Profit Plan Answer Vault

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Profit Plan Answer Vault

CLICK ON A QUESTION TO JUMP TO THE ANSWER:

Ideal Customer Avatar Fun Sheet

“Is it possible to have two different customer avatars for the same business?”

“I did the Customer Avatar exercise and realized as I was creating it that my custom-

er avatar was myself. Is that OK?”

“Is it okay for your ideal customer avatar to be a real person? Perhaps a past or cur-

rent client you enjoyed working with, or is it better to make this person up?”

“Should I connect with real people who are my prospective customer to help devel-

op my Ideal Customer Avatar?”

“I have two very distinctly different customer avatars - one male, the other female.

How do you suggest “speaking directly to” both customers in my general email

communication, Facebook posts, website copy, etc.?”

“I worked and re-worked the customer avatar and my ideal customer is the same

person I’ve been trying to engage before and couldn’t get them to buy. How do I

get through to them differently this time?”

“As I am preparing my B-School experience, should I plan to complete my customer

avatar experience in relation to a specific product/service offering? Or should this

be done based on my overall brand? I feel like my brand reaches and supports two

completely separate (yet intertwined) types of clients.”

“If I design an ideal customer avatar for each product so I can market it effectively,

does it mean I will have to have a newsletter for each target market and product?”

© MARIE FORLEO INTERNATIONAL | RHHBSCHOOL.COM

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“How do I create my ideal customer avatar when I want to offer *new* products to

*new* audiences (ones that I don’t know very well)? How do I get inside the heads

and hearts of these buyers who I don’t really know? What ideas or suggestions can

you offer for getting to know a new kind of customer?”

“My avatar looks nothing like what I originally thought. Do you have any advice for

those of us huddled in a corner, snot-faced, and freaked the heck out from discover-

ing that our gifts can actually help a person so different than who we thought?”

“A blocking/resistance thought that I had while doing the avatar exercise is that I’m

going to create an ideal customer that is so defined that I will niche myself out of

the market. I then worry that I will not cast a wide enough net when purchasing ad-

vertising and doing PR pitches. How can I get over this stumbling block?”

“I’m having some doubts about my avatar. What if I’m totally wrong with the person?

What if I can’t find the right perspective for this?”

“Should I make a brand new ideal customer avatar for every product?”

“I have two niches. As I go through B-School, should I hone in on only one, or create

a different avatar for each niche?”

“I sell a luxury item and I’m having a tough time identifying the fears and worries

of my customer avatar because my customers are purchasing a luxury item. How

should I approach doing that exercise?”

“The person that’s using my product isn’t necessarily the person that’s buying it. For

example, I sell lingerie -- but men are often the one who is paying. Any suggestions

for how to do the customer avatar exercise with this in mind?”


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“What comes first - the avatar or the product/service?”

“What if your clients right now aren’t your ideal clients? Do I do the avatar exercise

based on the clients I have or the clients I want to have?”

Profit Clarity: Money Tracking Fun Sheet

“The work that makes me the most $$ is the work I most dislike doing. I see value

in keeping some of those tasks but I know I need to find the sweet spot and up my

prices for the things I really want to be doing, while of course continuing to bring

home the bacon. Should I just “tough it out,” work those extra long hours and juggle

the crappy work while developing the more lucrative offerings?”

“I’m in the development stages of creating a product and a consultation service. I’m

not sure what to charge for the product so I’m having a difficult time completing

this Fun Sheet.”

“I have no sales. When I’m doing this Fun Sheet, should I guess my expected sales?

Should my goal be lofty or conservative?”

“What are your thoughts about cannibalizing your own income streams? For exam-

ple, creating an educational program that would technically eliminate the need for

your consulting or 1-to-1 product.”

“I have offered my services for free to those who are willing to be a guinea pig for

me – am I starting off with the wrong attitude in terms of value exchange?”


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Premium Brand Fun Sheet

“For folks who are new to business (less than 6 months) with a couple satisfied cli-

ents, how do we make the transition from charging cheap, bargain basement prices

to premium pricing - despite a short track record?”

“Do you have advice for existing businesses/B-School customers who want to raise

their rates to a premium level? How can a business explain this shift to current

clients? Can businesses pull this off without losing long-time clients who have been

the “bread and butter” of revenue?”

“How do I let people know I’m rebranding?”

“I’m feeling so much resistance to charging premium prices. What should I do?”

“I don’t feel comfortable charging for products. I’d prefer to have a huge community

and my profit to come from advertising. Is this realistic?”

Profit Clarity: Find Your Sweet Spot Fun Sheet

“My business has multiple audiences and therefore multiple sweet spots. It may be a

good problem to have, but should I narrow my focus?”

“What if my sweet spot/the thing that I really love to do doesn’t make enough

money.”

“In my business, I have a team that produces a lot of the deliverables for clients. I

focus on strategy with clients and delegate most other work to my team. Should

the “sweet spot” only relate to MY natural gifts, or relate to the gifts of both me and

my team (SEO, social media strategy, copywriting, graphic design, etc.)?”


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“I have great ideas but haven’t figured out which angle works for making money. Do

I need to come up with new ideas? Google, for example, didn’t know where their

profit was going to come from even during their third round of VC money. What

should I do?”

“What should I do if my prices are already high for my customers, but I want/need to

raise them?”

“How should I go through this module if I have a product-based business?”

“What do you think about an advertising business model?”

“Is it possible to create a business that caters to people who don’t have money or

does creating premium products exclude the poor?”

Eliminate Competition Fun Sheet

“Is there a way we can phrase asking people what our 3 best qualities are that

sounds professional?”

“I’m finding it difficult to spot stories in my life and to see how they fit into the WHY

of what I want to do. How do I change how I’m thinking about this exercise to see

the stories and turning points in everyday life?”

“A competitor signed up to my newsletter. What should I do? Do I remove them from

my email list or just share the love?”


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Strategy Canvas Fun Sheet

“What if you don’t know much about your competition?”

“I’m worried that my competition or unethical customers will steal my content and

upload it online for free, thus killing my business. What should I do?”

