— September 26, 2018
So, if you’re like most business owners or business people, you’re always on the lookout for new business, because business is the key to success, right? So, how do you learn the key to success? Well, KEY in my world stands for Knowledge Empowers You. The Secret KEY is this: the more you learn, the more you earn. That’s probably even one of the reasons why you listen to my podcast or read my blog — not only to learn from me, but to learn from my guest experts, right?
So, let’s learn the key to success. First and foremost, there are only three ways to grow your business:
- Sell more to the same customers.
- Sell more to new customers; in other words, find new customers and sell more stuff.
- Raise your prices.
Now, they all have their pluses and minuses and challenges. but the bottom line is taht if you can sell more, you make more. It’s pretty straightforward and simple, right?
Searching For or Attracting New Business
There are two different methodologies, and I talked about this in a past episode. So, you have hunters and you have gatherers. You could be the person that’s out there searching for business and you’re more of the hunter, constantly looking for new business, right? Then there are people who attract new clients; they’re more of the gatherer, they’re more of the expert, they’re more of the person that is sharing their knowledge in order to let people know that they know what they’re talking about and how to solve the issues that that particular client may have.
Gatherers also tend to focus a lot on how can they improve relationships with their current customers as well as attract new ones. Now, a lot of people spend a lot of time trying to learn tactics. What do I mean by tactics? Okay, if you’re on Facebook, if you run a business, you’re going to see ads, right, and a lot of these are people that are just talking heads saying, “Hey, let me tell you about this great thing that we’re doing blah, blah, blah, blah blah.” Facebook Live is huge, and so that’s a tactic. Getting on there and interrupting people with a live video — but the problem is that the more talking heads that are on there, the less people pay attention to it. So, you’ve got to come up with something that’s a little bit more compelling.
Stuff like Instagram, You Tube, buying ads — those are all tactics. Those are out there hunting for people and looking for new clients when really you can do one of two things. You can attract people with your knowledge, or you can spark somebody’s interest with an ad. Now, what a lot of companies try to do is get you to buy visibility. Buying visibility is advertising. It’s Google, it’s Yelp, it’s Howzz if you’re in the contractor market. It’s basically buying traffic.
Is It Measurable?
Now, the key question is this: Is buying that traffic giving you measurable results? I asked one of my coaching clients, “How is Howzz working for you?” Oh, I get tons of calls. Then I asked the real question: “Out of those calls, what percentage of them are your perfect customers who have a budget and who are ready to move?” And he said maybe 10-20%. So yeah, by buying traffic, you’re going to get 100%, but 80% of them are tire kickers. They’re shopping at Walmart. They’re looking for the best price. They’re looking for something for less. They’re not looking for the quality or the service that you provide.
So, if you spend a lot of time and energy in that, you’re going to spend a lot of time and energy answering phone calls that won’t end up being of value to you and your business, right? So you want to find something that gives you measurable success. One of the things I say a lot is, is that 98.6% of all statistics are made up to validate a theory and that is to benefit the statistician.
Somebody could read a statistic and say, “Hey, check this out, you’ve got so and so!!” or it could go the other way and they could say, “Oh man, this sucks, look at that, you only got this.” They can pick and choose how it works and 67.3% of those statistics are made up on the spot and people are looking at them, interpreting them, and trying to get you to believe in their belief system.
So, that’s what a lot of measurability ends up being like, especially when it comes to Google and Yelp and Houzz and all those things. We can get you in front of thousands of people that you never saw before, but of those thousands of people, are they your perfect customers? Are they people who are going to understand the value that you bring to the table? That’s the key question: Are they willing to pay you what you’re worth?
Business Is Simple
Business, if you break it down, is super, super simple. Here’s all you gotta do. You spend one dollar and you make three, and now you have a profitable business. Now, you’ve probably heard people say, spend one make two, right? But in order to be successful, the key to success is that knowledge empowers you. That means you have to spend some time learning. You have to spend some time understanding and executing. So one of those dollars has to go back to you for your time, for your investment in yourself. So the key is to spend money to make money, but some of that money has to be spent on educating yourself, on making yourself smarter, on understanding what’s working. That’s one of the cornerstones that I try to teach my clients in my coaching business.
Do you have a clear brand for your business? Is your message super clear, so that somebody can understand it? Can you broadcast it in a way that is going to get people to understand the value that you bring to the table? A brand message is relatively straightforward and it has three components. Number one, who do you serve? Is it homeowners? Is it renters? What is it? Number two, what do you they need? Not what they want, but what do they need. The third part of your brand is, does your solution work and why is it better than everybody else’s?
So, let me say that again.
- Who do you serve?
- What is their need? and
- Why is your solution better?
If your brand is solid, you can repeat that in a lot of different ways and make sure that’s upfront in everything that you do. That’s going to pre-qualify great potential clients for you. Your brand needs to build trust. It needs to get people to understand that you are the right solution to their problem.
Let me close it out with this. Number one is, when you’re starting to understand the key to success, the Knowledge Empower You, you have to start out with a marketing strategy. This strategy has to emphasize your brand and getting it in front of people that are right for your business. Not everybody, but people that are going to do business with you.
You need to invest in yourself and empower yourself with the knowledge of how to do things better. How to communicate it. How to create that right brand message. So KEY is, Knowledge Empowers You and investing in yourself pays the best interest.
I would love to hear your thoughts on this. Comment below and share your thoughts, ideas or questions about showing the concepts presented. Have you had to overcome any of the presented concepts? What worked and what did not live up to expectations? Do you have any ideas or advice you could share?