How to Know Whether Your Product or Service Idea Can Become a Successful and Viable Business

Show Notes

Is your business stuck? Are you just getting your business off the ground? During today’s Thrive Time Business Coach Radio Show, Clay Clark (the former U.S. SBA Entrepreneur of the Year and member of the Forbes Coaches Council) breaks down audio from the most recent in person Thrive Time Business Coach 2-Day Workshop. During the broadcast they discuss: How to know whether your product or service idea can become a successful and viable business, how    convinced Clay to invest in the Elephant In The Room, the moment that Clay quit his jobs and decided to work for himself full-time and much, much, more…

Hour 1 Segment 1 – How to Know Whether Your Product or Service Idea Can Become a Successful and Viable Business

During this segment, Clay Clark (the former U.S. Small Business Administration of the Year) and business coach, Marshall Morris break down how to know whether your business idea has the potential to become a successful and viable business. During this session they also discuss:

1. Time Management
2. Meta Time
3. How to Sustainably Focus

Hour 1 – Segment 2 – How to Determine the Sustainable Acquisition Costs

1. Setting Aside 5% of Your Gross Revenue for Advertising
2. Consistency Is Important

Hour 1 – Segment 3 – Designing the Life You Want (And Dying In Oklahoma)
1. How to Design a Life That You Love
2. How to Build a Business Designed to Serve You

Hour 1 – Segment – 4 – How Convinced Clay Clark to Invest in the Elephant In The Room Men’s Grooming Business

Hour 2 – Segment 1 – CPA Paul Hood Answers Questions from Workshop Attendees
Action Item #1 – Determine Break-Even Point
Action Item #2 – Determine Your Profit Per Customer
Action Item #3 – Determine the # of Deals Needed Per Week to Achieve Your Goals
Action Item #4 – Determine the Weekly Scheduled Meeting to Look at the Books
Action Item #5 – Know Your Tax Liability

Hour 2 – Segment 2 – College Will Not Provide You with the Practical Education You Need
1. Clay’s Personal Experience with College
2. The World’s Best Business Book is Free to Download

Hour 2 – Segment 3 – Knowing the Jumping Point (When You Can Afford to Make Your Side Business Your Full-Time Gig)
1. Working at Target, Working at Applebee’s, Working at DirecTV
2. The Grind It Took to Become Self-Employed

Hour 2 – Segment 4 – The Time Will Never Be Just Right…You Must Act Now
1. The Danielle Sprik Business Coach Experience
2. From Startup to Over $20 Million Dollars In Sales