Fearless Thinking

🎙️51. From Idea to Impact: The Essential Roadmap for Aspiring Entrepreneurs

Michael D Devous Jr Season 1 Episode 51

In this episode of Fearless Thinking, host Michael Devous shares a comprehensive roadmap for aspiring entrepreneurs to turn their ideas into impactful businesses. He breaks down the entrepreneurial journey into manageable steps, starting with idea validation, building a strong foundation, and achieving go-to-market readiness. Michael emphasizes the importance of prioritizing ruthlessly, seeking feedback, and collaborating with others to overcome the common challenge of information overload. He also highlights the resources and support offered by The Ascend Hub, an online community designed to empower entrepreneurs throughout their journey.

Key Highlights:

  • Idea Validation: The importance of testing your idea through market research, customer feedback, and surveys before investing time and money.
  • Building a Strong Foundation: Developing a solid business plan, securing funding, and establishing a legal structure are crucial for long-term success.
  • Go-to-Market Readiness: Crafting a compelling brand and marketing message is essential for reaching your target audience and making an impact.
  • Launching and Scaling: Michael emphasizes that launching is just the beginning, and the real journey lies in scaling and growing your business.
  • The Ascend Hub: He introduces The Ascend Hub as a valuable resource for entrepreneurs, offering curated content, expert mentorship, and a supportive community.
  • Overcoming Information Overload: Michael discusses the challenges of navigating the vast amount of information available and emphasizes the importance of prioritizing and focusing on what truly matters.

Quotes:

  • "You can get lost trying to find groups, trying to find relevant resources and like-minded and like-valued individuals that share your particular experience on your journey."
  • "The real grunt work of developing the concepts, the ideas, the branding, the marketing, the messaging, delivering on the assets, that's me."
  • "I will say that right now, as I go, as I'm in the process of promoting and reaching out to people, we've got a campaign that's on LinkedIn that I'm reaching out to a lot of CEOs, a lot of executives and entrepreneurs and stuff. And there are some out there that are like, I don't have a clue what you're talking about, don't understand what it is that you're offering and how it can help me."

Key Takeaways:

  • Validate your idea before investing time and money.
  • Build a strong foundation for your business with a solid plan, funding, and legal structure.
  • Develop a clear brand and marketing message to reach your target audience.
  • Launching is just the beginning; the real journey is in scaling and growing your business.
  • The Ascend Hub offers resources and support to help entrepreneurs overcome information overload and achieve launch success.
  • Seek feedback from your target audience and use it to refine your messaging and offerings.

Important Links:
Alex Hormozi's website:
https://www.acquisition.com/
YouTube: https://bit.ly/FearlessThinkingYTChannel
https://theascendhub.com/
https://www.linkedin.com/in/michaeldevousjr/

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Hey Fearless Thinkers.

 

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Welcome back. 

 

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Episode 51! 51.

 

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Gosh, I can't believe we've got 

this many episodes

 

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in the can.

 

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Well it has been a crazy spring since 

launching this episode

 

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April first.

 

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Today's episode From Idea to Impact - 

The Essential Road Map for Aspiring

 

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Entrepreneurs.

 

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Now you know that I'm always trying to 

find ways to

 

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provide entrepreneurs

 

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mentors and aspiring leaders

 

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with ways to

 

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deal with fear. Ways to address their 

mindset

 

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and find ways to

 

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work together,

 

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collaborate

 

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and

 

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help

 

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each other

 

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create more impact, better impact,

 

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better together. 

 

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Me, to the power of we. And

 

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all entrepreneurs.. I think if you've had a 

brilliant idea.

 

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You've got a brilliant idea, and you 

feel overwhelmed

 

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by the thought of turning this idea 

into a reality. 

 

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That's early stages,

 

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(excuse me)

 

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that's early stages

 

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of the entrepreneurial journey, which 

we've all been on. 

 

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And

 

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there's,

 

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It feels like a lot of times, in terms 

of the "overwhelm", that there's not a

 

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lot of places you can go out there to 

find support. 

 

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I mean you can get lost,

 

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trying to find groups,

 

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trying to find relevant resources and

 

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like minded and like valued individuals 

that share your particular experience

 

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on your journey.

