Have you heard about this “Flywheel” concept before?
It can be one of the most powerful principles you can ever learn when it comes to scaling up your knowledge business. Listen to the full podcast.
It’s very simple. Are you able to give a better experience and better results to your customers when more of them come into your world?
If your answer is YES, then you have a flywheel in motion.
There are 4 steps to a Digital Coach flywheel:
- Customer Attraction
- Customer Experience
- Customer Results
- Brand Building
You can watch this video on YouTube, where I visually explain this concept.
In this podcast, I get into every single detail of the Digital Coach Flywheel model, in comparison with the Amazon Flywheel model.
And by the time you are done with this episode, you will have absolute clarity and conviction to scale up your digital coaching business.
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25 replies to "How I Attracted 35000+ Students Using Amazon’s Flywheel Concept"
You’re helping every time you put out another podcast. Thank you!
Thanks Mike!
Sidz I heard your Podcast about Flywheel.
Simply convincing.
Feels like we are talking face to face personally.
I am a Silver member.
Stuck up in some personal commitments.
But I will be following you soon Sir.
Thanks Hemant! Stay connected
#ILHsociety #ILHdeeplearners
Amazing insights for flywheel to work . 1. Blue ocean strategy 2. Ecosystem building .3. Digital tribe 4. Microniches give you riches .5.creativity and uniqueness of your representation is the differentiator
Awesome! Thanks Sankar
Super structure
The take away is
Building ecosystem independent of promoters is important for any model to succeed and sustain for longer
Thanks Tom!
It is a nice podcast giving practical solutions. Being an expert in offering solutions to customers, I could resonate it. Keep it up.
Great concept and clarity in explanation sidz ! Very useful content !
Very useful content and thank you for sharing information !
Build a Ecosystem
Build a digital community who will buy all products of value.
Must have unique content and outstanding presentation skills
Riches are in micro niches.
Another mind blowing concept explained so nicely . Thank you.
Thanks Dr.Anita!
#ILH deep learner – The 4 steps are imperative for the Digital coach flywheel.
Also understood how Amazon implemented the Flywheel concept and more than that how Amazon and Apple are an Ecosystem.
We can make our Fly wheel work when we think in terms of Eco system.
Amazing podcast.
Brilliant points Quinten!
The word is momentum! Gaining momentum in our business is so much important for the exponential growth & that’s what is defined by the concept of ‘flywheel’.
Like Jim Collins developed this concept of flywheel in his book called “Good to Great”, similarly, we can apply this very concept in our business to take our business growth from just being good to become great.
Why I’m saying this is because of the fact that a customer is the fulcrum around which the entire business growth depends.
And the concept of ‘Flywheel’ in knowledge business also revolves around customer-
1. Providing quality courses & content to customers;
2. Creating a community for customers to engage & gain to max. possible level, providing a system of accountability, support system & gamification;
3. Demonstrated results via success stories, reviews on trustpilot, etc.; and
4. Building a mission- focussed brand.
All this is to ensure a greater customer experience.
So, to sum up, aim for brand & tribe building while incorporating your own uniqueness in a particular micro-niche you’re operating in is the key to implement the FLYWHEEL concept within your business.
#ilhfamily
#ilhdeeplearner
Amazing Neha!! It’s a superb perspective.
#ILH Family #ILH Deep Learner
Flywheel concept from Amazon and how to use it in knowledge business
The idea to build Ecosystem and how to carry it and totally Implement.
Awesome
It’s truly a deep learning.
In this Podcast, Sidz covers how Amazon’s Flywheel method has been critical to its success and goes in-depth into how you can apply it in your knowledge business to build more momentum.
This concept was developed in the book ‘Good to Great’ by Jim Collins. At the core of this is – exponential growth is caused if you put your energy into any activity especially better customer experience to have a Flywheel effect.
Amazon started with selling books and then added more sellers and products into its platform giving better customer experience and lower prices. Sidz has been able to have 10,000 paid customers and 35,000 students and this has happened in 2 years by implementing this model.
The Flywheel Model has 4 key elements:
1. Customer Attraction (build resonance through social media content and webinars)
2. Customer Experience (High-Class course content, Community Creation, Weekly Coaching Calls, Monthly Hackathons, Awards and Recognition, Accountability Partner System, Gamification – Hall of Fame Interviews, Freedom Facilitator, Crore Club)
3. Customer Results (Document it through Hall of Fame Interviews, Reviews on Trust Pilot – genuine reviews from students who have completed the courses)
4. Brand Building – Initially Sidz says he was a nobody but as he worked on his brand suddenly it has created a large-scale impact. Now he focuses on building the ‘Internet Lifestyle Hub’ Brand to make it a larger movement that will last well beyond him.
If your business is not doing well, you need to see which part of the Flywheel you need to fix. In addition, to make it really work you need to focus on these 4 areas as well:
1. Build an Ecosystem
2. Build a Tribe
3. Be unique
4. Get into a Microniche
#ilhfamily #ilhdeeplearner
After hearing Sid’s flywheel model, I could look at it in a different perspective.
NEED & FEED Approach.
