Permission Marketing- How To Build Trust
There Are 5 Levels Of Permission Marketing That A Customer Can Grant, Each Level Increases The Business’s Autonomy And Level Of The Customer’s Trust..
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What Is Permission Marketing And Why You Should Care
In permission marketing, you can either use bait or something of value that you give away in exchange for permission to market to them or you build a reputation that breeds trust so that a prospect will buy what you recommend.
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Can You Build a Business by Giving Away Your Product for Free?
Is Free a Sustainable Business Model? Discover How Freemium Products, Ad-Supported Platforms, and Open Source Tools Turn “Free” Into Profit.
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How to Write a Longform Sales Page
When it comes to designing a longform sales page, there are three basic types of consumers of internet content: Skimmers, Scanners, and Readers. Appeal to each type with different design elements.
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Connecting With Your Audience
A business associate of mine, Ken Jaray, is an Angel investor and earned his personal fortune as a very successful trial lawyer. When I asked him what was the most significant factor that contributed to his phenomenal success in the courtroom, he replied that it was his ability to connect to the jury on a
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Critical Thinking About Macroeconomic Forces
When completing a Business Model Canvas, it is helpful to guide the discussion through the use of questions. When it comes to looking at macroeconomic forces that will affect your business model, the following set of questions should help you in thinking more critically about your business model. These questions are broken into four categories:
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Critical Thinking About Industry Forces
When completing a Business Model Canvas, it is helpful to guide the discussion through the use of questions. When it comes to looking at industry forces that will affect your business model, the following set of questions should help you in thinking more critically about your business model. These questions are broken into three categories:
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Critical Thinking About Key Trends
When completing a Business Model Canvas, it is helpful to guide the discussion through the use of questions. When it comes to looking at key trends that will affect your business model, the following set of questions should help you in thinking more critically about your business model. These questions are broken into four trends:
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Critical Thinking About Market Forces
When completing a Business Model Canvas, it is helpful to guide the discussion through the use of questions. When it comes to looking at market forces that will affect your business model, the following set of questions should help you in thinking more critically about your business model. These questions are broken down into five
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Choosing a Revenue Stream
When it comes revenue streams, they are generally either “transactional,” resulting from a one-time payment, or “recurring,” resulting from ongoing payments that deliver value or provide post-sales support. When it comes to defining a business’s revenue streams, I find it helpful to consider a list of different types of revenue streams to guide me and
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Choosing a Customer Relationship Type
The type of customer relationship that is right for your business depends on your customer acquisition costs, customer retention goals, and need to up-sell the customer on an add-on or related products in the future.
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Choosing a Value Proposition Type
When considering your unique value proposition, I find it helpful to consider a list of common value propositions to help guide me and my client’s thinking. To that end, here are eleven common value propositions that businesses might offer to their selected customer segment. Review the following value proposition types and determine which one is
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Choosing a Customer Segment Type
The first step for a new business or an existing business coming out with a new product line is to define the customer segment they are targeting. During the early stages of the process, I recommend starting out with a broad definition of the customer segment. The following is a list of five common customer
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6 Business Lesson from Howard Schultz – Starbuck’s Secret Sauce
There are many lessons business owners can learn from Howard Schultz and the Starbucks story.
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Business Lessons from Mickey Drexler – Open Communications Is More than a Slogan
Mickey Drexler hates emails and memos but loves to communicate face to face or over the phone. He prefers personal interactions so he can be sure that others are listening to him. When Drexler was hired as the new president of Gap Inc’s Stores Division in 1983, his first order of business was to fire
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How To Be The 5%
Most Americans get up, go to work, turn in an average days work effort, return home, sit on the couch to watch TV, and wonder why they are relegated to a life of financial struggle. They hate their boss and speak publicly about how businesses are greedy and take advantage of workers. They buy lottery
Why Successful Entrepreneurs Focus on One Goal and You Should Too
Most Entrepreneurs Fail Because They Chase Too Many Goals. Learn Why Focusing on One Target Can Be the Most Powerful Business Strategy You Ever Adopt.
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How Disruptive Innovation Can Help You Conquer a Market—One Niche at a Time
Discover How Disruptive Innovation Transforms Complex Markets Into Simple, Scalable Opportunities. Learn Why Starting Small Might Be the Key to Big Success.