 

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And I think sometimes for those of us 

who,

 

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if you're like me, you're very 

ambitious,

 

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but you also tend to just sort of like 

do things alone, because you just don't 

 

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know that there's anybody else that can 

do it the way you want it done. 

 

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And you tend to not lean on people. 

 

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You don't want to lean too heavily on 

other people.

 

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But today we're going to break down 

that entrepreneurial journey into some 

 

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manageable, bite sized pieces and some 

steps

 

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from the initial spark of the idea and 

then to your launch,

 

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sort of an entrepreneurial road map. 

 

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One is the Idea Validation

 

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So before you invest time and money, 

validate your idea. That's

 

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the point.

 

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Talk to potential customers, research 

the market and then gather feedback.

 

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One of the ways you can do that, 

obviously, I guess you could reach out

 

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to people on LinkedIn

 

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to talk about your ideas.

 

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I've noticed that there's these little 

surveys, these Q&A surveys, three question

 

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surveys you can put up on LinkedIn, on 

Facebook and Instagram and all those 

 

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other social media platforms where you 

can ask people a or b questions,

 

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pick one, to or three, and you can help get 

some validating.

 

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If you don't have the resources to pay 

for

 

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a focus group study or anything like 

that,

 

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you can pull the resources that way by 

polling people in your audience, by

 

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going to groups

 

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on Facebook and groups on LinkedIn that 

are focused on that area that you are, 

 

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that your product or your services.

 

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And then you can post some of those 

surveys in there to get some feedback 

 

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from them about whether or not it would 

resonate with them.

 

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That's one of the ways you can get idea 

validation.

 

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Market research, in terms of finding

 

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how your product will land in the 

market. 

 

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What's the competition look like in the 

market? 

 

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What's the area, obviously, I think, 

not obviously but...

 

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Most entrepreneurs, I would think, 

are looking to fill a niche,

 

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a void, or a gap,

 

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where

 

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the market hasn't provided an answer or 

a solution, and you believe that your 

 

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idea is that thing that fills that gap. 

 

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It fills that need.

 

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Second, is to Build a Strong Foundation.

 

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This is where,

 

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not just creating your business plan 

and securing your funding to establish

 

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your legal structure, those are all 

important things as well. 

 

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But

 

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creating a timeline

 

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and a set of milestones along that way, 

a realistic set of steps

 

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that you can attain

 

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along your journey, I think, is crucial 

to helping you mitigate,

 

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getting distracted and getting off 

course.

 

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To navigate whether or not you're 

hitting your targets, to confirm and 

 

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affirm whether or not you're meeting 

those goals on those objectives, and 

 

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breaking them down into bite sized 

pieces of deliverables that you can do 

 

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over time

 

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is a really great way to see whether or 

not it's feasible.

 

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I'm super ambitious, trying to get a 

lot done in a short period of time.

 

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And that's me that's, because when I 

started out doing this

 

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at two years ago, 52, I feel very late 

to the game.

 

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Quite honest,

 

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quite honestly, I feel very late to 

this game, and having finally found 

 

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something that really, really drives my 

passion, and I want to be helpful and I 

 

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want to do as much as I can. 

 

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I feel very driven to do it as quickly 

as I possibly can, and that's one of 

 

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the things that drives me. 

 

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And I have to put everything up on the 

board. 

 

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I've got to get it into a time frame 

and a timeline and look at it and 

 

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figure out the bite size pieces and the 

chunks to see whether or not I can do 

 

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them. 

 

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Because honestly right now, it's just 

me, you know, it's me. 

 

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And I got one other individual who has 

joined me recently

 

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that is

 

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partnering to help me do a lot of this 

stuff. 

 

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I've got one other person that's 

helping with marketing, website development

 

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and

 

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possibly a virtual assistant. 

 

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Now that's just admin work and some 

smaller things and stuff of getting 

 

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things in posts

 

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out there, researching groups,

 

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platforms, YouTube channels, things 

like that. 

 

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But the real gruntwork of developing 

the concepts, the ideas, the branding, 

 

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the marketing, the messaging, 

delivering on the assets,

 

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that's me.

