• Innovative Strategies That Create More Profits

Tag: Marketing

How To Create Strategies For Business Growth

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How To Use Business Growth Strategies To Become A Superior Competitor  

 

If you are in a competitive market long-term, you will likely go out of business because eroding margins are the consequence of destructive competition.

Therefore, you need a powerful strategy for business growth to become a superior competitor.  

The good news is there are three strategies we will cover in this blog that you can repeatedly use:

keep creating new ideas and innovations to acquire new clients,

get them to purchase more,

and increase the number of times they buy each year.

Learn how to get out of that long-term competitive race with a superior, long-term strategy for business growth.

Our strategic framework will elevate your products and services over the competition—no more short-term tit-for-tat competitive strategy. 

You will have a process that will deliver endless business growth strategies, opportunities, and revenue growth, making you the market’s value leader.

Without the hype, buy now marketers we see so much of today.

 

This Strategy For Business Growth Blog Will Briefly Cover:  

1. How to make better decisions more often. It covers expertise and critical thinking from one’s perspective and vision.

2. Then, three ways to increase revenues and what you can afford to spend to acquire a new client.

3. And then, we will discuss only three things — business growth strategy, creative insights, and marketing strategy —

you can repeatedly use to keep improving value and increasing revenues and profits. 

Let’s talk about decision-making first because you may want to change how you approach decision-making.

And we know you must make many daily decisions as a business leader. So, let’s start with a question.

 

With So Many Growth Strategy Decisions, How Often Do CEOs Make The Right Decision?

The answer is 52%. You only have to make the right decision 52% of the time to be a top decision-maker — 2% more than the flip of a coin.

Remember New Coke or the Edsel car? Billions were spent and lost by brilliant people making poor decisions.

Why is this number so low? The first reason may surprise you. It’s due to our reliance on expertise.

They specialize in their industry, markets, and products to get to the top of their company and industry.

They have built a kind of wall around their perception of the world.

They know the norms of their industry and are comfortable. So they are comfortable making informed decisions.  

 

Many Executives Have Put Themselves In A “Limited Perception Box.”

Executives often limit their business and industry worldview.

This limits their situational perception, which is a significant reason they can’t get past 52%. 

For example, If you looked at the front of a house, you would have a real, accurate perception of that house.

If someone else looks at that house from the rear, they would have a different and precise perception of it. 

 

Here’s a fun perception example that I like from Edward de Bono.

This group of 12-year-old boys tends to pick on or tease Bobby because the group thinks it’s fun.

They show him two coins one day, a large one (worth $1) and a smaller one. (worth $2).

Bobby picks the large one, and the group laughs and has a good time at Bobby’s expense.

They do this several times over the summer. 

One day, an older man sees what’s happening and afterward tells Bobby that the smaller coin is worth twice as much as the larger one.

Bobby says I know that. But, if I had taken the $2 coin, they would never have kept offering him the opportunity again and again.

Perceptions can be valuable and increase opportunities.

This short story shows how vital your perception is,

and the broader your perception, the better you will be at solving problems, coming up with new ideas, and making good decisions.

You can’t limit your perception of your industry, market, or how you think about your company.

 

Why “Perception” Matters When You Are Trying To Create Business Growth Strategies

 If I asked you what you do, you might answer: I own a hardware store, I am a doctor, or I manufacture light fixtures, or whatever.

You probably would say yes if I asked if you wanted to grow the business. 

So, now let me REFRAME your answer by changing your perception,

Let’s say your first answer was. “I own a hardware store, and I sell products and services.

That perception may then limit your market growth.

But what if you reframed your answer to, “I own a marketing company that sells hardware and services.”

Now, you have a different and much broader perception of what you do and how you would approach your objective or goal differently.  

 

Your job is marketing which means you focus on increasing sales and profits.

You can now focus on ethically building your company, sales, and profits, not as a hustler.

This change in perspective gives you a broader perspective and have you searching for ways to market your business by focusing on your clients.

Note: your focus is now on the client because a client is someone you care about and want to help solve their problems. A customer is a transitory perspective.

 

There Are Only Three Traditional Ways To Get Additional Revenues.

1.  Increase the number of your clients. Start by looking at the “lifetime value” of the client.

If you sell a product for 1,000 dollars, the client makes a purchase once per year,

and the average customer remains a client for five years; the lifetime value of that client is $5,000. 

I assume you would prefer the $5,000 to the $1,000. So, you now know you can spend up to $5,000 (less your costs) to acquire a new client.

If you could increase the number of clients by 10%, you would increase your revenues by 33.5 percent.

2. Increase the average size of the orders

Start by satisfying the client with add-ons or solving the client’s problem better or differently, which might require additional or different items.

Maybe the way they sell cars.

After you agree to purchase the car, they show you the sunroof to make your driving more fun, the better radio that brings in more stations, and more. 

3.  Increase the number of times they buy each year

Create other ways for clients to use your products or services.

A great example is American Express or Visa, which enables you to purchase plane tickets, theater tickets, and a frequent flyer miles incentive program.

Or maybe a special spring and fall sale at your store for current, specially invited clients only.

Those are all excellent traditional things you could do to improve your revenues. But an even better approach will give you continuous revenue growth.

 

How To Achieve A Sustainable Competitive Advantage

Generally, if you are in a competitive market long-term, you will likely go out of business because of eroding margins

due to the problematic competitive nature of competition. 

But, there are only three strategies you can repeatedly do to keep coming up with new ideas to get new clients and get them to purchase more,

plus increase the number of times they buy each year.