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What Really Makes a Monopoly—and Why Most Big Companies Don’t Qualify
Explore the Difference Between Real Monopolies and Companies That Simply Offer Superior Value. Learn How Dominance, Innovation, and Market Growth Intersect.
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The Surprising Power of Small Boards in Business and Nonprofits
Many Believe Bigger Boards Are Better, but Small, Focused Boards Often Provide Better Oversight and Real Leadership. Discover Why Less Can Truly Be More.
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The Hidden Value of Crowdfunding
Traditionally, entrepreneurs had 2 options to raise funds to start their business. They could either get a loan or give away ownership to investors. Enter crowdfunding as a third option.
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How Automation Is Reviving American Manufacturing: Are You Ready to Ride the Wave?
Automation Is Transforming U.S. Manufacturing, Opening New Opportunities For Entrepreneurs To Compete In Small-Batch, Custom Markets. Learn How You Can Benefit.
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Tapping into Cognitive Surplus: How the Open Source Movement Is Changing the Game
Tapping Into Cognitive Surplus Can Unleash Incredible Innovation. Learn How Skilled Professionals Are Fueling Open Source Projects—And How Your Business Can Benefit.
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How Robotic/Automation Arbitrage Are Quietly Reshaping the Competitive Landscape
Tariffs, AI, and a Shrinking Labor Force Are Driving a New Wave of Onshoring and Automation. Discover How to Use Robotics and Apps to Stay Ahead of the Curve.
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How to Price Your Hobby and Craft Projects
Turning a hobby or a craft into a business often has a fatal flaw with scalability. Say you have a business that produces 100 units that you plan sell for $25 and it costs you $20 to produce it. As a small scale business, you are happy with a $5 profit on each piece since
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The Coming Cottage Manufacturing Revolution
The only parts that make it into the mainstream are parts that can be manufactured in the tens of thousands. These large batches then require complex distribution channels and warehousing of inventory that ties up precious capital. With small-scale 3D printers, laser cutters, and CNC machines, parts can be produced at the point of sale.
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The New 3D World – Bits to Atoms
The world of the entrepreneur has been blown wide open by 3D technology. If you have an object you need to reproduce, you can use a 3D scanner to replicate it. Don’t have one? No problem! Go to your public library or another location, such as a Makers Space. Don’t want to leave the house?
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The Meg Whitman School of Business
“The year was 1998 and eBay was little more than a glorified flea market with 6 million in sales,” recalls Meg Whitman when she became eBay’s CEO. Three years later eBay had $748 million in sales and 62 million registered users, becoming the envy of the dot-com world. Whitman attributes this growth to persistence and
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Change the Question, Change the Outcome: How Shifting Your Viewpoint Can Reveal Better Solutions
Discover how shifting the way you ask questions can lead to breakthrough solutions in business and life. One old European tale reveals a surprising truth.
Romance Is A Powerful Emotional Appeal To Get Attention
Romance is one of four very powerful emotional appeals. Discover how using romance as an emotional appeal will cause people to unconsciously stop what they are doing and pay attention to your marketing message.
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Recognition Is A Powerful Emotional Appeal To Get Attention
Recognition one of four very powerful emotional appeals. Discover how using recognition as an emotional appeal will cause people to unconsciously stop what they are doing and pay attention to your marketing message.
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Self-Preservation Is A Powerful Emotional Appeal To Get Attention
Self-preservation is one of four very powerful emotional appeals. Discover how using self-preservation as an emotional appeal will cause people to unconsciously stop what they are doing and pay attention to your marketing message.
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Money Is A Powerful Emotional Appeal To Get Attention
Money is one of four very powerful emotional appeals. Discover how using money as an emotional appeal will cause people to unconsciously stop what they are doing and pay attention to your marketing message.
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Why What Got You Here Won’t Get You There (And What to Do About It)
As Your Business Grows, The Strategies That Once Worked Might Be Holding You Back. Learn How To Identify And Replace Outdated Habits Before They Derail Your Progress.
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Thinking Big? Here’s How Scaling Exposes the Flaws in Your Business Idea
When You Scale a Business Idea, It’s More Than Just Adding Resources—It’s About Redesigning the Entire Operation. Discover How Scaling Uncovers Hidden Complexities That Can Make or Break Your Success.
