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INTRO Entrepreneur ready to ditch the Slowlane for the Fastlane

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Stu Schaefer

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Read Millionaire Fastlane
Feb 8, 2018
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Hey everyone!

I just got and read TMF and it was one of the best books I've read in a long time. Thanks @MJ DeMarco

I've always been an entrepreneur since I graduated college in 2007... actually since I was mowing lawns when I was 13!

It took me until 2015 to figure out that I was a slave to sole-proprietorship, trading my time for money.... For the last few years I've been trying to get going with a truly passive, scalable business that can allow me to build free time and wealth.

I've been a personal trainer since 2007, and currently work 3 days a week and make a great income while working on my "days off" to create a fastlane process and business.

I feel like I'm getting close, but I'm missing something. Nothing has been able to lift off the ground yet.

My current business projects/ideas are at the bottom of this post.

Both are in their infancy. I'm wrestling with the CENTS test ... specifically the Need and Entry components since it seems like so many online "membership" sites and academies are sprouting up these days.

Of course I'm here to learn and offer any information I can on what I've learned about sales, marketing, business, leadership, mental toughness, etc... over the last 15 years.

If you have some time and would like to share any insights, I would love to hear your thoughts!

Thank you in advance and I'm glad to have found this group (by accident a few days ago).

****
One business is to turn my personal training experience into an online academy that teaches new personal trainers how to make 6-figures (which I do) and how to differentiate themselves from all of the other personal trainers.

The other idea is a site for parents and kids that teaches kids the life skills to be successful after school, get scholarships if they plan to go to college, and learn leadership and financial skills.
 

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Andy Black

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Hey everyone!

I just got and read TMF and it was one of the best books I've read in a long time. Thanks @MJ DeMarco

I've always been an entrepreneur since I graduated college in 2007... actually since I was mowing lawns when I was 13!

It took me until 2015 to figure out that I was a slave to sole-proprietorship, trading my time for money.... For the last few years I've been trying to get going with a truly passive, scalable business that can allow me to build free time and wealth.

I've been a personal trainer since 2007, and currently work 3 days a week and make a great income while working on my "days off" to create a fastlane process and business.

I feel like I'm getting close, but I'm missing something. Nothing has been able to lift off the ground yet.

My current business projects/ideas are at the bottom of this post.

Both are in their infancy. I'm wrestling with the CENTS test ... specifically the Need and Entry components since it seems like so many online "membership" sites and academies are sprouting up these days.

Of course I'm here to learn and offer any information I can on what I've learned about sales, marketing, business, leadership, mental toughness, etc... over the last 15 years.

If you have some time and would like to share any insights, I would love to hear your thoughts!

Thank you in advance and I'm glad to have found this group (by accident a few days ago).

****
One business is to turn my personal training experience into an online academy that teaches new personal trainers how to make 6-figures (which I do) and how to differentiate themselves from all of the other personal trainers.

The other idea is a site for parents and kids that teaches kids the life skills to be successful after school, get scholarships if they plan to go to college, and learn leadership and financial skills.
Welcome.

I wouldn't worry about all the online membership sites and academies popping up now-a-days. Just because they're easy to create doesn't mean there isn't a big barrier to entry to creating a successful one. To make it work I think you've got to have the chops to do the work, and have served your time teaching others. Then you've got to work out how to get in front of your target market and provide them with the training that will get them the results they want.


James Schramko has a lot of podcasts about memberships, and it's his preferred business model. Check out his podcasts at List All. Maybe this one might be just the ticket? 570 – How To Start And Grow An Online Membership From Scratch

I actually joined Jame's membership a couple of months ago and had a call with him last week that I'll drop into the forum soon.


One business is to turn my personal training experience into an online academy that teaches new personal trainers how to make 6-figures (which I do) and how to differentiate themselves from all of the other personal trainers.
Ha. MJ uses personal trainers a lot as people who "follow their passion" but can't make a business out of it. I think there's a big need there. Are there other memberships out there already that personal trainers are in? What do they currently spend their money on to help them grow their business?


Are there Facebook groups you can join that are inhabited by personal trainers... where you can listen for their greatest problems and maybe start helping them immediately?

