What Is A Lifestyle Business?

What Is A Lifestyle Business?

lifestyle businessThat’s a very good question and one that was asked at our workshop yesterday.

There was a picture of a guy in formal attire sitting on a deckchair on a beach with the waves lapping at his feet …

Now we all know that conjures up the the kind of business we would like and that’s what it’s meant to do …  but let’s face it no one is going to be dressed like that in real life on a beach!

So let’s answer the question “What is a lifestyle business?” with the benefit of our experience.

In essence, a lifestyle business is one where you ‘work on the business’ versus ‘working in the business’

cash flow quadrantIf you have ever read Rich Dad Poor Dad by Robert Kiyosaki  you will have heard of the Cash Flow Quadrant … and if you haven’t then we definitely recommend that you read it and check out.

We have both been entrepreneurs for as long as we can remember and had our own businesses but we were in the “S” quandrant – meaning ‘self employed’   That meant in effect that our business totally relied on us and our time to be successful and make money.  We were working ‘IN‘ our business.  Whilst we had a good income it was far from a lifestyle business as we were working ‘time for money‘ and if we didn’t work we didn’t get paid.  That was definitely NOT a lifestyle business!

Mustafa was a restaurant business owner and his definitely wasn’t a lifestyle business.  If he wasn’t there working in the business then there would be no business.  It couldn’t run without him.

If you are self employed business owner or an employee then you definitely understand what that means we are quite sure.

Lifestyle Business Explained

Let’s explain a lifestyle business and how you can transition from the E or S quadrant to the B quandrant.

B stands for BUSINESS and better still B stands for a business you work ‘ON‘ and not ‘IN

Where you have a business working for you 24/7 365 wherever you are (even on the beach … although definitely not with a computer)

It’s why the idea of having an online business is appealing to so many people and if you are reading this because you are one of those people then congratulations on your decision to become an entrepreneur and move the the ‘B‘ quandrant.

No doubt you are saying to yourself “this all sounds great but how do I start a lifestyle business?

That’s exactly the question we had to ask when we gave up our accountancy and management consultancy business almost 5 years ago now.  We saw all these pictures of what was referred to as the ‘laptop lifestyle‘ – pictures of people with laptops in exotic locations and to be honest that really appealed to us so we began to investigate how we could do that. We wanted the freedom to travel and have a business that worked from anywhere in the world and didn’t rely on us 24/7

10990843_904455516243452_7558939299351846937_nDo we do that?  Absolutely we do.  We just got back from Curacao in the Caribbean where we were speaking at a Mastermind and our business was operating round the clock while we were there training and learning.  The last 24 months we’ve traveled extensively in the United States and spent time in our ski chalet in the French Alps and our retreat in the Costa Del Sol Spain.

Can you do that too?  We believe so if you are prepared to learn new skills and set up your foundations.  Travel may not be ‘your thing‘ so make sure that you are clear on what is ‘your thing‘ so that you do what it takes no matter what.

If you have ever read The 4 Hour Work Week by Tim Ferris then you should certainly get your hands on a copy because he has the lifestyle business model perfected through automation and outsourcing so that he literally can work just 4 hours a week.

If you are prepared to put in the effort to transition from the E or S quadrant to the B quadrant then you too can join those already experiencing a lifestyle business.

We’ve a video you can watch that explains how to do this and how you too can become one of the business owners who control 85% of the world’s wealth …

We look forward to seeing you there :-)

Who Are We

We’re former accountants of a certain age with 5 great kids and 3 grandchildren. We love skiing and traveling the world and have achieved a fabulous life helping others to start and build a successful 6 figure business online and now speak on international stages following our passion.  Our business is centered on online marketing education and wealth creation and a desire to help you create financial freedom online.

Authors : The Mindset Shift

ode to excellenceSkype : chrisbeesley1   susanbeesley1

Mobile/Cell: +44 (0)7802857551

Email : info@chrisandsusanbeesley.com

Connect on Facebook

 blue-arrowsIf you enjoyed this post and video  “What is a Lifestyle Business” please Comment, Like  and Share with Others :-)

 

Posted in Business Success, Make Money Online, Wealth Creation & Prosperity | Tagged , , , , , , , |

Know Your Perfect Customer

Know Your Perfect Customer

Know Your Perfect CustomerNot every person is the right person for your business and having a formula to know your perfect customer is going to be of huge value to you and your business.

With rising costs of marketing it is important to get the very best ROI (Return on Investment) for your adverting dollars.

A perfect example was some ‘lumpy mail” we received the other day at home from Virgin Media  …

 

In fact Susan decided to record a video about it to explain (it was a  bit of fun but we think it really makes the point)

Know Your Perfect Customer Video

It’s very important to know this formula of how to know your perfect customer so that you actually reach those customers who want your products and services versus spending money and time marketing to those people who are not interested nor will ever be interested!

There is formula to this and once you understand this then you will be on your way to getting the best ROI on your advertising and more importantly reach your ideal customer.