 

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And there's only just so much time in 

the day. 

 

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And when I'm looking at trying to 

figure out how to balance my life and 

 

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how to structure things,

 

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having that foundational groundwork,

 

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that framework built out for me,

 

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helps me understand

 

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whether or not I'm being realistic

 

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with myself.

 

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What can I accomplish in that span of 

time

 

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what's reasonable

 

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for me to be able to do without killing 

myself and getting to a place of 

 

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frustration and burnout.

 

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So make sure you've got that strong 

foundation.

 

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Goto Market Readiness is the third.

 

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This is

 

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where developing your brand and 

crafting your marketing message and 

 

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getting ready for launch is crucial and 

important. 

 

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There's a lot of resources out there 

that you can find that can help you 

 

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develop your brand and your resources.

 

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I have leaned very, very heavily

 

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on

 

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AI

 

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I use

 

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ChatGPT

 

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I use Gemini. I use

 

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Fireflies.

 

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I use

 

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a lot of them.

 

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I take the same ideas and concepts. 

 

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I take the same copy and stuff that 

I've written, I put it in all of them, 

 

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and I ask different questions,

 

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and then, based on those questions and 

the responses that I get back, I piece 

 

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it all together into a framework of 

messaging and copy that resonates with 

 

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me what I believe I would say, how I 

would say it. 

 

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Now I've got these threads inside there 

where I have uploaded

 

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tons of my own personal work, journal, 

writings,

 

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articles,

 

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speeches, things like that, that I've 

put in there to give it a sense of my voice

 

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and my tone and my attitude,

 

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my perspective.

 

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And it seems to really help

 

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over time. 

 

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It gets pretty good at adjusting and 

creating

 

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the verbiage and the copy that you 

need. 

 

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Of course, now I've worked in marketing 

and PR for many years, communications,

 

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marketing, PR,

 

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producing events.

 

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So

 

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red carpets, you name it.

 

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So I've had a lot of experience in 

background in that area. 

 

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So for me it's sort of natural for me 

to be able to come up with the ideas 

 

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and the copy and the messaging.

 

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I will say that right now, as I go, as 

I'm in the process of promoting

 

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and reaching out to people,

 

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we've got a campaign that's on LinkedIn 

that I'm reaching out to a lot of CEOs, 

 

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a lot of executives and entrepreneurs 

and stuff. 

 

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And there are some out there that are 

like, I don't have a clue what you're 

 

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talking about, don't understand what it 

is that you're offering and how it can 

 

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help me.

 

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And I love that very

 

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blunt and very candid

 

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response from, and this is typically 

very high end level entrepreneurs,

 

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you know. 

 

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And they're busy.

 

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They are successful.

 

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They don't need me, you know, at least 

they don't think they do, and they 

 

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don't need what I have to offer.

 

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But it's also clear to me that if it 

isn't, if my messaging isn't clear, if 

 

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it's more clever than clear,

 

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it's not hitting the mark. 

 

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So I go back and I thank them for their 

honesty, I thank them for their candor.

 

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And I go back and try to look at the 

messaging and try to look at the things 

 

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that are being offered to make sure 

that I have made it very clear what we

 

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have to offer and what the messaging is 

when we go to market

 

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that's feedback too. 

 

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Guys that's not just idea validation, 

that's brand validation, that's 

 

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messaging validation.

 

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So you can get a lot of that feedback 

on there.

 

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But you can also start pretty good 

relationships and establish

 

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connections with people by

 

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thanking them for their feedback period.

 

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Full stop.

 

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Number four is Launching and Scaling.

 

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Now,

 

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when it's time to take your business 

into the world,

 

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and you really go to market with it, 

and you're going to launch and now

 

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scale it. 

 

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Right?

 

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It's just the beginning really, if 

you've

 

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done all this work, maybe it's months, 

it's been years, to get it to this

 

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point, but even that man, that's just 

the beginning of getting it out into 

 

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the world. 

 

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And now you've got this iterative 

feedback

 

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loop coming from your customers, coming 

from your clients, coming from your 

 

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team, coming from the market, that can 

help you continue to develop your 

 

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product or services and your offerings, 

to ensure that you continue to grow and 

 

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scale. 

