Getting Started - Ready, Fire, Aim: Stage 1 (0-$1M)

[Andy Black]

From Michael Masterson's book "Ready, Fire, Aim".


Stage One - Infancy (Zero to $1M in annual revenue)


Main Problem:

• You don't know what you're doing. (lol... I can relate)

Main Challenge:

• Making the first profitable sale.

Main Opportunity:

• Continuing to sell until you have achieved a minimum critical mass of customers.

Skills needed:

1. Getting things going.
2. Selling.

My notes:

• You're trying to find a product that people need and are willing to pay for, then find the Optimum Selling Strategy (OSS) for that product.
• Once you're selling profitably, then focus on that product and scale, scale, scale.
• Stage 2 is when you plateau with this product and then start building other products to sell to your customer base.

 

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[kph200]

Wasted 2mins of by life.

 

[Andy Black]

Wasted 2mins of by life.

Go read the book...

 

[theag]

Wasted 2mins of by life.

Judging from your posts so far and the personality you exhibit in this thread, you are actually wasting 24h of air each day.

 

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[GuestUser113]

 

[jon.a]

Wasted 2mins of by life.

Jerk

 

[ZeroExile]

Wasted 2mins of by life.

Were you expecting to make 1m because of the title?

 

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[kph200]

Wohhh guys I apologize if I offended any of you. Content of this thread is too regular or basic.
That's why I wrote what I wrote.
Again my intentions were not to make fun of it or any such thing.
GN

 

[Andy Black]

Content of this thread is too regular or basic.

It's genius because it's so simple.

I didn't write it btw... I'm not smart enough to summarise stage 1 problems and the solution so simply.

Seriously though, go read the book. Highly recommended.

 

[theag]

Content of this thread is too regular or basic.

You obviously dont know what the F*ck youre talking about.

 

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[fastattack03]

He probably didn't know that this is a progress thread... (it is, right?) lol

Anyway, good luck man!

Love your posts!!

 

[timmy]

Wasted 2mins of by life.

Please do not entertain us with such juvenile nonsense. Enough of my time wasted replying to sideline issues.

 

[timmy]

From Michael Masterson's book "Ready, Fire, Aim".


Stage 1 - Infancy (0-$1M in annual revenue)


Main Problem:

• You don't know what you're doing. (lol... I can relate)

Main Challenge:

• Making the first profitable sale.

Main Opportunity:

• Continuing to sell until you have achieved a minimum critical mass of customers.

Skills needed:

1. Getting things going.
2. Selling.

My notes:

• You're trying to find a product/service that people need and are willing to pay for, then find the Optimum Selling Strategy (OSS) for that product/service.
• Once you're selling profitably, then focus on that product/service and scale, scale, scale.
• Stage 2 is when you plateau with this product/service and then start building other products to sell to your customer base.

Great post Andy. I will bookmark for later.
Thank you for sharing

 

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[Growth & Learn]

Wasted 2mins of by life.

Man, we're all sharing ideas here. Andy is someone who overwhelmingly shares a lot of solid ideas.

He was clearly starting the thread to just discuss the book. Not summarize how to make 7 figures in 1 damn forum post.

Here's how you can get 'credit' on that 2 minutes. Go watch some of his adwords vids. Take notes son.

 

[Andy Black]

I'm sure @kph200 regrets causing all the fuss, and he's apologised already so that's grand.

I'm also sure he's not the only person to read Michael Masterson's summary of the starting stage of any new entrepreneur's journey and dismiss it as being too basic.

Is that another mindset issue we have?

That it couldn't be as simple as that?

That the two biggest skills we need couldn't just be "getting things going" and "selling"?

Would you be surprised to learn that someone thinks the biggest problem for most of us (myself included) is that "we don't really know what we're doing"... aka WE are our biggest problem.

Sh*t man... that resonates with me.

IMO, you have to have a really deep understanding to be able to explain anything that simply.

 

[Rahim]

Great post Andy. Can't wait to read the book!

 

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[Growth & Learn]

I'm sure @kph200 regrets causing all the fuss, and he's apologised already so that's grand.

I'm also sure he's not the only person to read Michael Masterson's summary of the starting stage of any new entrepreneur's journey and dismiss it as being too basic.

Is that another mindset issue we have?

That it couldn't be as simple as that?

That the two biggest skills we need couldn't just be "getting things going" and "selling"?

Would you be surprised to learn that someone thinks the biggest problem for most of us (myself included) is that "we don't really know what we're doing"... aka WE are our biggest problem.

Sh*t man... that resonates with me.

