The # 1 reason most businesses never scale and often fail

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The main reason most businesses never scale and end up failing is because they don’t understand who their ideal customer is. In other words, who they want to be a hero for.

In this article, I will show you how we create our ‘Hero Magnet’ which allows us to create extremely targeted sales messages that quickly convert prospects into buyers of products and services in offers of $ 10,000, $ 100,000 and even $ 1,000,000 or more. just a couple of conversations.

Each of the titles in bold represents a “non-negotiable mindset and value” that drives our corporate culture and customer focus.

Narrow and deep vs wide and shallow

I have worked with over 60,000 companies in my 30+ year career and in my experience most business owners don’t realize how extremely important it is to focus on one market. narrow before developing. I like to say “narrow and deep, wide and shallow beats every time”.

I’ll show you the detailed demographic and psychographic profile that I use to define my perfect client. My hope is that you can model this in your to0 business.

When you understand that … creating great offers, figuring out your marketing, messaging, and how to reach your audience becomes significantly easier. In fact, your marketing pretty much writes itself.

Related: Free On-Demand Webinar: How to Grow a Disruptive Software Business and Scale Globally

Let’s take a look at my ideal client and how I go about attracting them to us.

They are b2b business owners, founders, partners or CEOs. They run businesses ranging from $ 3 million to $ 100 million, and while we have international clients, our preferred clients are in the United States and Canada. That way, we don’t have time zone, language, or travel issues.

What is your exploitation system ?

We use personality profiles to identify our perfect client. We give our customers (and sometimes prospects) KOLBE, Enneagram and WHYos ratings. KOLBE rates you as a Fact Finder, Tracker, Quickstart, and Implementer on a scale of 1-10. I only want 8-10 Quickstarts. We have found that “investigators” take weeks or months to make up their minds and that it is not fun to work with them.

We find investigators time consuming, boring, and costly from a sales perspective. If someone cannot make up their minds and know what they want, we have found that it is not easy to work with them or that they prefer to challenge and fight advice. Smart marketers create messages that purposely polarize or even offend an audience they don’t want to attract.

For example, I would say “if you need several conversations and weeks or months to make up your mind and feel the need to bring in several people for the decision-making process, we will not accept you as a customer or will not charge you double. The fee for a written proposal is $ 10,000. It’s by design.

Collaboration and relationships

One of our key marketing strategies is what we call Marketing Ambassador, which means we find ways to quickly access large groups of our ideal clients by building deep relationships with key Affinity Group influencers.

In our case, our ideal clients are the “members” and the “joiners”. This means they pay members of organizations such as: EO, YPO, Vistage, Strategic Coach, Genius Network, Tiger 21, Summit, Darren Hardy, Brian Tracy, Tony Robbins Platinum Partners or any other executive coaching group or expensive and expensive brains. .

Self control

This tells me that they are coachable, that they appreciate the shortcuts and that they save time. They paid for the coaching and advice. I often joke that the worst people to work with are willing to drive 50 miles to save a dime on a gallon of gas. They spend hours researching free information on Google and YouTube instead of paying an experienced thought leader to provide a proven solution or 5 minute response.

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These types of people will fight you every step of the way and challenge your experience and credibility. Life is too short to deal with them. Go count the beans and fight over the lobsters and the cats… (See how I purposefully created polarizing language? Fend off the bad guys and attract those who resonate with you.)

Philanthropic and charitable

Never confuse charity with business. I believe in philanthropy and charity. However, I do not work with broken or broken people or businesses.

“If you work with broken ones you will end up getting broken and you will be mad at your business and your customers. »Earn big bucks, donate all you can to a professional organization with proven results and get a tax deduction. Everybody wins.

Our next criterion: we do not work with newbies or startups that are not funded. The exception is if you are a founder or owner who has built and sold a business and it is your next turn. You need a real B2B business over 3 years old with customers, making money.

