5 Key Questions Every Entrepreneur Needs To Be Able To Answer To Build a Thriving Business
Are you dissatisfied with your current job, and are you looking for ways to make money online?
Or are you an entrepreneur who’s looking for ways to create multiple streams of passive income?
Whether you’re learning how to start a successful business or a rising entrepreneur, you’re in the right place.
There is no better time to create a digital course business, one that systematically allows you to automate a sales funnel so that you build a thriving business working less and earning more.
Over the past few years, I have helped countless entrepreneurs start and scale their digital course businesses.
Some of these entrepreneurs were looking for ways to start a small business and make money online by leveraging their expertise, and they realized the possibility of building a thriving business from pre-selling an online course.
In no time, by turning their expertise to online courses, and self-published books, they started making a bank, pushing some of them into the 7-figure zone.
But first, there are five (5) key questions every entrepreneur needs to answer to build a thriving business.
The 5 Key Questions Every Entrepreneur Needs To Be Able To Answer
Q1: Who is Your ICA? (ideal client avatar)
Understanding who your ideal client is paramount to hitting your sales number.
Your Ideal client avatar (ICA), also known as a customer profile, represents your perfect customer or client who needs, wants and can afford your products or services.
One of the biggest mistakes business owners make today is to focus on the product or services they offer and paying little or no attention to what it is their customers actually want.
To help you identify your perfect ICA download the ICA Success Sheet now.
Q2. What Problem Will You Help Your ICA Solve?
Think about the pain points, the challenges in your ICA’s life. Knowing what your ideal client is struggling with can spur new product ideas or services to help solve their problems.
For example, let’s say that you’ve identified your ICA as Andrea, mother of two, a real estate agent who wants to look and feel her best and avoid burnout while building her business and raising kids.
Andrea is having a challenge of having enough hours in the day to help her clients find their perfect first or next home and have enough energy left over for the family when she gets home.
Let’s say that you are a health coach who helps busy moms balance their hormones so that they avoid burnout.
The insights about who your ICA (Andrea) is and what she wants, matched with how you can help her will help you develop your first or next paid offering.
Having identified your ICA’s key problems will help you decide which one you want to help her solve.
Q3. How Will You Help Your ICA?
Having identified what your ideal client is struggling with, the next step is for you to offer ONE solution.
Get clear on exactly how you will help your ICA solve their problem.
Will you offer 1-to-1 services, a digital course, send her a copy of your book, host a webinar, invite her to join your group coaching program?
What ‘vehicle’ will you use to drive her from where she is (in pain) to where it is she wants to go?
Q4: What Results Will Your ICA Achieve by Working with You?
One question every entrepreneur should not forget to ask is, ‘what transformation will my ICA experience by working with me?’
Remember to focus on providing a transformation, not just information. Information is free. Your ICA will choose to do business with you if they see you as a trusted guide who will help them successfully navigate their current problem.
Focus on writing one power promise statement that will clearly convey to your ICA the key results or benefits they’ll experience by working with you.
For more info watch this episode next:
Q5. How Can You Get in Front of Your Ideal Client on a Regular Basis?
At the end of the day, business is a numbers game. The more prospective clients you have the more chances you’ll have to close a sale.
But closed sales, don’t just happen, they’re built on trust.
So ask yourself, “where does my ICA hang out?” and “how can I get in front of them on a regular basis?”.
Once you’re able to answer these questions you’ll be able to click into place your marketing sales funnel a bit easier.
When don’t correctly and leveraged with automation tools you can begin to get a steady stream of new clients non-stop.
For more information on what a marketing sales funnel is and how to set up a marketing funnel be sure to check out this episode next:
What To Say To Your Prospect Client About Yourself and Your Business?
Elevator Pitch Template:
The answers to these aforementioned questions will help you decide which elements of the marketing sales funnel you need for your business.
Here’s a template to help you answer the questions easily:
Typically my clients are ____(ICA - Answer #1). Who are struggling with _________(answer #2). I do this by ________(answer #4) to get them ________(answer #5).
Growing a profitable portable digital course business takes focus, but with the proper elements clicked into place, you’re sure to thrive.
For more help starting or scaling your digital course business, be sure to register for our latest free training session.