4 Steps to Launching a Business

By Chris Romero | Unategorized

Sep 06

Are you tired of living life by someone else’s rules?

Are you ready to take action, and become the business owner you have dreamed about being?

Are you ready to take massive action to transform your life?

Owning a business is not complicated. It all comes down to having a system and a process that you are following to take you from step 1 to step 2 to step 3, and so on.

Even though this can be easy, most people take way too much time launching their business. They have over complicated the heck out of it!

For the last ten years, I ran a sales training franchise with my parents. We helped all kinds of businesses grow and sell and transform their lives.

In November 2018, I decided that it was time for me to spread my wings, and start my own company!

It was beyond exciting! I had been helping businesses grow and scale for the last ten years! I had been helping people sell, and I knew exactly what it would take to scale a business.

I was ON FIRE! It was so much fun! I went out and I first started selling a little coaching program for 15k a year. I got 3 clients right off the bat! I was beyond excited.

Until I let my head get too big for my shoulders.

I was also working on branding. I was building out a website that I thought would automate everything. My plan was to do a million dollars in revenue in 6 months!

I had my plan in place, I was ready to take action! I was going to make this happen!

Oh, and by the way, I was special because I had 10 years of coaching and training with other companies helping them do all this!

So with my head too big for my shoulders, I began to backpedal.

I went to the 3 clients WHO I ALREADY SOLD and said thank you so much for believing in me, but I don’t want to TRADE TIME FOR MONEY. I decided NOT to do this coaching program.

I went and UNSOLD $45k worth of business because I didn’t want to trade time for money.

So I started focusing on my website. I focused on my event. I worked through what I thought was important to get me to the almighty goal of $1,000,000.

And I continued to trade my time for no money.

I was investing in my company, and in my self.

I bought into the dream, and into the vision, of what we were creating.

I knew that I could make it work.

My wife and I sold our house and moved across the country, from Boise, ID to Orlando, FL. We used all the revenue from selling our house to both move, and build the business.

We had 2 cars, but I sold mine. We used that money to feed the business.

We had money spread out over 5 different retirement accounts…

We closed 4 of them, to feed the business.

We invested in experts in their field to help us grow and launch our company. We invested in Facebook ads to get our name out there, and we invested A LOT.

We put together an amazing funnel! It did a ton for our business, for our notoriety and building a list, but what it didn’t do was bring in cash.

My downfall was that I focused on building a SCALABLE business. I should have first focused on building a business.

In July 2019, I made the decision not to force what I was doing, and to go back to doing what I loved and was good at.

Helping people. Coaching people. Being a cheerleader for people. Sharing my belief and empowering people.

I started focusing on building an unscalable business. A business that would give me the time and financial freedom to build a scalable business.

So, I’m advocating building an ‘unscalable’ business. What do I mean by that? Yep, that’s right…starting out by trading time for money. By applying your unique area of expertise to your prospects problems.

I know…I said I hated trading time for dollars. But remember my mistakes? Life has a way of showing you, from your mistakes, the right way!

I went back through everything I had learned. Everything that I had experienced in my life, and I realized where I made the vital mistake. I transitioned from building a business to building a scalable business.

In doing that, I created a very simple 4 step process to building a company. I found that this process is how most local businesses and small businesses are built.

Have you ever met a contractor who worked for someone, and a friend asked them to do work for them? They did the work, and then realized they could keep doing it?

Know someone who has experience with taxes and started doing others taxes? Then they built an entire business around it?

Know someone that got hired by another company part time for some consulting work? Then they created an entire consulting company from the experience?

So let’s dig into the 4 steps that it takes to create your own business.

Step 1: Create an Unscalable Offer

You are a ROCK STAR. You have skills, and experience, and understanding that no-one else has. Use this to launch your business. Dive deep into what you have done for people in the past, and can continue to do now. Throw everything you can do on a piece of paper. Doesn’t matter how crazy it sounds, or what it looks like. You will start to see where it would fit to solve a problem for another company or person.

You want this to be a SERVICE (Not a product). The goal is to create an offer that you are trading your skills and experience, and even your time, for money. The goal is something that is low overhead, high margins.

Your unscalable offer is what will take the burden of ‘how do I provide for myself and my family’ off the table. Yes you will trade time for money. At least you will do it under your conditions, and not through a job.

Step 2: Identify your IDEAL client

This is NOT about who could buy your product or service, this is about who you WANT to work with. This is about identifying the problems they are facing. What are the fears they are feeling, and what they are struggling with. This is about the psychology of what they are going through. This is about understanding who they are, and where they hang out. You want to get a clear picture of them. If you don’t have a clear picture of this person, it becomes almost impossible to find them.

Step 3: Prospecting

Once you know who your ideal client is, now we focus on getting in front of them. Do not make this harder than it has to be. You should START with your warm market. Figure out exactly who you are looking for, and then start asking for referrals. Go out there and start connecting with people. Go out there and find people that you can serve at a higher level,  and start the conversation.

Step 4: Close the deal

Prospecting is painful, but if you will get persist, you will get appointments. This is the point where you enter into the sales process. This is where you go from being unemployed to a business owner!

When it comes to sales, it is vital to remember that no-one actually cares about the offer you created. They don’t care about your history or your experience, they don’t even care about you! What they do care about are the problems that they are facing. They care about where they are struggling. They care about solving those problems and overcoming those obstacles.

Keep the sales call focused on your prospect. Keep it focused on their pains, and keep it focused on solving those pains.

I want you to take a minute and think about this process…

What are you doing throughout this process?

Where are you focused?

What type of problems will you run into?

Most people out there want to sell the sexy lifestyle of business ownership.

They sell the cool cars and the big houses and how you need to automate and systematize everything.

What they don’t sell you is the truth.

Starting your own business is hard.

It’s a simple process but you have to focus.

A lot of people will have you believe that you need to get your logo figured out, or your branding package.

Oh and you must have a website up!

Oh and you can’t forget about business cards!

Oh and don’t forget to set up billing and your bank account!

Oh and you need to be sure you have the best equipment to create your podcasts and videos!

The truth is, when you are starting a business, you need to focus on one thing, and one thing only: sales.

Don’t over complicate this.

That’s what I did. When I first started my business, I over complicated. I attempted to live the dream. I wanted what others have spent months and years creating. I didn’t want to take the time to do it the right way.

I’m not saying it isn’t possible to start a business designed to scale, I’m saying it is way harder than you can even imagine!

Simplify the process. Go back to the foundation of what has worked in the past. It will continue to work throughout the course of history.

Use your skills to solve people’s problems, and charge them for it.

If you need help starting your business – I’ve got a free course that walks you through these steps. Let me know and I’ll send it to you!

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