Profit Academy // Church for Entrepreneurs

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2 0 Profit Academy Overview 0.1 Goal I wisdom dwell with prudence, and find out knowledge of witty inventions. Proverbs 8:12 God is wisdom and He freely gives us entrepreneurial ideas that bring value to others and profit to us. However, there is a BIG GAP between the God-given idea and correctly turning that idea into profits. Gain the proper Biblical mindset to profit from your idea Clarify the idea God has placed in your heart Develop a solid profit plan to turn your idea into profits Create a marketing plan to systematically attract your ideal clients Learn a process to grow from $0 in profits to $100k in profits 0.2 Outline 1 Profit Mindset To prosper you must have the correct spiritual mindset about money. 2 Profit Model To turn your God idea into profits you must treat your idea like a research and development project that discovers a Profit Model for your idea.a Profit Model outlines a clear path to profits for your God idea. 3 Profit Discovery You discover the components of your Profit Model through conversations and actually making sales. Then create doable and measurable goals to guide you from your first $1000 dollars and beyond. 4 Profit Model Worksheet Create your own Profit Model for the idea God has placed in your heart. churchforentrepreneurs.com 2

3 1 Profit Mindset "He that withholdeth corn, the people shall curse him: but blessing shall be upon the head of him that selleth it." - Proverbs 11:26 KJV To prosper you must have the correct spiritual mindset about money. It may be all about the money Be clear about why you want to profit Discover how to profit from your ideas 1.1 It may be all about the money 2 Kings 4:1-7 KJV (No handouts or discussion of purpose) [1] Now there cried a certain woman of the wives of the sons of the prophets unto Elisha, saying, Thy servant my husband is dead; and thou knowest that thy servant did fear the LORD: and the creditor is come to take unto him my two sons to be bondmen. [2] And Elisha said unto her, What shall I do for thee? tell me, what hast thou in the house? And she said, Thine handmaid hath not any thing in the house, save a pot of oil. [3] Then he said, Go, borrow thee vessels abroad of all thy neighbours, even empty vessels; borrow not a few. [4] And when thou art come in, thou shalt shut the door upon thee and upon thy sons, and shalt pour out into all those vessels, and thou shalt set aside that which is full. [5] So she went from him, and shut the door upon her and upon her sons, who brought the vessels to her; and she poured out. [6] And it came to pass, when the vessels were full, that she said unto her son, Bring me yet a vessel. And he said unto her, There is not a vessel more. And the oil stayed. [7] Then she came and told the man of God. And he said, Go, sell the oil, and pay thy debt, and live thou and thy children of the rest. 1 Kings 17:2-9 KJV (God directs in the direction of money) [2] And the word of the LORD came unto him, saying, churchforentrepreneurs.com 3

4 [3] Get thee hence, and turn thee eastward, and hide thyself by the brook Cherith, that is before Jordan. [4] And it shall be, that thou shalt drink of the brook; and I have commanded the ravens to feed thee there. [5] So he went and did according unto the word of the LORD: for he went and dwelt by the brook Cherith, that is before Jordan. [6] And the ravens brought him bread and flesh in the morning, and bread and flesh in the evening; and he drank of the brook. [7] And it came to pass after a while, that the brook dried up, because there had been no rain in the land. [8] And the word of the LORD came unto him, saying, [9] Arise, get thee to Zarephath, which belongeth to Zidon, and dwell there: behold, I have commanded a widow woman there to sustain thee. 1.2 Be clear about why you want to profit Hebrews 11:1 KJV (Faith requires you to correctly acknowledging your desire, to receive it.) [11] Now faith is the substance of things hoped for, the evidence of things not seen. Psalm 35:27 KJV ( God enjoys you prospering) [27] Let them shout for joy, and be glad, that favour my righteous cause: yea, let them say continually, Let the LORD be magnified, which hath pleasure in the prosperity of his servant. Ecclesiastes 5:19 KJV ( make money to enjoy it) [19] Every man also to whom God hath given riches and wealth, and hath given him power to eat thereof, and to take his portion, and to rejoice in his labour; this is the gift of God. 1 Timothy 5:8 KJV ( make money for family) [8] But if any provide not for his own, and specially for those of his own house, he hath denied the faith, and is worse than an infidel. churchforentrepreneurs.com 4