Revenue Opportunities Start With Your Strategy For Business Growth. 

Using your new perception, create a new strategy for your business

based on your goal or a problem that needs to be solved to reach your objective or goal.

We could talk for days about what strategy is, but Richard Rumelt, author and professor,

explains a practical and straightforward definition that makes a complex description simple and easy to understand

 

A strategy Process Is: 

1. Identify and define your problem or objective.

2. Diagnose the objective or situation (data is essential but not sufficient) because you rarely come up with new insight

because your mind is dealing with the information you already know

3. Innovate through insight and creative thinking. There are many innovative techniques you can use to create new ways of solving problems, and knowing how to reach the objective,

4. There is never enough time or money to do everything, so you must prioritize and ensure the solution conforms to your strategy

4. Prepare a coherent plan and execute it.

There is never enough time or money to do everything, so you must prioritize and ensure the solution conforms to your business growth strategy.

 

Then Creativity And Innovation:

I need to talk about innovation briefly because many people think they are not creative, but everyone is creative.

Again, Edward de Bono shows why your mind is set up to be creative.

It requires you to learn innovative techniques to put your mind in gear to do the creative work.

And it’s a great way to get business growth strategy ideas.

Humor is a beautiful example of how the brain works.

Humor indicates how our information system gives rise to perception and how you can see the world differently.

You might enjoy this example from a Winston Churchill story. 

A woman MP meets Churchill in the hallway (after lunch and a few drinks) and says to him,

“If I were married to you, I should put poison in your coffee.”

And he replies, “and if I were married to you, I should drink the coffee.” 

Our information system gives rise to perceptions and how you can see the world differently.

Perceptions set up in one way can suddenly be reconfigured in another way. Humor is the essence of creativity. 

One can use many creative thinking techniques to create different concepts, insight imaging, and ideas and turn them into innovations.

For example, the random word technique is an easy and quick way to get many ideas.

See our blog post, “How to turn negative problems into positive results. or Michael Muchalko’s book, “ThinkerToys.”  

 

Then Marketing Strategies For Business Growth

Marketing strategy and tactics are the third groups of tools we can repeatedly use to reach our objectives.

It begins with the same strategy format explained above — objective, diagnosis, insight, and a coherent execution plan — but is applied to marketing strategy.

Apply a market strategy to every tool used. For example, you need a marketing strategy in b2b for your website, blogs or ads, publicity, and other marketing tools.

You might want to see our blog posts on websites and value propositions.

For example, over one million blog posts are created every day.

How would a potential client find and read your blog post?

You need material the client is looking for, not necessarily the material you want to give him;

you need to be different and have a strategy and some creative insights to make it effective.    

Also, because your perspective is now broader, you can use marketing strategies and tactics – from any industry-

to get new clients, get them to purchase more items, and buy more often. 

 

Conclusion

Long-term, it is difficult to compete profitably in a competitive market because of eroding margins.

However, you can win this competitive race with better thinking, a broader perspective, and tools that can be used repeatedly.

To achieve a sustainable competitive advantage, you need to start with your business strategy for growth and keep adapting it to market and buyer changes.

Then use your creativity — everyone is built to be creative. It is a learned skill, not a talent. Learn to create ideas and then turn them into innovations.

Then create your marketing strategy for each objective and program  — like website, blogs, advertisements, publicity, etc. — you will use and make sure you also have a coherent execution plan.

How will you use this approach to strategy for business growth to drive more revenues and profits?

Tell us what you think  Also, if you would like more information like this blog post, sign up for our free blog post program.

PS. You might also be interested in the blog post, Why Your Business Growth Strategy Is Your Story.

How To Create Value Monopolies, Part Two

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The source of sur/petition

Sur/petition goes far beyond housekeeping. Getting things right within the organization (cost control, quality) is undoubtedly essential, but this merely gets the baseline right. Classic competition is part of housekeeping, though it is also concerned with getting the baseline right. 

Quality and prices have to be correct. There is a slight overlap between product differentiation and sur/petition, but the overlap is not considerable.

Sur/petition is not so much concerned with differentiating changes in the product as it is with the uniqueness of the value provided. There are several ways in which value monopolies were established in the past. Some are still as important as they ever were, but others have become less important over time. The following are some of the ways you can establish value monopolies.

Physical uniqueness

There is only one Mona Lisa and only one Van Gogh irises. Their price may fluctuate with the market, but their unique value will remain. A retail store built in a prime location may, over time, lose its special status. 

Technological uniqueness

Patents are an obvious example of a value monopoly. Intellectual property is crucial and should be protected. The pharmaceutical industry has the most patent protection because of the long development time required.

 Outside of the pharmaceutical field, sur/petition through technology is much less secure. Technology may only provide a six-month to one-year lead time, and except for exceptional cases, lead times may be reduced further. 

There’s also the problem of very high technology development costs with a small, narrow market. This problem is happening in the chip market as more chipmakers focus on specially designed chips vs. the broad commodity chip market. You can keep up your margins but also progressively reduce your market.  

Also, new products are being developed that are not technology breakthroughs but new applications of technology. The application can be more valuable than pure technology. That is why there is a need to treat concept development as seriously as technical development. 

Name recognition

The extent to which the name of a politician, company, brand, author, Etc., is familiar to the public. Name or brand awareness and brand recognition lead to Brand Trust.  

Dominance

Occasionally, a corporation becomes so dominant that it provides sur/petition by its position alone. This dominance is undoubtedly true for Apple, Microsoft, Alphabet, Amazon, and Facebook.  