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When to Let Go: What Rafting Taught Me About Life and Business
Letting Go Isn’t Always a Sign of Weakness—It’s Often a Sign of Wisdom. Discover How a Day on the River Reminded Me of the Power in Choosing to Move Forward.
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The Advanced Degree
Why More Degrees Don’t Guarantee More Dollars: Learn Why Adopting an Entrepreneur’s Mindset Is Often a Faster, Smarter Way To Grow Your Income.
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The Final 4 Principles to Influence a Sale (Scarcity, Likeability, Indifference, & Commitment)
Over the past three days, we discussed the first twelve principles to influence a sale from the book, “Rain Making Conversations,” written by Mike Schultz and John Doerr. Today, we will cover the last 4 principles. 13. Scarcity – “Buy it now! Only 2 left!” is a phrase we often hear. Scarcity is the most
Another 4 More Principles to Influence a Sale (Stepping Stones, Ownership, Involvement, & Desire for Inclusion)
Over the past two days, we discussed the first eight principles to influence a sale from the book, “Rain Making Conversations,” written by Mike Schultz and John Doerr. Today, we will cover the next 4 principles: 9. Stepping Stones – People are more interested in things they are familiar with. A good salesman takes the
4 More Principles to Influence a Sale (Emotional Journey, Belief, Justification, & Trust)
Yesterday, we discussed the first four principles to influence a sale from the book, “Rain Making Conversations,” written by Mike Schultz and John Doerr. Today, we will cover the next 4 principles. 5. Emotional Journey – As we pointed out in the blog, “Stories to Create a Great First Impression,” a goods salesman is a
4 Principles to Influence a Sale (Attention, Curiosity, Desire, & Envy)
Have you ever wanted something so badly that you would do anything to get it? That feeling does not happen overnight; a sales process created that yearning inside you. In their book, “Rainmaking Conversations,” Mike Schultz and John Doerr list 16 ways to make your customers reach that level of desire. Over the next 4
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Why Successful Entrepreneurs Avoid Their Peers (And What You Can Learn From Them)
Discover Why Ambitious Business Owners Seek Out Those Further Along the Journey and How You Can Do the Same to Elevate Your Mindset and Results.
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Think Twice: Why Your First Business Idea Might Not Be Your Best
Nothing Is More Dangerous Than an Idea When It Is the Only One You Have. Learn Why Smart Entrepreneurs Always Seek a Second Answer and How to Use Tools Like the Business Model Canvas to Explore Better Solutions.
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Unlocking Creative Genius: The Power of Seeing Things Out of Context
Creativity Often Emerges When We Remove Things From Their Expected Context. Learn How Shifting Your Perspective Can Lead to Innovation and Surprising Breakthroughs.
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The Raw Power of the Internet Makes Everyone Equal
Jonathan Labed was 14 years old when he realized that there was a hazy line between perception and reality on the internet. It was 1999 and he was watching CNBC. He suddenly realized how after an analyst touted a particular company’s stock, the stock price would rise. Seemed simple enough so Jonathan, an internet savvy
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Boost Your Brainpower: How the Right Music Can Enhance Focus and Performance
Discover the Truth Behind the Mozart Effect and How Your Favorite Tunes—Not Just Classical Music—Can Boost Brainpower. Learn What Science Really Says.
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Macroeconomic Forces and the Business Model Canvas
The next and final environmental forces block is “Macroeconomic Forces.” This section is used to determine if your business model can adjust to macroeconomic shifts. This is where keeping up with current events is important. In addition to watching the world and local news programs each day, I use an internet news aggregator that searches
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Industry Forces and the Business Model Canvas
The next environmental forces block is “Industry Forces” and this section is used to determine if your business model will have a competitive edge today and tomorrow. To understand industrial forces, you need to assess who your competitors are. A tool called Data Axle Formerly called Reference USA (available at many libraries) is a valuable
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Key Trends and the Business Model Canvas
The next environmental forces block is related to key trends. The “Key Trends” block is used to evaluate if your Business Model Canvas takes advantage of emerging market trends. Are there any new technologies on the horizon that may undercut your business model? Don’t just look at the advances in your industry that may affect
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Market Forces and the Business Model Canvas
The first environmental forces block is related to the market forces of the customer segments in your Business Model Canvas. The purpose of the “Market Forces” block is to verify that your model is in line with the evolving needs of your chosen customer segment. When you are looking at market forces, you should start
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Four Environmental Forces Affecting Your Business Model Canvas Design
When you have completed the 9 blocks of the Business Model Canvas, you may have a well thought out business model. However, will it stand up in the real world? In the real world, your business will compete for market share and fight for survival every day. For the most part, the 9 blocks that
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The Overlooked Exit Plan: How to Use an ESOP to Sell Your Business and Leave a Legacy
Many Baby Boomer Entrepreneurs Are Exploring Exit Options—But There’s One Strategy Few Consider. Discover How Selling Your Business to Employees Through an ESOP Can Help You Cash Out and Preserve Your Legacy.
