I’m sure that you would agree that working on the right thing in your business is often the difference between success and failure.

And in today’s video, you will learn about two different skills every small business owner needs to focus on. If you do that, you’ll be hitting the bulls-eye of success more often than you miss. How’s that sound to you?



Transcript

Today we’re going to talk about a term  I recently heard at conference. I liked it so much, I thought I should do a video about it. You know my bet  is,  if  you’re  like  most business  owners, I know there are some things that you’re really good at and some things not so much. You know, Dan Sullivan calls  the  things that you’re really good about, your unique ability.  Dan Sullivan  was the founder of the Strategic Coach. The person I was speaking with calls it  two zones of genius and I liked that a lot also.

Hi, I’m Josh Patrick, the Founder of the Financial Freedom Project,  Stage 2 Planning Partners, the Sustainable Business, and I’m the author of Sustainable, a fable about creating a personally and economically sustainable business.

I’m sure that you would agree that working on the right thing in your business is often the difference between success and failure.

In today’s video, I’m going to talk about two different skills every small business owner needs to focus on. If you do, you’ll be hitting the bulls-eye of success more often than you miss. How’s that sound to you?

So here are the two zones of success:

one is how we get business, and the second is the actual work of producing business.

Now, one of those involves  marketing and the other involves innovation. The use of the two areas, Peter Drucker say, create value in the business. And Peter Drucker, who’s a founder of management theory and management consulting, was a really smart guy. His statement was:

“Only marketing and innovation produce results, everything else is a cost.”

So let’s break this down. First, let’s start with how we get business. You know the first part of getting businesses is you have to be found, people have to know that you exist. That’s called marketing. And what question I want to know is how do people find your business? What activities do you do, or what activities in your business are you doing to help people find you?

Now, the key here, and this is counterintuitive, is creating a small enough niche that has easy for people to find. And now I know you are thinking, I don’t want to create a small niche, it’s going to keep people from doing business with me. Well, the truth is – the opposite happens.

The smaller the niche, the easier it is for you to create authority in that niche, the easier it is for you to get found. This is where I think true genius slips.

Now, the second thing I want you to ask when it comes to marketing, if you have a clear vision of who your best customer is and why is he your best customer, and more importantly, what are they saying to themselves?

You know the truth is that most people who think about businesses and think about their customers really think about demographics, which is age, how much they make, where they live, what kind of business are they in? Those are things that everybody thinks about, but the genius in this, you’re building what we call it an Avatar is what is the conversation that your customers are having with themselves about problems, issues, solutions, and opportunities they  have. If you can figure out what those customers are, those conversations they’re having with themselves, you can start using that information in your messaging from marketing to your customers.

Now the next thing is is that to make a sale, you have to be or to get really recognized and people want to talk to you. You have to be unique.

Now, one of the things I really like is a thing I call the rule of three. The rule of three basically says, when you have three different things that make you unique in your business, you’re actually are unique. When you have one thing, you sound like everybody else. When you have two things, you sound like a lot of other people, but adding that third thing seems to be the magic. Let me give you an example. In the financial freedom project, we have three things that make us really unique.

Number one, I know how to value a business quickly, easily, and I’m able to do that from the viewpoint of the buyer.

Now, lots of people can do that. If that was the only thing I had to make me stand out from other people, you shrug your shoulders and probably move on, and the second thing we do is that we know how to put together a financial plan. Meaning we know how to use the after tax after cost value of your business and we know how to look at your personal expenses and say which ones are the business pain that needed to be added back into your financial plan that isn’t being done. Now, there are very few financial planners that do that, but there are financial planners to do that, but there are even less financial planners who know how to do with the financial plan properly and value the business properly.

Now, the third thing for us is what I consider the magic sauce is most people when I talked to them, are stuck in what I call Perma  five – financial freedom always seems like it’s five years away.

I ask you  today –  it’s five years away. I ask you  tomorrow – it’s five years away, I ask  you three years from now –  it’s five years away,  and I ask you to five years –  it’s still five years away. That’s because you don’t know the strategies that are available and the strategies that you should be using the create excess cashflow allow you to become financially free from your business and that’s where the strategies come in and when I put all three of those things together, I have created something that is truly unique and it’s easy for you to say, you know, if I’m thinking about financial freedom and I’m thinking about what it’s going to take me to leave my business, I’m not wanting to have a conversation that guy Patrick, he might actually know what he’s talking about.

Now, here’s the second thing you need to do is okay, I’ve got you. I’ve created some interest with you. You’ve talked with me and you say, okay, I want to do that, so how am I going to be unique and make it easy and deliver what we do? Well, for me it’s about simplification.

We were able to take this work and what would normally take people six months, seven months, eight months into it. We can do it in a matter of weeks.

Why? Because we put systems in place that are innovative, where the person who is actually working with us becomes a true partner in putting together the plan and because if this person, the people that are working with us, our true partners is easy for them to do that and that’s where you have to there. Now, by doing that, we had to systemize the business.

We had a document because if I don’t do that, it has to be me doing the work all the time.  And if I systematize and document what we’re doing, then we can have other people come and join in the party. Now, that’s the innovation that makes our company more efficient, more effective, and a better result for our clients. Now that you know there are two things that you need to do to really create some expertise and interest in your business. What are you going to do?

Well, it just scroll down, leave a comment below, let me know what you’re going to do, and while you’re at it, click on the button below. Get our Cheat Sheet for The Financial Freedom Project and you’re going to see the five stages that people go through to become financially free from their business. I bet you’re going to find that really valuable and something that would be useful for you, so thanks a lot for stopping by. I hope to see you back here really soon.

 

Topics: unique ability, financial freedom, strategy, Video, leadership, Sustainable Business, business advice, two zones of succes

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