“I feel like everything I want to do with my business has already been done by others

and that my industry has such a range of prices/products/offerings that I have no

clarity.”

“Do you have any suggestions on how to implement and make the changes I want

with my business, but may not be able to do yet due to money for example?”

Start the Right Business:

“When I went through the checklist of different business models, I found I use almost

every one of them: one-on-one coaching, group workshops, digital products (eb-

ooks & eCourses), speaker fees, physical products, affiliate marketing and advertis-

ing. Is this a good or a bad thing? Should I be focusing more on a few things, or is it

okay to develop all these different revenue streams in parallel?”

“When pinpointing my business model, is it important to choose only one? I seem to

overflow from Service to Expert. I would like to host workshops, get paid to speak,

potentially offer ebooks (although my industry seems more hands-on than virtual)

and be available for consultation. Can I flow between two, or will focusing on just

one model give me a better chance at success?”


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“I’ve started working through the profit clarity module. But now that I’ve also started

reading the “Start the Right Business” book, I’m wondering: do you think it’s impor-

tant for me to do that work FIRST, even if it means falling behind with the B-School

modules? I really want to get started on the right track from the get-go, but I don’t

want to miss out on the live calls, etc. because I’m behind on the modules.”

“Is it necessary to choose one business model or can it be a combination?”

“I’m trying to move my business from 1-1 coaching and selling my time, to more of a

product based business. What keeps me stuck in the model is that people don’t seem

to want to learn how to do things on their own, they want me to do it for them. Any

suggestions for how to make that transition?”

“Should I do STRB first? Do the modules first? How do I combine them?”

“Should I keep going even if I’ve been working through “Start the Right Business” and

feel stuck?”

Miscellaneous

“I don’t have a business. Where should I start with this module?”

“How can I make the most out of this program?”

“I am officially stuck! My business has always been about intuition, determination and

drive. I feel so bogged down with these details and worksheets and feel like I’ve lost

myself in this work. Help!”


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“How should I deal with overwhelm?”

“You’ve mentioned that leaving our comfort zone can be painful but rewarding. Do you

have any specific advice for handling these growing pains?”

“I’m eager to build relationships online with the other participants in B-School. However,

I want to be targeted and efficient with my time. There are thousands of posts and

I’m just not sure how to make the most of the comments and forum element. Can you

please offer advice on how to read and comment on comments made and how to post

in a way that gets good feedback?”

“What do you do if you give away such good stuff for free that people don’t have any

desire to buy?”

“When building the foundations of your business, as discussed in Module 1, when is the

point when you say enough is enough, it’s time to start implementing? I haven’t felt

ready to market and promote heavily yet because I feel I need to work on the funda-

mentals still but this process has been going on for 12 months now. How do you know

when you have the foundation in place and it’s time for the next stage?”

“Is there a certain point where displaying too much personality in our marketing can

come off as unprofessional?”

“I fear I’ll be criticized by others for the choices I make about my business. I really want

to gain trust and respect within my industry, so how do I work through those feelings?”


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“Is it possible to have two different customer avatars for the same business?”

A: Here’s an example of how I have multiple avatars in my business: In the past I had a

program called Adventure Mastermind and it cost $20K a year. We’ve also had other

offerings like RHH Live (a weekend conference), B-School and then the Make Every Man

Want You audio book which costs $29.95.

The mindset of a woman who’s gonna buy my Make Every Man Want You audio book is

probably a little bit different than the woman that’s like, “I’m ready to spend $20,000 a

year on mentorship.”

That doesn’t mean that those people can’t buy both products, but someone considering

a $29 audio book is in a totally different frame of mind than a person considering spend-

ing $20K for a 9 month mentorship program.

In my case, it’s not a totally different person buying these products, they’re just in dif-

ferent places on their journey and have different needs. However in some businesses it

might be a totally different person that’s buying each product or service. That’s when

you need to look at your business and use the tools provided in this module in a way

that’s appropriate for what you do.

All of us are in different stages of our entrepreneurial evolution. So when your business is

first starting, there’s a lot more testing and feeling out that you’ve gotta do. For example

when I first started life coaching, a handful of my best clients - the people that were

giving me money- were dudes. They were awesome dudes! I had no idea that my brand

was gonna develop into what it is today, which is 80% women. The content I teach isn’t

gender specific but I’m very clear that the majority of my market right now, is women.

As you go along in your journey and test things out, you might have an “A-HA!” moment

and discover more about your customers and that particular avatar. It might lead you


Your Ideal Customer AvatarANSWER VAULT

http://www.marieforleo.com/memwy/



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to develop a specific marketing campaign to reach that market. Wouldn’t it be useful to

have an ideal customer avatar to drive that campaign to reach them?

“I did the Customer Avatar exercise and realized as I was creating it that my customer

avatar was myself. Is that OK?”

A: It’s completely fine if your avatar is just like you and many of us start our businesses

from a place of self discovery. It’ll help you from a compassion standpoint to go back in

time and start to feel, imagine and think through what someone just like you was going

through and how they needed help.

“Is it okay for your ideal customer avatar to be a real person? Perhaps a past or

current client you enjoyed working with, or is it better to make this person up?”

A: It’s absolutely OK. I used a real person and interviewed her multiple times for B-

School. You can do whatever you wish. There’s no right or wrong way to do it. It’s about

getting sooo deep into another person’s psychology so you can understand them and

stop thinking from your own point of view. It’s about true service, compassion and step-

ping into another person’s shoes. However you can get there, do it.

“Should I connect with real people who are my prospective customer to help develop

my Ideal Customer Avatar?”

A: My most fun ideal customer avatar experience was when B-School was in the idea

stage. I chose a specific real woman, called her and bombarded her with questions from

the Ideal Customer Avatar Fun Sheet. I knew her quite well since she was a client of mine

and she didn’t mind.

Yes, it’s an awesome idea if you can connect with real people, and I would prefer you to

connect with people that are prospective customers. With family and friends, it can get


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a little strange unless you are 100% sure that they would open up their wallet and buy.

Target real prospects or customers that have either bought products and services from

you before or that most likely would.

