The Three Stages of a CEO's Focus

Define your niche and the specific group of people you are trying to serve. Understand their demographics, psychographics, and buying behaviors. Consider using tools like customer surveys or market research reports. Example: If you're selling accounting software, your target market might be small businesses with 10-50 employees.

“Find a market: what is this cluster of people and how do they group together?”

Uncover the pain points and challenges your target market faces. What problems do they wake up thinking about and dreading? Consider conducting user interviews or analyzing online forums. For example, small businesses might struggle with cash flow management or complex tax regulations.

“What is their problem? What do they wake up in the morning singing about and dreading?”

Create a product or service that effectively solves the identified problem. Ensure your solution is the best possible fit for the market's needs. Brainstorm potential solutions and prioritize them based on feasibility and impact. For example, an accounting software solution could automate bookkeeping and provide tax planning features.

“What could be a possible solution to that thing? What is the best possible solution to that thing?”

Continuously gather feedback and refine your product or service to achieve a perfect fit. Never stop striving for improvement, as competitors are always looking to overtake you. Implement a system for collecting and analyzing customer feedback through surveys, reviews, and user testing.

“Ask for feedback and keep iterating until you match perfectly with what the market wants.”

Create a website that educates and converts strangers into customers. Optimize your funnel to guide users through the buying process. Start with a simple landing page that highlights your value proposition and includes a clear call-to-action.

“You want to work on having like a website you want to work on having a funnel that's going to convert strangers into customers and it's going to educate them.”

Utilize various online channels to drive targeted traffic to your funnel. Experiment with Facebook, YouTube, and Google ads, as well as organic social media content and email broadcasts. Start with one or two channels and focus on optimizing your campaigns for the best ROI.

“You need to make sure that you've got traffic coming to this funnel and that traffic you're going to need to buy it what channels well you need to try the different channels it's probably going to be Facebook and YouTube ads and then probably some Google ads and then you're probably going to have some organic social media content as well and then you're also probably going to send some email broadcasts out to people.”

Develop a system where you can predictably pay money to acquire new customers. Ensure the return on investment (ROI) is positive and scalable. Track your customer acquisition cost (CAC) and compare it to your customer lifetime value (CLTV).

“If you don't have a way to pay money to acquire a customer you don't have a business.”

Recruit individuals who are better than you in specific areas. Seek out those who can innovate and make good decisions independently. Develop a clear job description that outlines the required skills and experience. Example: Look for a marketing manager with proven experience in scaling online advertising campaigns.

“You need people that you can just let have the thing right.”

Provide your team with the resources and support they need to excel. Foster a culture of freethinking and independent decision-making. Invest in training programs and mentorship opportunities to develop your team's skills.

“Give them everything that they need so that they can do that”

Create a culture where everyone is aligned with the overall business goals. Ensure that individuals are optimizing for the same objectives, even with their unique perspectives. Communicate your company's values and mission clearly and consistently.

“They are all optimizing for the same thing”