Maybe this thread might help:

I'm literally building a membership at this moment in time. You can see the progression from creating a course to it morphing into a membership in my marketplace ad here (look for the latest posts from maybe post 105 onwards): Marketplace - Andy's AdWords Course - Get found by the people already looking for you
 
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Van Halen

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Mar 3, 2017
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Honestly I would put some free videos on youtube first to capture an audience, then segue into the course
 
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Stu Schaefer

Stu Schaefer

Contributor
Read Millionaire Fastlane
Feb 8, 2018
14
42
23
United States
Welcome.

James Schramko has a lot of podcasts about memberships, and it's his preferred business model. Check out his podcasts at List All. Maybe this one might be just the ticket? 570 – How To Start And Grow An Online Membership From Scratch
...

Are there Facebook groups you can join that are inhabited by personal trainers... where you can listen for their greatest problems and maybe start helping them immediately?

Maybe this thread might help:

I'm literally building a membership at this moment in time. You can see the progression from creating a course to it morphing into a membership in my marketplace ad here (look for the latest posts from maybe post 105 onwards): Marketplace - Andy's AdWords Course - Get found by the people already looking for you

Thanks Andy! I'm reading what you sent and clicking links now...
 
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Stu Schaefer

Stu Schaefer

Contributor
Read Millionaire Fastlane
Feb 8, 2018
14
42
23
United States
Honestly I would put some free videos on youtube first to capture an audience, then segue into the course
Thanks @Van Halen ... do you have any experience with YouTube and getting people to find your content?

I've looked into it, and have posted a few demo videos, but often my view rate and like rate are dismal ...
 

Andy Black

Dad, husband, entrepreneur.
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
May 20, 2014
11,119
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4,306
Ireland

MiaMills

Contributor
Read Millionaire Fastlane
Feb 6, 2018
25
34
28
US
Welcome! I'm looking into building an online membership forum with a specific target audience, as well. Among other things, lol. I keep reading here that Facebook groups are great for figuring this out, but the irony is that Facebook is the reason I want to make an alternative! :) It does make sense that it's a great place to learn and gather info, of course. Best wishes!
 
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Stu Schaefer

Stu Schaefer

Contributor
Read Millionaire Fastlane
Feb 8, 2018
14
42
23
United States
Welcome! I'm looking into building an online membership forum with a specific target audience, as well. Among other things, lol. I keep reading here that Facebook groups are great for figuring this out, but the irony is that Facebook is the reason I want to make an alternative! :) It does make sense that it's a great place to learn and gather info, of course. Best wishes!
Thanks @MiaMills. I'm looking forward to sharing progress and discussing ideas with some brilliant people here!
 
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Stu Schaefer

Stu Schaefer

Contributor
Read Millionaire Fastlane
Feb 8, 2018
14
42
23
United States
Andy,
I'd love your insights...

So I just did a quick search in the USA... there are 85 million moms. There are only 350,000 personal trainers.

If 10% of the moms still have kids/teens in the house, that's about 8.5 million.

If I could reach one tenth of 1%, that would be 8,500 moms paying $9.95 per month for my online academy... that would be almost $85,000 per month. Seems reasonable and possible as long as I clearly identify and solve the biggest problem/need and created a great execution.


If I could reach the same one tenth of 1% of the trainers, that would be 350 paying $19/month for an online business building academy... would be about $7,000 per month... this seems a lot more limited.
 

Andy Black

Dad, husband, entrepreneur.
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
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Andy,
I'd love your insights...

So I just did a quick search in the USA... there are 85 million moms. There are only 350,000 personal trainers.

If 10% of the moms still have kids/teens in the house, that's about 8.5 million.

If I could reach one tenth of 1%, that would be 8,500 moms paying $9.95 per month for my online academy... that would be almost $85,000 per month. Seems reasonable and possible as long as I clearly identify and solve the biggest problem/need and created a great execution.


If I could reach the same one tenth of 1% of the trainers, that would be 350 paying $19/month for an online business building academy... would be about $7,000 per month... this seems a lot more limited.
Just start?

I never do these pie in the sky calculations. Once you get going things will pan out totally different anyway.

Jump into the rapids and see where it takes you?

