To develop a profitable and sustainable business, it is important to get the concepts right by trusting and working with your niche and ideal clients. It is also important to be patient and create evangelists by gradually increasing the value provided to customers, clients, and prospects. Sources of investment and how to effectively market and control growth over time are also critical factors to consider. Key recommendations include focusing on ideal clients' needs and pain points, learning from influencers like Peter Thiel, Gary Vaynerchuk, and Russell Brunson, and using tools like Lean Startup methodology to develop winning solutions and attract co-founders.

1. I have this business idea

3. Me
The enemy
Some practical suggestions

4. Europe, Australia, PNG, Hong Kong
Corporate: Trainee Sales Rep => CEO
7 new products
2 businesses
Mentoring StartUpsPeter Gjersoe
petergjersoe@me.com

5. Who is the enemy?

6. The statistics:
Australia:
2011 -> 2015: ‘285,000’ new businesses’*
Within 36 months: 50% gone*
Within 60 months: 90% gone*
*ABS: Counts of Australian Businesses, including Entries and Exits, Jun 2011 to Jun 2015

7. Official reasons for failures
* Cash flow problems *
Unable to get enough customers
Unable to build the right team

9. “Are we there yet?”
Only 5% are suited to be
Sole traders

10. We live in amazing times
UBER: The world's largest taxi company:
- Has no taxis
Facebook: The worlds most popular media provider:
- Creates no content
Alibaba: The world's most valuable retailer:
- Has no inventory
Airbnb: The world’s largest accommodation provider:
- Owns no hotel rooms

11. Australia
Founders born: 1978
2002: Founded Atlassian
Market cap: $4.37 Billion
Mike Cannon-Brooks
Scott Farquhar

12. Creating a profitable & sustainable business

13. Business case

14. Interviewing successful entrepreneurs:
Accept you will need to do some selling
6 step process
Step 1: Do what you love
Step 2: Pick your niche
Make it “an inch wide, but go a mile deep”
Identify your ideal client
Find your ideal client’s chat rooms on social media

15. #3: Pick a sub-niche and become the expert
Become the go-to person: Deliver answers
Learn about their real pain (pain = $!)
Solve one pain amazingly well => leverage
Create and invite people to watch a 90 sec video
“The 3 biggest mistakes people make when..”
At the end: (1) Checklist and (2) Call to action
#1 Objective: Your list = Your future & fortune

16. Step 4: Create evangelists
Prospect => Customer => Client => Evangelist
Value ladder

18. Step 4: Create evangelists
Prospect => Customer => Client => Evangelist
Value ladder
Free educational video in exchange
First $ exchange <$10: ‘No brainer’ low cost
but High value
Gradual increase cost, and keep High value
(package up)

19. Step 5: Create a GREAT client experience
“Make it easy for your client to say Yes!”
Step 6: Be patient

20. Social media
PPC lead magnet: Your 90 sec video

21. Influencer
Gary Vaynerchuk
www.garyvaynerchuk.com
1999: ‘Shoppers Discount Liquor’
$5Mill => $60Mill
2005: VaynerMedia: 700+ employees
Why? Daily motivation and ‘What's happening’

22. Influencer
Russell Brunson
www.dotcomsecrets.com
Why? Internet How-to guy

23. Influencer
www.futurescope.com
Why? Heads-up on what is happening
Eben Pagan

24. Last 2 suggestions

25. The best solution creation tool I know
Eric Ries
US universities - INTUIT and GE

26. A path to follow
Make it easier to explain your vision and concept
Maximise the probability of developing a
winning solution
Attract co-creators
Attract finance, and
Provide ongoing updates to stakeholders
https://leanstartupmentoring.com/

27. Find an "Accountability partner”
Review weekly
Take it seriously

28. Summary
Life is too short to create stuff nobody wants
Trust and work with your niche and ideal client
Be patient

29. To develop a profitable and sustainable business:
Getting the concepts right - Today
Sources of investment – 12 April
Marketing your business – 7 June
How to control growth – 13 September

30. Thank you
for your time and attention
petergjersoe@me.com

32. * 2008 impact. US now 12th amongst developed nations

33. Influencer
Peter Thiel
PayPal -> eBay 2002:
U$1.5Bill
Zero to One
One to N
What? Book is excellent and interesting opinions

34. Recommendations
Books:
Peter Thiel, Gary V, Russell Bronson
M. Gerber: “The E-Myth revisited”
T. Robbins: “Unlimited Power”
TV Programs:
SBS: “Small Business Secrets”

35. Gary Halbert
You want: “A hungry crowd, with money”

37. Decision making
If it’s not a Hell Yeah!
It’s a no.

38. Sell what
they want
Sell what
they need