort of service business and that
- 00:43:4950% should be your cost and the final
- 00:43:5250% payment is your profit but not
- 00:43:54enough people Implement that now in
- 00:43:55product businesses a little bit
- 00:43:56different but again we made hoodies we
- 00:43:59took them to a festival people gave us
- 00:44:01cash we got the money back quite quick
- 00:44:03right some people pay by credit card the
- 00:44:05credit card takes 30 days or so to pay
- 00:44:07us yes and we lose 3% depending on which
- 00:44:09credit card that is all cost you need to
- 00:44:11put into your financial system you need
- 00:44:12to know exactly if someone pays my
- 00:44:14credit card what's the cost if someone
- 00:44:16pays cash what's the cost because
- 00:44:17actually you still got to take the cash
- 00:44:18to the bank right what's the cost of
- 00:44:20getting in the car to the bank to put
- 00:44:22the cash in the bank right understand
- 00:44:24every single element don't be lazy be
- 00:44:26clear because this part of the business
- 00:44:28if you don't manage it well will not
- 00:44:30allow you to grow because you don't know
- 00:44:32exactly what you're making you may have
- 00:44:33money coming in and not even realizing
- 00:44:34you're losing money and I see that time
- 00:44:37and time again sounds like my god really
- 00:44:39people are losing money and don't
- 00:44:40realize it yes because they don't spend
- 00:44:42the time figuring out exactly what their
- 00:44:43cost is and being very clear targets are
- 00:44:46the final thing I'll say if you want to
- 00:44:48grow you need to set yourself ambitious
- 00:44:51targets now maybe you don't want to grow
- 00:44:53maybe you want a lifestyle business
- 00:44:55which is absolutely fine I
- 00:44:57believe a big business is easier to
- 00:45:00manage than a small business and
- 00:45:01honestly you want to plan for growth and
- 00:45:04to plan for growth you need to set
- 00:45:05targets and it makes everyone feel
- 00:45:07excited if you reach those targets if
- 00:45:09you don't set a Target you won't hit it
- 00:45:10I've said it before I say it again set
- 00:45:12targets so that you can grow so what is
- 00:45:14it you want to do maybe that's the thing
- 00:45:15for you to go away and do now and figure
- 00:45:17out what is it you want to do I hope you
- 00:45:19enjoyed today's video and let me know
- 00:45:21where you're going to set up I really
- 00:45:22love to hear it I'm have to have some
- 00:45:23chicken now so I'll see you later
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