And, of course, let them know they’re in a safe space, that this is part of your confidential

research process, and that you’re not going to disclose any of this personal information.

Your goal is to create the best product or service that truly serves others.

“I have two very distinctly different customer avatars - one male, the other female.

How do you suggest “speaking directly to” both customers in my general email

communication, Facebook posts, website copy, etc.?”

A: Focus on what they do have in common. Are they all bloggers, chefs, spiritual seekers,

fitness buffs, etc.? Look for the common bond and focus 95% of your communication on

the pain and frustration they experience, as well as their ultimate dreams and aspirations

related to the topic they all have in common.

“I worked and re-worked the customer avatar and my ideal customer is the same

person I’ve been trying to engage before and couldn’t get them to buy. How do I get

through to them differently this time?”

A: Talk to them and find out why they’re not buying. I know it may feel awkward and

slightly painful to your ego, but the only way you’re gonna know what’s wrong is if you

ask. Make it safe for them to tell you the honest truth. Don’t guess or keep hitting your

head against a wall. Ask for feedback.

“As I am preparing my B-School experience, should I plan to complete my customer

avatar experience in relation to a specific product/service offering? Or should this be

done based on my overall brand? I feel like my brand reaches and supports two com-

pletely separate (yet intertwined) types of clients.”


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A: It’s easiest to complete based on a particular product or service. Ideally the product

or service you’re most excited about and that’s most profitable.

Focus on one type of client first, that will help you really internalize how to go really

deep in your marketing. Once you “get it” - you’ll find it much easier and faster to apply

these ideas to your other type of clients and also, find the overlap. Don’t overthink it.

“If I design an ideal customer avatar for each product so I can market it effectively,

does it mean I will have to have a newsletter for each target market and product?”

A: It depends. If you sell natural cosmetics to women and sell fishing lures to men, then

yes as those are very different markets, and you’ll need different newsletters. If your

products are more similar, and I find that most people’s are, you’re usually fine with one

newsletter. In most email management programs (which we’ll talk more about in later

modules) you can create different sublists. For example, you can set it up to mail only to

people in “California” if you have a special offer that relates to them, or only people who

have purchased product A if you have a special promotion relating to that product.

“How do I create my ideal customer avatar when I want to offer *new* products to

*new* audiences (ones that I don’t know very well)? How do I get inside the heads and

hearts of these buyers who I don’t really know? What ideas or suggestions can you of-

fer for getting to know a new kind of customer?”

A: Go find them! Business is about problem solving, putting yourself out there, ex-

perimenting and researching. Yes, with real, live people. Investigate your competition.

Find events where this market may hang out and get to know them. Find them online

in forums, blogs, groups, etc. Ask your friends or family. Become a marketing detective.

If you’re 100% committed, you’ll do whatever it takes to make this happen. Right now, I

challenge you to come up with FIVE ways you could find this new kind of customer. Shut


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off your inner critic and GO!

“My avatar looks nothing like what I originally thought. Do you have any advice for

those of us huddled in a corner, snot-faced, and freaked the heck out from discovering

that our gifts can actually help a person so different than who we thought?”

A: Roll with it! This program has a way of transforming your life in ways you couldn’t

imagine. Snots have always been present for some of my most powerful learning experi-

ences, so I say congratulations. Things are about to get real good for you!

“A blocking/resistance thought that I had while doing the avatar exercise is that I’m

going to create an ideal customer that is so defined that I will niche myself out of the

market. I then worry that I will not cast a wide enough net when purchasing advertis-

ing and doing PR pitches. How can I get over this stumbling block?”

A: You nailed it - that’s good old resistance. A good rule of thumb, especially when

you’re first starting out, is to go more narrow first (to gain momentum and profit) and

once you do, it’s easier to widen out. The hardest thing for most of us to do who don’t

have a ton of capital to burn, is to go mass, general market ASAP. And if you’ve pur-

chased advertising these days, you’ll know that the more targeted you are, the more ac-

curately you can track and monitor how well you convert those ad dollars to revenue. If

you can’t track your advertising or PR dollars, you’re throwing money away. Bottom line,

just execute as best you can, keep taking action. Don’t overthink this.

“I’m having some doubts about my avatar. What if I’m totally wrong with the person?

What if I can’t find the right perspective for this?”

A: These are all fears keeping you from taking action. Totally common, but it’s time to

side-step them with action. Who is buying your stuff now? If they’re an ideal client, go

deep and do an avatar on them. If you have crappy clients, who would be a better fit?


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Do an avatar on that person.

Clarity comes from engagement, not thought. Take action and you’ll get clarity that will

never come from thinking about this in your head.

“Should I make a brand new ideal customer avatar for every product?”

A: Yes. It will help your marketing and product development tremendously.

“I have two niches. As I go through B-School, should I hone in on only one, or create a

different avatar for each niche?”

A: I recommend that the first time you go through B-School, you choose one business

focus and really dig deep into it. You can always go through B-School a second time to

focus on your other niche.

It’s likely gonna be tough to choose, but use your intuition, your heart and your intellect

to make that decision and then move on. Don’t second guess.

“I sell a luxury item and I’m having a tough time identifying the fears and worries of

my customer avatar because my customers are purchasing a luxury item. How should I

approach doing that exercise?”

A: When someone is buying a luxury item, that person is human and humans always

have fears. Those fears may not be related to your industry or your product.

Here an example:

Let’s pretend you’re selling luxury vacation rentals. Your ideal customer avatar was a

high power executive woman and she’s not using a luxury vacation rental because she’s

fearful.


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However, if you look at her as a human being, what are some of the fears that she may

have?

Not having a great time on the little time she has off because she’s so busy.

She’s getting older in life and she doesn’t have that much time on the planet, so she re-

ally wants her vacation to be meaningful.

Those things could be back-end fears, but they’re not necessarily what you’d talk about

in your marketing of a luxury vacation rental. However, knowing that information allows

you to start creating a customer experience or write copy to handle her fears.

The bottom line is that even when people spend a lot of money on luxury items they still

have fears. Those fears can be unrelated to your product or service, but if you under-

stand them, the way that you operate as a business and the customer experience that

you’ll create will be so far beyond any of your competitors, it’ll make your head spin.

