Do I have a $1 Million business plan?

[shaniboek]

Is my idea a $1M business or BS? Give it to me straight.

Almost finished reading Alex Hermozi’s $100 Million offers and im feeling pumped af. To summarize in one sentence for those that haven’t read it, he basically says to “give them an offer they can’t refuse”. That can include giving some sort of guarantee + offer an insane amount of value. Because of this you can charge really high prices, much higher than competitors.

I’ve been brainstorming and came up a B2C idea (based on the examples he gave and other mediums):

• Offer a 6 week workout plan tailored for busy professionals that “don’t have time” to go to the gym. This also includes a complete diet list and a one-one coaching call with a trainer one session a week. The guarantee is that they reach their goals or they get their money back plus their next month free (under the contingency that they attend all sessions, compliant, and follow the diet and workout plan). This would likely be priced around $400-900

What do you think? I’ve already started implementing the business, but I had some concerns. On paper if you were to see this offer pop up, would you click yes and sign up? If not, why? Is there anything you would adjust or add to make it a killer offer you can’t say no to? Is this niche (busy professionals who want to get fit) one that you say you find in a lot of people you know?

Thank you in advance.

 

[jadegb]

@shaniboek Dime a dozen... Clearly didn't do a market analysis.

 

[shaniboek]

@jadegb But with a result driven plan, instead of a profit driven plan, that puts the client first AND that includes a guarantee? Second to none from what I found.

 

[jadegb]

@shaniboek People are telling you no, my guy. You're refuting everyone with "but I have a guarantee"... The only guarantee is this is not a million dollar idea.

 

[kcir]

@jadegb Tommy:
Let's think about this for a sec, Ted, why do they put a guarantee on a box? Hmm, very interesting.

Ted:
I'm listening.

Tommy:
Here's how I see it. A guy puts a guarantee on the box 'cause he wants you to fell all warm and toasty inside.

Ted:
Yeah, makes a man feel good.

Tommy:
'Course it does. Ya think if you leave that box under your pillow at night, the Guarantee Fairy might come by and leave a quarter.

Ted:
What's your point?

Tommy:
The point is, how do you know the Guarantee Fairy isn't a crazy glue sniffer? "Building model airplanes" says the little fairy, but we're not buying it. Next thing you know, there's money missing off the dresser and your daughter's knocked up, I seen it a hundred times.

Ted:
But why do they put a guarantee on the box then?

Tommy:
Because they know all they solda ya was a guaranteed piece of sh*t. That's all it is. Hey, if you want me to take a dump in a box and mark it guaranteed, I will. I got spare time. But for right now, for your sake, for your daughter's sake, ya might wanna think about buying a quality item from me.

Ted:
Hmm. Okay, I'll buy from you.

Tommy:
Well I... What?

 

[shaniboek]

@kcir Lmaooo how did I miss this comment

 

[ricesheepy]

@shaniboek This is a pretty saturated market. Do a search online for workout plans for busy professionals and see how many businesses pop up. That will give you a good idea of what others are doing.

 

[shaniboek]

@ricesheepy As far as i’m aware, None are offering guarantees

 

[stdamage]

@shaniboek I don’t see how you can offer any sort of guarantee with something like this? Your not gonna know for sure if they are even following their plan 100% and each person’s body is different so how could you guarantee that they will for sure reach their goals? Also what happens the on the 2nd free month if they again don’t reach their goals? Do they get another free month?

 

[shaniboek]

@stdamage Good point. I’ll be honest and say that you’re right and there are a lot of things I haven’t thought through, which is why I turned to reddit to help me identify weaknesses.

The idea with a guarantee is that you give them a certain amount of time to reach a specific goal- weight loss or hypertrophy- and monitor their progress weekly. It isn’t some arbitrary number on their scale, but more like a percentage of improvement relative to when they started. I think there’s a baseline general percentage that anyone is likely to experience following diet/training programs (I could be dead wrong)

 

[stdamage]

@shaniboek Yea I’m not an expert on this subject at all and I’m not trying to deter you or belittle your idea in anyway. These are just a few questions that came to mind for me. I think there are a lot of details you need to get figured out before you go all in with this. I could be dead wrong but I’m having a hard time seeing how this guarantee thing would actually work out. I wish you luck though and hope your able to make it all work

 

[francis2]

@shaniboek My buddy is currently offering practically the same thing except it comes with a free yearly gym membership as well. During his offer he came across two other similar offers in his city. Alex Hormozi is very popular, especially in the fitness niche. Your climbing an uphill battle.

Don’t focus on million dollars. Start local and focus on the first $3000 a month.

 

[joyseeker16]

@shaniboek Sorry, but workouts geared to the "busy professional" are everywhere.

Might as well become a "life coach".

 

[stevejames]

@joyseeker16 Moreover to above, you’re looking very surface level and assuming the market isn’t covered in this zone. There’s a lot more than just the typical Instagram ads. For reference, I know KinoBody offers a private, tailored plan specifically for business owners within Toronto that you actively work with him and his team, in person. The neighbourhood of 5-10k but you’re actively texting with them, going to dinners, etc.

 

[layk]

@shaniboek You need to charge $3K-$5K. Make it three personal trainer sessions a week, plus bring the food ingredients pre-chopped with seasoning and sauces, or no one will follow your food plan.

No one will pay for what you are offering, which is basically free online.

 

[shaniboek]

@layk One of the reasons I came up with this was because back when I used to try to go to the gym I would always get discouraged because I would never know what to actually do there. On top of that I’d spend three hours and feel like I’m wasting time out of my busy schedule to play with dumbells. I’m an intelligent man I know to look up YouTube videos and I know what tutorial hell for the gym. Feels like this would in theory solve that problem. That was my intention with this.

Thank you for your feedback.

 

[andrewl]

@shaniboek

I used to try to go to the gym I would always get discouraged because I would never know what to actually do there.

The problem is that your service is more expensive than the personal trainer at my gym who will also be there looking at my technique. You should map out your closest competition be they PTs or apps and see how you can make a better service.

 

[layk]

@shaniboek

tailored for busy professionals

Exactly. But you are offering a premium product/service at people who have more money than time. Charge accordingly, don't compete on price.

 

[firewraith]

@shaniboek Intelligence isn’t knowing. It’s EXECUTING. The west is filled with “intelligent” people who have analysis paralysis. They read hundreds of books and watch hundreds of courses but struggle to EXECUTE. Its one of the important variables that impact objectives.
Mastery of one’s nervous system, to move the needle is imperative.

 

[shieed1993]

@shaniboek If you potentially have a $1 million business plan, never post it on the internet.

Luckily for you, this is not one of those.