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Surprise, it's me again.
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Now that you filled out part one, you
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should have clarity around your core
business.
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Let's look at my worksheet at the very
basic core what does your business do?
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My answer?
My company provides educational content
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and courses that help people start and
grow their small businesses.
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Used at home and online.
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How is it sold?
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My products are sold direct to consumers
from my website.
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I've spent 14 years building startups,
some bootstrapped out of the back of my
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car and some with investors behind them.
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I've hired hundreds of people, I've
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raised money, I've done things really,
really right, and I've done things
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really, really wrong.
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I'm ready to apply what I know to this
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business and share that knowledge with
you.
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I've done that a little bit with my books
and podcast, but now this is my full time
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job. I want to take my 14 years of knowledge
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out of my head and help people like you.
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After someone takes this course or
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business class, I want them to create a
more fulfilling life for themselves, or
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build their business and shoot for the
stars, or maybe both.
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I want to keep my product line narrow.
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I'll have business class, some ebooks,
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maybe another course or two.
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I want to keep it focused.
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It's so easy for me to just go off and do
more because I have a ton of ideas and
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I've done it before.
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So that's why a course like this is so
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important. I've signed up for more in the past, but
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now I'm ready for less.
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This also plays to my strengths.
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I'm an introvert.
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I don't like getting up on stages, I
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don't like doing things live.
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It scares the shit out of me.
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All my successes have been from behind a
computer.
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I wrote girl boss behind a computer by
myself.
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I started nasty gal behind a computer by
myself.
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I do very well as an individual
contributor who touches a lot of
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different parts of the business.
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And if I'm able to keep the team small,
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that's something that I can keep doing,
which I really want.
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And doing this online is also what I
want.
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I also think this is the way people are
learning these days.
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Education has never been more accessible.
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The online education space is growing
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quickly. So to sum it up, I'm lucky and I'm
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excited that what I'm great at fits into
the world today.
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Ok, so now let's dive into Part 2 of
today's session.
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Part of the process of defining your
business is understanding the
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marketplace. This can often be referred to as
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competitive analysis and even established
businesses who are constantly looking at
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their business through SWAT exercises,
which I actually talk about in business
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class strengths, weaknesses,
opportunities and threats in emerging
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brand new markets.
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Sometimes the term competitive is a
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negative way of looking at things.
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For example, while Starbucks now seems
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ubiquitous, in its earlier days it
inspired a revolution of gourmet coffee
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which created an entire industry with a
variety of companies big and small.
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But I did grasp.
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This exercise helps us get clear on other
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businesses that have the same or similar
core product.
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It'll help you get clear on where there's
white space in the marketplace and what
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your differentiating factors are.
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Even if you're just starting, you likely
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have some kind of competitive advantage.
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Maybe your business models better.
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Maybe your design is better.
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Maybe you can source better product.
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Maybe you have a network of influential
friends who will help you market.
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Identifying your advantage is key because
you'll know where to lean in and you'll
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understand where you might be deficient.
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O let's take some time to fill out Part 2
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of today's worksheet.
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It might require you to do a little
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research and self reflection.
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I'll be back in the next video to talk
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through my thoughts and answers.
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