A dominant position is a good base for sur/petition, but it needs to be continuously used. Boeing may be somewhat complacent about his dominant position, which is always much more vulnerable than it looks.  

Cost of entry

CMOS chips require less power than standard chips but require heavy capital investment. The cost of entry is high and requires continuous injection of development funds; there is protection from newcomers. However, existing cash flow has to cover these development costs.  

Once something is established, the cost of displacing it may be huge. The keyboard’s design, which was to slow down typing, is still the prominent keyboard today. We could design a much more efficient one today, but the cost of introducing it would be huge.

Brand image

The most traditional way of getting a value monopoly is through the brand image. McDonald’s does very well despite its many competitors. Heinz tomato ketchup continues to be a favorite. Familiarity, availability, dependability, and public image are essential when other values are similar.

Although brand images are a useful way of gaining recognition, there will probably be an even greater need for them in the future. However, it will become increasingly difficult to sustain them as quality improves and consumers become more conscious of their values. 

Segmentation

 Specific niches, segmentation, and market focus have always been ways of gaining a sur/position. At the very least, they give a company a good starting position. Even when others enter the same area, there is still an initial advantage, provided management can keep up the quality.

As always, there is an initial advantage and the importance of follow-through. It is possible to have market segments that are even too specific. Then, there is the same problem as with very specialized products. The market may be tiny. Having a dominant position in a small market may not be good enough. If the market gets bigger or seems lucrative, others will undoubtedly take a good look at it.

Protection or plus

Above were some of the more traditional methods of getting value monopolies. Some of them are forms of protection, like patterns and cost of entry. A few are based on uniqueness. The rest have to be based on some sort of a plus.

The plus factors will come from careful attention to integrated values. For example, Domino’s Pizza was based directly on this concept. People who want pizza do not feel like going out to get one, so Domino’s delivers to their door. 

Perrier is another example of integrated values. Perrier introduced the concept of designer water and kept up the pressure to remain the market leader. People are becoming more health-conscious. The two-martini lunch was going away, so what were you going to have for lunch? Water made you seem very cheap and often tasted awful. So consumers were crying out for the most expensive possible way of drinking water, and Perrier satisfied that need. It became not only socially acceptable but even a mark of sophistication.  

One of the worst reasons for not doing something is that it might hurt existing businesses. But that is where sur/petition may be found in new concepts.

 

Solve Problems And Gain Insights Intuitively 

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Intuitive techniques allow you to tap into your unconsciousness and find the ideas that you already have. To solve a problem, you have to believe that you already have the answer in your unconscious. 

Michael Michalko, in his book, “Thinkertoys,” explains how Intuitive techniques show you how to take advantage of your right brain’s capability to perceive insights all at once from your unconscious. The following discussion is based on his study of intuition and problem-solving.

Using intuition means paying attention to your feelings and knowing their accuracy and how well you apply your intuition to your problem. Here are some examples of using intuition. 

“George Washington solved his most difficult problems during the revolutionary war with intuition. He would instruct his orderlies not to let anyone disturb him while he relaxed and intuited decisions.’ Another example is Conrad Hilton, who is bidding for the Stevens Hotel in Chicago. He offered the number and won the world’s largest hotel by $200.”

Successful managers often use intuition. Present an intuitive manager with a company’s financial report, and s/he will accurately assess the firm’s strengths, weaknesses, and future. Present the same manager with a personal problem, and s/he will evaluate the situation and intuit the solution and possible courses of action.

Five ways managers use intuition

Harvard business professor Daniel Isenberg studied 16 senior managers in major corporations. He spent days observing them as they work, interviewing them, and having them perform various exercises designed to figure out what made them successful.

He identified five different ways successful managers use intuition to:

1 Help them sense when a problem exists

2 Rapidly perform well-learned behavioral patterns

3 Synthesize isolated bits of data and experience into an integrated picture

4 Check on the results of rational analysis. They search until they match their gut feeling and their intellect.

5. Bypass in-depth analysis and come up with a quick solution. Charles Merrill of Merrill Lynch once said that he was right 60% of the time if he made decisions fast. If he took time, analyzed the situation, and decided carefully, he would be right 70% of the time. However, that extra 10% was seldom worth the time.

Intuitive people develop superior insight that enables them to perceive whole situations in sudden leaps of logic. John Mihalasky and a Douglas Dean at the new year New Jersey Institute of Technology discovered that 80% of CEOs whose is profits doubled over five years had above-average intuitive powers.

The blueprint for achieving intuition

The two basic principles of intuition are: it must be developed and should be incorporated with reason.

1 It must be developed. Strive to be aware of your intuition daily. When do they occur? How do they feel? Practice your skills by making guesses before a situation is thoroughly analyzed.

To condition your mind, ask yourself some “yes” and “no” questions to which you already know the answers. Observe how you get the answers. You may see a yes or no. NO matter how your answer comes; concentrate on getting future answers in the same way.

Do the same with choices. Start by thinking about a choice you have already made, and imagine the options you had when you made a choice. If you think of the choice you have already made, observe the word, phrase, image, or symbol that represents that choice. Remember how you got the answer, and focus on getting future answers in the same way. Pratice making a few simple choices you haven’t made before.

2 combine intuition with reason. In an interview, Jonas Salk, the scientist to discover the polio vaccine: “I’m saying we should trust her intuition. I believe that the principles of the universe are revealed to us through intuition. And I think that if we combine our intuition with our reason, we can respond in an evolutionary sound way to our problems. Affective, creative conceptualization requires that one incorporate reason and logic as well as intuition and feeling.”

The exercises on the following pages will re-introduce you to your intuitive senses.

