WO RKBO O K

FINDING BUSINESS CLARITY | DAY 1 Taking a Personal Inventory 1

 DAY 1
Taking a Personal Inventory
WORKSHEET

PART 1
THE LIFE YOU ENVISION.
After working through this personal inventory, you will have a good idea about how you’re going to structure your
business, what your primary role will be, whether or not you need a partner, what values will inform your mission,
where and how much you want to work, and much more.

RANK EACH OF THESE IN ORDER OF IMPORTANCE TO YOU

5 Making money

3 Having impact

1 Aligning your work with your passion

2 Freedom to work from home, set your own hours, travel

4 Work-life balance

WHAT ARE YOUR PASSIONS AND PERSONAL VIRTUES:

What are your passions — the things you love to do? List 3 things.
My top three passions are being creative, maintaining a loving and healthy relationship,
and personal development.

What do you most want to change about the world? List 3 things.
I want people to feel empowered to start businesses that have impact. I also want to see more empathy and
connection. Impact is a lifelong pursuit that brings meaning to our lives beyond the personal. It’s others-focused,
which is important for us all to cultivate. Impact applies to everything from diversity to the environment.

Where do your passions and what you want to change in the world intersect?
Thanks to my own personal development, both in my personal life and through my businesses, I’m able to
make an impact through education that is highly creative and unique. Having a loving relationship gives me the
foundation and security to pursue these endeavors.

FINDING BUSINESS CLARITY | DAY 1 Taking a Personal Inventory 2

 What are moral virtues that are really important to you and help define your sense of identity?
The first for me is honesty. The second is empathy.

UNDERSTANDING COMMITMENT AND RISK:

In general, what is your risk tolerance on a scale of 1-10? (1 = Very Low and 10 = Very High)

1 2 3 4 5 6 7 8 9 10
I’m a freak.

Do you see your business as a full-time commitment or a side hustle? And is this influenced by
how much money you have or need to make?
I see my business as a full-time commitment, but no more than 30 hours per week. That is the new full
time! It’s influenced by what is necessary for me to do versus what I delegate to my team, because as a
leader there will always be things that only I can do.

Do you have a little nest egg? Or do you need your business to be profitable right away in order
to live?
I have a nest egg, but not nearly as much money as everyone seems to think I do. I am investing in putting
my upcoming course on entrepreneurship, Business Class, together over a three-month period. Pretty
aggressive, but any longer would be much more expensive. I DO need the business to be profitable as
soon as it launches, and I hope it is! It’s a risk, but one I’m excited about.

What are the reasons, if any, that would prohibit you from starting your own business? Money?
Time? Fear of failure or judgment?
I fear that I’ll be publicly criticized, which I am for pretty much everything I do. The good thing is that there
are always more people who are excited about what I do than people who want to tear me down, but I
know I’ll tiptoe into landmines as most business owners do.

As I discussed prior, work/life balance is important to me. If I’m lucky enough for my online courses to
be successful, or if any of us are lucky enough for our businesses to really take off, they become hungry
monsters that want more and more. It’s my job to make sure that I create boundaries around my business
and learn to say NO even if that means making less money.

FINDING BUSINESS CLARITY | DAY 1 Taking a Personal Inventory 3

 PART 2
ASSESSING YOUR SKILLS.
Getting clear on your strengths and weaknesses can really help you understand what role to play in your business.
For example, if you’re only creative and not interested or great with money, perhaps you will want a partner or first
employee with a strong financial background.

GETTING CLEAR ON WHAT YOU ARE BEST AT

What are you best at? List your top 3.

1. Manifestation

2. Marketing

3. Copywriting

What do your friends, family and colleagues think? List 3 (If you don’t know, ask them.)

1. Marketing

2. Copywriting

3. Idea generation

What is the crossover between these two lists?

Marketing and manifestation

Are you passionate about the things you’re good at?

YES / NO

FINDING BUSINESS CLARITY | DAY 1 Taking a Personal Inventory 4

 GETTING CLEAR ON WHAT YOU SUCK AT
What do you suck at? List your top 3.

1. Finance

2. Patience

3. Organization

What do your friends, family and colleagues think? List 3. (If you don’t know, ask them.)

