Imagination Workbook

FROMFROM IMAGINATION IMAGINATION TOTO IMPLEMENTATIONIMPLEMENTATION – WORKBOOK – – WORKBOOK –

www.PreneurMarketing.com.au

PETE WILLIAMS

iii

CONTENTS

1. KEYWORD SEARCH – BECOMING A FISHERMAN 4

2. NETWORK MARKETING / FRANCHISING 10

3. BUSINESS DESCRIPTION 13

4. USP 14

5. DOMAIN NAMES 16

6. GOALS 17

7. BUSINESS SYSTEMS 18

8. BUSINESS STRUCTURE 19

9. PRESS RELEASE 20

10. MARKETING FUNNEL 21

11. TEAM FORCE 22

12. NETWORKING 23

13. BARTER PROFITS 24

14. ELEVATOR SPEECH 25

15. ULTIMATE BUSINESS CHECKLIST 26

1

FROM IMAGINATION TO IMPLEMENTATION

– WORKBOOK –

This workbook is designed to help you take your million-dollar idea from imagination

to implementation through a series of tasks, questions and exercises that will build the

foundation of your business.

Imagination will not get you far without the implementation – that’s where this work-

book comes in. The tasks in this workbook are not a ‘test’, they are practical steps you

can take to help get your business started. Completing the tasks in this workbook will

help you develop and gain valuable knowledge about your goals, your business and

its structure, your marketing, and your potential customers – vital information! Once

you have completed all the tasks you will have a solid grasp of and plan for your mil-

lion dollar idea and be ready to take action immediately. Consider this workbook your

blueprint for success.

Everything in this workbook comes from my highly recommended and highly endorsed

book How to Turn Your Million-Dollar Idea into a Reality. Don’t just take my word for it;

here are some of my endorsements:

“This book is loaded with practical, proven methods and techniques you can use immediately to

make more money!”

– Brian Tracy, International speaker and best selling author of The Way to Wealth

“I don’t care if you are a housewife, a labourer, or president of General Motors. Pete’s ideas are so

good that they will transform your life so you not only make more money, but enjoy a better lifestyle

while you’re at it.”

– Scott “The Advertising Guy” Bywater, author of Cashfl ow Advertising

and Australia’s leading direct response copywriter

“Solid, practical advice from someone who’s actually done it. Wish I could have read this when I fi rst

got started building my online business.”

– Yanik Silver, Internet entrepreneur and creator

InstantSalesLetters.com

From Imagination to Implementation Workbook2

Although this workbook will be effective for you without reading How to Turn Your

Million-Dollar Idea into a Reality, I strongly suggest you invest in the book to strengthen

your understanding, knowledge and appreciation of each concept referred to in this

workbook.

The majority of exercises in this workbook are referred to throughout my book and

complement the ideas and knowledge you will gain from reading How to Turn Your

Million-Dollar Idea into a Reality. The page numbers in the headings tell you where

you will fi nd the relevant information in the book.

How to Turn Your Million-Dollar Idea into a Reality

Pete Williams has been referred to as Australia’s Richard Branson.

At just 21 years of age, Pete embarked on a highly

publicised and successful entrepreneurial venture: to sell

the Melbourne Cricket Ground – in pieces!

In How to Turn Your Million-dollar Idea into a Reality, Pete

passes on the techniques he used to sell the ’G, including:

• developing your idea to reach a hungry market

• achieving maximum sales for minimal expense

using publicity and leverage

• structuring your business to suit your lifestyle

• pricing your products and services for maximum sales

• tapping into a worldwide market online

• using networking and team force to build your business.

Throughout this workbook it is suggested that you comment on the results of you fi nd-

ings, calculations or research. I haven’t done this to take you back to the fourth grade

but amazing results and insights arise when you force yourself to really think and com-

ment on a thought or result. I encourage you to push yourself beyond your comfort

zone and complete every element of this workbook.

www.PreneurMarketing.com.au 3

If you do complete every element of this workbook, I want to reward you for your com-

mitment and drive. So once you have completed EVERY element, please fax a copy

to me on (03) 8610 2071 and I will send you a FREE GIFT.

