Here is the link to the activity sheet that goes with the presentation: https://goo.gl/pd4Gue
How to start an online business from serial entrepreneur Colin Mansell.
Learn more about RED Academy and see our courses at:
www.redacademy.com
2. Agenda
• Your Idea
• Multipliers & The Five Forces
• Start with Why
• The Horizon: 5 Years
• The Countdown
• Focus on the Now
• Questions
• All in 60 minutes…!
3. But first…
• Buddy up!
• Find out three interesting things about your
buddy
7. Multiplier: Idea x Execution
• AWFUL IDEA = -1
• WEAK IDEA = 1
• SO-SO IDEA = 5
• GOOD IDEA = 10
• GREAT IDEA = 15
• BRILLIANT IDEA = 20
8. Multiplier: Idea x Execution
• NO EXECUTION = $1
• WEAK EXECUTION = $1000
• SO-SO EXECUTION = $10,000
• GOOD EXECUTION = $100,000
• GREAT EXECUTION = $1,000,000
• BRILLIANT EXECUTION = $10,000,000
9. Multiplier: Idea x Execution
The most brilliant idea, with no execution, is
worth $20.
The most brilliant idea takes great execution
to be worth $20,000,000.
- Derek Sivers
11. The Five Forces
Visibility Conversion Referral$ Value Repetition
How many
customers
do they
refer to
you?
How many
people
know about
you?
What
percentage
can you
turn into
paying
customers
How much
do they
spend with
you per
transaction
?
How often
do they
come
back?
12. The Five Forces
$50
$207.36
1,200 1% $ 12 1.2 (1 in 5) 1.2 (1 in 5)
1,200 12 $ 144 $172.80
1 (none)1,000 0.5% $ 10 1 (never)
1,000 5 $ 50 $50
Visibility Conversion Referral$ Value Repetition
13. The Five Forces: online
• Complete your top 3 activities for:
• Visibility
• Conversion
• $ Value per transaction
• Repetition
• Referral
14. The Five Forces: online
User
Experience
Up Selling
CRM / Loyalty
Programs
Social Media Strategy
IA &
Storytelling
Customer
Service
SEO
Paid Online
Advertising
Offline
Marketing
Email
Marketing
Cross Selling
Partnerships
Traffic Conversion $ Value Return Rate Referral Rate
Creating an
excellent
product or
service
Visibility Conversion Referral$ Value Repetition
16. Start with Why
- Start with Why. What do you want?
- Three minutes
- Three examples
17. Start with Why. What do you want?
- Happiness, contentment
- Control over my own time, work for myself
- Work with great people, help them grow
and succeed
- Do something meaningful
- Travel, see the world
- Make enough money
18. Values
- Values: What is important to you?
- Three minutes, share with the person next
to you
- Three examples
24. The Horizon: 5 Years
- Where are you in 5 years?
- Describe the business
- Three minutes
- Three examples
25. The Horizon: 5 Years
- What are the key drivers?
- Three minutes
- Three examples
26. Where are you in 5 years?
- International network of 15 schools
- Team of 150 amazing instructors
- Students will be:
- Learning tech skills, 100% placement (really!)
- Working in social development projects
- Learning new fun skills and seeing the world
- Our grads are running companies and are
coming back to hire from our programs
27. The Key Business Drivers
- Locations Amazing Schools
- Hiring Great Instructors
- Marketing FT & PT Students
- Grad Placement Employed Grads
- Revenue Enough Money
- Everyone got 5?
29. Where are you in 5 years?
- Locations 15
- Hiring 150 FT / 300 PT
- Marketing 2,000 FT
7,500 PT
- Grad Placement 100%
- Revenue: $15m Annual
30. Where are you in 2 years?
- Locations 5
- Hiring 50 FT / 100 PT
- Marketing 600 FT
2,500 PT
- Grad Placement 100%
- Revenue: $5m Annual
31. Where are you in 1 year?
- Locations 2
- Hiring 20 FT / 40 PT
- Marketing 250 FT
1,000 PT
- Grad Placement 100%
- Revenue: $2m
32. Where are you in 3 months?
- Locations 1 Amazing School
- Hiring 6 FT / 12 PT
- Marketing 45 FT
150 PT
- Grad Placement Placement Program
- Revenue: $100k monthly
33. Overview
Locations Instr. FT PT Grad pl. Revenue
5 years 15 150 / 300 2,000 7,500 100% $15m
2 years 5 50 / 100 600 2,500 100% $5m
1 year 2 20 /40 250 1,000 100% $2m
3 months 1 8 / 12 45 150 in place $100k / m