“The person that’s using my product isn’t necessarily the person that’s buying it. For

example, I sell lingerie -- but men are often the one who is paying. Any suggestions for

how to do the customer avatar exercise with this in mind?”

A: You should definitely do two customer avatars. One for the person who you’re deliv-

ering the primary service to and then do one for the person who’s either paying or the

other person you’re trying to reach.

Another thing you should do is watch this episode of MarieTV all about Advanced Mar-

keting and who else is influencing your customers.

“What comes first - the avatar or the product/service?”


http://www.marieforleo.com/2011/08/advanced-marketing-customer-influencers/

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A: You should definitely read “Start the Right Business.” Because you want to be pas-

sionate about your product or service, and make sure you have a viable market.

Generally speaking though, you’ll want to come up with the idea of what you want to do

first, and then start testing it with real people, which is more of the customer avatar type

work.

Again, “Start The Right Business,” walks you through this.

“What if your clients right now aren’t your ideal clients? Do I do the avatar exercise

based on the clients I have or the clients I want to have?”

A: I recommend that you do your avatar exercise for the people you most want to at-

tract.

When we’re first starting out in our business we have to start somewhere and often

times the first round of clients aren’t necessarily the ideal clients. But you’ve gotta get

your feet wet, and you’ve gotta test some things out, and generally we’re happy with

whoever shows up at the door because it proves that we’re actually doing something. All

of this is A-OK.

But as you’re building your business, why not build your marketing to attract the people

you want to work with? Think of it like fishing. When you go fishing you get the right bait

for the kind of fish you want to catch.

The same goes for marketing. If you really want to reach your ideal customers, you have

to attract them with the right bait that’s what they want.

Also, know that as you get started you’re going to pull in a wider net of some fish that

aren’t going to be great, but be grateful for them and realize that they’re going to teach

you things about yourself and your business and that’s awesome too.


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Profit Clarity: Money TrackingANSWER VAULT

“The work that makes me the most $$ is the work I most dislike doing. I see value

in keeping some of those tasks but I know I need to find the sweet spot and up my

prices for the things I really want to be doing, while of course continuing to bring

home the bacon. Should I just “tough it out,” work those extra long hours and juggle

the crappy work while developing the more lucrative offerings?”

A: Short answer, yes. But shift your attitude. Bring a sense of reverence, passion and

gratitude to every task you do. Especially the “crappy” ones. Bringing passion and

engagement to each moment of your life builds your happiness muscles, speeds along

the work, reduces mistakes, and increases your overall well-being. Try it and you’ll be

hooked.

“I’m in the development stages of creating a product and a consultation service. I’m

not sure what to charge for the product so I’m having a difficult time completing this

Fun Sheet.”

A: Just do your best, and don’t get hung up. Guesstimate if you can. Realize that all of

us start out “making things” up just to get moving. Come back to this exercise later after

you have more experience.

“I have no sales. When I’m doing this Fun Sheet, should I guess my expected sales?

Should my goal be lofty or conservative?”

A: See above. Regarding lofty or conservative, I recommend checking within and set-

ting goals that are realistic but that are still a stretch, something to inspire you. Remem-

ber, no one rises to low expectations.

“What are your thoughts about cannibalizing your own income streams? For example,

creating an educational program that would technically eliminate the need for your

consulting or 1-to-1 product.”


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Profit Clarity: Money TrackingANSWER VAULT

A: This is where you need to get creative, and remember human psychology. You can

create an educational program that “technically” eliminates the need for your one-on-

one product, but people will always want help and hand holding, in every field. Think

about Ikea. They give you everything you need to do it yourself, yet there are tens of

thousands of contractors who will help you put it all together in your house. Alterna-

tively, look at what else your market needs. Is there an opportunity for a new product or

service? Finally, consider the idea of scale. Perhaps an educational product is not “can-

nibalizing” your business, but expanding it for more impact and profit. Would you rather

help 1,000 - 100,000 people per year with your program or help 50 one-on-one. There’s

no right or wrong answer. You must choose the kind of business you want.

“I have offered my services for free to those who are willing to be a guinea pig for me

– am I starting off with the wrong attitude in terms of value exchange?”

A: In my opinion, offering a service for free for a defined period of time to test is never

a bad idea. This is how I started out as a coach and it quickly got me traction, feedback

and helped me build confidence and a fan base.


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Premium BrandANSWER VAULT

“For folks who are new to business (less than 6 months) with a couple satisfied clients,

how do we make the transition from charging cheap, bargain basement prices to pre-

mium pricing - despite a short track record?”

A: Watch this MarieTV episode.

“Do you have advice for existing businesses/B-School customers who want to raise

their rates to a premium level? How can a business explain this shift to current clients?

Can businesses pull this off without losing long-time clients who have been the “bread

and butter” of revenue?”

A: First watch the video above. Second, you’ve got options. One is to start all new clients

at your higher rates and keep your existing clients at the rates you have now. You can

also give your existing clients a grace period (1, 3, 6 months - your choice) at your old

rate and let them know about your new rates coming up.

“How do I let people know I’m rebranding?”

A: Depends on what that means. If it’s just a cosmetic change, there’s really no need to

let people know unless you’re excited about it and want to share details or previews on

social media.

If it’s a name change or something that can impact the customer experience or ability to

find you, or refer clients to you, a simple email should do the trick. Explain what you’re

doing and why and do it with honesty, transparency and enthusiasm. You can also post

that copy on your Facebook page or have a link to it on your website if you expect get-

ting a lot of questions about it.


http://www.marieforleo.com/2012/08/raise-prices/

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“I’m feeling so much resistance to charging premium prices. What should I do?”

A: Premium pricing is not for everyone, so I don’t want you to feel forced to take on

something that’s not your truth. You’ve got to look within and get honest with yourself

about what you truly want.

The most important thing is for you to consciously choose how you’d like your business

to be perceived in the marketplace. This way you can design a business, brand and cus-

tomer experience, as well as a pricing structure that is a true expression of your heart’s

desire.