Gather data from taking action, and analyze what you’ve already done?

Test both ideas? If it gets you out of analysis-paralysis and means you start earlier, then that’s probably a good thing.

It doesn’t matter how many moms or PT instructors are out there. There’s enough in both demographics. (“Only 350,000”? That’s huge if you can reach them and have an offer that converts.)

It matters whether you can add value, whether you can reach them to add that value, and whether you can get profitable doing so.

Figure out how you can add value, and figure out how you can get paid.

“You don’t learn until you launch.” (Dan Norris)
 

MiaMills

Contributor
Read Millionaire Fastlane
Feb 6, 2018
25
34
28
US
If I could reach one tenth of 1%, that would be 8,500 moms paying $9.95 per month for my online academy... that would be almost $85,000 per month. Seems reasonable and possible as long as I clearly identify and solve the biggest problem/need and created a great execution.
Are you implying that moms would join your academy to learn...? What exactly? What's the need there? I can tell you right now that the number one thing that brings value to busy moms is something that saves them TIME. I've got 4 kids, 3 of which I homeschool. Pick my brain. What can you offer that will make my life better/easier? Perhaps helping them become certified as a personal trainer so when they are ready to go back into the workforce (if they've been at home for any length of time) the transition and learning curve would be greatly reduced?

Just some thoughts!
 

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Stu Schaefer

Stu Schaefer

Contributor
Read Millionaire Fastlane
Feb 8, 2018
14
42
23
United States
Are you implying that moms would join your academy to learn...? What exactly? What's the need there? I can tell you right now that the number one thing that brings value to busy moms is something that saves them TIME. I've got 4 kids, 3 of which I homeschool. Pick my brain. What can you offer that will make my life better/easier? Perhaps helping them become certified as a personal trainer so when they are ready to go back into the workforce (if they've been at home for any length of time) the transition and learning curve would be greatly reduced?

Just some thoughts!
@MiaMills that's a great point! Thank you... the website for moms/parents is a site that offers a curriculum to build life skills for their kids. It's designed for kids to be able to watch, and parent to optionally participate with their kids.

I would love to pick your brain because you are my target market.

There are 40, 4-10 minute lessons for kids covering mental toughness, academic skills, financial skill, plus a guide that acts as a life-skills manual for kids and covers home essentials and automotive skills in addition to the other skills I just mentioned.

The site and curriculum are finished and running... but the level of interest has been mixed... maybe there's no need? Your input would be well accepted! I'd be happy to let you "beta test" the site and see if it's helpful or not...
 
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Stu Schaefer

Stu Schaefer

Contributor
Read Millionaire Fastlane
Feb 8, 2018
14
42
23
United States
Just start?

Both sites are up, but after reading TMF, I'm left with more questions about assessing the true need... how to test... how to decide when to move onto something different if it's not working... etc.

The last thing I want to do is spend a year working diligently to build up something that doesn't have the need or that "everybody else is doing" and I'm not exceptional at.

My downfall in the past has been taking action too fast before I even know if there is a need/market... spending months creating a product that no one wants, and then getting discouraged.

The Parent website squeeze-page converts at 12%... I have 300 email subscribers that have also been offered the online academy and no one has committed. I think there's a need, but I'm not sure I'm solving or addressing the right problem...

Ugh... there are so many variable and questions. I sometimes drive myself crazy sometimes.

Here is what the courses look like at the parents/kid site:
Courses | Prepare My Kid: Life Skills for Kids
 

Andy Black

Dad, husband, entrepreneur.
Staff member
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How many of your 300 have you spoken to?

Listen to the second call I had with @Scott maybe?
 

MiaMills

Contributor
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Feb 6, 2018
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Ok, so a couple of things.

Social/study skills or household skills. I think personally, your format is better geared toward the study and social skills rather than household. Cleaning, cooking, chores, etc. is something that's supremely difficult to implement with just a video instruction. It takes a system, consistency, and usually positive reinforcement/incentives. I'm not sure you offer enough in this realm and there are lots of other products, apps, charts, systems out there for this.

What's the target age? I could see my middle-schooler benefiting, as well as early high school. My 10 year old wasn't really into it yet.

