What Was This Session All About?
The pandemic hit, many businesses took a hard hit themselves. Pete Vargas was no exception. So when he took a significant loss with his company, he decided to adapt and create something new.
Pete created a brand new product in just over an hour, and the product was a significant success. In addition, he and his company made more in the first month from this product than they had the previous year altogether.
It’s not easy, especially since the pandemic isn’t going anywhere just yet. Pete walks us through his process for launching a new idea. This process can apply to creating a new business or launching a new idea for their business, just like Pete did.
Who is Pete Vargas?
- Founder and CEO of Advance Your Reach
- Successful Entrepreneur
What We Learned
Pete lost $5 million when the pandemic hit, including significant speaking engagements, consulting contracts, and the accounts that were already on the books for his in-person workshops. But he got through it, and he shares what he and his company did to survive and reinvent themselves.
When this happens, your business evolves, and you may come up with new ideas to launch. For example, he and his company had a new idea to market, and they launched it. This decision made their business even more successful.
On the Clock
He told his team he wanted to launch a business in an hour in front of students. So he put himself on the clock and began to outline the company in front of them. Pete uploaded the final video in 1 hour, 34 minutes, and 34 seconds.
The Problem You Solve
There are more problems in the world today than there used to be. Entrepreneurs get paid to solve problems. But, unfortunately, many business leaders aren’t getting inside their customers’ heads.
- Identify The Problem: What are your clients losing sleep over? Get clear on this.
- Use Customer Language: Think about their perspective.
- Present the Solution: Solve their problem. What are you the solution to?
The People You Serve
- Find your niche.
- Identify your low-hanging fruit.
- Seek out others with the same problem.
Your Communication Strategy
This aspect is the most incredible tool you have.
They had to get buy-in from all types of consumers. They had to create an experience that made them feel like they were in the room with them. Then, they measured the results.
In-person events aren’t coming back anytime soon. So you need to prepare for long-term digital experiences.
- Heart: Connect with their hearts. They want to know that you know what it’s like to be in their shoes. They also want to see that you’ve gone somewhere they haven’t before. They don’t care what your success has been like until they know what it’s like to lose it.
- Head: 3-5 critical steps with the story; What is the process that moved you from ordinary to extraordinary?
- Hands: Call to action. Whatever it is, make sure they interact.
- Heart: Memory story. Don’t tell yourself what’s not going to happen. Be the person who gets in front of the way the world is and innovates.
Determine Your First Product
The Perfect Product Suite: You’re trying to solve a problem for your customer, and your customers have different amounts that they can invest. So, you have to determine the products you want to place in different price ticket categories. Creating three categories is ideal (low, medium, and high ticket products).
So, you need to get clear on a product.
People don’t gain success from their business because they don’t fall in love with SAM (Sales and Marketing). Put hours into sales and marketing activities. Business owners get caught up in other aspects, and SAM gets jealous.
Right now, Pete has 5-7 predictable ways to sell his product. But, unfortunately, many business leaders don’t even have one.
Date SAM, and eventually marry SAM because it is going to be what drives your market.
- We want to help business owners launch their new business fast. (Problem)
- Customers have the idea, but they don’t get it to market, and they feel frustrated. They’re consumed by “Bright and Shiny Syndrome.” (People)
- The first time he launched his course, he was sitting at Walt Disney World six months into it, and someone asked if he had it done yet. He thought, “How dare he?” But then, he realized he wasn’t done. (Heart)
- What you teach them. (Head)
- We will give them a paid program for free that shows them how to do it “behind the scenes.” (Hands)
- He completed it in 1:34:34. (Heart)
- He outlined his product, Launch Your Business in 7 Days or Less, and offered three different items: High, medium, and low ticket packages.
- He “dated SAM” on digital platforms.
You can view Pete’s product at http://advanceyourreach.com/launch7days.
Don’t panic; go through this process, and remember that entrepreneurs get paid for solving problems.
SAM is the central part businesses miss, so make sure you create a predictable selling system that works.
What Do You Think?
If you watched this presentation or are familiar with Pete’s work, I want to know what you think. So leave a comment or tell a story below.