The Entrepreneurs Mastermind

4 Week Mastermind

Every Tuesday 19:00-20:00

Start Date: 13th August 2024

 

The Entrepreneurs Mastermind

 

A comprehensive course led by Ste Hamilton that will guide you through mastering the realm of entrepreneurship. It is divided into four stages, encompassing all the essentials required to successfully operate a business in any sector, from setting up a limited company to making your first sale.

 

Stage One: Starting A Business & Market Research

Starting a business involves a series of strategic steps, with market research being a pivotal component. Market research helps entrepreneurs understand their target audience, identify market needs and evaluate the competitive landscape. By gathering and analysing data on customer preferences, industry trends and potential barriers, business owners can make informed decisions that enhance their chances of success. This foundational knowledge allows for the development of products or services that resonate with consumers, ultimately guiding the business toward sustainable growth and profitability. This stage will cover the following topics:

The Set up

·      How to set up a business

·      Understanding SIC codes and which one is right for your industry

·      Registered addresses

·      Opening a business bank account

·      Is an accountant required at this stage? How to choose the correct accountant to ensure they are suitable for your industry

·      Estimating startup costs

·      Understanding any laws or regulations within your sector

·      Obtains licenses, authorisations or insurances

·      Creating a business plan

Generating Your Ideas

·      Are you selling a product or service?

·      What are you going to be selling?

·      Defining how you are able to add value to your customers through your product or service

Market Analysis

·      Identifying your target audience and defining your ideal customers

·      Identifying any market gaps

·      Analysing the competition in your industry (their price points, target demographic and marketing strategy)

·      Carrying out focus groups or conducting surveys within your sector

·      SWOT (strengths, weaknesses, opportunities, threats)

 

Stage Two: Creating Your Blueprint & Getting Your Brand Out

Creating your own business blueprint involves meticulous planning and a clear understanding of your vision, mission and goals. You have already identified your target audience and conducted market research to pinpoint their needs and preferences in stage one. Now you need to develop a unique selling point (USP) that sets your brand apart from competitors. Craft a comprehensive business plan that includes marketing strategies, budget forecasts and a roadmap for growth. To get your brand out there, leverage social media platforms, build a professional website, and engage in networking opportunities. Consistency, authenticity and adaptability are key to establishing a strong brand presence and achieving long term success.

 

Developing An Identity

·      Choosing company colours

·      Creating a logo

·      Creating your company ethics and a slogan

·      Clear guidelines on branding and how you want your brand to be perceived by customers

·      Developing a website – are you able to use a platform such as shopify?

 

Implementing Strategies

·      Creating a marketing plan

·      Getting digital marketing strategies in place

·      Integrating platforms to aid in digital marketing, such as ClickSend, Go High Level and Klaviyo

 

Content

·      Content production – making sure your branding is strategic and consistent

·      Will you require photography or videography

·      Creating a content schedule

 

Raising Awareness

·      Building a presence online or in person

·      Paid ads – social media, google ads, pay per click

·      How to gain interest in your product or service – attending networking events

·      What platform will you be promoting on? Instagram, TikTok, Facebook, YouTube, Google?

·      Partnering with influencers or industry experts to get your brand out to a larger audience

·      Understanding affiliate marketing and generating affiliate links

·      Do you require third parties to aid in marketing and branding? Such as, web developers, marketing agencies, ad agencies.

 

Stage Three: Sales & Customer Engagement

Sales and customer engagement are two crucial components of any successful business. Sales refer to the process of selling products or services to customers, driving revenue and growth for the company. Customer engagement, on the other hand, involves building and nurturing relationships with customers through meaningful interactions, ensuring their needs and preferences are understood and met. Effective customer engagement generates loyalty and encourages repeat business. Together, these elements create a synergistic effect that propels a business forward.

 

Pre Sales Planning

·      Sourcing or creating your product or service

·      Creating a sales funnel

·      Understanding what you will be relying on to get sales? Will you be solely using paid ads, will you require sales staff?

·      Will you be selling in person or online?

·      Ensuring you have the correct backend set up to facilitate sales – a website that’s able to take orders, card machines, shipping methods

·      Creating a customer journey – pre sale, during sale, post sale

·      Having a solid sales process in place including automated emails and text messages

·      Creating an easy journey for your customer whether they are buying in person or online – a simple checkout process and user friendly website

 

Building A Team

·      Do you require a sales team?

·      What will the team consist of?

·      How to build and manage a sales team?

·      Do you require a customer service team?

·      Identifying roles and responsibilities of the team

 

Post Sales

·      Ensuring the customer is happy with the product or service by generating automated follow up emails or text messages with the option to leave a review

·      Utilising reviews – using trust pilot and google reviews to gain trust in future customers

·      Offering existing customers incentives to repurchase or upgrade

 

Stage Four: The Execution

Executing a business involves a series of strategic steps aimed at turning an idea into a profitable venture. It begins with thorough market research to understand the target audience and industry landscape. Effective management of resources, including hiring skilled employees and establishing efficient processes, is crucial. Marketing and sales strategies are implemented to attract customers and drive revenue. All of the above have been covered in the previous stages, now it’s time to implement evaluation and adaptation to ensure the business remains competitive and sustainable in a dynamic market.

 

A Business Overview

·      Are your systems working?

·      Do you need to hire staff?

·      Is your sales funnel effective?

·      Can the business spend more money to generate more income?

·      Profit forecasting

 

Improvement

·      Gathering customer feedback and actioning any constructive criticism

·      Keeping up to date with competitors and market trends

·      Is it time to hire a professional PR and marketing agency?

·      Maximising profit

·      Business mentors

 

Scaling The Business

·      Streamlining processes to ensure efficiency

·      Investing in automated methods of communication

·      Expanding products or services you offer
Are you able to introduce new marketing methods or gain further exposure via collaborations

·      Franchising

 

Join us for 4 intensive weekly zoom calls packed with valuable insights from this top tier mastermind!