1. Patience

2. Organization

3. Not getting distracted

What is the crossover between these 2 lists?

Patience, organization

On a scale from 1-10 rate the following (1 = Very Low and 10 = Very High):

9 I am creative.

7 I am good with people.

5 I am organized.

4 I am good with money.

8 I am comfortable with technology including social media and email.

FINDING BUSINESS CLARITY | DAY 1 Taking a Personal Inventory 5

 PART 3
WRITE YOUR CLARITY STATEMENT.
A clarity statement is like a compass. It sets the coordinates. If you keep referring to it, it will keep you sailing
in the right direction.

“My name is _______. My top 3 priorities for my life and business in order are __________,
__________, ___________. I am passionate about ________ and I feel I can make a positive
change in the world by _________. ________ (virtue #1) and __________ (virtue #2) are
both important to me and my business.

I am willing to take a _________ of risk and have ___________ ($) to try and do this.

My strengths are __________ and ___________. And, even though I could probably figure it
out, I could use some help with ___________. I ____do/do not____ want a business partner at
this time. ___________ would probably be my first hire.”

My name is Sophia Amoruso. My top 3 priorities for my life and business in order are aligning work with
my passions, freedom, and having impact. I am passionate about being creative, maintaining a loving and
healthy relationship, and my personal development and I feel I can make a positive change in the world by
empowering and educating people to start their own businesses. Honesty and empathy are both important
to me and my business.

I am willing to take a lot of risk and have some money to try and do this.

My strongest suit is marketing and manifesting. And, even though I could probably figure it out, I could use
some help with staying on track and organized. I do want a partner at this time. A digital operations manager
would probably be my first hire.

FINDING BUSINESS CLARITY | DAY 1 Taking a Personal Inventory 6

 DAY 2
Defining Your Product (or Service)
WORKSHEET

PART 1
YOUR PRODUCT: DEFINING WHAT YOU MAKE
Today’s work will help you concisely define the product you make, how and where it is used, and where customers can
buy it. In a world of noise, you need to cut through with a simple and clear description of your business.

AT THE VERY BASIC CORE, WHAT DOES YOUR BUSINESS DO?

Write a brief, concise description of your product (or service). Ideally, one sentence.
My company creates/offers [product name] which helps people [goal].
My company provides educational content and courses that help people start and grow
their small businesses.

How is it used? (For example, is it one time only? Recurring?)

The products are to be used individually, but can be bundled together.

Where is it used? (At home, in public, online?)

At home and online.

How is it sold? (Direct to consumer, wholesale, retail?)

(Note: How your product is sold may impact your tech & staffing plan down the line.)
My products are sold direct to consumers from my website.

FINDING BUSINESS CLARITY | DAY 2 Defining Your Product 7

 PART 2
THE COMPETITION: WHO ELSE IS DOING IT AND HOW?
Part of the process of defining your business is understanding the marketplace, where there is whitespace,
and how you are different. Even if you are just starting out, you likely have some kind of competitive
advantage or differentiation.

BRIEF COMPETITIVE ANALYSIS.

Make a list of other companies that make the same or similar products.

1. Masterclass

2. Business Schools

3. Skillshare

4. Udemy

5. Online business personalities (Brendon Burchard, Marie Forleo, etc)

What do they do well?

Create content for the masses

Create a broad array of courses on a variety of topics

What are their shortcomings?

Often generic

The courses are led by individuals, but the platforms are not.

Traditional business school is highly expensive.

How big are they? Are they selling to hundreds of people or millions?
They are selling to hundreds of thousands of people.

FINDING BUSINESS CLARITY | DAY 2 Defining Your Product 8

 What are their pricing strategies? Are they high-end or more affordable?
Some are high-end, some are affordable.

What kind of competitive advantages do they have?

(Warehouse location, economies of scale, partnerships, etc.)
Have raised venture capital, have large teams, are longstanding institutions, are accredited,
have production capabilities beyond what I do, and have network effects.

What is your differentiation? Make a list of what makes your business different and better
than your competitors. (Hints: Talent network? Marketing network? Technology? Business
model? Special product formulation or design?)
Business Class is rooted in my experience building businesses. I’ve bootstrapped and raised venture capital
and can relate to the micro-entrepreneur who wants to professionalize their business. Business Class fosters a
community beyond the course platform that benefits students in many different ways.