1. NEED of the customer is to know whether their problem can be solved.
So, FEED them by Attracting customers through;
a. Podcast
b. Videos
c. Content Pieces
d. FB live
e. Webinars etc.
2. NEED of the customer is to know whether they will be fed consistently.
So, FEED them by giving a great customer experience/student experience by;
a. Developing high-quality world-class content/courses
b. Community aspects
c. Gamification, interaction,
3. The NEED of the customer is to know whether other’s problems are solved.
So, FEED them by demonstrating the results through;
a. Result oriented success stories
b. Reviews
4. The NEED of the customer is to know whether we are providing unique solution and trustable and to make sure we are not a copycat.
So, FEED them through;
a. Eco system
b. Digital tribe
c. Unique representation
d. Momentum in flywheel by going micro niche
What is a Flywheel in simple words?
There are wheels and then there are flywheels. Now both need some kind of external force to make them roll but the flywheel is designed to use the external force just to begin rolling and then use momentum, angular velocity, mass rotation in such a way that it becomes SELF SUFFICIENT (well not 100% but better than just a wheel)
How can we use Flywheel Concept in our Enterprise / Business? (Just like Amazon does)
STEP1: START THE FLYWHEEL (ATTRACTING LEADS & CONVERTING THEM TO PAID CUSTOMERS)
– publish content to attract customers consistently. The numbers will grow steadily. Practice ‘delayed gratitude’. Do not spend money on advertisements unnecessarily – focusing only on #s of likes, views, comments, # of customers in your system is a bad game. Focusing on “what people can gain from my knowledge, from my experience?”, “how can I create life transforming content?” is a good game even if it’s just 5-10 customers in your system.
STEP2: STORE THE ROTATION OF MASS TO PUSH THE FLYWHEEL ON ITS OWN (DELIGHTING CUSTOMERS BY BUILDING AMAZING DIGITAL PLATFORM)
– boost your customer experience. Build digital communities (such as for your digital school). Gamify. Give rewards and recognize the efforts. Allow the old customers to help the new ones. Most of all create world class quality products. If you do not put your best effort in your products then none of customers will put their best money on your product- As simple as that.
STEP3: LET THE MOMENTUM OF THE FLYWHEEL TAKE A FULL ROTATION (DOCUMENT EVERY SINGLE WIN, CUSTOMER’S EXPERIENCE AND MAKE IT PUBLIC)
– demonstrate results. Document even the slightest positive experience of customers in your community through feedback in social media or platforms like trustpilot. Request them to shoot a short video of appreciation for your system for potential leads to watch. Waiting for a sea-change is not a good game, small changes also matters
STEP4: GIVE A BOOST OF EXTERNAL FORCE TO THE FLYWHEEL TO MAKE IT ROLL FASTER (SCALE UP YOUR BUSINESS BY BUILDING A BRAND)
– build your brand & grow your community: make sure you are adapting methods to scale your services. Now is the right time to spend money on paid promotions. Now is the time to focus on numbers since you have taken care of the quality and shown results for at least 100 customers. Now is the time move from your personal name to a brand name. Now is the time to talk more about your mission and vision then ever before in public. Now is the time to confidently show the world that you are doing all this to genuinely make this world a better place.
You will be amazed to see how this FLYWHEEL is so much efficient than an old school “barter trading style” WHEEL of doing Business!!
I am super glad to learn in-depth concepts about this and so many essentials of digital coaching system from Sidz in his super awesome #ilhfamily and also proud to be a part of elite #ilhdeeplearner community!!
Thank you so much Siddharth Rajsekar, ,my #digitalbuddha 🙂
It superb to know new concept Flywheel.
Flywheel works because the elements are held by the centre. You can see there are spokes connecting the centre axel with the rim of the wheel. I compare each spoke a value to the member and rim is the community.
Mentorship qualities are the forces holding the community members on the community or tribe.
Bring this to digital business. Demonstrating value in the products, which automatically brings more people (traffic)
And networking of the members is the rim.
This the model I have understood.
In this podcast and video my takeaway are as follows
The word is momentum! Gaining momentum in our business is also so important for the experimental growth & that’s what is defined by the flywheel
Like Jim Collins developed this concept of flywheel in his book called ‘ god is great’ similarly, we can apply this very concept in our business to take our business growth from just being good to become great and the concept of flywheel in knowledge business also resolve around customer
These are the four steps to a digital coach flywheel
1. Customer attraction
– Blue occan strategy
– Providing quality course & content
to customer
– Build resources through social
Media
– Podcast, video, content pieces,
Facebook live, Webinar
2. Customer experience
– Ecosystem building
– Creating a community for customer
to engage and gain to maximum
Possible manner.
– Support system and famification
– High class course content.
– Community creation and aspects
– Weekly coaching calls
– Awards and recoganization
– Accountability partner
– System
– Result oriented success stories
3. Customer results
– Digital tribe
– Demonstrated results via result
oriented success stories reviews on
Trustpiolets
– Genuine review from students who
have completed the course
4. Brand building
– Building a Mission oriented focus
Brand
– Creatively and uniqueness of your
representation is differenter.
– Focus on brand building the
internet lifestyle Hub brand to make
it a larger movement that will last.
well beyond him
– Micro niches gives you riches