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Detecting Facial Clues for Better Sales
Facial recognition is something hardwired into everybody and has been honed through millions of years of human evolution as a way to survive. Prehistoric man had to pick out a face of predators from the background or detect if his prey was looking at him while hunting if he was going to survive. The ability
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How Government Programs Limit Freedom—and What Entrepreneurs Do Instead
As society moves toward guaranteed security, we risk losing something far more valuable: the freedom to choose. Embracing risk—like an entrepreneur—might just be the antidote.
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How to Make a Good Impression at Network Events
Networking events for me are not about selling, but about listening and gathering intelligence. Networking is about making a great first impression, meaning you have to stand out and be memorable. You will be viewed as a great conversationalist at networking events if you resist the urge to sell and get the other person to
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How to Stop the American Industrial Revolution
The federal government killed the Industrial Revolution by squelching successful entrepreneurs such as JP Morgan, JD Rockefeller and Andrew Carnegie and spinning a story for its own political gain
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More Lessons from the International Financier JP Morgan
JP Morgan Was an International Financier and A Titan of Industry Whose History Contains Many Valuable Lessons for Small Business Owners.
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More Lessons from the Steel Baron Andrew Carnegie
This is part 2 in the series on Andrew Carnegie. For the full text see Valuable Business Lessons from the Steel Baron Andrew Carnegie Knowing that steel would revolutionize the construction industry, Carnegie went to his mentor Thomas Scott to help him raise the capital needed to build his own steel plant. His steel plant
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More Lessons from the Oil Magnate JD Rockefeller
JD Rockefeller Was an Oil Magnate and A Titan of Industry Whose History Contains Many Valuable Lessons for Small Business Owners.
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More Lessons from the Railroad Titan Cornelius Vanderbilt
This is part 2 in the series on Cornelius Vanderbilt. For the full text see Valuable Business Lessons From The Shipping Tycoon Cornelius Vanderbilt With the emerging Industrial Revolution, Vanderbilt saw that the railroad business was the future and would soon replace much of the ferry business. He began a campaign to take over the
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Why One Big Client Can Destroy Your Business—and What to Do Instead
While It’s Tempting to Pursue a Flagship Client, Putting All Your Eggs in One Basket Can Spell Disaster. Discover How Diversifying Your Customer Base Protects Profits and Ensures Long-Term Sustainability.
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Stage 4: The Guardians of Business
When a business advances from stage 3 to stage 4, the business transformation is nearly complete. During stage 4, company decay can often begin to set in as the administration of the business is placed in the hands of a “guardian.” The primary motives of the business guardian are comfort and security. Unity towards a purpose
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Stage 3: The Athletes and Performers of Business
For a business to advance from stage 2 to stage 3, the business undergoes a substantial shift from being on the offensive and growth-oriented to becoming more defensive and focused on process improvement through business segmentation. The business segmentation associated with stage 3 sets up the business for shared leadership and management by creating multiple
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Stage 2: The Generals of Business
For a business to advance from stage 1 to stage 2, the business requires that the role of the Oracle be supported or replaced by a business development person. I refer to this new leader as the “General.” In our McDonald’s example from a previous post, it was a guy by the name of Ray
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Stage 1: The Oracles of Business
Stage 1 encompasses the pre-start-up and early start-up period of a business. A company is started by a founder who is essentially the idea person behind the business. I refer to this person as the “oracle. In classical antiquity, an Oracle is a person who can see and predict the future. The Oracle of a
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Federal Government Overreach
As the federal government grows, it creates incredible drag in the economy. Federal agencies were initially enacted to protect the consumer from bad actors but has expanded its reach to protect the consumer from the consumer. Each time some undesirable event occurs, it creates an imperative to create yet another federal agency. Once created, these
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How to Use Stories to Create a Great First Impression
There is a lot of information about the personal side of making a good first impression, such as how to dress, a firm handshake, and so on. However, too few people focus on what makes the encounter both memorable and shareable with others. Great stories use mental imagery and associations such as similes, metaphors, and analogies as well as emotional appeals to make them memorable.