“I don’t feel comfortable charging for products. I’d prefer to have a huge community

and my profit to come from advertising. Is this realistic?”

A: First things first. If you want to have a successful business, you have to charge for

something. Advertising is a version of a “product.” I’d strongly encourage you clean

up any negative inner associations you have about making money, marketing, sales, or

creating wealth. You don’t want subconscious, negative programming from your past to

sabotage your ability to run a successful, profitable and purposeful business today.

But if you want to go deeper on advertising, a prime example of this working is with my

friend Amanda Steinberg’s site called The Daily Worth. It’s a daily email model and the

revenue for that model is selling advertising.

If you want to start something like this, I suggest you look around and do research. I per-

sonally don’t know of anyone that has a business that runs on advertising revenue that’s

not a daily email model or that’s not the Huffington Post. That doesn’t mean that there

aren’t people doing it. I don’t claim to know everything. So there could be people out

there running sites that make money (the kind of money you want to make) selling ads,

but you’ll have to find them and learn everything you can from how they do it.


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One potential model you might consider instead of a traditional information products

model or an advertising model, is to sell coaching or information and go for volume over

price. You could offer your group to be part of something for $10 or $20 per month and

really start fleshing out your idea and offering.

My hunch is you have a fear of looking salesy and you want a community more than

anything.

But I’ve found that when you create great free content and then offer something of even

more value for a fee, people are happy to pay. When people are in a tough space and

are seeking help, they’re generally happy to pay for a product or service that’s going to

solve their problem and help them get where they want to go in life.

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Profit Clarity: Find Your Sweet SpotANSWER VAULT

“My business has multiple audiences and therefore multiple sweet spots. It may be a

good problem to have, but should I narrow my focus?”

A: What feels most expansive to you? For example, if you imagine simplifying your busi-

ness and that feels really exciting and fills you with energy (even if it’s a little scary) — do

it. You have this answer within you. From personal experience, the more I simplify in

business, the easier it is to grow faster.

Conversely, if you’d like to refine your sweet spots for multiple audiences, my sugges-

tion is to prioritize and focus on one at a time. Create a plan, then work your plan so you

stay out of overwhelm. This is where being very clear and realistic on your calendar and

timelines will come into play.

“What if my sweet spot/the thing that I really love to do doesn’t make enough mon-

ey.”

A: You have three options. Option one is to be OK with making less money. How much

money you want to make in your business is a very personal decision. More isn’t always

better, and we all have the right to define wealth for ourselves. Option two, raise your

prices and target a market that will value what you have to offer and will be willing to

pay. Or option three, change your business model and offerings so you can realistically

hit your financial goals. This is about being honest and real with yourself, and making a

conscious choice to move ahead.

“In my business, I have a team that produces a lot of the deliverables for clients. I

focus on strategy with clients and delegate most other work to my team. Should the

“sweet spot” only relate to MY natural gifts, or relate to the gifts of both me and my

team (SEO, social media strategy, copywriting, graphic design, etc.)?”

A: Ideally both. As the analogy goes, put your oxygen mask on first, then you help those


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around you. The goal is to work the majority of time in your “sweet spot” and move to-

ward having people on your team work in theirs. We all have to do things we don’t love to

keep the ship running (that’s a natural part of business and life) but always strive to spend

the majority of time working in your genius zone. “Now Discover Your Strengths” by Mar-

cus Buckingham is a great book for further info on this topic.

“I have great ideas but haven’t figured out which angle works for making money. Do I

need to come up with new ideas? Google, for example, didn’t know where their profit

was going to come from even during their third round of VC money. What should I do?”

A: Have you read “Start The Right Business” yet? If not, do start there — it’s wonderful.

In business, as in life, there are many paths to success. One of the things I talked about in

the promotion of B-School, and in “Start The Right Business,” is that I’ll only share ideas/

strategies/how to’s that I’ve personally used and experienced.

Starting a business without a clear business model or path to profit, and one that requires

VC funding is not something I’ve done and isn’t something we cover here in B-School.

Do businesses like Google, do it? Clearly — but it’s not something we can coach you on

here. If you want some more education and further research, especially as it relates to the

kinds of businesses that other folks invest in, watch the show “Shark Tank.” You can watch

full episodes online for free on ABC’s site. The also have a fantastic book out, Shark Tank

Jump Start Your Business, in which B-School is listed as a resource.

You’ll see how the first thing these successful, high level investors look for is profitability

and a clear path to growth and success. Again, there are businesses out there like Google,

but if you do a bit more research you’ll find that building a business without a clear profit

path is waaaay more of the exception than the rule. In the press they only highlight the

ones that work, not the millions that don’t.


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“What should I do if my prices are already high for my customers, but I want/need to

raise them?”

A: You have to choose folks that you’re most excited to serve and make sure there’s a

match between the value that you deliver to them and what they’re willing to pay. If

raising your prices is what you must do, then you must do it. Either that, or create a new

premium product or service with a new pricing structure.

The beautiful thing about the world is there’s incredible diversity. I’m not saying that you

have to charge outrageously high prices. I’m saying that it’s everyone’s right as a busi-

ness owner to have healthy profits, earn a good living and deliver outstanding products

and services. There are a lot of folks that wanted to take B-School, but it wasn’t in their

financial reality at the moment. That’s why we offer scholarships, and that’s why we

do MarieTV. I look for ways to change the world free of charge, in addition to having

products and programs I sell for a profit. This allows me to fulfill my mission and have a

healthy, profitable, sustainable business.

While there’s no black and white answer, you have to set your prices at a place that al-

lows you to be profitable, and make sure that you’re reaching a large enough market of

folks that really want what you have to offer and are willing to pay for it.

“How should I go through this module if I have a product-based business?”

A: B-School is about learning to effectively communicate with human beings who

you’re trying to sell something to, in order to support them in having a better life. For

product-based business owners, you must start looking at yourself like an expert in your

category. Part of your job is to educate your consumer on your industry and teach them

all about your product area and articulate why your product is better, different, and the

ideal match for your ideal customers. It doesn’t matter whether you sell products or ser-

vices. Don’t get caught in the, “This doesn’t apply to me” zone. I promise you, it’s about


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marketing, it’s about human beings, it’s about connecting from your heart and going for

excellence. That applies to all of us.