Problem-solving

Professor George Turin, of the University of California at Berkeley, states that the components of solving problems with intuition are:

1 The ability to know how to attack a problem without knowing how you know.

2 The ability to relate a problem in one field to seemingly different problems in unrelated areas. The ability to see links, connections, and relationships between ideas and objects.

3 The ability to recognize the crux of the problem.

4 The ability to see in advance a general solution to the problem.

5 The ability to identify solutions because they feel right. The ability to focus on what may be rather than what is.

Experts at the intuitive problem-solving approach can rarely provide an accurate account of how they obtained their answers and may be unclear on what aspect of the problem they focused on before the insight.

Brainwriting

Brainwriting is a way to solve problems using intuition. Find a quiet spot and relax. Write out your particular challenge and concentrate on it for a few minutes.

Write down some pertinent questions about your challenge: What is in my best interest? What should I do? Are there other alternatives? Which alternative is preferred? And so on. And wait for the answer. 

It may come as a voice in your mind, or you may seem to be communicating with someone else. Try to write down your answers as they come. Don’t analyze or think. Write whatever occurs to you. Keep asking questions, and keep writing the responses until the responses stop. Finally, read and review what you have written. The answer to your challenge may be there.

Summary

Strive to be aware of your intuition daily. Think about choices you have made and observe how you recognized the answer. Try making some simple choices you haven’t made before. 

Practice will help you when you don’t have the time to do a deep analysis and make a quick decision and accept the consequences. 

 

Creative Results From Your Team  

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Creative Results From Your Team

As someone who has been in many “brainstorming” sessions, I can’t tell you they don’t work, but I can tell you they don’t work as well as some other methods. The Six Hats method makes much more sense. It is easy to use, structured to include everyone, and the processes make the meetings more productive.

The Six Hats method allows us to think in parallel to explore a subject in a constructive rather than an adversarial way. 

The Six Hats method of thinking, created by Edward de Bono, author, and professor, challenges all those at the meeting to fully use their minds and not just negatively. Someone who is against an idea being discussed is expected to honestly and objectively still see the values in the proposed concept.

The framework of the six hats might seem to complicate discussions and make the meetings last much longer. But the opposite is true. The use of the six hats method significantly reduces meeting time. Sessions progress in a natural, orderly way from getting initial information to creating concepts and ideas. 

After using this method a few times, you will be able to get many creative ideas in a setting that is not only productive but also team-building. Plus, you will get results in a fraction of the time it usually takes for such a meeting. 

Following are the six hats:

 The Blue Hat is the person who organizes and controls the meeting.  It is used right at the beginning of a discussion to decide the focus and what sequence of hats the session will use. The conference does not have to be conducted in the order presented here, but this order is the most logical progression. The blue hat reminds people of the hat in use during the meeting if they stray away for some reason. The Blue Hat is also used at the end of the outcome, summary, and next steps.  

The White Hat is concerned with information.  What information do we have? What information is missing? What information do we need – and how are we going to get it?  If conflicting information is put forward, there is no argument. Both versions are put down in parallel and then discussed when that information needs to be used. 

Red Hat has to do with feelings, emotions, and intuition. Under the Red Hat, all participants are invited to put forward their feelings. In a regular discussion, you can only put forward these things if they are disguised as logic. There is no need to justify or explain them. They exist and can therefore be put forward. The Red Hat is very brief and simply allows these things to get out on the table.  

Black Hat is for critical thinking. What is wrong with the idea? What are its weaknesses? The black hat looks at the downside, why something will not work, the risks, and dangers. All the negative comments made during a meeting are concentrated under the Black Hat. The Black Hat is beneficial, but it has a defined time and place.   

Yellow Hat focuses on the positive. What are the benefits? How could it be done? What is the value? Traditionally, our education is primarily about critical thinking. We are never really exposed to developing forward-thinking concepts. For example, the ability to find value in anything, even things we do not like and will not use. Nevertheless, we should, honestly and objectively, find value in things. Without sensitivity to value, creativity can be a waste of time.

Green Hat is directly concerned with creativity. When the Green Hat is in use, participants are expected to make a creative effort or keep quiet. Most people do not like keeping quiet, so they make an effort. This effort means looking for new ideas. It means considering alternatives, both the obvious ones and new ones. It means generating possibilities. It means modifying and changing a suggested idea, possibly through the use of lateral thinking tools.

Conclusion

That is all there is. A simple method that allows everyone to think together to explore a subject and generate new concepts and ideas on how to move forward in a constructive rather than an adversarial way.  

Try to use this method in a small group first, so you get the hang of it. It may take a couple of times to get it right. But, once you have the method down, it’s easy to use and productive.

Let us know how it works for you.

 

 

 

 

The Random Word Technique/A Creative Tool For New Ideas

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It is our perceptions that control emotions, and emotions control behavior. If your perception changes, you have no choice; your emotions and behavior will change also. The random word technique helps you change your perspective, so you see concepts and new ideas differently.  

The mechanism of the mind

We can now base thinking on the way the mind works. In Edward de Bono’s book, “mechanisms of the mind,”  he describes the mind as a self-organizing system. Based on this self-organizing system, he designed the lateral thinking process.

The asymmetric patterning behavior of all human minds gives us creativity and humor. That is why we have excellent thinking (landing on the moon, fly faster than sound, computers, etc.) The interaction of our asymmetric mind is what gives us the ability to do creative thinking.

Perception

Perception is far more important than logic. Logic is excellent but not enough. 

We have made significant achievements in science, technology, and engineering. We need to supplement our existing thinking methods with perceptual thinking, creative thinking, and design thinking.  

