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This episode is a business coaching course that teaches how to develop your idea.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Lesson Nugget: In order to achieve your fulfillment of your dreams, you will need to risk not being comfortable along the way.
  • Ask Yourself: How am I going to find the support I need to start my idea?

Tulsa Community College Continuing Education powered by Thrive15.com

[MUSIC PLAYING]

-It's gotta be sketched. You've got to bring your idea in your head into physical manifestation.

Today's been a beautiful day. I've been blessed and fortunate to bring you into my home, and walk around the garden, and look at this fantastic setting.

And it's actually not as simple as, well I made it. Look where I am. I think look where I am comes from a really scary place. And I think we all have to face this.

And maybe that seems a bit strange right now, coming out of my face that look where I am. And this is a scary place. But I think it's true.

Because if the push with the business is to hold on to what you have, then everything is at risk.

And the things that are risked are the most important things-- the kids, school, food, medical insurance, cars, mortgages, the real stuff. It's so much easier to go to work, get a paycheck, and have the security of budgeting your life from their paycheck.

But here comes what Thrive is all about. I believe Thrive is about taking that chance, that risk, and that opportunity to manifest something this lifetime that you believe in.

I've had many nights of waking up, vibrating in bed, shaking and trying to figure out what tomorrow will look like. $7 or $6.20 in the pocket. Being in the verge of debt, waiting for the next check to come in. And then being in a position to go out and try to get somebody to believe in this concept, this idea, this ingenious way to support or change the way people think, behave, and something that may be an incredible opportunity for a business venture.

So the nitty-gritty, the tough stuff-- how do we get to a place where we face the trauma of not having the money, not having the backer, not having the support, not having the person who we have even in our context list? Who are we going to go to? Is this a friend of a friend? This is tough stuff. This is really difficult.

Clay Clark spoke about something really important this morning. He asked me a question, and he mentioned about believing in yourself and adversity. And then we spoke a little bit about how you could think and make this thought manifest because you believe in this thought. There were books that were written on this and there are programs that don't stop being positive. And don't start with this thinking... Tulsa Community College Continuing Education.

But in practical terms, what do you do when you don't have a database? You need people to support and help you. But you don't have the money to pay them. You don't want to give them stock in your company that doesn't exist. You don't want to make promises that you can't match at the end of the day. And you don't want to also give your equity of your business away before you have a business. Because there's no valuation of

nothing.

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Featured Coaching Excerpt - Notes & Transcript, Part 2
  • Action Step: Write out your idea clearly and concisely.
  • Lesson Nugget: The visuals of your business will cause you to gain or lose credibility with your customers.
  • Lesson Nugget: The visuals of your product or service must be able to clearly articulate what it is you want to do.
  • Action Step : Before naming your product, make sure a domain name that you can use is available.
  • Action Step : Things you can do with a small budget: develop your strategy, secure your name and concept, work on your tagline, and establish a logo.
  • Lesson Nugget: Develop your strategy and be ready to answer any question that potential investors could ask you.
  • Lesson Nugget: Imagine your ultimate goal and work backwards from there to plan out all the steps you will need to take.

So where are we going to start? The first place to start is the least inexpensive way to be really, really clear of what this idea is. Once you know what this idea is, you need to write it out. It's got to be sketched. You got to bring your idea in your head into physical manifestation.

So the steps are what is my visual? And today, visuals are very different. It's a website.

It needs a name. It needs a look and a feel because it's a brand. But that's fine. But you need money to do that.

So how do you get from step one to step two? And this is something that you possibly know and I know from experience of the start up that this is possibly one of the hardest things to do. What is this visual going to be? And I think these are the people that you need to go after in the beginning. And you can't go after these people until you have some money to pay them.

And if you don't go to somebody that has some talent, then it's going to reflect on what your presentation is going to be. Because it's going to reflect the future of your business, and what this opportunity is. So we know that there are a lot of steps and there are a lot of rules like, make if, fake it till you make it, don't stop believing in yourself, believe in the concept, say the concept over and over. But that's sort of philosophical really now, in one respect.

We need to get practical. You need a photograph on your iPhone, you need a video, you need some drawings, you need a CAD drawing. Depending on the nature of your product, you need to be able to articulate it, it needs to have a tagline, it needs to have a name.

If you're trying to protect a name, you're going to have to go through the patent process. You're going to have to see that your name's available, so you have to go through the research of going on to the internet and making sure that your name actually is free, so you can purchase the domain. Most domains are between $9 and $17 or $20 to secure for a year.

Secure your name. Just like your name, maybe Jonathan Goldberg, Johnny G. Is JohnnyG.com available? No. Jonathan Goldberg, possibly not. You may have to alter your plan by just securing a name.

From securing the name, are you going to be branding your products with this name? So these steps need to be thought out prior to going to your investor. And if you don't have the opportunity to go through these steps, the basic foundational steps, you possibly shouldn't be pursuing this part of your opportunity right now. So the things you can do that aren't going to cost you money that are going to cost you time.

Plot and plan the journey. Develop the strategy. Secure your name. Secure this concept.

Work on your tagline. If there's a logo, sketch around, so you can get clear on this. If your organization is going to be around a product, think out this product. Because these are the questions that potential investors or people that you're going to run into are going to be asking you.

It's happened to me a hundred times. I've shown up in a meeting, and somebody's asked me a question. I haven't thought out the question. I sort of sit with a blank face. I fumble around, and that's it. It's over.

So the most reflective part of the journey for me is one, not to just see the end game, but work from the end game to the beginning. And this is what I'm articulating right now. See the end game.

I want to do The Race Across America. I see New York City. I then go from New York City and I come back to LA. When I'm in LA, I have to think about, how am I going to cross America on a bicycle? What type of bicycle?

Do I need to get it sponsored? How many sets of wheels? What am I going to do for fuel? Am I going to have to go and talk to a nutrition company? Who's going to help me with the mechanical side of putting my bicycle together?

Do I need a mechanic? Am I going to need somebody to follow me on this journey that's going to be able to support me for 220 hours? These are the kind of details that you need to break down.

Featured Coaching Excerpt - Notes & Transcript, Part 3
  • Lesson Nugget: Failures are part of the journey. If you go down, go down with a fight, but know that it is not the end of your life, it is just business.
  • Lesson Nugget: Your ability to deal with adversity is the most important attribute you can have when facing a battle.

Tulsa Community College Continuing Education powered by Thrive15.com

-So if you're taking this venture, Thriver, and Thrivers of the world, we are all in the same boat. We have this incredible opportunity to use a resource center, to go and tap into the minds and intelligence of so many mentors on this one portal, this one website. They can give us the encouragement, the insights, and the basics for us to grow.

My takeaway from this, what you can get from me, is if you're going to go down, you may as well just go down. And go down with a fight. And remember that it's only business. There's business. There's work. There's life. And there's happiness. So these things, I think, outweigh all the other things.

And if you should be blessed where you have millions and billions of dollars, and your business is a legacy for your family and your family's family, that is inspiring. But in the beginning stages, there's nothing more important to head out into this battle being able to take a knock. And if you take a knock, don't give up on the process. The process is something to your dying day that you keep fighting for... Tulsa Community College Continuing Education.

And this is what makes us incredible, resilient as human beings-- that we've got the ability to never give up, to keep moving forward, and to make our dreams an extension of who we

are.

Looking for Tulsa Community College Continuing Education? Learn from mentors like Tim Redmond

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