 

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And that's the real journey,

 

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is

 

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figuring out how to scale and grow your 

business.

 

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Alex Hormozi, get his.. get his stuff.

 

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Just get his stuff, listen to his 

podcasts, get his books, get his free.

 

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You can find all the free stuff on 

there. 

 

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He's really, really smart about how to 

do this. 

 

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He's got some really

 

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basic

 

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it's, just straight to the point 

delivery of things you must do if you 

 

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want to scale, if you want to build 

your business, if you want to market 

 

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your message and get your offerings out 

there. 

 

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Hundred Million Dollar Offers, Hundred  

Million Dollar Leads.

 

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And then of course, his podcasts,

 

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and his website, by the way, which he 

offers a ton of free resources.

 

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Hugely successful, really like the way 

that he delivers this information. 

 

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He and his partner Leila Hormozi

 

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have really done a lot of work. 

 

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Now, mind, they're only working with 

big, big businesses, businesses that

 

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make ten million dollars a year or 

more. 

 

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Now, they can do that. 

 

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They can afford to do that.

 

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But what they're offered, and what 

they're teaching us about how to scale 

 

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and grow your business is really 

valuable. 

 

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And I would lean on that as well. 

 

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Now

 

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what I'm trying to do with it is 

building a place for all of us, 

 

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aspiring entrepreneurs, those little 

people down here at the beginning of 

 

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our journeys.

 

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He talks about the

 

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ten million to 100 million reach. 

 

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I'm down here below a $Mil.

 

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I'm like, hey, if you're starting out 

at zero and you're still trying to 

 

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figure things out, and you need a group,

 

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a family

 

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of like minded individuals to 

collaborate with, to gather resources 

 

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to get coaching mindset, coaching, 

professional development, coaching 

 

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workshops, seminars, all that stuff.

 

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That's where I'm at, helping us down 

here,

 

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the smaller fish who are ready to learn 

how to become bigger fish and what it's 

 

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like to swim in those rivers.

 

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And

 

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the Ascend Hub is a place where it 

launches in August, where we're going

 

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to provide opportunities where you 

don't have to navigate your journey 

 

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alone. 

 

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And if we have resources and mentorship 

supported communities

 

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to guide you every step of the way. 

 

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But I, too, we, too, by the way, need 

your iterative

 

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feedback.

 

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I need your candor. 

 

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I need your feedback to tell me, what 

do you need and here, how do you need 

 

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it? 

 

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What kind of things and resources will 

really help you? 

 

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Because where you are right now may not 

be where a lot of other people are 

 

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right. 

 

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And if I don't have that feedback, I 

could create a bunch of resources and 

 

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workshops and stuff. 

 

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But if it's not meeting your needs, then

 

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it's not successful for either one of 

us.

 

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Share with us a little bit about your 

thoughts about where you are on your 

 

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journey. 

 

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Do some hashtags and subscribe. 

 

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Oh, give us a review. 

 

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I'd love to have

 

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a review on there from you. 

 

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It really helps not only the channel,

 

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but also me. 

 

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I want.

 

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I would love to hear from you about 

what it is if I'm offering stuff that 

 

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doesn't make sense, it's not landing 

with you. 

 

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Well, if it's not writ resonating, or 

if it is and you want more and you want 

 

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specific things, please tell me and let 

me know. 

 

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Your entrepreneurial journey

 

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can start any day, at any point in 

time. 

 

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And you don't have to love fear or 

uncertainty hold you back, because 

 

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we're here.

 

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Fearless Thinking

 

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podcast,

 

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the Ascend Hub, coming this fall in 

August.

 

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So, yeah, we're going to help you turn 

your ideas into impactful

 

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ventures. 

 

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So thanks for joining me today for this 

short, little episode of

 

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Fearless Thinking.

 

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51. 

 

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Man, I can't believe we've done it.

 

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All right. 

 

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Ya'll have an incredible week.

 

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Do some fearless thinking while you're 

at it. 

 

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All right? 

 

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Check you later, bye.