5 Genesis 30:30 KJV (make money for family) [30] For it was little which thou hadst before I came, and it is now increased unto a multitude; and the LORD hath blessed thee since my coming: and now when shall I provide for mine own house also? 1 Corinthians 7:33-34 KJV ( make money so spouse can have things) [33] But he that is married careth for the things that are of the world, how he may please his wife. [34] There is difference also between a wife and a virgin. The unmarried woman careth for the things of the Lord, that she may be holy both in body and in spirit: but she that is married careth for the things of the world, how she may please her husband. Proverbs 13:22 KJV ( make money for grandkids) [22] A good man leaveth an inheritance to his children s children: and the wealth of the sinner is laid up for the just. Psalm 112:1,3,9 KJV [1] Praise ye the LORD. Blessed is the man that feareth the LORD, that delighteth greatly in his commandments. [3] Wealth and riches shall be in his house: and his righteousness endureth for ever. [9] He hath dispersed, he hath given to the poor; his righteousness endureth for ever; his horn shall be exalted with honour. Acts 20:35 KJV ( make money to give) [35] I have shewed you all things, how that so labouring ye ought to support the weak, and to remember the words of the Lord Jesus, how he said, It is more blessed to give than to receive. Psalm 37:4 KJV ( God has given you whatever desires you have for money) [4] Delight thyself also in the LORD: and he shall give thee the desires of thine heart. churchforentrepreneurs.com 5

6 1.3 Discover how to profit from your ideas Proverbs 8:12 KJV (Wisdom is placed in your heart) [12] I wisdom dwell with prudence, and find out knowledge of witty inventions. 1.3 Discover how to profit from your ideas Proverbs 24:3-4 KJV Wisdom is the big picture about it Understanding is the faith for it Knowledge is how to do it - low level details [3] Through wisdom is an house builded; and by understanding it is established: [4] And by knowledge shall the chambers be filled with all precious and pleasant riches. Romans 10:17 KJV [17] So then faith cometh by hearing, and hearing by the word of God. Proverbs 2:2 KJV (Wisdom is given by God, understanding is developed) [2] So that thou incline thine ear unto wisdom, and apply thine heart to understanding; Proverbs 2:10 KJV (knowledge is the details in the soul realm - it is learned) [10] When wisdom entereth into thine heart, and knowledge is pleasant unto thy soul; Acts 17:22-23 KJV (knowledge example) [22] Then Paul stood in the midst of Mars hill, and said, Ye men of Athens, I perceive that in all things ye are too superstitious. [23] For as I passed by, and beheld your devotions, I found an altar with this inscription, TO THE UNKNOWN GOD. Whom therefore ye ignorantly worship, him declare I unto you. James 2:17 KJV (knowledge example) [17] Even so faith, if it hath not works, is dead, being alone. churchforentrepreneurs.com 6