Of course I will treat all information in the workbook completely confi dentially.

COMPLETED WORKBOOK

Please fi ll in the details below, and fax this page and your completed workbook to (03) 8610 2071.

Date: _________

Name: _______________________________________________________

Phone: _______________________________________________________

Fax: _________________________________________________________

Email: _______________________________________________________

Address: _____________________________________________________

____________________________________________________________

____________________________________________________________

Fax your workbook now for a FREE GIFT


1. KEYWORD SEARCH – BECOMING A FISHERMAN [PAGE 30]

A niche market enables you to target your sales messages with great precision. The

more narrowly you defi ne your niche market the easier it is to cater to the specifi cally

defi ned interests of people in that market.

A highly defi ned, small niche market can insulate you from competition. Other small

businesses are likely to overlook it. Large businesses will fi nd the market segment too

small to bother with.

You still need to make sure your niche is large enough to fi sh; remember Mark Victor

Hansen says “the #1 mistake most businesses make is not having a market size that

meets their earnings needs.”

A great tool to locate a niche/target market is Yahoo’s Search Marketing (searchmar-

keting.yahoo.com). This tool is a great way to check the demand and size of your

potential marketplace. I call this going fi shing – you are trying to fi nd out where poten-

tial customers are biting. So how do you do this? It’s very simple. Everybody is familiar

with using internet search engines – such as Google or Yahoo – to fi nd something

on the net, but you can also use these as a tool to fi nd out what other people – your

potential customers – are searching for. Most search engines keep track of the terms

people use to search, and how often each term appears. This information is freely

available, and you can use it to gauge the level of interest (often from all over the

world) in an idea you have.

Simply go to http://searchmarketing.yahoo.com and look for the ‘Keyword Assist’ tool.


Once there you can enter in keywords that relate to your million dollar-idea and see

how many searches have been conducted on that term in the last month.

The results will give you:

A count on the number of searches preformed on that keyword in the past

month, indicating how large your potential market is.

A list of related keyword searches; this shows you what niches there are related

to your idea.

Do searches on fi ve different business idea keywords you have and comment on the

results in the space on the following pages.

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KEYWORD 1: ___________________________________________________

SEARCH COUNT: _____________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Comments:

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KEYWORD 2: ___________________________________________________

SEARCH COUNT: _____________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________


Comments:

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KEYWORD 3: ___________________________________________________

SEARCH COUNT: _____________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Comments:

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KEYWORD 4: ___________________________________________________

SEARCH COUNT: _____________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Comments:

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KEYWORD 5: ___________________________________________________

SEARCH COUNT: _____________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________

Related Keyword: _________________________________________


Comments:

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ALSO VISIT EBAY PULSE:

eBay Pulse contains several dynamically created lists showing

popular searches, stores, products, and more. These lists are a

great way for you to see what is hot in the eBay marketplace.

http://pulse.ebay.com(.au)


2. NETWORK MARKETING / FRANCHISING [PAGE 40]

Network marketing:

Many people have made fortunes in network marketing business opportunities, also

called multi-level marketing/MLM.

“If I had to do it all over again, rather than build an old style type of business,

I would have started building a network marketing business.”

Robert T. Kiyosaki

Author Rich Dad, Poor Dad

In a typical multi-level marketing or network marketing arrangement, you associate

with a parent company as an independent contractor and are compensated based

on your sales of their products or service, as well as the sales achieved by those you

bring into the business.

Common MLM companies: Avon, Amway, Nutrimetics.

Franchises:

Simply, a franchise business is a method a company uses to distribute its products

or services through retail outlets owned by independent, third party operators. As the

independent operator you do business using the marketing methods, trademarked

goods and services and the ‘goodwill’ and name recognition developed by the head

company. In exchange, you (the franchisee) pay an initial fee and royalties to the

owner of the franchise.