IMO, you have to have a really deep understanding to be able to explain anything that simply.

It's obviously a summary but you make a good point. We just have to take it just a step farther.

1.The skill of creating an idea and then executing the build is huge. Most people can't complete that task. It's a valuable skill for sure.

2. Also, the better you are at selling the more money you'll make as well. So, that's also an indispensable skill.

I'm seeing #2 more and more being one of the biggest movers in my business. The more I understand all the different ramifications and layers of selling the more I can serve my customer and be rewarded in the process.

 

[Uly Sambrano]

Ima have to read the book since im new and just heard about this

 

[Chaseb731]

Wasted 2mins of by life.

You may want to read more if that took you 2 minutes to read.

 

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[nzerinto]

From Michael Masterson's book "Ready, Fire, Aim".


Stage One - Infancy (Zero to $1M in annual revenue)


Main Problem:

• You don't know what you're doing. (lol... I can relate)

Main Challenge:

• Making the first profitable sale.

Main Opportunity:

• Continuing to sell until you have achieved a minimum critical mass of customers.

Skills needed:

1. Getting things going.
2. Selling.

My notes:

• You're trying to find a product that people need and are willing to pay for, then find the Optimum Selling Strategy (OSS) for that product.
• Once you're selling profitably, then focus on that product and scale, scale, scale.
• Stage 2 is when you plateau with this product and then start building other products to sell to your customer base.

So simple, yet I think so many of us (definitely including myself in this!) tend to overthink things waaaay too much, and forget to bring things back to basics.

Thanks Andy!

 

[Digamma]

I'm also sure he's not the only person to read Michael Masterson's summary of the starting stage of any new entrepreneur's journey and dismiss it as being too basic.

It's a system. Systems look unimportant only to people who never actually put themselves in the position of needing them. The steps to starting a venture are one of those things that look easy from the outside.

How is the book, Andy? Does it blueprint other steps?

 

[Andy Black]

Awesome, awesome book. I've listened to it twice (it's easy to listen to on audible), and the hardcopy arrived this week that I'm working my way through.

Michael Masterson defines 4 stages and, even though the first is the most applicable to me (and most of us probably), it's worth looking at the others even if it's just to make you realise you need to 100% focus on this first stage and that the other stages will be covered when you're there. Cross those bridges when you get to them.

I think this book is the current MJ giveaway too, so add yourself to the list if you haven't already.

 

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[GSF]

Arrived the other day;


I've read his other books but I'm liking this book, has a good mix of direct response marketing and start up business advice, his writing style is easy to read and this is someone who knows what he's talking about has a lot of experience, he's also the creator of the blog/newsletter earlytorise.com for those who didn't know already, I put this up there with MFL

 

[Peakdesire]

Ordered mine a week ago. Still waiting for it

 

[jmusic]

It's a system. Systems look unimportant only to people who never actually put themselves in the position of needing them. The steps to starting a venture are one of those things that look easy from the outside.

How is the book, Andy? Does it blueprint other steps?

Is this system simple? Yes, it is extremely simple.

Is it easy? Absolutely not!!!

I've heard that ideas are cheap; execution is king! (Source? TMF ??)

 

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[Michał Kóska]

Simple and nice,

Don't forget folks that first you need to earn a $10, $100 to make your way up to the millions,

You won't earn $1000000 in the 1st transaction

Keep these post coming @Andy Black

 

[Uly Sambrano]

You may want to read more if that took you 2 minutes to read.

I was thinking the same thing lol

 

[Growth & Learn]

Bought mine just now. Ready to dig in...

 

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[Mattie]

Sh*t man... that resonates with me.

I believe in simple things. And usually I don't know what I'm doing until I get there every step of the way. lol

 

[#nowhere]

So a bump for a question on this book and maybe a discussion:

Michael Masterson says that you can (and he even recommends it in case you have no idea what else to pursue product-wise) do me-too products first and then come up with new ones (that generate the main profit. the frontend products are part of sales funnel and should pull in costumers). He also recommends to look up "hot" products in the market. So he's recommending to go into a highly competitive market or a market that is hot. So others on this forum recommend this too but add the fraction : "always add value" (comes up everytime in relation to FBA and doing a product in a highly competitive niche. Guys like bio always say: go, do it, as long as you add value (or a zipper, or another colour or and so on and so forth))

I think that the opinion of masterson is a totally different one in comparison to MJ's regarding new products/innovation?

I want to ignite a discussion and are totally open to other opinions! In case I got something wrong please tell me...


Go for it!