Finding Hidden Opportunities
Hyper competitive markets require stealth marketing,
finding those hidden breaks only open to us. The problem:
we have opportunities to build our empires in the palm
of our hands...we just don't recognize them. Here are
two ways to find secret openings for speeches and other
revenue.
Your own backyard
When making a change, it's easy
to assume that we have to start from scratch. We get
too busy looking out on the horizon that we don't look
for opportunities in our own backyard. Or worse, we
make assumptions about our current network that prevent
out-of-the-box solutions.
Example: A business growth expert with a background
in banking wanted to get out of that industry and work
with business owners. Cold calling business groups for
speaking engagements wasn't getting much of a response.
The hidden opportunity she missed: let the bankers,
who already knew she was great, use their current outreach
budgets to pay her to speak to the business community.
This would allow her to (a) get paid speeches; and,
(b) introduce herself to business owners from a place
of power.
Beyond
the outlet
Too many experts focus on the format (i.e., speeches,
coaching relationships) and not on the application of
their expertise. Example: If you are positioned as a
speaker, then folks will only think of you when they
are planning a conference or meeting. This prevents
any chance to create a meeting that would feature
your expertise.
Focusing your network
on an idea or way of thinking opens up opportunities
to explore the best way to join forces. To use the above
example: our business growth expert could approach her
friends in banking about using the media on her new
book to help their bank's brand with business owners.
That brainstorming session could result in new events,
as well as bulk sales of her book to business owners
in the area. The winning formula: link your idea to
their agenda first, then brainstorm possibilities for
speaking, coaching or product sales.
Too many experts
spin their wheels on efforts that don't propel their
empires fast enough because they misjudge the potential
of cold calling, direct mail, and other "cold"
approaches. Instead, look at your network and look for
unique ways to join forces.
From Conversations to
Contracts
Vickie's note: I worked with Tim and Suzette earlier
this year and am THRILLED with their success. They are
a great example of the "bright side" -- what
happens when we get strategic and give value up front.
Finding hidden opportunities is one thing. Turning
those conversations into business is another. Tim and
Suzette Autrey of Practicing
Perfection Institute have generated over $300,000
in opportunities in less than a year. Here are two examples
of how they did it and lessons learned.
The
power of positioning
When you're clear about your
message and its value, any conversation can turn into
an opportunity. According to Tim and Suzette, their
30-second commercial gets a lot of "Wow, I know
someone who needs you!" reactions.
"One of our best champions started out as a personal
contact", explains Tim. "I was talking to
my orthodontist about scheduling dental work and he
asked me about my business. As I told him about my findings
in error reduction, he leaned in closer and closer.
All of a sudden he says, 'I need to let you know that
you're talking to a potential client here!'."
Result: closed a five-figure deal in two months. The
doctor sees Time as the sole source for error reductions
and is now approaching suppliers and sending letters
to his colleagues because he sees this work not only
as valuable, but as unique.
Key strategy: There is no difference between personal
or professional credibility. All relationships can open
the door to "talk shop". What gets you to
the next step: the clarity and uniqueness of your point
of view.
Marketing
with customized findings
When a qualified prospect expresses
interest is the next step a proposal? Not for Tim and
Suzette. Instead, they offer a "culture survey"
to determine the potential and impact of error reductions.
A survey gets sent to all employees, and they tabulate
the results and issue a comprehensive report. At no
charge.
"Being a pioneer creates the need for education",
explains Tim. "We find that our reports either
tell an executive things they didn't know, or they knew
but couldn't put their finger on. And now we're easy
to work with because we know so much about their company."
Result: Every company, except one, who received this
report has worked with Tim and Suzette. And that one
client came back almost a year later and is now scheduled
to move forward. That's right -- a 100% close rate.
Key strategy: Learning on your dime turbo-charges your
credibility and makes your impact up close and personal.
The caveat: qualify all buyers before offering this
labor-intensive step.
Practicing Perfection Institute is a great example
of the springboard marketing concept: get clear, be
open, and give value with every interaction. Congratulations,
Tim and Suzette!
Speaking of hidden
opportunities...
I'm coming out of the Bat Cave and making a rare public
appearance. Chicken Soup for the Soul co-creator, Mark
Victor Hansen has invited me to return and present at
his third annual Mega Speaking event on November 4-6,
2005. Yes, I've been there every year, but never-revealed-before
information about finding hidden opportunities will
be unveiled this time. If you want more without cold
calling, you need to be there. Here
are the details.
Help for the do-it-yourself'ers...
OK, OK, I get it. You want my help, but you don't want
me to do the work for you. (Or you do, but my fees make
that impossible.) I'm launching new service lines for
just those folks who want my input on their terms. If
you just can't wait until the November 1st announcement,
e-mail Vicky
Likens and she'll send you the details before the
entire free world hears about it. And this is a good
thing to have, as my availability will be limited. It's
that "early bird gets to eat" dynamic...
The holidays are
coming up...
Halloween is almost upon us and you know what that means
-- Thanksgiving and Christmas are close behind. NOW
is the time to be thinking about your plans for 2006.
While giving thanks, ask yourself: how willing am I
to step out of my comfort zone to get what I say I want?
What changes am I willing to make? I learn this every
time I go to the gym: short-term pain creates long--term
gain...
I've decided that the insurance
industry would be the best place for my speaking and professional
services. How do I find hidden opportunities in a specific
industry?
A: It will be difficult
because you have the process backwards. Many experts
choose an industry niche based on inaccurate criteria.
For example, it's easy to assume that a profitable industry
has money to pay you. The problem: just because buyers
have money doesn't mean that they'll give it to you.
The secret to finding hidden
opportunities is to focus on your network first, regardless
of industry or niche. Choose your industry based on
the opportunities you can create from your current network.
Strong advocates with budgets in a weaker industry are
better than weaker allies who are only willing to refer
in a strong industry.
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