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Climate Change Spurs Innovation
Climate change has been blamed on our overuse of fossil fuels and pegged as the leading cause of the inevitable doom of our species. However, climate change in the form of ice ages and droughts has occurred many times during the period of mankind. Climate change has even led to some of our most important
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Why a Plastic Tonka Truck Taught Me More About Leadership Than a Business Book
Sometimes Innovation Looks Like Regression—Until You Look Closer. A Childhood Toy Visit Sparks a Powerful Lesson About Continuous Improvement in Business.
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Business Confusion About Taxes, Vocabulary, and Acronyms
One of the most confusing issues facing many newbie business people is related to the confusion and frustration related to taxes, vocabulary, and acronyms.
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Hacking Human Behavior: How Choice Architecture Shapes Better Decisions
How Do Hotels Get You to Turn Off the Lights Without Nagging? Through Smart Design. Discover How Choice Architecture Shapes Customer Behavior—Without Saying a Word.
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A Strategy to Lower Income Taxes
The Federal Debt as of Jan 2021 is nearing $28 trillion with another $1,9 trillion stimulus bill being considered. When I wrote this post initially in 2015 the federal debt was about to cross $18 trillion. What does a nearly $30 trillion debt have to do with me? It is not my debt. Someone else
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Why Finding a Better Path to Your Customer Beats a Bigger Budget Every Time
Discover how a small upstart with just $1 million in venture funding beat billion-dollar rivals through smarter strategy and customer targeting. This timeless business lesson shows how finding a better path to your customer can change everything.
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The Secret to Better Sales
Do you constantly search for techniques, tricks, and gimmicks to sell your product or service to your customers? If you are looking for techniques, tricks, and gimmicks, it will most likely not help because people hate to be sold something. However, they do love to buy. While it may seem like simple wordsmithing, the conceptual
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Pronghorn Dogfight – Lessons for Small Business
As I write this post, it’s about 7:00pm and I’m sitting on my back deck with a cocktail in hand, looking across a meadow punctuated with scrub oak clusters. I can see seven pronghorn lazily grazing. It is not mating season, but a large buck is not very happy with the presence of a small
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Value of Due Diligence
Don’t Let Excitement Override Caution When Buying a Business. Discover Why Due Diligence Is Your Most Valuable Tool—and How It Saved One Buyer From Disaster.
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Forget the Diploma: What Entrepreneurs Really Need to Succeed
Most Entrepreneurs Don’t Credit School For Their Success. It’s Focus, Grit, And Learning By Doing That Truly Define The Entrepreneurial Journey.
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Your Best Chance to Succeed in Small Business
The other day I was asked if a person’s idea would make a good business. Unfortunately, I had to tell them that it would not be a good idea for them to pursue. While the idea might have been a novel and been a successful venture in the right hands, they didn’t have access to
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Public Schools Are Broken
We all know that schools exist to teach our kids. However, what they teach may not be what you think. The first schools in America were created in New England and primarily taught religion. However, while schools have evolved to teach reading, writing, math, and science, they still teach values to our children. Classrooms have
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Using Your Peripheral Vision to Spot Opportunities
I have a year and a half-year-old pedigree German Shepherd. He is a pretty good looking male with a great temperament towards people and other dogs. This temperament is rare among many German Shepherds because they are often good with people, but less so with other dogs. A friend and colleague of mine also have
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Customer Relationships and Your Business Model
Customer relationships can be either; face-to-face (like buying a car), phone (like Zappos), automated system (like Dell), or self-service (like WalMart).
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Channels and Your Business Model
When we refer to channels in the Business Model Canvas, we are speaking about marketing channels or distribution channels. Here are 5 you should address: 1, Awareness 2, Evaluate 3, Purchase 4, Deliver 5, Customer Support
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Value Propositions and Your Business Model
The second step in creating your Business Model Canvas is to identify your value proposition. What is a value proposition? Simply put, a value proposition is a collection of products and services a business offers to meet the needs of its customers that helps to differentiate it from its competitors. For example, several manufacturers offer
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Customer Segment and Your Business Model
“For whom are you creating value?” Sometimes that answer may be a bit complicated.
