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The 5 Things Every Entrepreneur Should Know

Written by PracticeB

July 15, 2023

By now you guys know that right after my love of AI and ChatGPT are frameworks. I like to categorize things.

Today I want to share what I consider one of the most valuable lessons I learned along my journey.

In my true style, I have called it F.A.C.T.S. where each word represents a key to business success.

Get The FACTS

And in case you think that I am pulling this out of my ass. This came after reading what could be hundreds of books (okay maybe like 50) taking many many online courses and attending many business conferences and events both free and paid. And the conclusion I came to is summed up in these 5 key areas.

I am still working on the best way to use it in sequence but I will share with you the concept that I am working on.

So here goes

  1. F – Funnels
  2. A – Attractive Offers (or Irresistible Offers)
  3. C – Copy
  4. T – Traffic
  5. S – Systems and Automation

Funnels

Sales funnels has been the biggest game changer for me.

When you learn to think about your customer journey and build a flow for them or a step by step process that they can follow it not only improves the customer journey but allows you to measure and track your progress.

Funnels are all about giving your customer a Yes or No option by means of a button click or putting in their name and email address. It simplifies the message you put in front of the customer to see if it resonates or not. You can make changes to each piece to increase your conversions.

Attractive Offers

Again another game changer. Attractive offers are all about understanding what the customer wants and giving it to them in a way that the competition is not. It’s not about selling dreams it’s about communicating to the customer what they need to get to where they want to go and giving them the option to choose you.

Copy

The funny thing with copy is that people think they need to be a professional copywriter.

Instead, I have discovered that you simply need to speak the language of your audience and present it in a particular way that they can understand because you are answering the questions they may ask in a sequential way.

And with AI tools this has become even easier but you still need to understand how to connect with your audience by the words you use to communicate with them.

Traffic

Good ole traffic!

What’s a business without traffic? Foot traffic or online traffic.

A business needs people coming to it in order to stay in business.

Therefore every entrepreneur should understand how to attract customers (the right customers) to them.

Systems and Automation

We only have so much time in the day.

Especially as solopreneurs, working full time, and taking care of our families we don’t have time to waste. But we want the ability for our business to scale.

When systems and automation are coupled with the concept of the funnel, magically things happen. You are able to give a customized and personalized customer journey to every customer that comes in contact with you.

Here’s the best part.

It happens automatically without needing you for EVERY interaction.

It allows you to create balance in your life.

Conclusion

These are the most important concepts that I believe every entrepreneur should strive to master.

Knowing how they work together can save you a tremendous amount of time, energy and resources. Not to mention frustrations around something not working in your business and you aren’t sure what to do. These are your life savers and north stars in your business.

Unleash Your Potential, Practice Your Success

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