Module 1: 5-Step Vision Creation Exercise1/Module+1.pdf · Module 1: 5-Step Vision Creation...

Module 1: 5-Step Vision Creation Exercise

1©Lori Kennedy Inc. 2015 & Beyond

What You Will Learn

• Why You Need a Vision

• Questions to Ask Yourself

• 5-Step Vision Creation Exercise

• Take Action


Entrepreneurship“Entrepreneurship is the pursuit ofopportunity without regard toresources currently controlled.” –HBS professor Howard Stevenson

“They see an opportunity and don’tfeel obstructed from pursuing itbecause they lack resources,” saysStevenson. “They’re used to makingdo without resources.”


A VISION STATEMENT IS A WORD PICTURE THAT

PROVIDES THE INSPIRATION AND FRAMEWORK

FOR BUILDING THE BUSINESS OF YOUR DREAMS


Why Do You Need a Vision?

• Where do you envision yourself to be in 90 days, 1 year and 5years from now?

• A vision provides the framework for setting goals and creating astrategic plan

• Having a vision helps to guide decision-making

• Dictates your daily, weekly, monthly and yearly actions

• Points you to a final destination

• Gives you the motivation to succeed

• Written as if you already achieved it


Questions to Ask Yourself

• What is the end date of your vision – 1 year, 2 years or 5 years?

• How will you know if you are successful?

• What does it FEEL like?

• What will you be spending your time doing?


Questions to Ask Yourself

• What would you do all day long for free?

• What do you refuse to do?

• How do you want to spend your time?

• What does your desired lifestyle look like?

• What are you willing to sacrifice?


5-Step Vision Creation Exercise

• Step 1: Pick a time frame (5 years)

• Step 2: Make a list of accomplishments – focus on the positive

• Step 3: Use the answers to your questions to write the first draft –write in the present

• Step 4: Review it. Rewrite it

• Step 5: Share it and reread it daily


Module 1:Create Your Client

Avatar


What You Will Learn

• What Is a Client Avatar

• Why Your Success Dependson Your Ability to ClearlyDefine Your Ideal Avatar (nichemarket)

• 10 Steps to Find Your IdealClient Avatar

• Take Action

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What Is an Ideal Client Avatar?

• A detailed description of a specific type of person, including theirdemographics and psychographics

• A well-thought-out and clearly defined persona of your dreamclient

• Should include a list of morals, ethics, values, likes, dislikes, pains,dreams, wants and needs in addition to the client demographicssuch as age, location, marital status, finances, education etc.

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Success Depends on Your Avatar

• You’ve got to be able to solve a very specific problem for a veryspecific type of person

• You need to be able to communicate using your ideal client’s ownwords, about your solution (program/service), in the mostcompelling way possible

• Without going deep into who your ideal client is, what they wantand how they feel, your marketing will be generic and ineffective

• You will spend countless dollars trying to reach your targetmarket but won’t be able to

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Success Depends on Your Avatar

• Having a target market isn’t enough – you need to position yourprogram for ONE specific person with one specific pain point

• Business becomes fun – work with your perfect type of clients

• You will reach business goals faster because you are talkingdirectly to someone who is listening

• You are dialled into a specific target market – people hang withpeople just like them

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Walk in Someone Else’s Shoes

• Understand the psychology ofyour target market

• Uncover the “buy triggers” bygoing deep into theirpsychology

• It doesn’t matter what YOUthink – think like your avatar

• Get vulnerable anduncomfortable by using theirlanguage to communicate

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Take Action

• Do the client avatar for each one of your service offerings

• Don’t stop when you feel uncomfortable...keep going

• Finish the client avatar worksheet before creating any marketingmaterials

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Take Action

• List traits of your ideal client – demographics and psychographics

• Roll together all of the traits and describe one specific person –not a general type of person

• Feel the emotions of that person as you write them – go deep(get Kleenex)

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Example

• I’m not sure if you can help me. I know I eat healthy and I’ve triedall of the weight loss diets before. I was successful with some ofthem but then my daughter had a baby and my son lost his job…I was under stress and had no time to really prepare my meals oreven think about getting to the gym.

• I’d like to try your program but I know my husband will kill me ifI spend any more money on weight loss stuff. He always nags meabout my weight and doesn’t understand how I feel half thetime… so I eat.

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Example• I can’t control my cravings, especially now since I’m going through

menopause. I feel like such a failure… I don’t know when I gainedall of this weight. I’m frustrated. My clothes don’t fit and I’m sopissed that I have to go up a size.

• It would be so much easier if I could just take a 6-month leave ofabsence from my job, and go away to a fat camp and lose theweight – no temptations, no stress and no family members totake care of. I don’t know what to do to get this weight off andI’m scared that if I don’t do something now I will end up withdiabetes or have a heart attack.

• Do you think this program will work?

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Module 1: Positioning & Branding

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What You’ll Learn• What is positioning & how to

do it well

• What is branding & how it applies to you

• How to create a brand identity

• The must-haves in your brand identity

• Take action now


What Is Positioning?• Positioning is defined as claiming a

position or reputation in a market orseveral markets – for a company,product or service. Where do yourank in the mind of your dreamclients, in relation to yourcompetition?

• What do you do differently and howcan you use that to set yourselfapart?

• How can you create a distinctimpression on your dream clients?


How Do You Position Your Brand?

• You position your company/brand by first choosing a target market.

• Determine how your company, products and services differentiate from your competitors, so that you can position yourself properly.

• Once you have nailed down your market, how you are different and what your big promise is, you can use your brand identity to position yourself.


What Is Branding?Entrepreneur Magazine definesbranding as:

The marketing practice ofcreating a name, symbol or designthat differentiates a product fromother products (or services).