I’ve spent almost 20 years working with “wantrepreneurs” – people who talk about maybe starting a business one day. Or brand new startups run by confused people who didn’t know what they were doing. It was fun for a while, but unless you want to start a “big and shallow” business with lots of customers, cheap products, and a “growing funnel”, it’s tedious.

It’s not that I don’t like these people. I just don’t like working with this type of business or dealing with the operational, cash flow and HR challenges they face. I also don’t work with solopreneurs, coaches or people who just talk.

Transformations, not transactions

Our ideal client understands and has experienced the power of history and transformation.

They understand how valuable a story is and know they are just one connection away in exponentially improving their life or business, attracting better teams, selling their business, or any other breakthrough they are looking for.

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One of the main requirements of the companies we work with is that they must have satisfied customers and social proof that their products and services are working.

This means they have at least 5-20 success stories, or “customer transformations” so we can create powerful sales and marketing stories.

Then they must sell a product for $ 10,000 or more. This is because we have created systems for positioning, packaging and pricing products by 2x-20x. We can turn a few knobs and generate millions of dollars in additional income in a matter of days.

Platform mindset

Then I discovered that business owners who understand the power of having a personal platform and a personal brand understand leverage and how it creates a multiplier effect.

A lot of the people we work with have written a book (or want to), want to start a podcast (or already have one), and do regular interviews. They talk or want to talk and if they did a TEDx talk, even better.

But more importantly, they resonate with this message;

  • I am an expert.

  • I have a message to share.

  • I understood how to overcome the great challenges of life and business.

  • I understand my post will help more people.

  • I want to connect with more like-minded people.

  • I know my message and wisdom will increase the value of my business services and give me access to more people.

Generally speaking, someone who has reached this level of wisdom and understands that as a founder, his message will multiply and amplify the awards and success of his business by coming out of his fear and showing the courage to be a visible leader.

Opportunity hunter

Next, we found that the companies we work with often solve a problem that their customers don’t even know they have and require a high degree of education. They frequently sell complex products to informed audiences.

Many of our clients are in the financial space, SaaS (software as a service) companies, management consulting, manufacturing real estate, high tech or professional services. The truth is, the industry doesn’t matter as much as the non-negotiable values ​​of the founder, organization, and brand.

Constantly evolving

Specifically, our perfect client is committed to their own development, is freedom driven, demonstrates strong family and philanthropic values.

They consider themselves spiritual but are generally not religious (which to me means they are open-minded and tolerant.) They work for the freedom of time, money, purpose and relationship, and are of libertarian spirit without being political. They firmly believe that government is inefficient and filled with bureaucratic and rules-abiding “smaller common denominators”. (See – more polarizing language – on purpose).

Someone who is deeply religious or who fits the mold of the “social justice warrior” is likely critical and obnoxious to work with. If they like to polarize others, polarize subjects, be in a state of outrage, or take offense easily, they are in my no-fly zone. I’ll go so far as to say that if you feel the urge to share your favorite pronoun or your sexual orientation, we are not meant for each other.

I have found that the secret to choosing the profile of your perfect client is to go in depth. Spend some time meditating as you look at a list of the top clients you’ve worked with and really feel them.

History writes itself

By asking yourself the questions “How do I feel when I’m around these people?” What are their states of mind, their beliefs? What do they like ? What do they hate? More importantly, what and who influences them and how to break down the barrier to their confidence? “

Answering these questions in story form becomes your primary marketing message. I am using the structure of the story “The Joseph Campbell Hero’s Journey”. It’s basically a movement, featuring your perfect customer with you, your products or services as your personal guide.

It looks like this: “Once upon a time there was a person who ran a business like you. They had many dragons to kill to escape the same challenges as you. They met a mentor with special powers who gave them a card of success, solved their problems, made a lot of money, sold the business and lived happily ever after!

If you would like to see an example of how we have transformed our profile from “perfect client” into one brochure and funnel sales video, go here.

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About Donnie R. Losey

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