The Blind Spot In Your Business
When Ron walked into my office, I could tell he was nervous.
When we set the appointment to create his strategic plan together, I could tell that he was excited about his business’s potential but frustrated that he wasn’t reaching it on his own. After three years his head was above water but he wasn’t anywhere near his dream company.
Since most of my clients are in that same boat, it wasn’t a big deal for me and I did my best to assure him that if he had the goals, we’d find the path to them together.
“In five years, I want to be at $350,000 in revenue,” Ron told me, “And someday I want to make $1million in sales in a year.”
Ron’s leg started twitching as soon as he told me that and I could tell he was getting agitated thinking about his goals. When I asked how he felt about them, he confessed that he really wanted to achieve them but they seemed so out of reach at this point, he wondered if he should lower them until he felt comfortable.
“Let’s not lower them yet,” I said. “Maybe we can find a way to hit them.”
In the next hour, Ron and I systematically took apart and examined his business model and marketing approach.
What jumped out amazed both of us.
Ron had met with some very high-powered prospects but each had turned him down. As I looked at his offer, it was clear to me why they were rejecting him. We talked about his business for a minute and the light bulb went off for him!
We found a way to give away a product he had been trying to sell and charge for it on the backend instead. It was the classic, “give them the razor and sell them the razor blades” strategy and using it meant that Ron could hit his $1million goal in just under three years.
Ron called me the day after our meeting to tell me he had met with another big-shot prospect. This time, using his new approach, the prospect fell in love with the program and is looking forward to rolling it out to his over 2000 employees.
What is the moral of this story?
We all have unseen areas of profit in our businesses.
Unfortunately, we are also too close to our work and our way of doing things to be able to see them clearly. Whether it is marketing processes, people assessment or production, every business has blind spots.
If you want to hit your goals in 2017 and beyond, consider hiring someone to evaluate your business from the outside. Whether it is from a consultant, coach or peer advisory board, get an outside perspective.
It is a scary proposition to show someone the good, bad and ugly of your company but once you do, and you realize how easy it is for them to help you grow, you’ll wonder why you waited so long.
If you need a recommendation for someone to work with you, I’m happy to have a conversation and make a referral if you need one. I know some of the best folks in the business.