FINDING BUSINESS CLARITY | DAY 2 Defining Your Product 9

 PART 3
WRITE YOUR CLARITY STATEMENT.
Today’s clarity statement should help keep you focused, disciplined, and also give you a bit of an elevator pitch
for your business.

My company makes __________ (name of your product), a product that is designed to

____________ (core purpose of product). It is used _____________ (how) and __________
(where). People can buy it ___________ (where).

Other companies make ___________ (your product) including _____________ (your most
direct competitor). They are good at __________ but not good at ____________. Their
advantage(s) are ______________. My product is better because _____________ and my
competitive advantage is ______________.

My company, Business Class, makes online courses, a product that is designed to teach people how to create
scalable, sustainable businesses. It is used online and from the comfort of your own home. People can buy it
once a year on our website.

Other companies make online businesses courses including Masterclass. They are good at giving an overview
of how to get started but not good at really diving into the details. Their advantages are a large production
team and support staff. My product is better because of our community and my competitive advantage is my
14+ years of experience building exceptional brands across both digital and physical business models.

FINDING BUSINESS CLARITY | DAY 2 Defining Your Product 10

 DAY 3
Core Purpose & Mission
WORKSHEET

PART 1
DEFINING YOUR BUSINESS’ CORE PURPOSE & MISSION:
We start with getting clear on the problem your business addresses. Perhaps your product addresses a deep societal health
issue like anxiety. Being able to articulate the problem you are solving is not just important for you but ultimately for
your customer as well.

THE PROBLEM:
Write a brief, concise description of your product (or service). Ideally, one sentence. What problem are
you solving?
Many entrepreneurs have a great idea and are able to start a business, but lack the guidance and tools they
need to professionalize and grow their business.

Why is solving that problem important?

Entrepreneurship and freelancing are now the norm, not the exception. Digital tools exist for anyone with an
internet connection to start a business, yet access to education is scattered and often lacks credibility.

What is the nature and size of the problem? Spend some time researching key statistics & findings that
surround this problem.
Each month an average of 543,000 new businesses are started, but every year 1 in 12 businesses closes and
only 4 out of 100 businesses survive past the 10-year mark.

How does your business address the problem?

Business Class will help entrepreneurs who already have a clear idea for a business take the next step and
launch the biz—scrappily and with limited resources. They’ve probably taken Finding Business Clarity first, and
this is the next step, where they learn how to audit their idea, set up a business, put a strategy in place, market
to the right customers, and hire the right people to support them as they grow. This is where they get all the
tools they need to turn that creative studio or e-commerce brand into a profitable business.

FINDING BUSINESS CLARITY | DAY 3 Core Purpose & Mission 11

 PART 2
MISSION & VALUES:
A mission statement is a short statement of why an organization exists and what its overall goal is.
Research, list five companies that you respect, and write down their mission statements.

A mission statement is a short statement of why an organization exists, what its overall goal is.
Research and write down five companies that you respect and their mission statements. Here are
a few examples:

1. Patagonia: Build the best product, cause no unnecessary harm, use business to
inspire and implement solutions to the environmental crisis.

2. TED: Spread Ideas

3. Life is Good: To Spread the Power of Optimism

4. Whole Foods: To nourish people and the planet.

5. Nike: To bring inspiration and innovation to every athlete in the world. If you have a
body, you are an athlete.

MISSION STATEMENT TIPS:

1. Simplify: Try to communicate your mission in one sentence.

2. Specify: Your mission can NOT just be “to make the world a better place.”

3. Align your mission with your purpose: Try to make your mission and the purpose
of your business inextricably connected.

4. Align your mission with financial success: Try to make your mission in sync with
what represents financial success.

Remember the difference between your mission and your marketing tagline.

Nike Mission: To bring inspiration and innovation to every athlete in the world. If
you have a body, you are an athlete.

A Nike Marketing Tagline: Just Do It!

FINDING BUSINESS CLARITY | DAY 3 Core Purpose & Mission 12

 THE DIFFERENCE BETWEEN MISSION AND VALUES.
What other core principles do you want your company to stand for?

