how_to_structure_a_business

Side Hustle (1 person) §

The idea is to run a campaign that has a start date and an end date. The whole purpose of the campaign is for you to come up with an idea that will make you money.

• Do not create a campaign that takes more than 90 days
• There is no long term commitment
  • The idea is that you get to practice how to make money.
  • If the idea fails, that is ok. You get to start a new campaign and try a different idea.

Co-Founders (1-3 people) §

This is the first team that includes people with complimentary skills. The goal of the scout team is to quickly and cheaply test business ideas.

• The typical team structure consist of two people
  • Sales/Marketing - Can we sale it?
  • Ops/Technical - Can we build it?
• Conduct fast and cheap experiments
  • Strategies to test the idea
    • A waiting list
    • Intro event/Webinar
    • Group
  • Is the idea Good?
    • Throw away the idea - If you cannot even get 30 persons to sign up
    • Minimum - 30 persons
    • Better - 150 persons
    • Very good - 1000+ persons
• At this stage
  • You are not setting up a company
  • You are not setting up a bank account
  • The whole point is to validate your business idea

Fire Team (3-6 People) §

You need a team with a shared vision, mission, and values.

• The typical team structure consist of four people
  • KPI - Key person of influence
    • This person opens doors
  • Sales
  • Ops/Technical - Customer fulfillment (ES score)
  • SAK - Swiss Army Knife
    • This person can do many things (not all great)
    • This person fills in the gaps
• Campaigns
  • LAPS - weekly
  • Experience Score (ES) - On a scale of 1-10, how happy is the customer
    • We want a score above an 8
  • Spot Light Campaign (SL) - Get all of the leads that did not convert and give them something exciting (gift or something to do). The idea is to re-engage them and run them through the LAPS process again.

Section (6-12 people) §

• The typical team structure consist of 8 people
  • KPI - Key person of influence
    • GM
      • Marketing
        • Sales
      • Admin
        • Executive Assistant/Book Keeper
      • Ops/Technical - Customer fulfillment
        • Media/IT
• Marketing/Sales
  • LAPS/ES/SL/Build Brand
• Ops/Technical/Media/IT
  • Create the product ecosystem
    • Free tier
    • Product for prospects
    • Core product
    • Subscription Product
• Admin/EA/BK
  • This is the data team
  • They keep track of things and provide data to the other teams
• GM
  • Is running the business
• KPI - This is the face of the business
  • Job
    • Pitching
    • Publishing (create media)
    • Product (make decisions)
    • Profile (personal brand)
    • Partnerships

LAPS §

The idea to get into a rhythm of doing LAPS. You want to work at least 30 leads before you start to determine what your numbers look like.

• Process
  • Leads
  • Appointments
  • Presentations
  • Sales