In Africa your business should be profitable in 45 days or Die. Rules for first time entrepreneurs who don't have money or someone in their family who could guide them

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3. TODAY LESSON
«THE 45 DAYS RULE»
1. Our progress so far & the end lesson
2. Definition of the 45 days rule & Why
3. The 5 steps to Epiphany
4. Q&A
5. Your Homework presentation
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4. 1. Our progress so far
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5. OUR WEEK STUDY PLAN
- DAY 1: Where to Start Your business in Africa: Overview of
the hottest countries and cities to start business
- DAY 2: Where is the money? How to find and select your
business idea?
- DAY 3: 100 ideas to Start a Profitable Business in Africa
- DAY 4: The Startup Box: Tools and methodologies to get
started
- DAY 5: Business model creation workshop
- DAY 6: The 45 days Rule: In Africa your business should be
profitable in less than 45 days or Die
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6. 2. Definition of the 45
days rule & Why
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7. Your Business Should
be Profitable in 45 days
or Die
This is a rule for first time entrepreneurs,
who don’t have money (not a lot), and don’t
have people in their family to guide them.
Short Cycle profitable business model
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9. 2. 5 steps
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10. Step 1: Target Dreamers
with a Deadline
A story said: “During the gold rush toward the West in the
United States, entrepreneurs who were selling shovels,
Jeans, and wheelbarrow carriers to the gold seekers made
more money than the gold seekers themselves, and still
are in business today”
* Your goal here is to discover what are the desires or
priorities of people who already have money or lot of money,
then proceed to find out what kind of products and services
would better serve their desires.
* You don’t want to be the celebrity in town, but you want to help
people who dream to become a “Celebrity”.
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11. Step 1: Action Plan
1. Make a list of people and companies which are already
successful or growing very fast, and have money to spend on
anything they want
2. Put in front of each entry, the kind of human desire that is
their current priority (to expand to new markets, to be elected,
to be famous, to be recognized, to be distinguished, etc.)
3. Then, enter in the next 2 columns how old is the desire, and
how hard was it to realize it.
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12. Step 2: Build a List
This is the core activity of any
business.
There is no business without a
prospects list or past clients
database.
So this is the first thing to do..
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13. Step 2: Action Plan
1. Make a list of 100 people or companies with the same
“desire”. At this stage your list will be based on your
assumptions.
2. You should have their name, address, email, telephone and
a quick description of what is their business, what are their
current expansion plans, or what are possibly their current
challenges or threats to their industry or business
3. Make sure everyone on that list share the same desire, and
now, try to quantity how many in total are these people in
your city, country or in the world. (just to give yourself an idea
of how big is your market).
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14. Step 3: Ask What
problems they need help
solving
At this step, your job is not selling any idea or product, but
finding out the problems these people have now, what are
their current desire (or priority), how old is the desire, and
how hard was it to realize.
So focus on solving a customer’s “pain points” with must-
have-yesterday solutions. Customers will rarely pay for fancy,
nice-to-have solutions.”
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15. Step 3: Action Plan
You don’t have a product or solution yet. So the job here is to
conduct interview to find out what problems these companies
or people are ready to pay for.
1. Take the list you’ve made on step 2
2. Pick 3 to 5 to meet with for Interview
3. Ask bluntly «We are a group of ... competent and ready to
work. What problems do you have, we could help you solve?»
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16. Step 4: Find out
solutions
“As you have no money, you don’t want to create a
solution for these problem by yourself. You should
act here as a trader or a commissioned sales person.
Remember what we’ve said above: “Great
entrepreneurs start their business venture with
phrases like “I want to bring this innovation to
market”, or “I’m looking for innovation that could
solve this pain/problem”.
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17. Step 4: Action Plan
1. Make a list of solution that would solve your target
list problems
2. Create customized proposals for your prospects
3. Review them carefully and send them out or go to
present them to them
4. Be Polite, flexible, and honest to build trust and
connections
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18. Step 5: Put a system
into please to measure
Here you need to put a business system into place to
measures your performances:
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19. Step 5: Action Plan
1. Create a model for your presentation to clients or proposals
2. Install an invoicing app to be able to create quickly invoice
and follow up
3. Track when you call your clients and make sure you have a
place to write down what they tell you as important to them
4. Track how long it takes you to close a new customer
5. Track how much revenue do you make per customer
6. Track what are your fixed expenses
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20. Summary
You goal should be: My business should be Profitable in 45 days
or less.
Think of everything as a “Test” When you start thinking of your
business as a test, in your mind things no longer have to be
perfect because, after all, it’s just a test.
Most people never move on their ideas because they are waiting
for the conditions to be perfect before they launch. Get your
stuff out there and then improve it while it is making you money.
A less then perfect site that has been launched will be
significantly more profitable than a perfect site that is waiting to
be launched.
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21. Reference:
- «The God Approach»
- «The 45 days rule»
- Go to: SiliconAfrica.com
- Search: «45 days»
- Check the results
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22. Q&A
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23. 3. Example of Business
Plan
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24. - Speed is everything. Think fast, Act fast, Be
everywhere through friends, family and informants
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25. Break
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26. 3. Your Homework
Presentation
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27. Homework
- Chose the name for a fictional company
- Write a sales letter to your first customer
- Write a press release about your company
opening or product launch
- Write your post description and the post
description for your team members
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28. Contact me
1. Email: mk@linkcrafter.com
2. Skype: linkcrafter.com
3. Facebook: Mawuna R. KOUTONIN
4. Everytime you see me bored
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