Just click the tab for the corresponding day of where you are in the challenge...
Day One: Learn how to ease the transition into your design career from your "day job"
"There has always been the constant argument over whether entrepreneurs are born or made. The most important quality every entrepreneur must possess is the ability to spot opportunities and viable ideas. These ideas may sprout from their own mind or from someone else’s, but the most important thing is that an entrepreneur needs to able to recognize useful ideas, distinguish them from insignificant ones, and figure out a feasible path to turn that idea from a dream into a commercial success. This ability can be instilled by training and constant practice; therefore, one doesn’t need to be born an entrepreneur to offer solutions that can help change the world. You just need to be able to think outside the box and see opportunities where other people can’t.
The first single, most important thing that makes a successful entrepreneur is vision. Having a vision means you have a clear picture of the kind of difference you want to make in the world.
… in order to become a successful entrepreneur, you need first and foremost, to break out of that vicious cycle that keeps your perpetually trapped and rends it almost impossible for you to pursue your dreams.
... you need to be informed. The basis of entrepreneurship is providing goods and services to help fill a void; to solve a problem faced by someone in the world. For your vision to be viable and practicable, it needs to align with reality. Therefore, before you start seeking your passion, it is important for you to understand how important your passion can help contribute to the society at large. Being an avid reader, watching useful, unbiased media releases and traveling the world can help you discover problems that you never knew existed." - Mitch Durfee and Chris Kelly, The Millionaire Business Mindset
Day Two: Get confidence in sharing your creative gift and charging for it
“If you aren’t profitable, the natural assumption is that you haven’t grown fast enough. I have news for you, people. You’re completely fine. You don’t need to change. The old formula to profit is what’s wrong. It needs to change.
You know the formula I’m talking about: Sales- Expenses=Profit. … sell as much as you can, then pay the bills, and what is left over is profit. Here’s the problem; there are never any leftovers. The old profit formula creates monsters of businesses. Cash-eating monsters. But we stay loyal to the formula, and things get worse.
The solution is profoundly simple. Take your profit first.
… Dr. Frankenstein brought to life something that, without his extraordinary idea and exhaustive hard work, could not exist.
That’s what I did. That’s what you did. We brought something to life that didn’t exist before we dreamed it up; we created a business out of thin air. Impressive! Miraculous! Beautiful! Or at least it was until we realized our creation was actually a monster.
Stitching together a business with nothing but a great idea, your unique talents, and whatever few resources you have at hand is most certainly a miracle. And it feels like one, too, until the day you realize your business has become a giant, scary, soul-sucking, cash-eating monster.
The monster wreaks destruction at every turn; empty bank accounts, credit card debt, loans and an ever-increasing list of must pay expenses. He eats up your time, too. You wake up before sunrise to work, and you’re still at long after the sun goes down. …Your relentless work doesn’t free you; it further drains you.
.. learn the difference between making money (income) and taking money (profit). There are two very, very different things.
Money is the foundation. Without enough money, we cannot take our message, our products, or our services to the world. Without enough money, we are slaves to the businesses we launched. Profit must be baked into your business. Every day, every transaction, every moment. Profit is not an event. Profit is a habit.
As you focus on profit, you’ll discover new ways to both streamline and grow your business.
… You must figure out the things that make profit and dump the things that don’t. When you focus on growth, it is inevitably a scramble to grow at all costs. Yes, at all costs (including your quality of life). When you focus on profit first, you inevitably figure out how to make a profit consistently."
- Michael Michalowicz, Profit First
Day Three: How to create content that speaks to your audience by providing solutions to their problems
"…imagine a market universe composed of two sorts of oceans: red oceans and blue oceans. Red oceans represent all the industries in existence today. This is the known market space. Blue oceans denote all the industries not in existence today. This is the unknown market space.
In the red oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known. Here, companies try to outperform their rivals to grab a greater share of existing demand. As the market space gets crowded, prospects for profits and growth are reduced. Products become commodities, and cut throat competition turns the red ocean bloody.
Blue oceans, in contrast, are defined by untapped market space, demand creation, and the opportunity for highly profitable growth.
…in blue oceans, competition is irrelevant because the rules of the game are waiting to be set.