Some feedback from the 12yo: Some of the titles were off. Using the word "Mega" is apparently a big no-no. LOL Boost Confidence would be better. Making Choices to Positively Impact Your Life and Talking to Parents About Difficult Topics were other suggestions.

More graphics might be good on titles.

Ebook pricing for $17--maybe a bit high?
No info available for the Physique ebook. Are you including health/fitness in your skills? I would.

Overall really like the website! Check the bio description going from He to I (keep the same tense). The personal story video was a great touch and I would highlight this as one of your strongest points. Maybe move it to the top, even! Kids did lose interest after 5 minutes but were compelled by your story, just couldn't keep attention long enough to get to the successes. Could you edit it down and still keep the message in tact?

Community feature is important, but maybe just link to a FB Group for this? It will streamline for most parents already on FB.

How do you track progress for completion and retention of info? Positive reinforcement is something you could implement if you haven't already. Like the way we get rep $ here, kids need rewards. Virtual trophies. Points. Something like that. Parents might like to see what they've done and haven't done. (Maybe that's on the dashboard I couldn't access?) Also, how long will it take to complete? How many hours of info? Stuff like that is helpful.

I do like the idea. I think middle school/high school age kids especially need a resource for more difficult stuff (kids this age are now dealing with depression, anxiety, stress, cutting, suicide...it's crazy) that isn't their parents but encourages talking to parents. And social skills is huge in this tech screen age. That would make it worth it to me as a Mom. Will you be approaching any of these difficult topics? Maybe you could partner with a counselor/psychologist to get some appropriate content in those areas if you wanted to do something like that.

Hope that's helpful for you and not to much criticism!
 

MiaMills

Contributor
Read Millionaire Fastlane
Feb 6, 2018
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@Stu Schaefer sorry I went back and saw the completion percentage at the top. Can parents see that somewhere else, too?

How much are you charging for the course(s)? Didn't see that either. :)
 
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Stu Schaefer

Stu Schaefer

Contributor
Read Millionaire Fastlane
Feb 8, 2018
14
42
23
United States
Firstly, thank you for the wonderful feedback... I appreciate your time and how quickly you looked at everything for me.

There's no such thing as too much criticism/feedback... especially from my target audience and their kids.

They do get virtual trophies.
I do approach the topics you mentioned.
You do get access to the health/nutrition guide too.
The idea is to do 1-2 lessons/week and practice them over the course of 6mo-1yr

The cost is $12/month or 128/year... this includes all course and both e-books

I'd be happy to give you access for a year for your help ...and you could see if it's easily integrated with your schedule and if it's helpful in any way... if not, that's OK too.

The Blueprint e-book/guide has all of the step-by-step home essentials and other things that kids would need directions for when they move out or when they're trying to learn at home.
 

MiaMills

Contributor
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Feb 6, 2018
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I don't think I can commit a year of my time for this. I'm sorry!

Can you simplify/streamline and make it cheaper? $12/mo is more than I pay for the (increased) price of netflix. It's more than I pay for Amazon Prime. It's more than I pay for my grocery delivery membership.

Something to think about.
 
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Stu Schaefer

Stu Schaefer

Contributor
Read Millionaire Fastlane
Feb 8, 2018
14
42
23
United States
I don't think I can commit a year of my time for this. I'm sorry!

Can you simplify/streamline and make it cheaper? $12/mo is more than I pay for the (increased) price of netflix. It's more than I pay for Amazon Prime. It's more than I pay for my grocery delivery membership.

Something to think about.
All great points! Things that no one has spelled out for me, but that are invaluable... I had to wrestle with them, but a new perspective just opened up... How can I thank you?

Would you like a copy of the "Life Skills Blueprint"? or anything else? I'm happy to help for your time and great insights!

Thank you so much!
 

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MiaMills

Contributor
Read Millionaire Fastlane
Feb 6, 2018
25
34
28
US
All great points! Things that no one has spelled out for me, but that are invaluable... I had to wrestle with them, but a new perspective just opened up... How can I thank you?

Would you like a copy of the "Life Skills Blueprint"? or anything else? I'm happy to help for your time and great insights!

Thank you so much!
Thank you is enough. I'm happy just to be helpful! Glad you found some value in it. :)
 

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