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178 – Discover the “Whys” Behind Your Business
Episode 1783rd September 2018 • Gift Biz Unwrapped • Sue Monhait
00:00:00 00:29:27

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Who, what, why, when, where. Back in my college journalism days, these were the necessary points to cover in any article or broadcast. As a business owner, experience has shown me that the first and most important one, by a long shot, is “Why.” Knowing the “Why” of your company is like creating a guidebook that outlines the answers to the rest. The who, what, when and where. It brings direction and clarity to all your decisions and actions. With direction and clarity comes business momentum and growth. Without it there is confusion, random action and stalled or declining results. There are actually two “Whys” and it all starts with discovering what these are for you. They are completely individual. There is no power in borrowing someone else’s “Why.” It’s something you must discover for yourself. We go through the description of the two “Whys” you are after. I’ll give examples from others that will help you uncover your own unique position. This can lead to significant change for you and your business. I’m so excited for your discovery!

Business Building Insights

  • Understanding your two “Whys” brings purpose to your efforts and clarity to your actions.
  • Having an understanding of your personal underlying motivation will help you through the difficult times in your business.
  • Starting a business solely to bring in money leads to disaster. There must be something more.
  • One of your “Whys” is only for you. You can even keep it private if you do want. Once you have it identified, it will give you power.
  • It’s up to us to tell and excite people about learning more and using our product or service.
  • What makes your product most valuable is not the features that can already be seen. It’s the emotional connection created by knowing and talking about the “Why.”
  • Your “Why” sets you apart from others and leads to the most loyal customers.

Resources Mentioned

How Great Leaders Inspire Action with Simon Sinek Start with Why by Simon Sinek Shopping For a Change

Contact Links

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Gift Biz Resources

Join our FREE Gift Biz Breeze Facebook Community

If you found value in this podcast, make sure to subscribe and leave a review in Apple Podcasts or Google Podcasts. That helps us spread the word to more makers just like you.
Thanks! Sue

Transcripts

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Gift biz unwrapped episode 178 today we are going to talk

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about how you can discover the two why's behind your business.

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Yes, there are two why's and when you've identified your wise,

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the purpose behind all your effort becomes so much clearer and

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consequently the actions that you take for your business are right

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in line with your why's.

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We're going to go through all of that today.

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It probably doesn't make complete sense to you now,

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but stay tuned.

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It will.

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When we're done with this podcast,

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you're going to have direction on and possibly already have identified,

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know and understand the two why's behind your business Attention gifters,

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bakers, crafters,

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and makers pursuing your dream can be fun.

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Whether you have an established business or looking to start one

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now you are in the right place.

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This is gift to biz unwrapped,

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helping you turn your skill into a flourishing business.

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Join us for an episode packed full of invaluable guidance,

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resources, and the support you need to grow your gift biz.

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Here is your host gift biz gal,

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Sue moon Heights.

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Hi there.

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It's Sue And welcome to the gift biz unwrapped podcast.

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I'm solo behind the mic today to talk to you about

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these two very important why's for your business.

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I was recently at a convention and one of my favorite

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things that we do there is something called speed coaching.

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Six of us who are on faculty set appointments with people

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and for 15 minutes we did some mini coaching sessions and

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what I really love about these is we get straight to

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the point,

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the people who have signed up really think through what they

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want to talk about because they only get 15 minutes,

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right? We dive right in and it's so interesting how in

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such a concise amount of time we really get to some

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true breakthroughs and aha moments.

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This time around,

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I really identified something that's been bothering me for a while

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and I decided that it's a reason why I want to

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approach this here with you and talk about it.

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The event that I was at was the national gift basket

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convention and when I first sit down with my speed coaching

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clients, I want to know about their business.

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I want to see how they're presenting their business.

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To me,

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typical of most of us as we're starting out until we've

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discovered our wise,

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I was hearing the same thing from every single person and

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what they really thought was something special,

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unique to them were words that were being repeated by every

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single person who came in front of me.

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So it really unfortunately wasn't that special at all in terms

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of the way they were describing their business.

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But truth be told,

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each and every company and business owner had something that was

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really unique and special about their business.

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Stick with me here because even though we're talking about gift

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basket businesses,

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this can apply to any business out there within the gift

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basket in industry,

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especially the smaller single business owners who run smaller businesses,

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you know,

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with employees,

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not just necessarily themselves.

