Design your Business
Simple beats Complex
|Competition becomes irrelevant when you learn how to position yourself correctly in the market.|
Simple is clear. Complex is confusing.
If you are confused, how do you expect the message that you send to your market to be clear?
The way to clarity is through distillation. If you can explain your idea to an 8 year old in a way that they understand, you can explain it to anyone.
Applying the Pareto Principle will help you to decide what you need to do to move your business forward quickly.
What is the Pareto Principle?
“You will get 80% of your results from 20% of what you do.
The thing is, few people recognise that the Pareto Principle is fractal so 20% of that 20% will produce 80% of the 80% of those results and so on.
As an entrepreneur, the most valuable thing we possess is our time.
Leveraging that in the most effective way is vital.
It all starts with Positioning your Big Idea so your Audience can see clear blue water between you, your solution and your offer and your competition.
No matter how much you spend on your marketing, it will only produce moderate results if your ideal customer is not clear in their own mind about not only the process you use and what makes it different but also the outcome you promise and how long it takes to achieve, BEFORE they buy from you.
Part of this is making it easy for them to decide whether your core values align with theirs. Your values act like magnets attracting the people you want to do business with and repelling the rest.
Nike’s “Dream Crazy” campaign is a prime example. It featured the former NFL quarterback, Colin Kaepernick and the slogan: “Believe in something. Even if it means sacrificing everything. Just do it.”
In 2016, Kaepernick started to kneel for the pre-game national anthem in protest at racial injustice in the United States. He was dismissed by the San Francisco 49ers.
Donald Trump attacked the advert saying“I think it’s a terrible message that [Nike] are sending…”
Videos were uploaded by people across the USA burning their trainers.
It polarised the market.
Nike believes that racial equality matters. Kaepernick was the obvious person to embody those values. Nike’s stock rose 5%. Sales surged by 31%.
All because Nike sent a clear message to their market about their core values.
If you don’t stand for something, you stand for nothing.
As coaches, consultants and expert service providers, we need a consistent flow of the right new leads.
So once you have clarity on your Positioning, your Big Idea and your core values, your next priority must be to be very clear who your audience is.
You may be playing a great song (Sweet Home Alabama) on a wonderful Gibson Les Paul 59 Iced Tea but if you have not tuned the guitar, the song is not going to be appreciated by your audience.
So how do you decide who your audience should be? … Check out chapter #4 for more on this.
The next logical step would be to develop your product/solution, you would think. It’s a mistake a lot of people make.
Investing time and money on this in the HOPE that you find customers is the last step, in the process. First, develop your offer. Prove to your satisfaction that it attracts paying customers, then develop the solution they desire.
Doing it this way round means you will not be working in a vacuum. Guessing what your customers want and need.
You may have to go through several offer iterations before you land on the final one.
You have to test…
|Note: I am laying this out here despite the fact that you may already have a finished product and existing clients. As with software, you need to iterate. After all, Apple’s IOS is on version 14.5. They are continuously updating and improving. You should be doing the same. Dialling in your solution. If you’re not, you will rein in the growth of your business so keep testing offers as you build.|
Advertising would be the obvious way of doing this.
Yet this would be throwing money down the drain without having an offer that converts. I go into how to test your offer in a later chapter…
For the moment, let’s dive in and define how to execute this sequence
#2: Your Big Idea
#3: Core Values
#4: Your Audience
#5: The Offer Engine
#6: Testing your offer
#7: Your product/solution