… To focus on the red ocean is therefore to accept the key constraining factors of war- limited terrain and the need to beat an enemy to succeed- and to deny the distinctive strength of the business world: the capacity to create new market space that is uncontested." - W. Chan Kim and Renee Mauborgne, Blue Ocean Strategy
Day Four: How getting the YES from potential clients is tied to your positioning and how much value YOU add to a project
"This book has been written about a new approach to communication called positioning. And most of the examples are from the most difficult of all forms of communication- advertising. A form of communication that, from the point of view of the recipient, is held in low esteem. Advertising, is for the most part, unwanted and unliked. In some cases, advertising is thoroughly detested.
To many intellectuals, advertising is selling your soul to corporate America- a subject not worthy of serious study. Positioning is a concept that has changed the nature of advertising, a concept so simple, people have difficulty understanding how powerful it is.
Positioning starts with a product. A piece of merchandise, a service, a company, an institution, or even a person. Perhaps yourself.
But positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. That is, you position the product in the mind of the prospect.
... Positioning is the first body of thought that comes to grips with the difficult problem of getting heard in our overcommunicated society.
To be creative, to create something that doesn’t already exist in the mind, is becoming more and more difficult. If not impossible.
The basic approach of positioning is not to create something new and different, but to manipulate what’s already up there in the mind, to retie the connections that already exist.
Today’s marketplace is no longer responsive to the strategies that worked in the past. There are just too many products, too many companies and too much marketing noise.
In the communication jungle out there, the only hope to score big is to be selective, to concentrate on narrow targets, to practice segmentation. In a word “positioning”.
The mind, as a defense against the volume of today’s communications, screens and rejects much of the information offered it. In general, the mind accepts only that which matches prior knowledge or experience.
The best approach to take in our overcommunicated society is the oversimplified message.
In communication, …less is more. You have to sharpen your message to cut in the mind. You have to … simplify the message.
… You look for the solution to your problem inside the prospect’s mind." - Jack Trout and Al Ries, Positioning: The Marketing Classic How to be Seen and Heard in the Overcrowded Marketplace
Day Five: Identify and get moving on at least one passive income stream you can start monetizing immediately
"Is your lifestyle outpacing your money, or is your money outpacing your lifestyle?”
So why passive income? Because passive income helps us escape the employment or self-employment trap, and enter a very special place called financial freedom.
… financial freedom is when you are generating enough passive income to outpace your current expenses. In other words, you’re putting in the least amount of time and effort, but you’re making a substantial amount more money, which is taking care of all your financial needs.
Benefits of financial freedom. Let’s talk about the benefits of being financially free.
Freedom to build wealth.
Freedom to build family.
Freedom to build your community.
Freedom to build your future.
I want to get you familiar with something called the Financial Freedom Mindset. The Financial Freedom Mindset is a way of thinking that is focused on creating massive value using the least amount of time, effort, resource, and money. In other words, you are committed to continually creating large income streams but using the least amount of your time and effort to do it.
This is the mindset of the truly successful and financially free entrepreneurs and investors. Their focus is to work very little, create massive value, and use all of the their extra time to enjoy the income that comes from their efforts." - William Pena, Passive Income in 90 Days
Just sharing a few girl boss quotes I couldn't resist. I believe in the power of a beautiful message and you probably do too. These readings are not required for the challenge.
"Abandon anything about your life and habits that might be holding you back. Learn to create your own opportunities. Know that there is no finish line; fortune favors action. Race balls-out toward the extraordinary life that you’ve always dreamed of, or still haven’t had time to dream up. And prepare to have a hell of a lot of fun along the way." - Sophia Amoruso, #GIRLBOSS
"… you were put on this earth with a unique voice, talent, and gift that nobody else has or will ever possess.
… nobody can replicate your genius.
There are absolutely no limits on what you can achieve. Your possibilities are truly endless, and you have the power to create the life and business of your dreams. You must find the place inside of you where everything is possible.
You’ve got to believe, with all your heart, that you can make it happen for yourself. You must believe you are worthy of your desires and that you have all the tools within you to achieve success. You must release blame, guilt, fear, stress and any other negative emotion that does not serve you." - Cara Alwill Leyba, Girl Code: Unlocking the Secrets to Success, Sanity and Happiness for the Female Entrepreneur
"Give yourself the permission to and means, to be who you are REGARDLESS OF WHAT ANYBODY ELSE THINKS OR BELIEVES IS POSSIBLE. Do not deny yourself the life you want to live because you’re worried you’re not good enough or that you’ll be judged or that it’s too risky, because who does that benefit? No one, that’s who."- Jen Sincero, You are a Badass