The formal tools of lateral thinking

Lateral thinking means moving across established patterns of thought instead of moving along them. For example,  if there is an obvious route in one direction, we are naturally blocked from taking other unknown ways. (The dominant pattern).

The lateral thinking tool requires that we block the obvious path (A to B). It may be the best way, but we will seek alternatives (drilling oil wells from vertical to horizontal, for example).

Focus is important:  

What do you want to focus questions? What problem do you want to solve? Where do you want new ideas? There are two types of focus:

Purpose focus: a problem to solve, a process to simplify, a conflict to resolve, a product to improve. Etc.

Area focus: the general area in which you want new ideas. This area could be the market, the industry, or your market niche, for example. The random word tool is very useful for area focus because it works even with no defined starting point. 

The focus area may be broad or narrow. You want new ideas about your focus objective (purpose or scope).  

                          C wallet

A______________________________B

                         Restaurant

Therefore, to get new ideas, you need to get your mind off the traditional path A to B (the pattern already in your mind) and move laterally across the path to point C, a new starting point. For example, a random word disrupts the known pattern and asymmetrically opens your mind to a new pattern, pathway or idea.  

In the random word technique, point C would be a random word you connect mentally to the focused area. This process allows you to create multiple new concepts or ideas about your targeted focus area.

Select Random Words

Select the random words to use as your new starting points. There are several ways to get random words. One of the best ways is to use the dictionary. Open the dictionary to a random page and then put your finger on a random word and select the closest word (a noun). Choose about five more words. Write them down. 

Be sure you know the definition of each word because you will associate the characterizations of each word with your focus question  Work quickly through each of the words, but don’t judge your responses at this time. Each idea response represents the possibility of a great idea. You are going to spend about 5-10 minutes exploring each random word. 

For example, focus: on a new restaurant. 

Random word: wallet.

One concept would be a restaurant where people order food, pay immediately, and take the food elsewhere to eat vs. ordering in, eating the food at the restaurant, and only paying after eating. 

A restaurant where people are charged by the amount of time they spend at the restaurant. 

A restaurant known for one special, unique and expensive dish served at one particular time every day.  

Concepts

There can be functional or operational concepts to describe the way something is done. There are usually several levels of concept, from broad to detailed.

There can be value concepts (why is this a value?) Or purpose concepts (why are we doing this?) And descriptive concepts.

The importance of concepts is developing alternatives and new ideas by extracting the concept and looking for ways to deliver this concept through a specific idea. Ideas are the way of putting the concept into action.

Try it out

Try it on a focus of yours. The more you do, the more you learn and the more ideas you will get.

Let us know how this works for you or if you have any questions.

How To Turn Your Website Into A Selling Machine

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Unless you are an eCommerce company, entrepreneurs want their website to make the company look “professional.” That’s great, but websites are the number one selling tool that most companies have, so they should be used by everyone to sell its products and services. It can both look “professional” and sell our products and services.

For starters, you need to look at your website’s structure to make sure you have structured a persuasive story. Following is a website structure that will guide you to a successful website.

According to Yoast, Site structure refers to how you organize your website’s content. A website often consists of content on a variety of related topics. The site structure deals with how this content is grouped, linked, and presented to the visitor. If you structure your website well, it will benefit from this structure; users will find their way more easily, and Google can better index your website.

Layout each section on paper first, so you don’t have to make any changes later during and after development. There are nine sections in this discussion. Colors and images are fine, and you need to use them, but it’s words that sell.

Don MIllier, author and CEO of storybrand.com, has a simple, straightforward way to look at your website, making sense and is easy to use. Look at your website and compare it to this list,

1 Header

First impressions are important. The first 10 seconds the customer lands on your page are the most critical. They decide to stay or leave. Others say 20 seconds is what you have or the first 100 words.

Don’t be cute or clever. Be simple, clear. You need to answer three questions; first, what do you offer? How will it make the customer’s life better? What do they need to do to buy it? This is where you get your CTA.

Don’t be passive-aggressive aggressive with CTA. like “learn more.” The customer needs something to accept or reject. You can even have two CTA‘s in the header. Images are good and happy people are hard to beat.  But, if you sell cakes, show great cakes.

2 The Problem or Situation

This is the failure section. Stories love tension. Most stories start with a character who wants something. Then challenges are placed between the character and what the character wants. The closing of the distance makes the story work—a positive scene, followed by a negative scene.

What is the cost of not doing business with you? What is not having a clear, powerful messaging costing you? How many customers can’t hear your offer in the sea of marketing noise? Your lack of clarity may already be costing you a great deal?.

If there are no stakes in the story, there is no story. How about the pains of losing to competition, not reaching potential, confusion, lost business, missed opportunities, wasted time.

But a little bit of this goes a long way. Maybe show a box with a logo and a sentence or so telling about some pains.  Maybe underneath the box, three columns with some points that you want to make.

4 Value proposition

It is a good idea to put this section after stakes position after negotiation; stories love the contrast. Contrasting scenes work well. What value will the customer receive if they do business with you? Tell customers everything they get:  can they save money, save time, reduce risk, get quality, simplify their life.

Be specific. The visual. Maybe a box again with 123 and the different points that you want to make. It would be best if you had a headline on top of the visual; otherwise, people won’t read it.

5 The guide

Provide an incredible return on their investment. Focus on the customer,  Lose sleep over your customer’s success.

The Guide is an empathetic and authoritative person to help the customer get where he wants to be. He understands their challenge and helps people achieve it.

