Checklist to Build Your Entrepreneurial Business Model

You need a plan in order to make your business idea a reality. Your coaching business blueprint will guide your business from the beginning to ensure your success. 

First Steps of Business Model

Name your business – using your real name or a name that identifies your services.
Choose a name that can grow with you and define your focus accordingly as to local, international, or international attention. 

How expansive do you envision this?
Can your business name withstand international scrutiny?
Finding a corresponding URL name, even a misspelled one, is a necessary presence today.
Also, buy your name as a domain name.

Tiers of Business Formats

Hang out your shingle and take personal checks as a solo entrepreneur

Legally set up a sole proprietorship as doing business in your state in your business name, The advantages of this business model are the setup 
•Is more professional
•Allows payments are made to business name
•Could be eligible for PayPal business account.
•The accounting separates the personal expenses from the business expenses.

Incorporation Levels

  1. Limited Liability Corporation (LLC) – the benefit is that you receive the liability protection of a corporation, but the tax benefits of a sole proprietorship. Cost could be between $500 to $1000 for setup and paperwork fees.
  2. Limited Liability Partnership (LLP) – Two or more coaches working together. Each partner is responsible for mistakes, and tax liability doesn’t cross over to partner.
  3. If unsure, start as a sole proprietorship and carefully investigate the pros and cons.
 

Course: Sales Funnels for Coaches 2

Several applications or tools help you build your sales funnel. Are you ready? Here are some of the most popular options when it comes to putting together both free and paid funnels.

Top Tools for Building Sales Funnels

Lead Pages—when it comes to building opt-in pages, LeadPages.net is one of the most powerful tools you have at your disposal. They’ve tracked and tested a variety of page styles to determine which ones convert best, and they make it easy for you to build similar pages for your funnel. It does come with a monthly fee, though, so before investing, you’ll want to be sure you can recoup your investment.

 Instabuilder--Similar to LeadPages, but without the monthly investment. Instabuilder is a plugin for WordPress that allows you to create your funnels. It includes several pipeline templates and a drag-and-drop page builder for the look you want and making it easy.

AWeber—Probably the most friendly email manager on the market today, AWeber is the choice for many small business owners, not only because it's simple to use, but because it's also economical. Starting at less than $20 per month for up to 500 subscribers, AWeber offers both autoresponders and broadcast emails, list automation, and segmenting emails, so you can send emails exactly when—and to whom—you want.

 AW Pro Tools—an add-on to AWeber, AW Pro Tools gives you added control over your list management by automatically removing unsubscribes, moving subscribers from one list to another based on the link they click, and other useful automation tools.

 PayPal—The simplest of all payment processors, PayPal allows you to take payments online for a very reasonable fee. It will also act as a simple shopping cart.

 Ontraport--Another email manager, Ontraport offers shopping cart functionality as well, so you can create powerful, fully-integrated funnels for your sales process. The benefit here is that you have a complete email system to sync with your shopping cart.

 Infusionsoft—Probably the top tool for any business model, Infusionsoft is an all-in-one solution for customer management, funnel setup, mailing list, and even membership sites. It's high-priced, but if you can (and will) use all its power, then Infusionsoft is well worth the investment.

You  have options when it comes to building out your sales funnels, but what are the must-have items? At the most basic level, you must have:

  1. A way to create web pages. A simple WordPress website will fill this need, with a little bit of work. LeadPages or Instabuilder are nice to have, but not essential, especially if you’re just getting started.

2. A shopping cart. PayPal is as easy as it gets when it comes to shopping carts, but other options include 1- Shopping Cart, Woo Commerce, and aMember.

I recommend you start small. Build the funnel framework using tools that don't cost a fortune. Once you have a few funnels up and running, you will be able to see where they can use improvement, and how the tools available to you can help make your funnels convert better and work more efficiently.

 

 

 

5 Technology Steps for Coach’s Online Biz

Managing the technology of a successful online biz for marketing, social media, and digital products confounds coaches. You might want to know:

  • How an autoresponder connects to your website.
  • Where do you send buyers to a "thank-you-purchase page.?"
  • Which credit card processor should you use?
  • Is Paypal enough? Do you need Stripe?

[tweetshareinline tweet="Every business owner asks these questions because the online biz model is specific and follows a structure." username="parent_Coach"]

Your website is your home base online, where you'll blog, post videos, maybe host a podcast, and create your sales and landing pages. People who read your blog could be potential clients who found answers to their issues.

It is not complicated, although it appears so. Here is what you need:

1. WordPress for a website or an online store. A virtual assistant could get your site established. You could start running a business in a day.

2. Email Manager is the next step to start building your mailing list. You'll need an autoresponder that serves the function exactly as named--an autoresponder service such as
ConvertKit
AWeber
MailChimp

3. To use your autoresponder, you'll create a series of follow-up emails that automatically get sent. You set the schedule for sending them out.

The autoresponders refer to and are part of your product funnel. Autoresponders are designed to promote your services like group coaching or your product like an Ebook or a checklist.

4. For the free downloaded ebook or list, you create an Opt-in Offer. Then place a form on your website to collect email addresses of everyone who wants your service or product.
Shopping Cart or Payment Processor

5. How will a customer pay you for your product or coaching services? The most convenient, and simple way to sell a product is through Paypal and your website. You will need a PayPal account set up in the business name or your name. Another payment option is Stripe.

Explore the Paypal payment plugins for your online biz web site. The way to set up PayPal payments on a website page is to...

  • Create a PayPal button that generates a code.
  • Then paste the code into a sales page. Paypal will notify you when a sale occurs, and you should be prepared to follow up each sale with a series of email autoresponders. Again this is automated through your Email program or your shopping cart solution.

I highly recommend an automated system because it is a massive time saver. Consider purchasing a shopping cart. These can be self-hosted or as a monthly service.

  • The shopping cart will
  • Take care of delivering the product.
  • Adding the purchaser to the appropriate mailing list, And send follow up emails.

You can even choose a cart that tracks affiliate sales if you'd like to entice others to promote your online biz products and services.