7 Matthew 25:14-16,20-28 KJV (didn t tell how to do it, that s for us to discover) [14] For the kingdom of heaven is as a man travelling into a far country, who called his own servants, and delivered unto them his goods. [15] And unto one he gave five talents, to another two, and to another one; to every man according to his several ability; and straightway took his journey. [16] Then he that had received the five talents went and traded with the same, and made them other five talents. [20] And so he that had received five talents came and brought other five talents, saying, Lord, thou deliveredst unto me five talents: behold, I have gained beside them five talents more. [21] His lord said unto him, Well done, thou good and faithful servant: thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy lord. [22] He also that had received two talents came and said, Lord, thou deliveredst unto me two talents: behold, I have gained two other talents beside them. [23] His lord said unto him, Well done, good and faithful servant; thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy lord. [24] Then he which had received the one talent came and said, Lord, I knew thee that thou art an hard man, reaping where thou hast not sown, and gathering where thou hast not strawed: [25] And I was afraid, and went and hid thy talent in the earth: lo, there thou hast that is thine. [26] His lord answered and said unto him, Thou wicked and slothful servant, thou knewest that I reap where I sowed not, and gather where I have not strawed: [27] Thou oughtest therefore to have put my money to the exchangers, and then at my coming I should have received mine own with usury. [28] Take therefore the talent from him, and give it unto him which hath ten talents. Proverbs 15:22 NLT (need feedback from others) [22] Plans go wrong for lack of advice; many advisers bring success. churchforentrepreneurs.com 7

8 2 Profit Model "Do your planning and prepare your fields before building your house." - Proverbs 24:27 NLT To turn your God idea into profits you must treat your idea like a research and development project that discovers a Profit Model for your idea. A Profit Model outlines a clear path to profits for your God idea. Concept 1. Problem : What is the hidden problem someone is having 2. Solution : What is your focused solution to that problem 3. Customer : Who is able and willing to pay to have that problem solved 4. Price : How much are you charging to solve the problem Marketing Sales 5. Attract : What are you giving away to attract potential customers 6. Nurture : What is the process to warm up potential customers 7. Referral : How are you going to encourage people to tell others 8. Repeat : How are you going to get customers to buy again 9. Persuade : What words are needed to persuade someone to buy churchforentrepreneurs.com 8

9 3 Profit Discovery "Counsel in the heart of man is like deep water; but a man of understanding will draw it out." - Proverbs 20:5 KJV To discover the Profit Model components you must find them through conversations and actually making sales. Each week your goal should be at least 10 conversations and at least 1 sale. 3.1 Feedback and Adjustment Process Prayer: Keep checking in with God until you have peace Educate : Learn all you can about your industry Conversation: Talk with potential customers and others in the industry Experimentation: Try out various versions of the profit model to see which one makes money. To do this you actually must sell something to someone. Facebook ads to a pre-sale page Build a mini version of the solution and sale it Switch the customer profile Switch the sales copy Enjoyment: Did you enjoy performing the service or delivering the product Profits: Are the profits (revenue - expenses) what are needed for your life This process is not a one time thing and will take time to find the right Profit Model. 3.2 Doable and Measurable Goals Proverbs 13:12 KJV [12] Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life White Belt: $1000 one time Yellow Belt: $1000 per month in profit Brown Belt: $1000 per week in profit Black Belt: $1000 per day in profit churchforentrepreneurs.com 9

10 3.3 Making your first $1000 dollars Pick which idea to work on first Don't do the normal business setup stuff Business cards Website Headshot Bank account Office setup Incorporate Focus exclusively on Stage 1 activities Problem Solution Customer Price Persuade Before you build anything have at least 10 conversations with potential customers Try to get at least one pre-sale After 10 conversations and 1 pre-sales use the feedback to adjust the stage 1 profit model. Build the product or service Keep having conversations and making sales until you hit a $1000 in profit Run a facebook ad to a sales pages Try different version of the sales page churchforentrepreneurs.com 10

11 4 Profit Model Worksheet Idea Name 1 Problem What is the hidden problem someone is having? 2 Solution What is your focused solution to that problem? 3 Customer Who is able and willing to pay to have that problem solved? 4 Price How much are you charging to solve the problem? churchforentrepreneurs.com 11

12 5 Attract What are you giving away to attract potential customers? 6 Nurture What is the process to warm up potential customers? 7 Referral How are you going to encourage people to tell others? churchforentrepreneurs.com 12

13 8 Persuade What words are needed to persuade someone to buy? 9 Repeat How are you going to get customers to buy again? churchforentrepreneurs.com 13