A couple of ways to show this are testimonials, logos of companies you’ve worked with. A simple statistic, many people you’ve helped tons of people for example

Don’t overdo authority. Make sure you don’t use too much authority and not enough empathy. Three testimonials will show both. Keep testimonials short and to the point.

The same is true for overcoming objections, involving problems, solving problems, adding value. Keep testimonials short; statistics is another way. Show the years you’ve been in business, awards you’ve received, and clients you have served.

5 The Plan

This tells customers the path they need to take to buy the product or service. It may not be obvious to them how to do it. Use three steps. Keep the plan visibly simple.

6 The Explanatory paragraph

Most people don’t stay on the website because there are too many useless words at the top. With this structure, they are already hooked by the time they get here.

This is where the SEO comes from. This explanatory paragraph needs to follow the story outline. One, identify who your customer wants to become, two identify what they want, three, define the problem setting them back, four, position you as their guide, five, share a plan they can use to solve the problem, which includes your product—six calls to action.

Another option. Overcome your client’s objections. List the top five reasons or excuses why they don’t want to work with you. Craft a sentence or two to overcome each objection. Note you can do both of these on the same page.

7  Videos

Videos are becoming very popular. Many sites have them now, and you will need to look at them as a quick way to get your message across quickly and with impact. A

8 Price choices

If you have several price options, you will want to put them after giving them enough information that visitors could make a buying decision.

9  Other Information

All of the above information may not be enough for everyone. Some will want to know more. Here is where this information goes. Those very interested will continue to read on, but most will have exited by this point. They could come back another time, however.  Also, some people will have questions, and this is the place to answer those questions in either narrative format or even a list of questions and answers.

Conclusion

You want a professional-looking site, but you also need a website that delivers a sales message. This structure will help you get both. You don’t have to go one through nine; you can vary the order depending on your message. However, you need to start with a problem and the solution to get the visitor to spend any time looking at your story.\

Does your website have a readable structure? What improvement could you make?

How Your “About” Page Helps You Increase Revenues

Posted on by harborcapitalgroupinc

Your “About” page is the second most important page on your website because it shows why you are qualified to do the work you have promised. Once visitors see what you do on your home page, they jump to your about page to see what you are all about. It also sets the tone and authority level for the rest of your website.

 This critical page is necessary for content conversion and then increases revenues because it is the beginning of building trust with your prospects. 

Because your About Page is important, it has to reflect your personality and the way you see things.

The following basic elements are a guide for the content you need to include. Many of the suggestions are from an article in Inc magazine written by Jeff Haden. Another good reference is Hubspot. 

Your about page could be about “Us” (your team or company) or about “Me” a single person, or about “your brand.” Stay consistent; first person (I, or we), second person (you), or third person (he/she/they) throughout your story.

Also, if you want to connect with people, be transparent and honest. If not, they will sense it as they go through your story and dismiss you if they feel you are not being truthful.

Most people find it hard to write about themselves, so ask people you know how they would describe you and what you offer.

Start your story by stating your goal right away, Let them know where you stand and why what you offer is important to them. 

Start with your keyword in the headline

Your headline should include your keyword. You can have a subhead that states the problem, solution, result, and benefit. For example, you could use “About” or Your Name and then have a subhead that contains your core story.

The important thing is that you have to make your point early. By the time they get to the bottom half of the page, many people drop off. Also, your about page can also help you with your Google ranking and organic traffic, so having it SEO optimized is also important.  Neil Patel has lots of examples of how to use your About page.

Move to what the customers need

Generally, people go to your About page because there is some interest or problem they want to solve. For example, reach product-market fit, find new customers, or increase revenues. So, address that problem and show them how you can help solve their problem better than anyone else.

Your About page may say it’s about you and it is. But, what the readers want to know is if you can solve their problem and deliver the results they want. Start with your core story (strategy) and tell them what you do and what they can expect, Be specific, but brief.

Tell them what kind of customers you have

Tell them who your customers are, so they can determine if they fit the way you do business or not. You can also mention who your customers are. For some, those names or companies will be important in their decision.

Also, give them facts not fluff. Don’t tell them how outstanding you are, give them facts, and let them judge for themselves. If you don’t have facts, don’t make them up. Talk about your vision why you do what you do and what you hope to accomplish. If they agree, they may want to come along. Like Simon Sinek says, people don’t buy what you do, they buy why you do it.

To Get Conversions and increases in revenues, you need a CTA

You also need a Call to Action (CTA) on your page. For example, what do you want them to do once they have read your page? Do you want them to sign up for your blog, get your lead magnet, watch a video? 

Don’t try to be something you are not

The page has to be condensed around your story. However, don’t write a long, boring, detailed history of your life. 

Often, smaller companies pretend to be bigger than they are. If you are passionate about what you do, they will see it and feel it. Focus instead on how you can help them. For example, because you are smaller, you can give them more attention, get things done faster, and possibly save them money.

 Tell them where you started your journey and some important milestones you achieved along the way. Provide some background about you and what led you to this business. You can tell them about the challenges you faced and why you do what you do today. 

Use real photos. 

Real people in real places. Don’t use stock photos as everyone can spot stock photos, and they take away from your authenticity. You can also use infographics. They can tell a powerful story in a short amount of space. And color helps.

Keep testimonials short and to the point

Have testimonials that make a specific point. Distill them down to just a few sentences. Also, make sure they speak to your story. Also, testimonials can be used to answer anticipated objections in a positive and believable way.

Certifications and awards are important 

If you are in a profession where certifications are required and important, use them. Important awards are also important. But you can easily overdo them. If you have a lot of awards and think they are important, have a special awards page. Remember, this section is about giving you credibility, not glorifying you. 

