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EP 268: Why You Need To Think In Terms of A Brand

January 11, 2022 Bobby Klinck

In this episode, we’re talking about why you need to build a brand if you want a successful business. Last week we talked about the false promise in the online marketing space. This week we’re going to talk about the solution—the real work.

This will be a high-level overview because there are lots of parts to building a successful business. Then in the coming weeks, we’ll be digging into the specifics.

What You'll Learn in Today's Episode

  • Many of the popular leaders in the online marketing space aren’t teaching you to build a business but instead are teaching people to create a product, a sales strategy, a marketing strategy, etc.
  • A real business is more than this—it’s about a product mix that can serve people at different levels, price points, and places in their journey
  • Why a funnel is not a business—it’s a marketing and sales strategy
  • Real businesses don’t have a single funnel and don’t rely exclusively on funnels
  • Why you need to stop thinking about your business in terms of your product (course creator, membership owner, coach, etc.)
  • Fundamentally, what you do is help your customers solve their problems
  • Why you’re ultimately going to have different kinds of products and solutions
  • Why you need to map out the path/journey that people are on as they’re trying to solve the problem that they’re experiencing and how you can create a suite of products to serve these people for the long term
  • Why you need to make sure your product suite makes sense
  • What we can learn from the tech world via The Lean Startup
  • Why you shouldn’t think about scaling at the beginning
  • Step 1: Start with problem identification
    • Has to be a problem your audience recognizes (at least a symptom)
    • A problem they will value solving 
    • The problem has to be solvable within your constraints (expertise and profitability)
  • Step 2: Find the right problem-solution fit
    • This has to be the right solution for your customer, not just what you want to do
    • It’s helpful to start with 1:1 so you can gain insight and work out your processes and ideas
  • Step 3: Find product-market fit
    • This is rare
    • You know you’ve found it when you have to scale
  • The value of thinking like a realist