In the “know your perfect customer formula” these are the questions you need to ask:-

#1  Who do you want to reach?

ernst-thalmann-161910_640In the know your perfect customer formula the first thing on your list must be a picture of a person. An avatar of the ideal customer for your offer. Are they …

  • A man or woman, or does it matter?
  • In a certain age group?
  • Retired or still working at a job?
  • Do they have a specific income level?
  • A college student?
  • Living in a specific country or state?

The more you can know about who you perfect customer is, what they look like, think like and

what pains and problems they have, the faster you can find them.

The quicker you get to this the quicker you can start to serve them!

# 2 What are their problems?

One KEY POINT is no one can serve everyone. You will go broke trying to be everything to everyone.  It’s just not possible.

We have chosen as an example to demonstrate this point of our “know your perfect customer formula”  an online entrepreneur or home business entrepreneur customer as an example.

Here are some common questions asked by people interested in starting an online business.

  • I want to make money but don’t know how.
  • I have bought products that don’t work for me and am discouraged.
  • I earned a few commissions but can’t repeat my successes.
  • I’ve made some money and now want to own my own product
  • I’m ready to reach new audiences with a podcast / video show
  • I know video is important but don’t know how to do it.
  • I’ve never done anything on the internet before
  • I’m not good with technology

The point is that there are huge numbers of people who are asking these questions right now. If you can reach them, and offer them a viable solution to their specific problem then the chances are they will become your customers at some point either immediately or in the future

It’s important to think about where your potential customer is right now and one way to do that is to think about the products that you are promoting in your business

In our own particular example, we promote a wide range of online marketing coaching and training and personal development products but they are suited to different people.  Because we work to the know your perfect customer formula we can reach out to different customers ranging from beginners through to more advanced customers and in different age groups and professions.

#3  Where are they hanging out ?

This is going to be something you want to write down and we’re going to get you to think very differently that you are doing right now. There are three key areas ….

Think like they think.

What are their frustrations and pain points?

google-485613_640Search like they search.

What would someone trying to find your product put in the search box at Google? Are you writing articles, blog posts, creating videos and audios and optimising your site for those terms?

Ask like they ask.

Your customers are asking everywhere how to get their problem solved. Do you know what they are asking?  You need to go to the places where they hang out to discover the answer to that.

Generally speaking they tend to be on social media, groups and forums.  They are asking questions and you need to be there ready to answer those questions and become the person of authority and who they can trust.  Facebook is a very good place to start but there are hundreds of niche specific forums so just look for them using Google (search for online forums for example delivered 615,000,000 results in .34 seconds)

#4 Collecting Their Information

news-226932_640Whatever you do in your marketing activities the key component is to capture the customer’s information so that you can continue to market to them after the initial contact..

They’ve told you they have the problem and you have the solution.

This is known as your subscriber list or email list and the greatest asset in your business!

It’s important therefore to make sure that you have created a way for people to give you their email at any time they are searching – that means websites with a means for people to leave their information and advertising materials (banners, links etc) in places they are searching.  They join lists to get their problems solved and email marketing is the #1 method of marketing online for one very good reason

If you have paid attention to answering the questions about what your perfect customer is searching for then you can create advertisements (marketing) that is perfectly designed for them

#5 How Can You Help Them?

First of all we want to dispel the myth that you have to be some kind of guru or expert to help people as it is totally untrue.

  • Provide information
  • Answer specific questions
  • Provide personal help
  • Help people save time
  • Help people save money
  • Help people avoid losing or wasting money
  • Clear up confusion and help them take the next step

No matter where you are now just remember that there are people who are where you were last week, last month or last year.

They need to know what you have learned along the way – they are your perfect customer!

All well and good you say but if you are fairly new to all this then you are going to be saying “why should they listen to me?

It’s a good question and it’s a valid question

You have knowledge and wisdom or you know where to find it and that makes you an expert. It doesn’t make you a guru but it does make you someone who has answers to questions and that makes you an EXPERT

Success in your business is very much about matching. Matching what you offer to what people need and your passion with the wants, desires and needs of your customers.

Success is not about being everything to everyone. It’s about providing the best of your products and services to your perfect customer.

Now you have in your hands the “Know Your Perfect Customer Formula”.  Use it wisely and watch your business grow :-)

Who Are We

We’re former accountants of a certain age with 5 great kids and 3 grandchildren. We love skiing and traveling the world and have achieved a fabulous life helping others to start and build a successful 6 figure business online and now speak on international stages following our passion.  Our business is centered on online marketing education and wealth creation and a desire to help you create financial freedom online.

Authors : The Mindset Shift

ode to excellenceSkype : chrisbeesley1   susanbeesley1

Mobile/Cell: +44 (0)7802857551

Email : info@chrisandsusanbeesley.com

Connect on Facebook

 blue-arrowsIf you enjoyed this post and video  “Know Your Perfect Customer” please Comment, Like  and Share with Others :-)

Posted in Internet Marketing, Online Marketing Education | Tagged , , , , , |