Your About page must load quickly

Studies have shown that for every second it takes to load your page, There is a 7 percent decrease in conversion rates.

 Always stay in beta

Don’t write this page and forget it. As things change, keep coming back and improving this page. Keep making it more persuasive. You will be able to and it’s very important.  

Some additional questions you should ask yourself

What makes Us different?

How did you evolve to what you are/do today? And how can that help your clients?

Conclusion

Most people do not realize how important the About page can be and therefore put little effort into it. But, it is the second most read page on your site and it needs to be very persuasive in order to start to build a relationship with your prospects. Take the time to prepare and optimize this page and it will help you convert prospects and increase your revenues and profits.

Some additional questions you should ask yourself

What makes Us different?

How did you evolve to what you are/do today? And how can that help your clients?

If you have any questions about this information or about me, send me a message Here

How Your “About” Page Increases Revenues

Posted on by harborcapitalgroupinc

How Your “About” Page Increases Revenues

 

Your “About” page is the second most important page on your website because it helps you increase revenues.

Once visitors see what you do on your home page, they jump to your about page to see what you are all about.

It also sets the tone and authority level for the rest of your website.

 This critical page is necessary for content conversion and then increases revenues because it is the beginning of building trust with your prospects. 

Because your About Page is important, it has to reflect your personality and the way you see things.

The following basic elements are a guide for the content you need to include.

Many of the suggestions are from an article in Inc magazine written by Jeff Haden. Another good reference is Hubspot. 

Your about page could be about “Us” (your team or company) or about “Me” a single person, or about “your brand.”

Stay consistent; first person (I, or we), second person (you), or third person (he/she/they) throughout your story.

 

Also, if you want to connect with people, be transparent and honest.

If not, they will sense it as they go through your story and dismiss you if they feel you are not being truthful.

Most people find it hard to write about themselves, so ask people you know how they would describe you and what you offer.

Start your story by stating your goal right away, Let them know where you stand and why what you offer is important to them. 

Start with your keyword in the headline

Your headline should include your keyword.

You can have a subhead that states the problem, solution, result, and benefit.

For example, you could use “About” or Your Name and then have a subhead that contains your core story.

The important thing is that you have to make your point early.

By the time they get to the bottom half of the page, many people drop off.

Also, your about page can also help you with your Google ranking and organic traffic,

so having it SEO optimized is also important.  Neil Patel has lots of examples of how to use your About page.

Move to what the customers need

Generally, people go to your About page because there is some interest or problem they want to solve.

For example, reach product-market fit, find new customers, or increase revenues.

So, address that problem and show them how you can help solve their problem better than anyone else.

Your About page may say it’s about you and it is.

But, what the readers want to know is if you can solve their problem and deliver the results they want.

Start with your core story (strategy) and tell them what you do and what they can expect, Be specific, but brief.

Tell them what kind of customers you have

Tell them who your customers are, so they can determine if they fit the way you do business or not.

You can also mention who your customers are. For some, those names or companies will be important in their decision.

Also, give them facts not fluff.

Don’t tell them how outstanding you are, give them facts, and let them judge for themselves.

If you don’t have facts, don’t make them up.

Talk about your vision and why you do what you do and what you hope to accomplish.

If they agree, they may want to come along. Like Simon Sinek says, people don’t buy what you do, they buy why you do it.

To Get Conversions and increases in revenues, you need a CTA

You also need a Call to Action (CTA) on your page.

For example, what do you want them to do once they have read your page?

Do you want them to sign up for your blog, get your lead magnet, or watch a video? 

Don’t try to be something you are not

The page has to be condensed around your story. However, don’t write a long, boring, detailed history of your life. 

Often, smaller companies pretend to be bigger than they are.

If you are passionate about what you do, they will see it and feel it.

Focus instead on how you can help them.

For example, because you are smaller, you can give them more attention, get things done faster, and possibly save them money.

 Tell them where you started your journey and some important milestones you achieved along the way.

Provide some background about you and what led you to this business. You can tell them about the challenges you faced and why you do what you do today. 

Use real photos. 

Real people in real places.

Don’t use stock photos as everyone can spot stock photos, and they take away from your authenticity.

You can also use infographics. They can tell a powerful story in a short amount of space. And color helps.

Keep testimonials short and to the point

Have testimonials that make a specific point.

Distill them down to just a few sentences.  Also, make sure they speak to your story.

Also, testimonials can be used to answer anticipated objections in a positive and believable way.

Certifications and awards are important 

If you are in a profession where certifications are required and important, use them.

Important awards are also important. But you can easily overdo them.

If you have a lot of awards and think they are important, have a special awards page.

Remember, this section is about giving you credibility, not glorifying you. 

Your About page must load quickly

Studies have shown that for every second it takes to load your page, There is a 7 percent decrease in conversion rates.

 Always stay in beta

Don’t write this page and forget it. As things change, keep coming back and improving this page. It is that important. 

Conclusion

Most people do not realize how important the About page can be and therefore put little effort into it.

But, it is the second most read page on your site and is very important in starting to build a relationship with your prospects.

Take the time to prepare and optimize this page and it will help you convert prospects and increase revenues.

Don’t miss out on future blog posts about how to create innovative strategies that drive sales.

Also, remember that your story is your strategy and marketing is how you tell your story.

  Jump on this link to get on our free blog mailing list.

  If you have a question or comment, please get in touch with me. I would love to hear from you.

