Skip to main content

Phase 1: Business Assessment

Learn how Phase 1 establishes your business baseline and powers the rest of your Profit Academy experience.

C
Written by Cannon Phelps

Phase 1: Business Assessment

Phase 1 is the foundation of the entire onboarding course.

Before Profit Academy can help you grow your business, it needs to understand where you are today — your goals, your business model, your financials, and your mindset.

The more accurately you complete this phase, the more valuable the rest of the course becomes.


Modules in this phase

  1. Welcome

  2. Dreams

  3. Business Info

  4. Overview

  5. Financials

  6. FOPO


Welcome

The Welcome module introduces the FRAP framework and explains how the course works.

You’ll learn why increasing revenue from existing customers is often more profitable than constantly chasing new customers.


Dreams

This module helps you define what success actually looks like for your business and your life.

You’ll think about:

  • Income goals

  • Lifestyle goals

  • Business growth goals

  • Long-term vision

These answers become your reference point throughout the course.


Business Info

This module collects the core details about your business, including:

  • Industry

  • Services

  • Location

  • Business size

  • Customer type

This information is also saved to your DaVinci AI context, allowing the AI tools throughout Profit Academy to generate personalized recommendations and campaigns.

Tip

Be as specific as possible. Better input leads to better AI output.


Overview

The Overview module introduces the four FRAP revenue levers:

  • Price

  • Average Ticket

  • Referrals

  • Frequency

You’ll see how small improvements across all four areas can compound into significant revenue growth.


Financials

This is one of the most important modules in the course.

You’ll enter:

  • Annual revenue

  • Customer count

  • Average ticket

  • Customer frequency

These numbers become the baseline for your profit calculations throughout the program.

Tips for accurate results

  • Use real data from accounting or POS software if possible

  • Avoid placeholder numbers

  • Use estimates if exact figures aren’t available

  • Revisit the module later if your numbers improve


FOPO

FOPO stands for Fear Of People's Opinions.

This mindset module addresses one of the biggest hidden growth barriers for business owners:

  • Fear of raising prices

  • Fear of asking for referrals

  • Fear of selling confidently

  • Fear of customer reactions

The goal is to help you identify where FOPO may be influencing your decisions — and begin moving past it.


What happens after Phase 1

Once you complete Phase 1, the course moves into the four revenue-lever phases:

  • Price

  • Average Ticket

  • Referrals

  • Frequency

Each phase teaches practical strategies you can apply directly to your business.

Did this answer your question?