Amy Porterfield wrote a book focused all about starting an online business in order to quit your day job.
🧁 The Sweet Spot
What kind of business are you going to create?
She coined this term called the "sweet spot" which is an intersection between (4) things:
- ⬆️ 10 percent edge - where you are 10 percent ahead of the average person in the subject
- 🥊 A struggle - people are willing to put time, money and effort to fix this struggle
- 💸 Profit potential - there are books, podcasts, and groups focused on this struggle
- 🌟 Passion - this topic lights you up
Now that you found a struggle your business is going to solve, its time to build a customer avatar. An avatar is basically a person who represents your ideal customer.
She suggests setting up 20 minute meetings with potential customers and ask them these questions:
- What is your biggest pain point when it comes to ___?
- If you were to purchase from me, what would be holding you back right now?
- What type of content do you consume (books, podcasts, tv)?
- What do you do for a living?
- Who inspires you? Who are your favorite influencers?
- What events do you go to?
- How do you come across ___?
📩 Grow Your Email List
The author talks a lot about growing an email list. Mainly because if Twitter, YouTube, or LinkedIn shut down, all that effort is wasted. You have no way to contact anyone.
She suggests working on lead magnets - basically giving things away for free in exchange for an email.
What can you give away for free?
- 🗒️ Cheat sheet
- ✅ Checklist
- 🗺️ Guide
- 💻 Training
- 🎬 Mini-course
- 🥊 Challenge
- ❓ Quiz
This is something I struggle with. Finding the time to build free digital products is hard. Otherwise everyone would be doing it!
Now how do you actually pull this off?
You use Canva and ConvertKit. You build the things in Canva, and then you use ConvertKit to handle the exchange. They have automations you can build that take care of the whole thing.
Here is a whole tutorial on how to set up these automations 👇🏽
🔑 Key Takeaways
Find something you are 10% better at, make sure there is a market for it, and then build an email list by using free lead magnets. Then eventually sell in depth content for a fee.
Here is mine:
- I read 40-50 books a year, so I think I am 10% better at book reading than most
- I could build: Cheat sheets on my favorite books, checklists of the best books to read, guide on which books I would read if I were ___, and even a training on some of the best tips from books
- Then I could sell a paid course
Easier said than done, but its a solid plan!
🎬 Full Video
I have a full review of the book, and even show you how to use Canva and ConvertKit.