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The big thing within the gift basket industry is customization because

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you can pick out specific products,

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you can design a basket with different containers.

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Boxes are really popular these days.

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You can put different ingredients in the baskets or boxes that

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can be customized to a recipient.

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Additionally, there can be custom messages,

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custom ribbon,

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all of that.

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So that's what people were telling me about their business and

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why they were unique because they were able to do that

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when in reality,

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the hundred and 60 so people who were at this conference

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could all do the same thing again,

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there really wasn't a unique different to the businesses as they

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were being presented.

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So I want you to think for yourself with your business,

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how are you presenting yourself to the world and are you

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really diving in and explaining what is so special about your

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business? This is the base behind the two whys and if

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you're not sure if you're saying,

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Sue still,

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I have no idea what you're talking about.

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We're going to dive into that right now.

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If you haven't identified your wise,

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most likely you're not communicating in a powerful or memorable way

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about your business.

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You see,

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it's up to us to excite people about learning more and

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wanting to work with us.

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There are two why's that we're going to analyze here.

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The first one is why you are in business from a

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personal perspective.

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And the second is what your business does.

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That's a value to your potential customer.

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In other words,

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why your product is useful,

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why people should buy from you.

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Just going to break these down individually and let's get started

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with the first one.

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Why are you in business to discover this?

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You have to be brutally honest with yourself.

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Think back to how you started.

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Did you have a vision?

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Did someone else suggest to you that you should start your

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own company?

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Did it come from a place deep within that was just

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a passion and you wanted to do more and more of

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it and you figure if I can monetize this,

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then this is what I can do all the hours of

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my working day.

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Or were you looking for freedom from your nine to five?

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You just weren't happy with the career or the job that

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you have.

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So you want to break free from that cubicle jail if

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you will.

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Or perhaps you want to work while you're at home with

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the children.

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You want to be bringing in and contributing money to the

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family income,

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but you also want to stay home with your children.

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Perhaps you're at a point where you are ready to retire

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from a career that you've had for years,

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if not decades,

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but you're not ready to stop working yet.

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So this in terms of your new business or the business

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that you're currently in is a second career.

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These are all things to really just make sure that you

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understand that this was the start of why you're in business

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today or why you're thinking of starting a business.

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The second thing I want you to think about with this

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personal, why is feelings,

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so you might have your logical reason about why you wanted

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to start your business,

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which is what we just covered,

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but what is the end result?

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What is the feeling and the value that having a business

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gives to you?

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It could be just flat out pride.

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Maybe you want to prove to somebody in your family that

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you could do it because you've always wanted their respect.

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Now that's kind of a harsh pill to swallow,

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but you should be honest with yourself.

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Maybe that's why you started your business.

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Maybe you love the idea of owning something for yourself and

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the idea of building something and making it out of nothing

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really, really excites you.

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Perhaps maybe the challenge of a business,

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the excitement of having to confront problems and challenges and overcoming

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obstacles is something that you really love.

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Now. Yes,

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I'm sure some of you are saying,

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well, you know,

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no, I'd rather have it all go smoothly all the time

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and we all know that that's not the case,

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but there are people who really,

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really do love the challenge,

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the hunt,

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the pursuit of a goal.

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So all of these are also things to consider when you're

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thinking about and being really honest with yourself,

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why you're in business.

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One thing I want to point out here,

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I mean obviously if you're turning or a hobby or a

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craft into a business,

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part of this is about bringing in income,

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making money,

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right? But if that's the sole purpose,

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if you've decided that you are going to turn your love

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for making chocolate into a business only because you want to

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make money,

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that thinking and that motivation won't pull you through.

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When things get tough,

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there has to be another underlying reason,

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a goal,

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something deep inside of you that helps drive you forward when

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things are challenging,

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not just that you're going to be making money.

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Now, this personal why is not something that you broadcast all

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over. It's something for you to really understand inside yourself so

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that it brings purpose to when you're getting up early and

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going into the office when you're struggling with trying to figure

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out something techie because your website is down.

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When you're faced with a difficult customer,

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when the inevitable challenges come up for business,

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you can go back to your why and say,

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this is exactly the reason why I'm going through these challenges

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and these struggles.

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By having that why you're clear on your vision,

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you're clear on your goal and you're clear on what it

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does and how it affects your life.

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That's the first why,

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from a personal perspective,

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why did you decide or why are you thinking about starting

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a business in the first place?

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Be clear.

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Be honest.

