Live Q&A: Will Anyone Actually Buy My Offer?

One of my favorite parts of having this show and connecting with all of you is getting to answer your questions. Today we're talking about the common question: Will anyone actually buy my offer? Am I actually ready to make this investment and bet on myself? If this is where you find yourself, tune in for ideas for your business and how you can make it work.

We're talking about the ways that you can test and prove a potential business idea. There are ways you can test-drive your new ideas to see if they will be able to produce revenue and income.

What you'll hear in this episode:

• What’s the obstacle in your way of driving this forward?
• Do you have an existing business that you can leverage to take care of the structural elements?
• Why you need to get an LLC to protect yourself.
• Is there a way to offer something similar to this offer while reducing the level of risk and commitment?
• When the stakes are low, there’s just a different presence.
• The dangerous part about hosting events is if people flake out.
• Find the worst reviews of all of your peers and do the opposite.
• Invest in visibility and reliability right now.
• The more reps you put in, the more you’re going to get results.

Here are some brief snippets from this episode:

[00:01:44]
Jen is a certified life coach who is launching travel retreats for women. The retreats will incorporate coaching for women, retreat coaching and adventure travel. Jen is excited about giving back to the communities where we visit as guests.

[00:02:47]
I love coaching women. But I was finding that sitting in front of my computer on a zoom call all the time, coaching woman just wasn't really lighting my fire anymore. So this idea had been calling to me for a while of travel retreats. And I said, okay, I love it.

[00:03:42]
What phase of business are you in? Have you done anything with these retreats so far? Or are you just starting the business out? Early stage? Totally early stage. Just starting to business out, planning out my itineraries.

[00:04:02]
A business like this needs some significant investment of capital, right? So from marketing everything, from marketing the trips to legal and business infrastructure. So very much a money issue and a mindset issue at the same time.

[00:05:14]
Until you have significant assets in the business, you don't necessarily need to incorporate or have an LLC. You could reduce the administrative and financial burden a bit by putting it under one business. Do I think you should get an LLC to protect yourself? Probably.

[00:10:34]
Life coach says he needs greater outreach than just to his current audience and clients. He says it's really about acquiring audience and making sure more people are aware of what you do. Here are ways you can do that.

[00:12:04]
Is there a way to offer a retreat while reducing the level of risk and commitment and therefore pressure? Can you do something more local? I would advise anyone who's thinking of hosting an event to do something small scale. Lesson, learn the lessons when the stakes are low.

[00:18:37]
Where do I focus my time, attention, energy and money right now before I launch it? There's so much to do. One of the big things that I feel like is important to start off with is a really polished website and really polished copy. So it's a year around spending.

[00:20:18]
A copywriter is one of the best investments you can make in your first year of business. It's like you have to do the legwork first to really get clear on that ideal customer. The closer you are to nailing that, the easier it is to get a copywriter to do what they do.

[00:28:22]
Executed that. That's how I approach a lot of things in business. The more reps you put in, even if you quote unquote, fail, it's like, cool, get up, let's do it again. And you're going to get to the one that wins a lot faster if you can take action tweak.

[00:29:00]
You can get results improve really fast by offering something at a smaller scale quickly. By running some smaller things, whether it's in person or even virtually. Building that trust, making them feel like results will be nearly guaranteed. Do that on smaller scales leading up to something on a larger scale.

[00:32:32]
You could be missing out on massive tax savings that you get from making the escort tax election. I put together a completely free calculator and questionnaire to see if this tax election may be a good fit for your business. Click on the link in the Show Notes to find out more and compute your estimated tax savings. 

Related episodes:

155. Finding the Right Advice with Mike Jesowshek, CPA

160. How to Manage a Business with Multiple Owners with Jeremy Wells, CPA, EA

183. Is it Too Late to Elect the S Corp?

Resources

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.