 

Why Business Stories Drive Success

Posted on by harborcapitalgroupinc

Why Business Stories Drive Success

 

Why don’t more entrepreneurs use stories to explain their business?

The reasons may be they don’t understand how powerful stories are and defining, and crafting a story takes time.

Another misconception is that stories are what the marketing department does. True.

 

But your story needs to start long before there is a marketing department.

If it doesn’t, you could be trying to wordsmith your sales communications later for short-term tactical gains because you don’t have a competitive advantage. Why?

Most companies have competitors and everyone is selling the same product at the same price with the same service.

Here is what Ben Horowitz, venture capital firm, Andreessen Horowitz says:

“The mistake people make is thinking the story is just about marketing, No. The story is the strategy. If you make your story better, you make your strategy better.”

The story is the engine that drives successful companies.

And with today’s technology, you can tell your story, many times for free, to individuals anywhere in the world.

That makes stories more important than ever.

Benefits Of A Story-Based Strategy 

Business stories drive success and will help you build and grow your company and your brand.

According to Kevin Smith the world’s most valuable, innovative, and fastest-growing companies,

regardless of age, industry, or size – know the story behind the brand. (Airbnb, Apple, Facebook, Tesla, etc.) delivers success.

Simon Sinek, author of the book “Start With Why” described the value of your story another way.

He stated that “people don’t buy what you do; they buy why you do it, And what you do simply proves what you believe”.

The following are some benefits you will get from a well-crafted story

Stories help you develop and sell your idea

1. Stories simplify big ideas in a way that sticks in one’s mind.

2. Data can persuade people, but data doesn’t inspire them to act.

3. Stories help you attract and keep talent

4. Stories help you transfer your beliefs to your audience

5. Stories help you keep all employees on the same page and focused on the same mission

6. Stories give your company a short- and long-term advantage over competitors

7. Facts are important, but stories connect and motivate people

8. People remember stories but not many facts.

 

Stories help you build a brand

1. Stories will build a foundation of trust, but a customers’ personal experience will cement that trust into something that lasts,

2. Buyers often look to the story to justify the purchase 3.

3. Stories can raise the value and therefore the price you are able to charge. If you can’t get a higher price for your brand, you need a better story.

Stories help you market your brand to potential customers

1.  Stories when done right can significantly boost lead generation by many times normal.

2. Stories grow your sales pipeline

3. Stories shorten your sales cycle and increase your  sales ratio

4. Stories make it easier for your ideal customer to recognize your value

5. Stories Improve the quality of your sales forecast because they attract better-qualified prospects.

Conclusion

If you are looking to use business stories to drive success and take your company to the next level, stories are a great way to accomplish that objective.

More information on stories is available on our advisor platform.

Also, see our blog,” Five Quick, Effective Ways To Tell Your Business Story”

Jim Zitek/ Harbor Capital Group

We empower entrepreneurs with the information, insights, and conviction they need to turn their ideas into a successful business.

How Do You Know When It’s The Right Time To Scale?

Posted on by harborcapitalgroupinc

Is It The Right Time To Scale?

The goal of every executive is that moment when you have product-market fit and you are ready to scale the business,

But understanding when that moment has arrived is difficult.

May companies jump the gun and begin to scale the product or the company too quickly and end up just burning cash.

Net; getting the timing right is critical.

If you have discovered a pathway to repeatable revenues, and you are beginning to get or have organic revenues (proving product-market fit), or have revenues

and are convinced you are ready to scale.

In general, you are correct about product-market fit, But these early sales are most likely from innovators and early adopters.

These early adopters represent about 16 percent of your targeted market.

And, are the easiest market to reach. They are looking for and want to be first with new products. 

Introducing a new product in a new market

You still have one or two obstacles to get over before you are ready to scale. 

If you are introducing a new product in a new market, according to Steve Blank, professor, author, and entrepreneur, www.steveblank.com

you do not have a ready market. You have to create this new market. So, as you run out of early adopters, you will have to educate buyers who are unfamiliar with you,

your product, and its benefits. That will take time, effort, and money to accomplish.

 

Therefore, after that early revenue peak, you will get new revenues, but revenues will likely begin slowing down rather than speeding up

until you have the mainstream market educated. You have to cross the chasm, the gap between the early adopters and the early mainstream market.

This chasm is well documented in the book by Geoffrey Moore, “Crossing The Chasm”, author and consultant.

How long this “education phase” takes depends on the product or service type and how technical or complex the product is.

So timing is critical because marketing costs from scaling up are rising, and revenues are not.

A lot of companies have been caught in this trap.

Introducing a new product into an existing market

If you are introducing a new product into an existing market, your goal is to take sales away from your competitors.

Therefore, the market exists. Therefore, you should be able to keep revenues growing incrementally with your better value proposition or lower cost. 

However, you still have to cross the chasm from early adopters to mainstream customers,

and they are more skeptical of your product or service and you than the early adopters.

It still takes time to educate and convince current users of a competitive product or service and switch over to your solution.

Therefore, you need to keep your revenue scaling more in sync with your revenue growth.  Unless, of course, money is no object.

Scaling operations is also very difficult. We will tackle that problem/opportunity in another blog post.  

Conclusion

Timing for a new product in a new market or an existing product in an existing market is a sensitive issue.

It depends on your development stage, type of market, and resources.

If you know someone with a timing issue, pass this on.

You might also be interested in our blog post, Transform Your Competitive Market Into An Uncontested Market.

You might also be interested in checking our website Harbor Capital Group,  The Proven Secrets Of Successful Startups.

Jim Zitek       

Innovation Strategies That Create More Profits