Common franchises: McDonald’s, KFC, Boost Juice, Jim’s Mowing.


If you are interested in network marketing or franchising, perform an internet search

and fi nd three different companies that interest you. Write down the strengths and

weaknesses of each.

COMPANY 1: ____________________________________________________

Strengths: ____________________________________________

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Weaknesses: __________________________________________

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COMPANY 2: ____________________________________________________

Strengths: ____________________________________________

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Weaknesses: __________________________________________

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COMPANY 3: ____________________________________________________

Strengths: ____________________________________________

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Weaknesses: __________________________________________

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COMMENTS:

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3. BUSINESS DESCRIPTION [PAGE 45]

USP means unique selling proposition. This must be something that only you can

offer. Good service is not a USP – the best service is. Cheap prices are not a USP

– the cheapest prices are. A pizza shop that delivers has no USP – a nursery that

delivers might. Phone help available 24 hours is not a good USP for a furniture store,

but it might be for a vet. Find the USP that suits your business and your market, and

incorporate it into everything your company does. Make your USP succinct and mem-

orable, so that your clients will remember it and instantly recognise your business.

Write down 10 words that will describe your business. Think about it from the point of

view of your customers. Now choose three of these words that you think will appeal

most to your customers. Is one of these your USP? Explain your reasoning.

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4. USP [PAGE 46]

If you are having trouble fi nding your USP, write down fi ve things you could add to your

business that would solve this problem. Explain how each one would attract custom-

ers, and how it differs from existing offerings from other companies.

ADDITION 1: ____________________________________________________

Would attract customers because: __________________________

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Is different from other businesses because: ___________________

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ADDITION 2: ____________________________________________________


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ADDITION 3: ____________________________________________________


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ADDITION 4: ____________________________________________________


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ADDITION 5: ____________________________________________________


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5. DOMAIN NAMES [PAGE 54]

You should not create a business without utilising the internet. One thing to think about

when choosing a winning business name is what domain names (internet addresses)

are available. If you haven’t thought about your domain name yet, write down fi ve

domain names that would be a good fi t for your company. Then jump on the internet

and see if they are available. If they are, think about registering one of them now. You

don’t have to wait until your business or website is ready, and this will make sure you

don’t lose the name to somebody else.

POSSIBLE DOMAIN NAMES:

_____________________________________ Available? Yes / No

_____________________________________ Available? Yes / No

_____________________________________ Available? Yes / No

_____________________________________ Available? Yes / No

_____________________________________ Available? Yes / No

I use www.godaddy.com for all my web needs.

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6. GOALS [PAGE 65]

You must decide why you are going into business. Before you even consider setting

goals such as profi t or sales targets, you must know what you hope to achieve with

your business as a whole. Do you want to be your own boss? Do you want to work

fewer hours? Or more? Do you want more variety in your job? Or to travel as part of

work? Do you want to start a business with your partner? You must be able to clearly

state what your personal goals are, so that you can structure your business and create

systems to meet them. And remember – dream BIG!

MY BUSINESS GOALS:

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7. BUSINESS SYSTEMS [PAGE 87]

My defi nition of a ‘system’ is:

Save

Your

Self

Time

Energy and

Money

Your business systems are the practical, nuts and bolts aspects of how your business

is structured and run. But they are also more than this; good business systems will

save you time, energy and money, and help you meet your goals. They will allow you

to leverage your business for maximum profi t.

List fi ve business systems that will help you reach your goals:

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8. BUSINESS STRUCTURE [PAGE 112]

The business structure that you choose for your business will have an impact in a

number of ways. Make sure you fully investigate the options and the implications of

each and make a decision that is appropriate to your business. There is no one set-up

that is appropriate for all businesses – and it is up to you to make the right decision for

your venture. An accountant or a lawyer will be able to provide you with useful advice

for your specifi c circumstances. Fully investigate any legislation requirements.

There are four types of structures commonly used by businesses in Australia:

sole trader

partnership

company

trust.