Of course, please make sure you review our bonus “Smart Marketing For Product Based

Business Owners.” You’ll see exactly how each part of Module one relates to you. Any

questions you have are answered by fellow B-Schoolers that successfully run product-

based businesses.

“What do you think about an advertising business model?”

A: I’ve had a really tough time finding anyone who can make the advertising model

work who isn’t a large company. The New York Times has had trouble making that model

work on its own. I’m not saying a pure advertising revenue model isn’t possible, but it’s a

really tough road and it’s not one that I’d pursue, or recommend at this time.

“Is it possible to create a business that caters to people who don’t have money or

does creating premium products exclude the poor?”

A: If you’re not familiar with social businesses, you should really check it out. My favorite

intro book on the subject is Banker To The Poor by Muhammad Yunus, founder of the

Grameen Bank.

Serving the greater good, as well as earning a healthy living are not mutually exclusive.

There’s a huge growing ecosystem of folks who prescribe to this idea, and many call it

conscious capitalism. It’s about doing well by doing good -- on every level. Every part

of the supply chain. Think about companies like TOMS shoes (buy one, give one) or

Warby Parker (similar idea) or a sweet company called Lunapads.

One of the things about running a successful, profitable business is that you get to use

that success and those profits in any way you choose. In our business, social change is


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baked into our business model.

We give back a portion of our profits. We partner with organizations that we believe in

like Pencils of Promise, Charity Water, Girl Up, Urban Zen, and Virgin Unite. How can we

do that? Because we’re profitable. So it’s completely possible to have a business that

serves not only regular paying customers, but actually makes a huge difference on the

planet.

Also in nearly every premium offering I’ve had, we’ve given away scholarships and free

seats. When I used to do a live conference, we offered tons of free scholarship seats

and flew people in and put them up in hotels. With B-School, we also offer scholarships.

Those are free seats to B-School for people that are just willing to put out their creativity

and participate with us to demonstrate how they wanna make a difference in the world.

So you just have to do your research, get clear on your values, your vision, use your cre-

ativity and take a ton of action.

Other ideas include: offering extended payment plans or discounts, creating several days

out of the week or the month or the year that you give away your products and services,

etc. You can decide in your company that you’re going to give away a percentage of

profits to any organization that you want.

There are many different ways that you can create and run a socially conscious, profit-

able business that not only helps you, but that supports your customers, your team, your

vendors/suppliers, your community, the world and the planet.


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Eliminate Competition Fun Sheet ANSWER VAULT

“Is there a way we can phrase asking people what our 3 best qualities are that sounds

professional?”

A: You’re not alone. I know it’s a very uncomfortable exercise. My job is to challenge you

to stretch outside your comfort zone and grow. Here’s the thing. People love something

that’s a little unusual in their day. A great opener could be, like, “Hi NAME. I’m feeling a

bit awkward about this, but I would really love your opinion. And don’t worry, this will be

over fast. ” You open with a line like that and anyone who knows and loves you should be

not only super curious, but also happy to help.

Continue and say something like, “I’m developing this new project,” or, “I’m working

through a business course,” or you can use whatever terminology fits for your particular

situation and feels most authentic. Then say “I need to be able to articulate and identify

how I’m perceived by people I respect.”

So I would phrase it something like that and then you go ahead and say, “Not fishing for

compliments, but I do appreciate anything that you have to share.” Make sure you add

something that personalizes the email so they know that you really want to hear from

them and you’re not sending a mass, group email.

“I’m finding it difficult to spot stories in my life and to see how they fit into the WHY

of what I want to do. How do I change how I’m thinking about this exercise to see the

stories and turning points in everyday life?”

A: Your stories don’t have to be epic, just genuine, simple and heartfelt that connect to

why you’re running your business or how you got to where you are today.


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Eliminate Competition Fun Sheet ANSWER VAULT

“A competitor signed up to my newsletter. What should I do? Do I remove them from

my email list or just share the love?”

A: Keep doing your thing — and see if you can view them as colleagues vs. competitors!


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Strategy Canvas Fun Sheet ANSWER VAULT

“What if you don’t know much about your competition?”

A: Go out and purchase their product or services! Experience them first hand. Research

them on Google. Follow them on social medial. You’ll learn everything you need to know.

“I’m worried that my competition or unethical customers will steal my content and up-

load it online for free, thus killing my business. What should I do?”

A: Of course, you should have proper terms, conditions and policies clearly on your

products and website. But in today’s day and age, that may happen and unfortunately —

there’s not much you can do to stop it. Just think about the movie and music industry. If

you find your intellectual property on YouTube and you let them know — they are pretty

good at taking it down fast. If you find it other places, you can contact them directly, or

have an attorney send a cease and desist letter. Generally speaking, you have to assume

that most people are honest, good and truly want to do the right thing in life.

“I feel like everything I want to do with my business has already been done by others and

that my industry has such a range of prices/products/offerings that I have no clarity.”

A: These are typical fears and blocks that stop most people from moving ahead. Com-

pletely normal — but as you know, not wise to hang out there. Remember that you are

as unique as a snowflake — and you have the ability to create a completely unique and

incredible business that is 100% yours.

If you’re truly committed to the industry, stay focused on your message, how you hope

to serve and what you’d like to see happen. Stay connected to the work, and don’t get a

comparison hangover. Yes do research (because it’s wise to know the competitive land-

scape) but let that INSPIRE you, not intimidate you. There are over 7 Billion people on the

planet — more than enough to go around for all!


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Strategy Canvas Fun Sheet ANSWER VAULT

“Do you have any suggestions on how to implement and make the changes I want with

my business, but may not be able to do yet due to money for example?”

A: List all the changes you’d like to make in one place. Then you can analyze — for your

business, budget, etc. — which are the highest priorities and which make the most sense

in terms of what to do 1st, 2nd, 3rd, etc. You’ll have to ask yourself — what are the most

important changes to make and in what order? Don’t rush this process and trust that you’ll

have to make decisions based on logic, reason and intuition.


