Startup 80/20

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https://www.martynbromley.com/

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This document provides tips for starting a successful business, including identifying customer needs, understanding the market, and packaging the offer. It also includes a hierarchy of competence for skill acquisition.

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#1. You don't have something people want (product)

#2. You're selling to the wrong people (market)

#3 people don't understand the way you are conveying what you have (messaging)

Start a business in an industry you already have experience in

You get the Customer

Understand what they want

Understand their needs

Understand what they do and don’t like to buy

What market do I start with?

What customer do I know best?

Where do they hang out? FB LI YT?

Skill Acquisition 80/20

HIERARCHY OF COMPETENCE

UNCONSCIOUS INCOMPETENCE

YOU SUCK BUT YOU DON'T KNOW THAT YOU SUCK

CONSCIOUS INCOMPETENCE

YOU SUCK BUT YOU ARE AWARE THAT YOU SUCK

CONSCIOUS COMPETENCE

YOU KNOW WHAT GOOD LOOKS LIKE AND YOU ARE GOOD

UNCONSCIOUS COMPETENCE

YOU'RE SO GOOD YOU DON’T NEED TO THINK ABOUT IT

Sales - If you can sell to them then you can market to them

Marketing - Demonstrate what you have is what they need

Packaging the Offer - UNDERSTANDING HOW YOU PACKAGE THE PRODUCT FOR THE PEOPLE YOU'RE SELLING IT TO

Packaging = Pricing + Features

Is the offer conducive for the market were selling to?

Weight loss → Age Group → Life Stage → Condition → Outcome → Pain → Goal

Offer = Price point + Features

Starting out focus on;

1 Product

1 Avatar

1 Channel

Who do you cater to? And at what point in their journey do you provide value