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You can keep your why close to your heart.

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You don't have to tell anybody,

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but it's going to help you and support you as you

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go forward in your business.

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There are days I've had them too,

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when you're just like,

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why did I even start this?

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Maybe I should just shut it down.

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Is this all even worth it?

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Those are the times when you pull up this Y that

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you've identified.

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And remember in the very beginning,

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before all these struggles came up,

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the purpose and the reason and what it does for you

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as a person in your heart.

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And that's why you want to know your why.

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It's there for you when things get tough.

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And now I need to interrupt our discussion for just a

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quick minute.

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Why? For a word from our sponsor.

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This podcast is made possible thanks to the support of the

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ribbon print company.

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for more information.

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So back to my speed coaching clients.

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This isn't something that I would necessarily ask them potentially if

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I was working with someone longterm,

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I might just to find out the grounding of their purpose

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for the business,

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but now let's get into the outfacing.

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Why have a business?

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By that I mean,

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what is the why behind the results that you offer to

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your customers?

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With my gift basket people,

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again, remember I said that everyone was giving me the same

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explanation for their business,

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that they offered customization.

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They could create something that was unique to a recipient,

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et cetera,

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et cetera.

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That does sound a little bit different because it's different than

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the gift baskets you'd see in the big box stores or

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the gift baskets that you can buy online from.

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These big companies.

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They can offer very limited customization,

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but it's not enough.

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It's not enough for people to then be able know for

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sure that they should be working with you because it's a

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good fit.

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And interestingly,

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as I said,

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when we dove down and I made them think deeper,

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each and every one had something that was way more specific

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about their business and unique to them and really truly separated

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them from the pack.

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Do you remember about a decade ago,

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customer service was the big key word.

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I mean everyone was talking about how proud and how strong

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and how supportive their service was to their customers and they

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were just words.

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They didn't mean anything.

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Everyone touted the fact that they had customer service when really

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it was bland.

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It didn't mean anything.

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You can tell people anything that you want.

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It's whether you actually follow through with the actions that really

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makes the impact.

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I heard once about this whole customer service conversation is don't

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even bother telling people about superior customer service that you supposedly

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have because no one's going to believe it.

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It's just too bland and you can say anything.

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All you can do to prove customer service is just do

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it and let other customers speak to it from their experiences.

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I got off on an aside there,

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but I think that was important to talk about because a

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lot of people will still say,

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Oh, we have the best customer service in the world.

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And quite honestly with the ribbon print company we do,

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but I don't even say that anywhere because it's gotta be

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the customers who are saying that not us.

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Anyway, like I said,

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I spun down a little bit of a rabbit hole there,

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but I thought it was important to say,

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but when we generalize our businesses,

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just like that customer service example,

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people are like,

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okay, yeah,

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so she has a jewelry business or she makes scarves and

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she sells them and um,

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Oh she makes beautiful wedding cakes or delicious chocolate.

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But it's still just very general.

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I want to share with you,

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and I'm not giving names,

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but they are real examples.

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I want to share with you where we got to with

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a couple of clients through the speed coaching so that they

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really could identify the why behind their business and how they're

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different. And then I'm going to share with you how you

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can identify this for yourself as well.

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So let's take two of these people that I'm talking about

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who were custom gift basket designers certified in the industry.

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Mind you.

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So very well versed,

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very established,

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very grounded in their businesses.

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When we really started diving down and I started asking them,

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well, who are your customers?

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What are your products?

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Some interesting things revealed themselves.

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One woman creates special programs that are driven into industry specific

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needs. So for example,

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she focuses on industries such as Realty assisted living,

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facilities, fund raising events.

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Okay, so very specific.

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And she's created unique programs including timing,

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product, different types of needs that a gift basket could serve

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that are different than for each of these different industry types.

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So her point of differentiation,

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what makes her business unique is not that she just does

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custom gift baskets,

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but she's created industry specific programs that help a client walk

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through all the nuances of doing business gifting that are specific

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to their industry.

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She has made herself knowledgeable either through past experience or learning

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over time to be able to create unique programs that address

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the needs of individual industries.

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So that's what she can talk about when she is at

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a networking meeting and she gets up to do her introduction

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message. She can say that she is a gift basket designer

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who specializes in industry specific programs to address the unique needs,

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timeframes and results that specific industries are looking for.

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Some of the industries that she specializes in,

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our assisted living facilities,

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realtors and fundraising events.

