The #1 Question All Failed Entrepreneurs Can't Answer

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This question defines your success...

Let me put you in a situation...

You take your boyfriend and or girlfriend out to dinner with their parents. It’s the first time you’ve ever met them and you’re pretty nervous.

During dinner, the father of your significant other leans over and asks you, “So, tell me, kid. What do you do for work?”

What do you say?

How do you explain it so he can understand?

If you can’t answer that one question in a clear and concise statement to anyone that asks, then your entire business could be at risk!

HOW?

In today's episode, I will teach you the BEST way to answer this question so you don’t risk missing out on huge deals, opportunities, and potential clients! 

Knowing what I’ll teach you today will give you a clear path for your brand, marketing, and products…

In this episode, Dan is going to cover:

• The ONE question every entrepreneur must know how to answer to create a clear marketing strategy 
• Why becoming clear on what you sell will define whether or not people will understand and buy
• How to use "The Dinner Table Test" to make sure you have a powerful RMS

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— TRANSCRIPT —

Hey, everyone. In today's episode, I'm going to go over the number one question that every failed entrepreneur cannot answer. And if you can't answer this, you're on your way to a successful business.

Alright, so this one is something I deal with. Literally every week I will meet entrepreneurs. I will have coaching calls with people that, you know, get in our coaching programs or in our mastermind or whatever. And it's funny because everybody that's struggling, everybody that is having a terrible time getting things off the ground, right? Like really getting that first initial push out there, your first funnel, your first webinar, or whatever it is. And they just can't seem to move past a certain sticking point. They all have this one thing in common. And that is the ability to answer one simple question. What do you sell? That's it, I cannot count the time I've been on coaching calls or just at a party, you know, where I'm I meet a bunch of business owners or, or people that are, you know, trying to be business owners or just regular people who have a business idea, whatever.

And I'll literally say, what do you sell? And this is what I'll get. Oh, well see. Okay. So well okay. So well here's my story. And I'm like, Whoa, I didn't ask for your story. I asked what you sell. Well, let, let me explain it. Well, you don't have to explain it. Just tell me what you sell. Well, well look so here. So here's what happened. No, I don't want to know what happened. What do you sell? Right. And that right there is the problem. If you cannot explain what you sell in one clean sentence, one short, super clean sentence, then you don't have a business. You don't. I call this an RMS, a refined marketing statement. Okay. It's something that we teach in our sold-out courses program. And without this, you'll never sell a super-profitable or successful digital product, but really you won't sell anything at all.

Except maybe some candy or like a snow cone maybe, but here it is. What do you sell? So an RMS is I help market or audience get desire without the alternative things that they have tried and failed by my specific vehicle. Well, let me break that down. So for instance, let's say that you are a, let's say you have an online course that sells to authors, right? And what you specifically teach is you teach authors to give up the big stages trying to go for these big stages because the big stages they don't pay much and they just get you on there for free, because it's, you know, thinking that you'll get cloud and you want to get up on stage and or you have to sell or whatever, and you won't get, you won't get those stages because they're super competitive or you have to be a great stage closer or whatever.

And so you teach speakers to land small corporate events of 10, 15, 20 people go in and train these corporations and get paid a high ticket amount. So let's say that, you know, you want to help a speaker land a gig at a, I dunno, an automotive dealership where that automotive dealership has a budget every quarter for training. And so they're willing to pay a sales trainer, 10 grand to come in for the day and speak to their team of 15 sales reps. Right? So let's say, that's your thing. Now you could simply say, I help speakers make more money speaking without landing huge events or having to sell from stage by doing small high ticket niche, corporate events done. Right? You make it super clear in one sentence because if you cannot do that and I call it, I call it “The Dinner Table Test”, right?

Let's say you're out to dinner for the first time with your boyfriend or girlfriend's parents and boyfriend or girlfriend’s father leans over. And he says, what do you do if you can't say in one sentence to your new girlfriend's father or boyfriend, whatever, what you do and have him go, Hmm, okay, got it. Then you cannot possibly market that. You cannot explain that to your customers in any sort of a, with any sort of efficiency, right? If it takes you a 10-minute video or a 60-minute webinar or a string of emails or random 30-minute lives where you don't get to the point for 20 minutes, just to tell people what in the ever living hell you sell, then you don't have a business. You have a BS hybrid hobby idea slash pipe dream. I don't know what to say. Okay. Or you have a business, but you cannot articulate it yet.

And therefore it's very difficult to market. You have to be able to say that in one sentence, for instance, mine is I help experts sell their knowledge online without live launches, live webinars or joint ventures by selling an auto green webinar through paid. Right. Boom. Now I could, I could shorten that and say, I help experts Southern knowledge online. And that's, that's a short version of an RMS and that's great for your byline or a bio when you get interviewed on a podcast or that's what I would tell like a father at dinner with a girlfriend, but to your market, you can be either you can do the full RMS, which is what I just, you know, I help “audience” get “desire” without “common roadblock” through “the new vehicle”. Right. And there's a lot more to the RMS than what I've covered here, because it's not just about, you know, you really have to dive into the actual desire.

Is it accurate? The actual roadblock? Is it, you know, how do you articulate the roadblock in a way that makes them feel like they know, or you know exactly what they're thinking, you know exactly what they've been struggling with. How do you articulate the new vehicles so that they feel it's a new vehicle and it's something new to try because people, you know, they like to try new things, right? If you were dieting on, on a diet and you couldn't lose weight, would you try harder at the diet or would you try a new diet? Well, most people would try a new diet. Okay. Because we are programmed to try a new method, a new thing. Even if that thing isn't necessarily a new method, as long as you can package it and articulate it in a way that makes them think it's a new method, then not only will they be more likely to buy, but there'll be more likely to actually take action and use it.

So that is a super, super, super skim. The surface explanation of the RMS. And trust me, this is like the most core thing. Like when I'm on the coaching calls in like sold out courses, you know, people will think that they've nailed it. They'll come on the call. You know, they'll be like, Dan, I can't, I can't figure out my webinars just don't know what the direction is. And I said, well, what's your RMS. And they'll say to me, and it won't make any sense. And then we'll, we'll make it make sense. And then they'll be like, Oh, I get it now. And then when they go to do all their marketing, it just becomes easier. Right? And that's the thing is if, at your core, you have a strong RMS, a strong ability to simply say, what in the freaking heck you sell.

And that flows out of you easily, that clarity, that clarity in articulation of what you sell and how you help people will make every aspect of your business easier. It'll make every aspect of your business so much easier to create webinars, emails, funnels. All that stuff becomes super easy. But if you go into that stuff and you're not clear, everything's gonna seem hard. Everything's going to seem overwhelming. Everything is going to seem like you don't know what to do next. And it's not that you suck at funnels or email copy or any of that it's you don't know what you sell. You just don't any may think, you know what you sell, but unless you can articulate it in one clean, clear sentence, you don't know what you sell. And if you don't know what you sell, your customers won't know what you sell.

And no amount of funnels, emails, webinars, sales, pages, none of that will help an offer. That is not clear. So my challenge to you today is to get clear, get clear on what you sell. And if you happen to sell digital products, you can always check out our webinar on how I took a simple idea and scaled it to a $10 million online course business. Okay. I'll leave the link to that in the show notes, or you can just go to sold-out courses.com and check that out. All right. I'll see you guys in the next episode. Love you. And remember, be clear.