Join me on today’s Black Entrepreneur Blueprint episode # 353 as I discuss how I paid $24.99 literally for two pieces of paper and why it was worth it. We’re going to do a case study review of this concept and how you can replicate it in your own business. Visit www.BEBConnect.com
BLACK ENTREPRENEUR BLUEPRINT # 353 – SHOW NOTES
In today’s show, I want to talk about how I bought 2 pieces of paper for $24.99 and how you can create the same scenario to build passive income.
Let me explain exactly what I’m talking about and then I’m going to give you some insight into using this concept for your own business.
- IDENTIFY: Problem – Solution – Result (scenario)
- UNDERSTAND: You’re either selling transformation, saving people time, or saving people money, or a combination of the 3
- RECOGNIZE: The Price vs Value seesaw (price is what you pay, value is what you get – they must be aligned)
- CREATE: relevant content for your prospects.
- GIVE AWAY: the “what” and the “why” and sell the “how.” This is WHAT it is, this is WHY you need it, and this is HOW you do it (or you do it for them)
- MEET: the prospective customer where they are, not where you think they are in the buying process. Have content for each stage of the buying process.
- Stage1: Problem Recognition. (identify their problem with an ad or a piece of content (article))
- Stage 2: Information Gathering. (provide quality content/information – video, podcast, white paper, webinar, etc)
- Stage 3: Evaluating Solutions. (give them a realistic solution – your product or service)
- Stage 4: Purchase Phase. (make them feel confident with their purchase “congratulations”, not thank you)
- Stage 5: The Post-Purchase Phase. (continue to market to them and add value with content)
Building my spice brand along with my hot sauce brand and I’m doing research on creating my own small manufacturing operation or using copackers.
A food entrepreneur created over 800 free YouTube videos for food entrepreneurs (owned content) and I’ve been watching them for a few weeks and he has a video about co-packers (20 questions you need to ask prospective copackers and a list of reputable co-packers for certain food items – for $24.99)
- Identified my problem: not sure how to proceed with my spice business.
- He understood that he was saving me time and probably money by providing a list of vetted co-packers.
- I recognized the price of the product vs the value (the value outweighed the price)
- He created relevant content for me with his YouTube videos.
- He gave away the what and the why and sold the how.
- He met me at every stage of the buying process.