Day three of working on the new biz. So far, Thursday & Friday last week. A few tweaks ‘n’ things on Saturday (not counting that as a day), and today, day three. Monday.
I wanted to tackle two tasks today:
- Re-think the packages and run a rough cost/time estimate for the delivery of each package
- Start drafting the sales page copy and see how far I can get
How I’m staying productive
I’m sure a lot you reading this are wondering how I’m getting things done quickly while sticking to ~2 hours per day alongside running an existing business and managing other priorities (health, marriage, reading, social life, etc.)
It’s really not hard because I’m not doing anything groundbreaking. Anyone can do this.
Anyway, here’s how I’m getting stuff done:
Tactic #1: I schedule my daily 2 hours work on AutoFunnel in the calendar. This is non-negotiable. Once it’s there, it’s there.
Tactic #2: I try to avoid as much “busy work” as possible.
AutoFunnel is not at a stage where it requires the creation of SOPs, social media promotion plans or maintenance, paid advertising, or basically 95% of general tasks. It’s not even a legit business yet. I haven’t finished the sales page. I’m staying productive and getting things done because I’m focusing sequentially on the most important things.
I’m also avoiding over-planning, because I have a tendency to do exactly that: overthink things.
Because of this tendency, I’m going a little too far the other way. Again, there’s a possibility of putting everything up and trying to market it yet failing to generate any sales because the positioning sucks and I haven’t thought through it enough, but I’d rather take action and have that happen than perpetually plan and strategize.
Tactic #3: I’m documenting the process. I don’t want anyone reading this to know that I’m not a productive person. I want people to think that I get stuff done. I know I’m going to write a post about the work I’ve done each day, so I do the work. It’s straightforward.
I came up with rough pricing on Friday, but I wanted to spend some time crunching the numbers and running some estimates as to how much it would cost to deliver each package, what the profit margin would be, and what this business could look like 12 months down the line if everything goes to plan (which it won’t).
The first thing I did was create basic rundown of costs involved in each package.
The costs are likely to be higher than this, especially initially. There are two main ways to lower them, which I will be focusing on if/when I start getting customers:
- Lowering the hourly rate. Initially it will be me doing all the work, so the profit margin is way higher because I don’t technically need to pay myself. However, I do plan on hiring as soon as I can. It may make sense to pay $50/hour for people doing highly-skilled work, and less for other things, which should lower the overall cost.
- Better systems. Over time, we’ll become more efficient and doing the work and thus it will take less time. Good SOPs and systems are required for this.
After creating the packages, the next thing I did was create a basic spreadsheet that would track hypothetical growth over 12 months (the actual numbers are likely to be completely different because there’s no historical data to work from).
A few things to mention:
- This assumes that the most popular package will be Package 2, followed by Package 1.
- I’ve added in arbitrary costs (Other est. costs) because I know they’ll exist. Software, admin, etc.
- My initial projection resulted in a ~30% profit margin which I thought was far too ambitious, so I changed the numbers around to get closer to 20%
- The growth rate isn’t actually 20% as you can see so don’t call me out on this
Sales page intro
I spent a good hour or so on this (~750 words) but I’m not happy with the results. I need to be more precise with the language and positioning.
I’m wondering how “long-form” the sales page really needs to be. My goal is to push people into free consultations, not buy straight from the sales page, so I don’t think I need to have a 10,000 word sales letter.
Review + tomorrow’s plan
Was a productive day. Happy with what I accomplished. Eager to get the ball rolling on everything else.
Did I achieve what I set out to do yesterday?
No, I wanted to think through more fundamental aspects of the business model before worrying about sales page copy and logo design (very unimportant).
Tomorrow, I will:
- Draft first version of the sales page
- Money spent: $50 total
- $50 for domain name (autofunnel.io)
- Money earned: $0
- Hours worked: 2 (total: 6.5)
- Coffee count: 3 (total: 8)