Patagonia’s Mission:
Build the best product, cause no unnecessary harm, use business to inspire and implement
solutions to the environmental crisis.

Patagonia’s Values:
Build the best product: Our criteria for the best product rests on function, repairability, and,
foremost, durability. Among the most direct ways we can limit ecological impacts is with
goods that last for generations or can be recycled so the materials in them remain in use.
Making the best product matters for saving the planet.

Cause no unnecessary harm: We know that our business activity—from lighting stores to
dyeing shirts—is part of the problem. We work steadily to change our business practices and
share what we’ve learned. But we recognize that this is not enough. We seek not only to do
less harm, but more good.

Use business to protect nature: The challenges we face as a society require leadership. Once
we identify a problem, we act. We embrace risk and act to protect and restore the stability,
integrity and beauty of the web of life.

Not bound by convention: Our success—and much of the fun—lies in developing new ways
to do things.

Write Your Mission Statement:

We build community by educating entrepreneurs to create sustainable, profitable businesses that
enrich their lives.

Write Your Values:

No fluff - We’re here to provide utility and motivation.
Keep it simple - While we may talk about complex topics, we break it down for everyone who is ready to
commit and learn.
Have personality - Business education doesn’t have to be stiff. We value design and have fun along the way.
Make an impact - We want to create measurable, positive outcomes for our students.
Write a Marketing Tag (or 2):
Buckle your seatbelt
Wheels up
Build a brand that can soar

FINDING BUSINESS CLARITY | DAY 3 Core Purpose & Mission 13

 DAY 4
Your Customer
WORKSHEET

PART 1
WHAT ARE YOUR CUSTOMER’S INTERESTS AND VIBE?
You can make the best product, price it well, create beautiful branding, and market it well, but if your customer does
not buy it, you have no business. Essentially, your customer runs your business. Today, we dive into identifying your
core customers as well as their interests and tastes. You can start to gather this data yourself through Google Analytics,
Instagram and Facebook analytics, or with direct surveys. Essentially, pull information or ask survey questions wherever
you’re interacting with people online.

WHO IS YOUR CUSTOMER?

Gender

Female Male Both

Age

18-24 25-34 35-44 45-54 55-->

Annual Household Income

Under $50,000 $50,000 – $100,000 $100,000 – 200,000 $200,000+

Location (+ Warm / Cold weather, Coastal, Whatever is most relevant)

U.S. International

Education

High School grad College grad Master’s Degree

Where do they hang out?

Online: Instagram Pinterest Facebook Snapchat Tik Tok

IRL: Gym Yoga Studio Bars Home

Other:________________________
coffee shops, co-working spaces

FINDING BUSINESS CLARITY | DAY 4 Your Customer 14

 PART 2
WHAT ARE YOUR CUSTOMER’S INTERESTS AND VIBE?
Understanding your audience is key in so many ways. It will impact your marketing copy and messaging,
pricing, and where you sell your product.

CORRELATED INTERESTS:
Make a list of interests your audience has.
Fashion, interiors, design, money, entrepreneurship, relationships, social media

Make a list of other products or services they use.

Boutique fitness classes
Only the essentials; what she really needs, but she’s willing to invest in the best

Make a list of other brands they like.

Glossier, Apple, Google, Whole Foods, SoulCycle, Nordstrom

Vibe: Circle the following words that best describe your core customer? Feel free to add
more at the bottom!

Heritage vs. Modern

Rural vs. Urban

Serious vs. Playful

Economic vs. Premium - but willing to invest in quality!

Bold vs. Subdued

Small batch vs. Mass Audience

Edgy vs. Conservative.

FINDING BUSINESS CLARITY | DAY 4 Your Customer 15

 PART 3
WRITE YOUR CLARITY STATEMENT.
You have identified your customer. You’ve gotten inside their brain, heart, and unique tastes. Today’s clarity statement
will synthesize your work into a concise summary.

My primary customer is ____________ (gender), ___________ (age), ____________ (income

level), lives ___________ (location) has a ___________ (educational degree) and hangs out
___________ (physical or digital environment).