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Start The Right BusinessANSWER VAULT

“When I went through the checklist of different business models, I found I use almost

every one of them: one-on-one coaching, group workshops, digital products (ebooks

& eCourses), speaker fees, physical products, affiliate marketing and advertising. Is

this a good or a bad thing? Should I be focusing more on a few things, or is it okay to

develop all these different revenue streams in parallel?”

A: This answer all depends on where you are in your journey, and what kind of team (if

any) you have to support you. Most of us make the BIG mistake of trying to do too many

things at once, especially when we’re first starting out. Nothing ever gets done. We

constantly have 5 or 20 half-baked, half-done projects at any time, and no steady money

coming in.

The result? Overwhelm, chaos, and no real leverage. Because no one project or product

ever gets full, consistent attention, nothing ever becomes a home-run.

If this sounds familiar, focus your time and energy for at least 2 -3 months on getting

one revenue source (the one you feel is going to be the most lucrative and enjoyable) up

and running like champ. You don’t have to drop the rest, but they become much lower

priorities.

Then, once you have one revenue source really cooking with gas, you’ll have the time

and profit to expand out.

“When pinpointing my business model, is it important to choose only one? I seem to

overflow from Service to Expert. I would like to host workshops, get paid to speak,

potentially offer ebooks (although my industry seems more hands-on than virtual)

and be available for consultation. Can I flow between two, or will focusing on just one

model give me a better chance at success?”

A: You can definitely have a combination, but be wise about how many things you put


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on your plate at once (see above!). I’ve also answered this question below so read that

too. In the beginning, most of us have to do several different things to get money com-

ing in the door. The trick is to pay attention to what’s working (and do more of that!)

and then adjust as you go. There’s no “one right way” to do this so trust your gut and be

honest with yourself about your ability to manage your time and projects. Revisit the

Follow-Through Formula too.

“I’ve started working through the profit clarity module. But now that I’ve also started

reading the “Start the Right Business” book, I’m wondering: do you think it’s impor-

tant for me to do that work FIRST, even if it means falling behind with the B-School

modules? I really want to get started on the right track from the get-go, but I don’t

want to miss out on the live calls, etc. because I’m behind on the modules.”

A. “Start the Right Business” is vital to start with. If you can manage, work both at the

same time. But the trick is not to freak out if you can’t do “every exercise” right now,

especially in B-School. Watch the B-School videos, and show up to the calls. You’ll get

an understanding of what it will take to make the right business take off. The most

important thing is to be kind to yourself and remember that most of our students go

through the B-School many, many times since you have lifetime access. Trust your timing

and trust that you’ll get everything you need, in the right time. Putting extra pressure or

stress on yourself won’t help you find the clarity or inspiration you need to rock

your business.

“Is it necessary to choose one business model or can it be a combination?”

A. It can be combination, you just need to be really clear about what mix you want,

what exactly that is, and how much money each of those revenue streams can bring in.

Here’s an example of how I have both physical products as well as offer services in my

business:


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A product that I have is my Make Every Man Want You book. It’s a physical product and

you can hold it in your hands.

Adventure Mastermind is group program coaching program I used to run and it was

much more of a service based offering. It wasn’t a tangible thing that you could hold in

your hands, it was an experience that was service based.

In this module’s money tracking Fun Sheet, take a look at the example of how much

money you get from certain things. For example, “I got X amount of money from coach-

ing services. I got X amount of money from my ebooks.” That’s a combination of differ-

ent revenue streams that are products AND services. Doing this Fun Sheet will help you

realize if it makes sense in your business to do just one, do both, and how much time and

energy you should put toward each one.

“I’m trying to move my business from 1-1 coaching and selling my time, to more of a

product based business. What keeps me stuck in the model is that people don’t seem

to want to learn how to do things on their own, they want me to do it for them. Any

suggestions for how to make that transition?”

A: You might consider keeping your offering of helping people 1-1, but have other people

do that work for you. You can train people and you can charge a fee for the manage-

ment. If they want to learn how to do the program themselves, then you can offer them

your program where you teach it to them step by step.

“Should I do STRB first? Do the modules first? How do I combine them?”

A: Starting a new business, even if you’re totally clear on your idea, takes time and it’s

messy. My suggestion is to work in tandem with “Start The Right Business” and Module

1. Yes, it’ll be a little hectic, but what isn’t in life? I don’t know any business owner -- and

I’ve met thousands of them -- from microbusinesses to billionaires, who’s ever said, “You



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know what? Starting my own business was the easiest thing ever! It was all really neat and

organized. I knew exactly what I was doing every step of the way and everything fit into

these neat categories. I woke up followed this exact formula and BAM - I’m a success.”

That’s just not realistic.

Give yourself permission to dig in and get a little dirty right now. “Start the Right Business”

is a vital foundation that will help you identify your business model, make sure that you

have proof of concept, and make sure that your vision for your business lines up with your

lifestyle goals and income goals. I can’t rush that process for you, no one can. I’ve seen so

many people go through “Start the Right Business” and have huge lightbulb moments.

For example, some people go through “Start The Right Business” and they’re disappoint-

ed because they realize their original business idea isn’t really as viable as they thought it

would be. Other people are relieved because they’re not going down the path of spending

all this time and money building an idea that’s not really going to work. So do your best to

work through “Start the Right Business” and to do B-School in tandem.

Let’s take Module 1. If you don’t know exactly what your business is yet, it’s going to be

nearly impossible to do an ideal customer avatar or do your money tracking. However,

what’s valuable about reviewing those exercises is that you’ll know whatever business you

choose, those are the steps you’re going to have to take. You’re going to have to get real

about numbers and you’re going to have to select an ideal customer avatar to work with.

So it’s a preview of what’s coming ahead. While you may not be able to complete all the

module exercises, you’ll have an awareness of what’s ahead and that’s going to support

you as you crystallize your business idea.


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“Should I keep going even if I’ve been working through ‘Start the Right Business’ and

feel stuck?”