Your brand identity is the wayyou communicate to the public tolet them know what to expectfrom you.


What Is Branding?What’s the difference between marketing and branding?

• Marketing is tactical, strategic and is used to communicate and promote a specific product or service

• Branding should precede and underlie all marketing efforts. Branding is the expression of the values, the feel, the outcome and the service a company embodies.

• Marketing = Buy Me Because.

• Branding = The Story of Who I Am & What I Believe.


How Does Branding Apply to You?

• Your brand is your voice and it communicates to the public onyour behalf, about who you are, what you believe and givespeople a feel for the results you promise.

• If you are confused about who you serve and what you offer, it’slikely that your brand identity is all messed up as well andattracting the wrong type of dream clients.


How to Create a Brand Identity

• Create a great logo

• Write down your brand messaging – the key messages you wantto communicate and what you stand for

• Integrate your brand – everything you do in your business shouldreflect your brand

• Develop a tag line – write a memorable and meaningful tag linethat communicates the essence of your brand

• Be consistent – congruence in your brand is vital to gaining trustof your dream clients


Branding Must-Haves• Logo

• Tag line

• Colour palette

• Fonts

• Branded words and language

• Symbols

• The way you want your brand to be perceived and talked about


Branding Tips & Tricks

• Google X colour palette and look at IMAGES

• Use http://www.whatfontis.com/ to collect fonts you like

• Review magazines targeted at your niche market to collect visualbranding ideas

• Ask your niche market what their favourite colour is

• Get a graphic designer to create mood boards and get yourniche market to vote on their favourite


http://www.whatfontis.com/

Take Action Now

• Complete the positioning and branding worksheet

• Research brands you admire and pay attention to the visuals

• Ask your ideal client avatar for feedback on the brandingelements you choose


Module 1: Create Packages & Set Pricing

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• 4 in 1 Program Offerings

• Consistent Cash Flow System

• Additional Revenue Streams

What You Will Learn

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4 Ways to Offer Your Program• 1:1 offline

• 1:1 online

• Group offline

• Group online

• BONUS – group evergreen online (means no support or interaction from you)

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Program Options

• Option A: 6-week/session program – weekly or biweekly

• Option B: 12-week/session program – weekly or biweekly

• Option C: 4-session maintenance program – biweekly or monthly

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Session Times

• Transformation Conversion Consultation (aka sales consult) – 45 minutes to 1 hour

• 1:1 Session 1 program delivery – 1 hour

• 1:1 Weekly sessions – 30 minutes

• 1:1 Mid-program evaluation – 45 minutes

• Group program delivery – 90 minutes

• Group weekly sessions – 1 hour including Q & A

• Group evergreen – 20 to 30 minutes of recordings/week

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Hot Hook Program Name

• Create a hot hook for your program name – avoid calling it the6-week weight loss program

• The program name should easily describe what program theperson is enrolling into

• The program name should be motivating and describe theoutcome your program promises

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Hot Hook Examples

• 6 Weeks to a Slim New You

• 12-Week Body Transformation

• 6-Week Rapid Slim Down

• 6-Week Metabolic Booster

• 12-Week Metabolic Repair Program

• 12-Week Balance & Vitality Program

• 6-Week Slim Down Challenge

• 12-Week Body Transformation Challenge

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Consistent Cash Flow System

• STOP offering one-off sessions with 1–2 follow-ups

• Figure out your true hourly rate and roll that into the package

• When deciding on your true hourly rate include: hard costs,business expenses, travel, research time, administration, customerservice, billing, marketing and facilitation time

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• Step # 1: Choose an amount you’d like to make per month (e.g. $3,000)

• Step # 2: Choose an amount you’d like to make per hour or use your current hourly rate

• Step # 3: List the number of hours of actual face time with the client

• Step # 4: Multiply your chosen hourly rate by the total number of hours you will be with the client

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Example: T.C.C. and the 6-Week Package

T.C.C. = 1 hour

Program Delivery = 1 hour

5 30-minute weekly sessions = 2.5 hours (30 x 5 / 60 = 150 minutes)

Total number of hours with client = 4.5 hours

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• Step # 5: Add up your hours of non-client face time

• Step # 6: Add non-client face time hours to the total program hours

• Step # 7: Multiply the total number of hours by your desired hourly rate

• Step # 8: The end result gives you the price of your program

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Consistent Cash Flow SystemExample:

Total number of hours with client = 4.5 hours

Total number of non-client hours = 3 hours

Total number of hours per program = 7.5 hours

Desired hourly rate x total number of program hours = program price

$75 x 7.5 hours = $562.50 for a 6-week program

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Consistent Cash Flow SystemExample: $562.50 for the 6-week

program

30% to expenses = $168.75

20 % to marketing = $112.50

Profit = $281.25 ($37.50/hr)

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Package Prices

• Transformation Conversion Consultation (aka sales consult) – 45 minutes to 1 hour - FREE

• 1:1 6-week program $570 ($95/session)

• 1:1 12-week program $999 ($83.25/session)

• 1:1 Maintenance program (4-sessions) $364 ($91/session)

• Group program 6-week (Live) $150 - $200

• Group program 12-week (Live) $300 - $360

• Group program 6-week (Automated) $97 - $150

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Additional Revenue Streams

• Private sessions added on to a group program

• Supplement packages

• Helpful products that alleviate a problem for the client

• Partnering with a complimentary practitioner i.e. personal trainer/meal service delivery

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Tips & Tricks • Create 1-2 bonuses for both your

6 and 12-week programs that newclients get when they enroll

• Offer a small discount, freeadditional sessions or freeproduct for the 12-week program

• Create a referral system whereclients can earn points towardsfree stuff when they referprospects

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