OPTIONAL: My secondary customer is ____________ (gender), ___________ (age),

____________ (income level), lives ___________ (location), has a ___________ (educational
degree) and hangs out ___________ (physical or digital environment).

My core customer is interested in ____________ and he/she likes _____________.

My core customer’s tastes are (Copy list from exercise above): _________, __________,
_________, _________, __________, _________, _________,

Summary: After Day 4, you will have a holistic sense of your audience and the beginning of your brand development.
These are the building blocks for a deeper dive into marketing and visual identity.

My primary customer is in their early thirties, makes $75,000-$100,000/year, lives in a big city, has a
liberal arts degree and works in marketing, communications, retail or generally in a creative industry.
When they’re online they’re on Instagram, when they’re offline they’re working at a coworking space or a
coffee shop.

My core customer is interested in creating a scalable, sustainable business and likes clear, actionable
steps to take.

My core customer’s tastes are: urban, playful, bold, small batch, and edgy.

FINDING BUSINESS CLARITY | DAY 4 Your Customer 16

 DAY 5
Manifesting from the End
WORKSHEET

PART 1
MANIFESTATION: Answer these questions from your mind’s eye five
years in the future:
Once we have this vision clearly in our mind’s eye, day-to-day life gets much simpler. We know where we’re going.
The compass coordinates are set. We are simply fulfilling a vision.

WHAT DOES FINANCIAL SUCCESS LOOK LIKE?

How much does your business make in revenue each year?
$1,000,000

How much profit do you need?

60% or $600,000

How much does it cost to run the business?

$300,000

How much are you personally making?

$100,000

What resources are you able to devote to a philanthropic mission?

Donating 10% of proceeds to charities, as well as giving away 25 scholarships to Business Class each year.

What other financial metrics do you have?

No more than 15% of my sales should come from paid marketing.
Word of mouth is important to me.

HOW BIG IS YOUR BUSINESS?

How much product / service are you selling? 500 per year or 2,500 over 5 years

How many customers do you have? 500 per year or 2,500 over 5 years

To what degree have you accomplished your mission? 100%

FINDING BUSINESS CLARITY | DAY 5 Manifesting from the End 17

 PART 2
Today, we envision the future from a more operational perspective. Where is your business operating?
What is the range of products? Where are you in the mix?

WHERE IS IT?
Where do you want to headquarter your business?
At my home in Los Angeles with a small remote team.

Do you sell to multiple cities / countries?

Yes, internationally!

Do you need an office or studio, or will you work from home?

From home

WHAT IS THE RANGE OF PRODUCTS OR SERVICES?

Do you stick with one primary sku / product / service?
Primarily Business Class, with Finding Business Clarity and my ebooks as complementary businesses.

What is the full range after five years?

2 robust courses and 5 ebooks.

Will you have multiple categories of products?

Yes! Ebooks and online courses.

What is the roll-out vision for additional products over time?

I will roll out my second course in 2 years, with ebooks coming once every 6 months.

WHO ARE YOU IN THIS PICTURE?

What is your role in the company?
I will be the CEO

Will you have employees?

Yes, one Digital Operations manager and a few Customer Experience team members.

WHAT IS YOUR GOAL?

Do you want to sell the company after five years?
No, never

If you could, would you run it profitably forever?

Absolutely

FINDING BUSINESS CLARITY | DAY 5 Manifesting from the End 18

 PART 3
WRITE YOUR CLARITY STATEMENT.
This process is a balance of comfort with some positive discomfort. You want to use the experience to grow, to push
beyond your perceived limitations.

In 5 years, my business is generating ____________ (your primary financial metric). We

are a team of __________ (how many employees) based _________ (where). We have
___________ (number) of customers from ___________ (where are your customers based).
We make _______________ (product line). I am the ____________ (job title) in the company
and I make ___________ (salary). My goal is to ______________ (sell, grow, run) the company.

In 5 years, my business is generating $1 million. We are a team of 6 employees based all over the world.
We have 2,500 customers from past courses. We make online courses and other educational content. I am
the President/CEO in the company and I make $100,000. My goal is to have a sustainable business with
predictable revenue.

FINDING BUSINESS CLARITY | DAY 5 Manifesting from the End 19