Yesterday, we discussed Reg’s marketing profile for his new consulting business and why it was doomed from the start. Today we go into greater detail by starting on the question why someone should hire Reg for an engagement. How should Reg proceed? Share your thoughts, and I’ll pass them along.
Meet Reg, a seasoned corporate veteran branching out into his own consulting business. His beautifully structured marketing profile is, surprisingly, a detriment. Why? Discover the dangers, key insights and strategies throughout the week but starting here.
During my MBA studies at the University of Chicago, I learned about “sawing the floor,” a concept where you outmaneuver a larger competitor by exploiting a neglected niche. This strategy helped me launch million-dollar institutional trading desks in London and Dubai. It’s simple in concept but requires clarity and dedicated focus to execute. This approach can transform any small business once you understand your target market’s core desires and effectively communicate your solution.
A disastrous date taught me a vital business lesson: be true to yourself. In business, trying to please everyone leads to mediocrity. Instead, focus on attracting the right audience and repelling those who aren’t a fit. When you’re clear on your purpose and ideal clients, it’s easier to be heard by the right people and achieve powerful results.
A recent conversation with a yoga influencer highlighted a powerful business truth. Most entrepreneurs would envy her loyal following and unique brand. She’s 80% there – the last 20% is legal structure, marketing, and other logistics. Too many entrepreneurs do it backward, creating a solution before finding an audience. Success comes from understanding your audience first and building around their desires..
Remember the heyday of online dating with cliché profiles? Many businesses fall into the same trap, underselling themselves and competing on price. By learning to stand out and communicate effectively, you can choose your clients, set your terms, and achieve higher sales and profits. It only takes a few months to escape the bog of commoditization. Start with taking that first step, not on a moonlit beach, but towards business clarity and success.
In networking events, many describe their business in basic functional terms, which commoditizes their services. Instead, focus on the unique value you provide. “I save clients $5-10K annually on taxes” is more compelling than “I do your books.” This approach attracts higher-quality prospects and allows you to charge for the full impact of your work, improving your quality of life as a business owner.
Think delegation is just about assigning tasks? Think again. Effective delegation is an art—a strategic four-stage process that gradually transfers responsibility while increasing accountability. From hand-holding to complete autonomy, each stage prepares your team to take the reins effectively.
Take a quick look at the four stages that can change your business, allow you to free your time and transform your life.