See Daniel Priestley live with Ali Abdaal on 27th March, in London – tickets are here.
I was recently a guest on Steven Bartlett’s podcast, Diary of a CEO. Throughout the interview, we discussed many things that I’ve learnt over the years about business and entrepreneurship.
In this article, I’ve broken down some of the key talking points along with some extra resources to help on your entrepreneurial journey.
Starting a business is about experiments
To test your business idea and see if it will be a profitable venture, launch a waiting list first.
Announce that you’re thinking of launching something in the shop future and you want to gauge whether or not your audience is.
If you invite hundreds of people to the waiting list, but none of them sign up then it might not be the best business idea.
However, if you get lots of interest, then it’s a solid starting point for a business with potential Priestley & Steven customers already waiting for it.
Getting to your first £100K in revenue
When starting a business, consider using the CAOS method to reach your first 100K in sales. You shouldn’t need to spend much money during this process.
Concept – Clear explain what your business does
Audience – Can you build an audience of potential customers
Offer – Craft an offer that your audience will value at a price you are comfortable with
Sales – Start having sales conversations and get people to commit
Entrepreneurial mindset
If you want to achieve anything in business and in life, you must 25+ Unsolicited Email Templates to Increase Your Response Rate understand the part of the brain that’s driving your decisions.
Reptile – The reptile brain is a negative frame of mind that bf leads holds you back. It’s the fight, flight freeze when something new or unexpected happens. A lot of people are in a constant state of “reptile mode” and it generally prevents you from ever being successful.