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How much different is that than getting up and saying that

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you can customize baskets to meet the recipient's needs?

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Now, someone who has listened to what she said through that

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introduction message.

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By the way,

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those of you who have not been following me for a

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while, I totally renamed that elevator speech to an introduction message.

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So that's what I'm referencing when I'm talking here.

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Someone who's in the room who's listening to that may not

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be part of any of these three industries,

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but they might have friends who are realtors.

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They might have someone in the school system who's putting on

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a fundraising event and could really use the expertise of somebody

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who has a specialized program.

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Do you see the difference here?

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Let me share with you another woman.

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What she enjoys doing with her business is creating smaller,

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less expensive gifts that also include a very unique message,

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a very creative message that applies to certain events so her

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smaller gifts can be used for leave behinds.

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Thank you.

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Use referral reminders,

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employee recognition,

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et cetera.

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The value of what she offers is that somebody who's using

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her services,

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again, that's still under the gift basket umbrella,

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but they might be wanting to out to hundreds of people.

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Maybe it's people who have purchased a house from them in

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the past.

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Maybe it's a company who wants to do employee appreciation for

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birthdays, recognizing specific departments with a job well done or recognizing

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time with a company one year,

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five year,

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10 year anniversaries.

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It's also a great option for people who want to stay

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top of mind so that they can get referrals in the

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future. Multiple gifts,

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lower cost.

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Are you seeing here within a similar business how each company

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can claim a personality of its own.

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This can be based on past experience that you've had.

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Maybe you're starting a business but you used to be in

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the medical field so you know a lot about how hospitals

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or doctor's offices work.

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Perhaps that could apply to something that you're doing in your

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business today and even if you still have a full time

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job and you're looking at starting a business on the side,

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what types of things are you learning?

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Are you exposed to right now in the job that you

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currently have that you can take and then apply to a

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business that makes you unique?

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You know,

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I get,

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and I'm definitely not an advocate,

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you know,

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some people say,

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Oh, you're going to start a business.

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Just quit your full time job and just go all in.

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I'm not so sure that that's a wise approach and I

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really don't recommend that to anybody.

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I recommend starting slow testing your product,

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making sure that you can make money at it,

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and then if it makes sense for you to substitute your

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full time job with your new business,

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that's awesome.

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But meanwhile you should like what you're doing during the day

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if you can and if you're in a position that you

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really, really are trying to get away from but you need

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it for insurance,

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for income,

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et cetera,

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look to that position and that business and see what types

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of things while you're still contributing and doing everything you need

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to do for the money that you're being paid.

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But what types of things can you be learning there that

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you could then take to your own business?

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Perhaps there is an event that's coming up and you can

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volunteer for being on a committee because you know being on

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that committee is going to give you contacts or new skills

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or new experience that you'll be able to use later.

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Things like this,

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either that you can get into now or that you've already

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done. So kind of thing back in your history and your

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experience to date are clues of how you can enhance and

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separate what you do and what your industry is and how

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you can make yourself unique from anybody else.

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And as you're thinking about this,

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I want you to think about it over and above the

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features of your product.

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So you might make extra large cupcakes or you might make

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jewelry that contains handmade beads,

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for example.

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What is the benefit to the customer and the value of

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these things that are features of your product.

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So for an extra big cupcake,

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they're good enough to share with a friend,

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giving you an excuse to spend more time together and share

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and create memories with each other.

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So she's not just making extra large cupcakes,

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she's giving a reason and an opportunity to be with your

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friends and take your friendship to another level,

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or just provide another really valuable experience around friendship.

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So sharing these extra large cupcakes equals the importance and the

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value of a friendship product,

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emotional result.

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Get it other ways to create emotional results.

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If you have incorporated within your jewelry line materials for sensitive

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skin. Now people who have never been able to wear earrings

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or necklaces because they're irritating,

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can now glam themselves up and feel beautiful wearing jewelry once

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again, or perhaps if you're a Baker.

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So many people now have dietary issues,

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right? Whether it's gluten or nuts or all different types of

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things. If your cookies serve these dietary restraints,

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then once again,

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participants at a party don't feel like they can't participate in

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the full celebration of the event that includes the cake or

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the cookies or whatever desserts are offered as part of the

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celebration. Another way to add an emotional layer to your business

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is through causes,

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so it could be that because of your backstory,

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the reason why you've gotten into the business in the first

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place, maybe a portion of your profit goes to a certain

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cause or perhaps you've started a business because you had an

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experience that you want to move forward.