A: Absolutely. Get into B-School and get into the modules. I can’t tell you how many times

in my own business when I was learning a new idea or set of concepts, I found myself

stuck on ONE idea, but kept going and later had an unexpected breakthrough.

Put a mental pin in it and say, “Ok, great. Got it. I’m going to have to come back and revisit

this.” If you can, do your best to stay up to speed with us as much as possible so that

you’re staying with the energy of the program. Again, don’t beat yourself up for skipping

things that don’t make sense for you right now. But if you’re here and if you’re thinking,

“Well, I’m just going to quit because I didn’t get this video from one module,” that’s not a

wise approach.


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MiscellaneousANSWER VAULT

“I don’t have a business. Where should I start with this module?”

First, read “Start the Right Business.”

Then, as you go through B-school you’ll be learning everything about running a business,

while having the wisdom from “Start the Right Business” as your lens. You’ll connect the

dots, learn from other members and get inspiration and ideas all over the place.

“How can I make the most out of this program?”

A: You might be asking yourself, “Do I have to finish each module by the end of the

week?” You don’t have to. It’d be awesome if you could, but everyone has different

responsibilities, and everyone is in a different place on their entrepreneurial journey. So,

again, it’d be ideal, but please don’t beat yourself up. You have lifetime access to B-

School.

“I am officially stuck! My business has always been about intuition, determination and

drive. I feel so bogged down with these details and worksheets and feel like I’ve lost

myself in this work. Help!”

A: I hear you. And, I want you to know that all the Fun Sheets require your intuition,

determination and drive — so you’ve got exactly what you need to succeed. As a big

picture person myself (who relies heavily on intuition) — I can tell you that these very

exercises have allowed me, and thousands of others, to harness and channel all our gifts

into a sustainable business.

Just do your best, and remember to have fun. Make up answers where you need to and

let yourself enjoy this process. Remember that growth is NOT comfortable. But if you

want different results in any area of your life — you need to stretch and get uncomfort-

able for a bit.


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“How should I deal with overwhelm?”

A: I don’t know anyone who doesn’t struggle with the amount of things they have to do

everyday, the amount of responsibilities they have, managing the amount of information

coming into them or how much they want to produce or enjoy in their life. So it’s not just

about overwhelm in B-School, it’s a larger global issue.

This comes back to “The Follow Through Formula.” You’ve got to be a wise and respon-

sible self-manager of your focus, time, energy, and attention. You must define success,

and your priorities for yourself.

We created this program so that we could take people through an experience in 8

weeks. That’s a lot! We’ve had past graduates say that B-School is more intense, com-

prehensive and in depth than PHD and some MBA programs. But that’s also why we

give you lifetime access.

Trust that you’ll get exactly what you’re supposed to get this time around. Indulging in

overwhelm is just not useful, it’s not a great use of your time or your energy and it cer-

tainly doesn’t help you get things done. So please, be gentle with yourself. Understand

that our grads go through the program multiple times, and if you’re wise, you will too!

“You’ve mentioned that leaving our comfort zone can be painful but rewarding. Do

you have any specific advice for handling these growing pains?”

A: Growth is painful for all of us. No one gets a free pass. Keep your sense of humor, stay

focused on non-negotiable self care (for me it’s daily meditation, exercise, green juice,

dance) and don’t take anything too seriously. Enjoy this sweet adventure called life. The

biggest growing pains always make the best stories.


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“I’m eager to build relationships online with the other participants in B-School.

However, I want to be targeted and efficient with my time. There are thousands

of posts and I’m just not sure how to make the most of the comments and forum

element. Can you please offer advice on how to read and comment on comments

made and how to post in a way that gets good feedback?”

A: There’s no magic formula, except the Golden Rule. Scroll and comment where you

feel you can genuinely make a difference. Be kind, generous and thoughtful in your

responses. Openly give encouragement, and provide resources. Always give more than

you expect back. When you ask a question, be sure to make it concise, relevant to the

module and ask for one piece of feedback at a time. Remember you can also connect

with people individually via our member directory, and you can post in the private Face-

book group as well. Like life, there’s no one way to do it. You gotta just dive in, partici-

pate and enjoy the ride.

“What do you do if you give away such good stuff for free that people don’t have any

desire to buy?”

A. Stay tuned. We talk more about that in the program, especially in the last two mod-

ules: Creating Products and Programs that Practically Sell Themselves, and Timeless

Marketing.

“When building the foundations of your business, as discussed in Module 1, when is

the point when you say enough is enough, it’s time to start implementing? I haven’t

felt ready to market and promote heavily yet because I feel I need to work on the

fundamentals still but this process has been going on for 12 months now. How do you

know when you have the foundation in place and it’s time for the next stage?”

A. Now is always the best time to implement. Period.

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“Is there a certain point where displaying too much personality in our marketing can

come off as unprofessional?”

A: Ask yourself, “Would I be self conscious if the New York Times had this on the front

cover?” Use that as your filter to keep your fun nature without censoring yourself.

We’re living in a very interesting time. We’ve never had the opportunity to be as self

expressive and creative as we can now. Anyone can publish on demand, and it’s a bit of

a free for all.

Use your judgement and understand some people will like you, and some won’t. Either

way, as long as you’re being authentic to what YOU want and can stand behind, you’re

golden.

“I fear I’ll be criticized by others for the choices I make about my business. I really

want to gain trust and respect within my industry, so how do I work through those

feelings?”

A: No matter what you choose to do in life — there will be critics and skeptics. The more

successful you are in any industry, the more people will come out against you. Unfortu-

nate — but true. So then you must ask yourself, are you living your life for you or for the

critics?

You must cultivate respect and love for yourself. You can’t control what anyone thinks or

feels about you. If you start editing yourself, or seeking approval — even from powerful

peers — you’ve put a cap on your creativity, and you’ll still be living for the approval of

others. It’s not a fun existence.That’s because you’ve mistakenly placed your self-worth,

and your self-respect outside of yourself. You are the only one who can make you truly

feel OK in life. One of my favorite quotes from Maya Angelou: “Success is liking yourself,

liking what you do, and liking how you do it.”

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