Choosing the right business structure is very important, so think about it carefully. Do

your homework and get some advice. You can change your structure once you are

up and running, but this will be costly and time consuming. To get started, write down

which business structure you think will be best for you, and explain your reasons.

I think the best structure for me is: ____________________________________

COMMENTS:

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9. PRESS RELEASE [PAGE 126]

The aim of a press release is not as obvious as you might think. Most people will tell

you the aim of a press release is to attract attention to your business and to increase

your sales. This is incorrect. These are the overall aims of your publicity campaign, but

the press release itself has only one single goal: to get you an interview.

Complete your fi rst release below.

HEADLINE: ____________________________________________

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10. MARKETING FUNNEL [PAGE 196]

The marketing funnel gives you a way to get people through the door with a lead prod-

uct, free report or loss leader, and then continue to upsell or back-end them into other

higher priced products and services. The great advantage of creating a business sys-

tem like this is that it is possible to promote and market your business using a cheap

or free product, which is more likely to attract customers.

Fill in the marketing funnel below for your business. Start at the top with a cheap or

free product you can use to attract people and end with your most expensive product.

The price must go up with each step and each step must push people down the fun-

nel. If there are steps you can’t fi ll in with your existing offerings, think of something

new that you could add to your business to fi ll the gap.


11. TEAM FORCE [PAGE 213]

A great way to boost your business is to enlist the help of others. This can be in the

form of joint ventures, affi liate programs, referrals, cross promotions – just about any

way you can think of to join up with other organisations, whether they are in your fi eld

or not. This will give you more exposure and access to new markets. Be creative and

see what ways you can come up with to create a team force.

List fi ve people or organisations you can team up with via joint ventures, and explain

what benefi ts this will provide you with.

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Possible benefi ts: _______________________________________

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12. NETWORKING [PAGE 201]

There are organisations that provide great business networks. Just type ‘business

networking’ into a search engine to see the many options available. Some organisa-

tions are specifi cally created to provide networking opportunities, others have a more

general business focus but are still very useful for meeting people.

List two BNI (Business Network International) Chapters that are close by that you will

go to as a visitor:

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List two Associations that you will contact:

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Contact details of your local chamber of commerce:

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13. BARTER PROFITS [PAGE 223]

The raw cost when bartering is your cost of trade dollars – that’s what it costs you in

cash to sell an item on trade and pay back a trade dollar spent. There are two ele-

ments that make up a ‘cost of trade’ – the raw costs to supply or replace the product

you have sold, and the fees payable to the exchange for facilitating and recording the

transaction.

Work out your cost of trade dollar:

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List the Trade Exchange you would consider joining:

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14. ELEVATOR SPEECH [PAGE 211]

You should be ready to network at any time, not just in a business environment. Meet-

ing people at a party, on the golf course, out with friends – you never know when you

may meet somebody with whom you could create a useful business relationship. This

is why you should have what is referred to as an ‘elevator speech’ ready to go.

Write down the fi ve most important things that you would like to communicate about

your business in a short space of time. Anticipate fi ve questions that might result from

this spiel and prepare your answers.

Things I would like to communicate about my business:

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Questions I might be asked, and my responses:

Q. ___________________________________________________

A. ___________________________________________________

Q. ___________________________________________________

A. ___________________________________________________

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A. ___________________________________________________

Q. ___________________________________________________

A. ___________________________________________________

Q. ___________________________________________________

A. ___________________________________________________

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15. ULTIMATE BUSINESS CHECKLIST [PAGE 249]

Create a checklist of your own ultimate business model. Make sure it is the ultimate

checklist for you. Include items that you may not be able to implement now but would

like to be able to include in the future. For example, if your business is service-based,

you can still write a book about your area of expertise so that you have a product to

sell. Don’t just create a checklist of things that will be easy for you to do now. Refer

back to the goals you have already written down.

My ultimate business model checklist:

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Documents

Imagination Workbook