Ruth Kusemiju walks through 11 steps to turn a business idea into action: define your market, set goals, identify customers, build marketing systems, price your offering, plan distribution, choose advertising channels, design sales processes, create promotions, track metrics weekly, and consult experts. Her framework moves you from concept to execution.
Chapters
Okay, so who is ready for some lessons? Yes, yes, I finally decided that my motto as Social Media Boss Lady is to learn, implement, and then to teach. All right, so basically that's what I'm going to be doing with my videos. I'm going to be teaching you every single thing that I know. Yes, so yes, Social Media Boss Lady, entrepreneur. All right, so So today, um, I, I did say earlier in one of my videos on Twitter that the world is desperate for entrepreneurs. Yes, and as entrepreneurs, there are ways that we can actually create success, that we can create wealth. It's either we find value or we create value. Okay, so as an entrepreneur, definitely there is a thought process that you need to think through, and when you are crafting out your idea that, okay, I want to go into this business, I want to do this, I want to do that, so How do I get started? So I should put down a couple of things that would guide your thought process, and like your step 1, step 2, step 3. I think I have about, let's see, how many steps? H is 8, I is 9, so I have about, it's 6, 7, okay, hold on, hold on, hold on, hold on, hold on, 5, 6, 7, 8, 9, 10, 11. I actually have 11 steps for you. Yes, on the step-by-step things you need to do as an entrepreneur to be able to get you from point A to point B. Hope you're ready. I know you're ready because if you're not ready, you would have stopped this video and kept on scrolling. But so first thing is that you need to define the big picture. So ask yourself, so basically, as an entrepreneur, if I'm going to go into this, um, arm of business or whatever it is, a consultant, or it could be, um, um, a reseller or, or supplier or something, whatever it is that you want to go into, ask yourself, so what are the conditions that would affect my business this year? Define the big picture, identify an opportunity, and identify a challenge. Find out things like how the economy is. Find out who are your main competition. Also find out the technology that's in vogue, that's the in thing. Yes. Also, basically, work through the big picture. Highlight these points. And then the next thing would be to map out your destination. So what are your business goals for the year? What are your business goals for the year? Find out. Craft financial goals like, what would be my first year sales goal? Or you could ask yourself, um, um, how much would I put into marketing? How much am I going to spend on overhead? Um, what's my estimated profit or loss? Stuff like that. Okay, so when you— that's the financial goals. Yes, apart from the financial goals, the next thing you could also have some additional marketing goals like, okay, so what's the total number of units or products or services that I would like to sell this year? Um, how many customers would I like to have in my database? Um, um, you ask yourself, how can I improve my product or my service quality? Also ask yourself, um, how do I improve my cost per sale? And also If you are a philanthropist and you like to donate to charities, you could ask yourself, so in a year, how much do I want to donate to charities? So basically, 2 is your destination, which basically has to do with defining your business goals— long-term, short-term, medium-term. Just define your goals. 3 would be your customers. So, um, map out who are my customers. So what you can do in this case is that you would interview successful people You could interview successful people in your industry who are not your competition and find out from them, one, how does the perf— what does the perfect customer look like? Yes, find out from them what's the age. Try to find out the age, um, the sex of your customer, the occupation, their income level, where are they located. And also, in defining your customers, you need to also ask yourself I mean, yes, you interview people, yes, but you also need to do your own market research and ask yourself, what does my perfect customer want? That's my ideal customer. What do they want? Um, which of my products or services would my customer value the most? Yes. And, um, so basically this is defining who your ideal or target customer is. So that's step 3. So step 4 would be your marketing systems. So given the fact that you know your ideal customer's wants and you know who your competition is, you know their products, you need to find out how can my products or how can my product or my service be positioned to be superior to theirs. Basically, all I'm asking you is what's your USP? What's your unique selling proposition? What's your ultimate advantage? Do you have a sensational offer? Do you have a powerful promise? How different are you from your competition? Why should your ideal customer do business with you rather than your competitor? So that's step 4. Step 5 would be pricing. So you need to figure out how you package your products or package your services to be perceived as superior, that has super value as compared to those of your competition. Okay, that's step 5. So step 6 would be distribution. So also you need to find out and figure out in your business as an entrepreneur how to profitably and promptly deliver your products and services directly through whatever means that you see possible. So 6 is distribution. Okay, and And, um, that's distribution. So the next step would be advertising and publicity. So basically, this— I'm outlining for you each step as an entrepreneur that you need to take in order for you to take your idea from point A to point B, which is the finish line. Okay, advertising and publicity. And I'm talking of things like radio, um, what radio ads Social media advertising, newspaper, TV, whichever one you can afford, direct mailing. So basically you need to figure out the channels that work for you in order to— that leads you, or rather that would direct you to, or would attract your qualified leads to you, qualified customers, qualified target audience to you. So So you need to figure out the channels that you would use. And in figuring out the publicity channels, you also need to know which channels definitely would, um, give you the lowest CPL, which is the lowest cost per lead, because definitely you need to find a way to work. Yes, work hard, but work smart, cost-effective. I mean, if you're an entrepreneur, you're just starting out, look for cost-effective means. I basically like to call them growth hacks. Simple growth hacks that can actually help you get the desired results that you need without burning a hole in your pocket. Yes. And so basically, your cost per lead has to do with how much you spend on advertising divided by the number of people who respond to your ads. Okay. All right. So we're going, and then the next step would be personal selling. So you You need to also figure out the process, the system that you would use to be able to convert your ideal prospects or ideal— yes, your ideal prospects to becoming— or your ideal leads to becoming paying customers. So are you using telemarketing? Are you using the internet? Are you using face-to-face? Are you using social media groups? Or are you using wholesalers? Are you going the whole mile in, figure out basically how you are going to do personal selling. So, um, in figuring this out, you need to know also, just like in advertising and publicity, you also need to figure out the channel that will give you the lowest cost per sale. So basically, that's you find out what you're selling on, you're spending on advertising, what, um added to what you are— what it costs to sell your product divided by the number of sales that you have, it lets you know the channel that gives you the lowest cost per sale. Next has to do with your sales promo. Now, your sales promo, basically, these are special offers that will help stimulate purchases for your products. And you could have first-time trials, maybe give them a 14-day free trial or 30-day a free trial of your product or your service. Um, the last two which I have, because I'm keeping to time here, um, you could also track, um, your marketing information. Basically has to do with tracking and analyzing your weekly marketing activities, measure your progress towards your one-year goal. Are you reaching that goal? And last but not the least is consult experts to help you maximize your marketing. So basically, these are the 11 steps that you need to use to get started as an entrepreneur. All right, so I hope that was helpful. If you have any questions on these 10 steps on how to get started, or even how to start defining who your target audience is or whatever, just reach out to me, Social Media Boss Lady. My name is Ruth. You can reach out in the comments below, and I definitely would answer your questions. So that's it. Take care, guys, and I will see you again next time. Bye!