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As an illustration of that,

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I'd like to share with you my friend Stacy Horowitz,

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who has a business called shopping for a change.

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And her business formed out of going to Peru and seeing

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the beautiful products that the Peruvian women created,

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but at the same end scene,

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they're harsh living conditions and the poverty that that they're experiencing.

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And she came back and she felt that she wanted to

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empower women,

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not just in Peru,

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but all over the world.

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These artisans who have such a great craft,

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we can help empower them as women to be able to

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make their lives better.

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So this is a story behind her business that can add

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an emotional layer on the other thing that's about her business.

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I had to be totally promoting Stacy or anything,

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but a portion of the proceeds of her products then go

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to a project that she has identified every year to help

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a community in some third world country,

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but also a percentage goes to a charity or a nonprofit

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of your choice.

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So people can feel really good about buying products from her.

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And also it's a great story to move forward.

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Cupcakes, presenting the idea of spending time with friends,

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jewelry, allowing somebody who wasn't able to wear necklaces,

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earrings once again,

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accessorize themselves and feel beautiful or purchasing a product that allows

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you to pay it forward and contribute to an important cause.

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Like how I told the story to you here,

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when someone is referencing a business that has some type of

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a feeling behind it,

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right? Like all the feelings that I just described,

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these are all stories that are over and above the product

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you create,

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which allows people to talk more about you.

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It's not just that Stacey has jewelry and purses and scarves

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that are beautiful and for sale.

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It's the additional story of what it does,

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the higher level meaning behind the business.

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So I go back to you think about this.

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What is the other layer on top of the product that

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you have that you could be talking about?

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You probably have it,

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you're just not identifying it for the value and the importance

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that it has to your business.

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Once you know this why and are very clear on this

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why. Then you start speaking about it,

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telling people about it,

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incorporating it into your brand speak because remember you have to

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tell people they aren't naturally going to come to this by

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themselves. This is the second why behind your business.

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It's really hard,

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if not impossible for somebody who doesn't know you or your

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company to understand what it is that makes you different and

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why they should absolutely be coming to you versus anybody else.

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This is the value and the importance of the why behind

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your business.

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I bet you never thought about a three letter word being

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so important.

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This whole concept of why it was brought to light in

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a really significant way through Simon Sinek,

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someone who I admire tremendously and follow it started with a

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YouTube video he did called how great leaders inspire action and

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that led to a book called start with why.

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If you've never read that book,

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I highly suggest that you do.

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Simon works with leaders of big corporations to make sure that

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everyone's marching in the same direction,

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inspiring people for production and obviously results building teams and having

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a common message for a larger business.

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I've taken his training to heart and I now apply it

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to smaller businesses,

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businesses like ours and to our specific industries for gifters,

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bakers, crafters and makers.

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So there you have it.

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Discovering the two why's behind your business,

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the one why that's very personal,

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why you started the business,

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what will help you want to have identified it to motivate

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you and drive you forward when things get challenging.

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And the second why the outfacing,

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why, what is the reason why a customer would want to

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buy your product from you specifically?

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What is it that they receive in return both by way

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of the tangibleness of your product and the emotion and the

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feeling behind what your product delivers.

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Once you've defined these for yourself,

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you've added a level of strength to your business that quite

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honestly not many businesses get to.

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And then you relay it out to the world so other

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people understand and recognize your business for all its greatness.

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To dare I say you will be unstoppable.

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As I close out this episode,

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I am so excited.

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The timing was such that I have a special announcement for

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you. I have just finished updating and rebranding my membership program,

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which is called maker's MBA.

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This has been one of my passions.

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You know when you talk about your wise,

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this has culminated into the why of why I do the

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podcast, why I serve gifters,

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bakers, crafters and makers,

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so I'm thrilled to present it to you for the first

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time right here and I would be honored if you checked

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it out.

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Let's roll the outro.

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This episode is all wrapped up,

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but your gift biz journey continues.

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It's your time to experience the pride and satisfaction of turning

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your passion into a profitable business.

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Join the makers MBA program and access training modules,

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downloadable worksheets,

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and weekly live and recorded Q and a sessions addressing your

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specific challenges.

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You also have the opportunity to connect with a community of

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creators. Just like you.

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Head over to gift biz,

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unwrapped.com/ maker's MBA to join today and until next time,