Starting A Business in 2023 | YAPSnacks | Part 2

Young and Profiting with Hala Taha

YAP Media Network | Hala Taha

Marketing, Entrepreneurship, Business

4.8 • 1.5K Ratings

🗓️ 27 January 2023

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Part 1, we discussed generating passive income to fuel your business, testing your business idea before launching it, identifying a viable market for your product, and why you shouldn’t focus entirely on revenue when you’re first starting out. In Part 2 of this YAPSnacks series, you’ll learn more about picking the right price for your product, a simple marketing framework for businesses of all sizes, the five pillars of scaling your business, and how to establish your company’s core values. Featured in this episode are Alex Hormozi, founder of Acquisition.com and Gym Launch and author of $100M Offers: How to Make Offers So Good People Feel Stupid Saying No; Donald Miller, CEO of StoryBrand and author of Business Made Simple; Allison Maslan, founder of Pinnacle Global Network and the world leader in scaling businesses to nine figures; and Darius Mirshahzadeh, author of The Core Value Equation. In this episode, Hala and various guests will discuss: - Solve problems for a specific audience - Vicious pricing cycles vs. virtuous pricing cycles - People ascribe more value to higher-priced commodities - StoryBrand’s unbeatable marketing framework - These 7 things happen in every story - Incorporating storytelling techniques in marketing - 5 pillars of scaling your business - Batching your time to maximize productivity - Using viral and sticky language for your core values - Picking the right core values for your business - And other topics… Resources Mentioned: Alex Hormozi: The Value Equation, How to Make Offers So Good People Feel Stupid Saying No | E199: https://podcasts.apple.com/us/podcast/alex-hormozi-the-value-equation-how-to-make-offers-so/id1368888880?i=1000588801031 Donald Miller: Storytelling for Business | E120: https://podcasts.apple.com/us/podcast/donald-miller-storytelling-for-business-e120/id1368888880?i=1000527069775 Allison Maslan: Scale Your Business | E170: https://podcasts.apple.com/us/podcast/allison-maslan-scale-your-business-e170/id1368888880?i=1000561549471 Darius Mirshahzadeh: The Core Value Equation | E177: https://podcasts.apple.com/us/podcast/darius-mirshahzadeh-the-core-value-equation-e177/id1368888880?i=1000568710829 LinkedIn Secrets Masterclass, Have Job Security For Life: Go to yapmedia.io/course and use code PODCAST to get 40% off the masterclass! Sponsored By: Shopify - Sign up for a $1 per month trial period at shopify.com/profiting More About Young and Profiting Download Transcripts - youngandprofiting.com Get Sponsorship Deals - youngandprofiting.com/sponsorships Leave a Review - ratethispodcast.com/yap Watch Videos - youtube.com/c/YoungandProfiting Follow Hala Taha LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ TikTok - tiktok.com/@yapwithhala Twitter - twitter.com/yapwithhala Learn more about YAP Media Agency Services - yapmedia.io/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey everyone. You're listening to Yapsnacks, a series of bite-sized content hosted by me,
0:17.2	Hala Taha. This is part two of a two-part series on how to start a business in
0:21.5	23. In part one, we covered transitioning out of a regular job to start a business. We learned
0:27.1	about how to test different side hustles and business ideas, why it's so important to make sure
0:31.5	you have demand for your business idea, and what to think about when picking your market
0:35.4	you want to sell into. Part one is definitely a
0:38.4	precursor to this, so if you haven't yet, I highly recommend you go back and listen to Part 1 first.
0:43.5	And in today's episode, part two of this series, we're going to get an overview of other
0:47.5	core business topics like pricing from Alex from Mozy, marketing from Donald Miller,
0:52.9	growing your business from Allison Maslin,
0:55.1	and lastly, creating mission, vision, and values for your business with Darius Mershazadeh.
0:59.8	So let's jump right into pricing strategies with the amazing entrepreneur and CEO of Acquisition.com,
1:06.5	Alex from Mosey.
1:09.2	So there's really two pricing strategies.
1:13.1	And this is a gross simplification, but like you can be the lowest price leader or you
1:17.7	can be the high value leader.
1:19.2	Like those are really the positions in the marketplace.
1:21.4	Now you can make an argument for a third which would be luxury, but in like business
1:24.0	services that doesn't really exist as much.
1:26.4	And so either your entire strategy is built around being able to provide the same value
1:31.0	as the rest of the marketplace, which is commoditized, and do it for less.
1:34.9	That is a strategy, but there's only one guy who can have that spot.
	...

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