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The Business Model Canvas Series
The Business Model Canvas is a strategic management and lean start-up template that a business can use when developing new or documenting existing business models. Basically, it is a visual representation that describes the nine critical elements of a firm’s product or service offerings.
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Why Middle-Class Money Beliefs Keep You Stuck (And How to Break Free)
Most People Are Taught To Work Hard And Budget Wisely—But That’s Not How The Wealthy Build Real Wealth. Discover How To Break Free From This Middle-Class Trap.
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The Entrepreneur’s Hack: Using Commitment Devices to Overcome Procrastination
Learn How Simple Behavioral Hacks—Called Commitment Devices—Can Help You Overcome Procrastination, Finish Dreaded Tasks, and Achieve Your Business Goals.
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Thick Market vs. Thin Market – What You Need To Know
In thick markets, you have a lot of competition and limited differentiation while in thin markets you have limited or no completion based on product or service differentiation.
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The Timeless Power of Starting Something New on a Landmark Date
A Decade Ago, I Wrote About Using Fresh Start Dates—Like Birthdays—To Launch New Habits. Now, at 65, I’m Revisiting That Wisdom With Even More Appreciation for Its Power. Here’s Why the Timing of Your Commitment Matters More Than You Think.
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The 4 Questions Every Business Must Ask Before Launching a Product
Before You Build It, Ask These Four Market-Cracking Questions. Many Entrepreneurs Fail Because They Skip This Simple but Crucial Step in Product Planning.
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How to Learn Demand: Zappos Story
A fellow mentor who is an expert in retail once shared with me that opening a shoe store is one of the riskiest businesses to start and operate because there are so many bad assumptions you can make. In a typical main street brick-and-mortar shoe store, you have to select and stock the proper proportions
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Why Testing Leap of Faith Assumptions Can Save Your Business (and Billions in Tax Dollars)
Test Your Leap Of Faith Assumptions Before You Scale. Learn How A Faulty Assumption Behind Obamacare Led To Higher Costs—And What That Means For Your Business.
The Real Drivers of Job Satisfaction: Growth, Autonomy, and Connection
Discover Why Employee Job Satisfaction Isn’t Just About Money. Learn How Growth, Autonomy, and Social Connection Play a Bigger Role in Boosting Performance.
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How to Structure Your Day for Peak Creativity, Energy, and Focus
Avoid Wasting Your Mental Prime on Email. Learn How to Align the Right Tasks With the Right Time of Day for Better Productivity and Creative Breakthroughs.
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How Nokia Shook Things Up to Spark Innovation—And What You Can Learn from It
To Break Silos and Drive Innovation, Nokia’s Leadership Team Challenged Norms by Swapping Roles, Holding Meetings in Wild Places, and Embracing Calculated Chaos.
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Business Lessons From William Boeing -Facts and Science Rule
William Boeing never said “it can’t be done” Instead he believed that decisions should be based strictly on fact and not opinions
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Is Your Business Focused on the Right Things?
Business Management Is Often Not Focused On The Right Elements Of Success. Sometimes You Have To Suspend Your Belief Systems To Reevaluate Your Business
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Don’t Be a Gold Digger – Why You Need To Be Main St. Instead
Want to Strike It Rich? History Shows That Chasing Gold—or the Next Big Startup—Rarely Pays Off. The Real Winners Weren’t the Prospectors, but the Main Street Businesses That Sold Them Tools, Food, and Shelter. Today, the Same Lesson Applies—While High-Risk Startups Get All the Attention, the Smart Money Is in Steady, Reliable Businesses That Support Them
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Why Trade Associations Are Your Business’s Best-Kept Secret
Trade Associations Offer Far More Than Just Networking Opportunities. From Group Health Plans to Benchmarking Tools, Membership Can Deliver Massive ROI for Startups.
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How to Harness Peer Pressure for Effective Marketing
Many studies have been performed that look at the role peer pressure has on our decision making. People desperately want to fit in so much so that they often times will ignore their own opinion just to be part of the crowd. No one likes to be wrong, but it is far more acceptable to be wrong with a crowd than be wrong on your own.
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