Business Finance

The Big Bank Business Building Process

Starting a business is easy, but starting a business effectively is hard. Here we will show you a step by step guide to effectively start your business from the ground up.

“STARTING A BUSINESS IS EASY BUT STARTING A BUSINESS IS HARD”

Maybe I’ve lost you already, or maybe not. But here’s the explanation:

The science behind starting a business is easy.

The art of starting a business is hard.

Thankfully for you, I’ve developed a method to make both of those things nice and easy…

And I’m not talking about cookie cutter businesses models that you can find on Udemy or Teachable to make yourself $3,000 - $4,000 per month…

I’m talking about a method you can use to build a business from ZERO and make it to WHATEVER SCALE you would like…

If you squint hard enough at the picture at the top you’ll catch a glimpse of it.

A small piece of a larger puzzle that I’ve been putting together for some years now…

NOW, I understand if you might already have some excitement about seeing what this method is all about but I highly suggest you take a breath and take a look at my other post on FINANCIAL ENDGAMES OF A BUSINESS

This process was engineered from the front and the back.

That means that in order to fully understand this process I’m about to lay out, you’ll need to understand the idea of leaving your business in detail.

Now that we’ve gotten that out of the way, let’s start talking about the process of building you business…

The first thing you’re going to need is a STRONG plan of action.

Which is not the same thing as a regular business plan

This type of “business plan” will:

  1. Gets you approved for Loans
  2. Explain to Investors how your business works
  3. AND Create a Roadmap for Business Success that Ultimately gets you PAID  

So before we dive in to the specifics of this particular method

Let’s start with a little bit 🤏of history (just a little)

SO I'll cover:  

  1. Traditional Business Plans
  2. The Lean Startup Business Plan

Ready?

A Traditional Business Plan

Goes Something Like this:

  1. Executive summary
  2. Company description
  3. Market analysis
  4. Organization and management
  5. Service or product line
  6. Marketing and sales
  7. Financial projections
  8. Appendix

This is what investors & lenders usually want.

This is what traditional investors and lenders are used to…

Unfortunately I find that there are multiple problems with this type of business plan because it

  • require a lot of work up front
  • is written out of the optimal order (more on this later)
  • may/may not be written by the business owner  
  • AND are usually long, extensive & boring 🙃  

SO what's the alternative?

What the INNOVATORS of Silicon Valley realized is that in order to quickly "fail forward" they needed a newer form of a business model to help them innovate faster and get to a "Profitable" Business SOONER.  

Enter The Lean Start-Up Version Business Plan: The Business Model Canvas  

So What does this usually consist of?

  1. Key partnerships
  2. Key activities
  3. Key resources
  4. Value proposition
  5. Customer relationships
  6. Customer segments
  7. Channels
  8. Cost structure
  9. Revenue Streams

A lean business model means covering only the key aspects of a business that make it a success...but how well does it?

While this canvas is usually good for giving you a high level picture of a business, it also has holes...

It doesn't cover the actual PROCESS of starting a business.

And that's what my issue has always been with all these different types of business models.

One of my business mantras is GREAT PROCESS = Profitable PROGRESS

So when I developed my version of a business plan I kept that in mind

...because if you fail to plan (correctly) then you are planning to fail (building the business of your dreams)

SO here's MY version of how a business plan should go:

STEP 1: Developing A Unique Offer For Your Market  

  1. Market Research
    👇
  2. Market Segmentation
    👇
  3. Segment Selection
    👇
  4. Customer Avatar
    👇
  5. Positioning  

If you've gone through these steps correctly then you should be end up with a Unique Offer.

The goal here is to be able to create a system to attract the clients/customers you want.  

Once you can assess demand for your products/services so you can organize a decent fulfillment system…

One of the ways you can do this is via email marketing:

In short you want to send people a story via email that creates opportunities for people to identify topics that they are interested in by clicking the links that you post in the emails.  

Ex: You post a link about Lattes --> People Click on the link --> You send them a sales pitch for a Latte/Coffee Machine.  

Once people are segmented you can assess demand for products and services that you offer.

And once you can accurately assess demand, you can run a few tests, figure out conversion rates and work with me to create a l plan to scale your operations...which leads me to my next point.

STEP 2: Creating A Plan To Market, Sell, And Scale Your Offer

  1. Map Your Customer's Journey
    👇
  2. Map out Your Sales Funnel (brick and mortars have em too)
    👇
  3. Map out your Customers Journeys + Workflows (This is the skeleton of you business)
    You need to identify your processes & workflows for attracting, converting, & delivering services to clients
  4. For each step in the workflow someone has to
  5. Do the work (Operators
  6. Make decisions (Analyst)
  7. Delegate The work (Manager)
  8. Design the Outcome (Business Designers)
  9. Also you will want to determine
  10. Key Metrics for each step.
  11. Resources needed (software, tools, etc.)

Let me tell you when I first started I was on the pen & paper systems...which are cool...if you're trying to go bald in 30 days or less *sigh*

A good business is a filtrating system for great clients that become satisfied customers.

THIS IS how you build it.

Follow these steps this AND you WILL have a clear idea how to SELL at SCALE

STEP 3: Create A Financial Plan  

All of these workflows require time and money...  

Your financial plan should cover how much money is going to be put into each workflow AND how much revenue each workflow generates.

Again, planning for expenses is a little different than “conventional” method.

Here’s a breakdown

FIRST: Go  back to your list of workflows.

Start by listing out:

  1. What are all the tasks that you’re going to complete.
  2. How much time does each task take the operator to complete?
  3. Consider that some tasks may require one or more operators…
  4. What tools do you need to complete those tasks.
  5. How much does each tool cost?
  6. Is the cost yearly? monthly? weekly? daily? etc…

Here’s an EXTREMELY BASIC example of how you can plan the cost of a workflow.

This is the workflow of writing an email:

Open email —> Type Email —> Send Email

Tools:

  • Laptop
  • Internet
  • G-Suite

Costs:

  • Laptop - $750
  • Internet - $60/month
  • Email - Free

So you’ve mapped out the cost of one of your workflows what's next?

Next thing you’re going to do is:

  1. List all of your workflows.
  2. Assess the cost of each workflow.
  3. List all the costs in one place (try using a spreadsheet)
  4. Remove duplicated costs.

Now you know how much your business costs based on how YOU want to operate it and the revenue that each will produce.

————————————————————

Realize that planning your workflows is imperative to creating an accurate financial plan to scale.

Otherwise you're just hoping to make a ton of money and pay someone to figure it all

out...which means you're waiting to win the entrepreneurial lottery lmao...yea ok lol

IF you want additional help with your business finances make sure you check out the

FREE GUIDE ON STARTUP BUSINESS FINANCES AND PAPERWORK

Now that all of that is said and done i’d like to direct your attention to a diagram. Take a look

.

.

.

Big Bank Business.PNG

THIS IS A MAP OF HOW YOU BUILD A BUSINESS FROM A —> Z

What are some things you notice here?

Some of the steps have boxes above them right? And why don’t other boxes have anything above them? What’s missing here?

WELL :)

Let me tell you that this map only represents a portion of the Big Bank Business Building Method.

The other side of the map represents the things that business owners have to complete in the dark, alone, when no one is watching…

But guess what?

That’s where the true gold is. That the part of the process that puts the most pressure on you.

That’s the part of the process that turns you and your entrepreneurial creations into invaluable gems.

That’s the part of the process that I won’t talk about on my website.

But THAT is the part of the process that you’ll learn about on my email list.

And you’ll receive the entire MAP too!

Do yourself the BIGGEST favor of your life.

Click the button.

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