Building a MoneyMaking Machine / Blueprint / 5 / 2
Welcome to Lesson 2, and in lesson 2 we are going to look at the digital?product creation process.
In the full course, I explain to you the 7 step process to start and to grow a multi-million Rand digital business.
But for now, let me give you a process that you can follow?in order to get started.
There is a?Niche, a problem, a solution?a system,?and?an Action. When we look at the Niche, the question you need to ask is...
Where can you immediately make money?
This refers back to the previous lesson. So where and how on earth … What is the lowest hanging fruit.
Where in this niche that you`ve got, can you immediately start making money?
When we look at the problem, the question that I`d like you to ask is…
What is something that you can solve with the?minimum amount of effort and time?
a Big big problem that you can solve very very quickly with the minimum amount of time and effort. This boils down to the skill sets that you`ve got, the competencies.
But what if you do not have any competencies?
or you feel like you`ve got no competencies.
This is a reason why in the previous module I gave you access to the WordPress platform, and actually taught you that.
Because I believe that of all the skills that I know, there are 2 skills that are extremely important.
That you can learn over a very very short time. One of them will be a digital product.
The other one is copywriting, but that takes a little bit longer. The moment that you know how to build a website. Remember that I told you that 70% of all the businesses that have got websites do not know how to control their own?website.
They`ve got other people to control those websites. Now just imagine what that means. It simply means that there are millions of people?out there that have got websites where they (the 15%) handle it.
But they`ve never gone through a course to learn to actually do it. It`s just a website and it is there, and no one really cares because they don't know how to market this thing.
So it is sometimes just a 1 pager or a blog. Now the moment that you`ve got the skill that you can learn during this course.
You can go back to those people. And this is exactly what my students are doing and in the process of making in their first run something like R10 000 plus - R40 000?/ month.
Now that to a young lady, that is 19 years of age, as one of my students have done. I think that is fabulous, taking into consideration that she had no job before that. Then that changes everything for that person.
And this is what I want you to do. Go and have a look, at where and how can you create, use or learn a skill.
So that you can go out and apply that immediately. The next one is in terms of the solution.
How can you make an immediate improvement?in their lives?
Because the moment that you are going to make an improvement they will gladly pay you for that service that you are going to provide.
What about systems?
How will we do this over and over again to make success inevitable?
Unless you are going to have a platform, like a client management system.
You will have to do this over and over. So you will have to build in a system. Now there is something else.
This is on level 3. On a level 4 you are going to upgrade?that system to what we call?a Custom Relation Manager (CRM)
It is actually your key stakeholder management system.
Because every single process, every person involved in that business. Can be managed through your?client relationship manager.
Now unless you`ve got?your client management system. And this system?can talk to it. You will not be able to build?a money-making machine. And be able to roll these products out.
What about action?
How will it guarantee that you implement this?
And start making a profit?
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I like to tell you what I`m doing, I`m following my blueprint.
I`m going to give you this little image here?and this is the Vision pie.
I`d like to explain that because...
This is where the action should be focussed on.
The first part is the center or the core idea. That is what the market needs and you?are going to provide to the market in terms of the solution or product.
But if you look at this in total, you are going to find from running a business.
This is 2-3% at most of the business. Ok, so although it is very important. Because without this core, this center.
What everything evolves around. But in terms of the time and the competencies?that you need in order to start this. This is very very little?and you actually need no competency.
You just need to have the idea. This is also why a lot of people get confused, they say it is a multi-million dollar idea.
And the ideas are there because the idea is only 2-3% of the total business.
The 2nd part is?the inner circle. This is the white area. This is the strategy.
In other words, this is the design or the blueprint?that we are going to run?and there are different sections to this.
Now in this diagram or this image, I`m showing you like 5 but in real life, there is at least 8.
Sometimes even more depending on the industry?that you are in.
There are;
So we can see that this is 20%. So the blueprint, if someone gives you the blueprint.
They`ve actually given you only 20% of the total business of the processes in order to become successful in running a business.
Because of the 3rd part. the blueish outer circle.
The outer circle is the tactical execution level. 70-80% of your business will happen at this level. And this is where you?develop your competencies.
You know by improving your?skills. The knowledge and the application of that knowledge as well as the experience.
This is also where you are going to set up the processes. The procedures in order to build what we call the policies that are going to create the systems.
And it is because people do not understand the tactical side. In other words, how do I implement it?
How& What do I need to do? and When?
That is why so many businesses will fail. People are good at the strategy?or on part of the strategy.
For example, they know how to set up IT systems. But the rest is not in place, because of that they will not have a business.
So when we look at the informational product, what is it?
In other words, we can summarize it by saying that informational products are specific solutions to specific problems. And by now we know that you don't create informational products. You create solutions to problems. And you package that within the product.
So the key insight is, you don't create informational products. You create solutions, and then you package those solutions into products. And because of the 5 different modalities, that people have. In other words, the way that they learn. We use the same 5 modalities in order to teach.
But the wonderful thing about digital products is, each and every method that we use to teach will be different and therefore we actually create different products from the same solution.
So in the next reading, I`m going to give you a fabulous product creation framework. This is for a basic product. The one I teach in the course is much more advance. But it is a basic framework that you can use immediately to implement that and to start creating those products.
For more information on the Wealth Creators method;