Why Practically Every Business Or Service Has Hidden Resources Or Assets!
(You Can And Definitely Should Be Monetizing!)
When you stop and consider all of the ongoing costs practically any on or offline business owner or service provider has. You can petty much rattle off a laundry list, correct?
However, when asked to create even a relatively small lists of far less obvious hidden resources and or assets. Most entrepreneurs, especially startups often seem to struggle. Have you noticed this all too common occurrence too?
Truth is once you actually take your creative marketing blinders off. And start to realize and appreciate all or at least some of the not so obvious resources or greatly under utilized assets or resources you already have direct or indirect access to.
You also begin to appreciate how and why your business or service can scale. (In some small instances rather exponentially.) Without relying heavily on the all too common traditional means or methods. Have a closer look and you be the ultimate judge, fair enough?
With The Right Strategic Marketing Plan! (It’s Really Less Important Where You’re Actually Starting From!)
First of all it’s probably best if right out of the gate you widen your current definition of assets and or resources. Because hopefully you can appreciate the types of non traditional assets or resources being considered here. Entrepreneur they may or may not be found on your balance sheet.
Where as your local banker, credit union rep nor a potential private investor or private investment group may not necessarily value your current or future contacts or connections etc.
This could potentially have an extremely positive impact on your current or future cash flow. Likewise both your current and future vendors. They have current and future employees, current and future customers and current and future vendors assets or resources.
By extension you and or your major competitors may be able to systematically leverage over time. Strictly for hypothetical marketing illustration purposes only.
Let’s say you run a local, non franchised moving company. And you currently have a total of five trucks. And one of the local, non franchised retail furniture concerns has recently become one of your top JV (Joint Venture) partners.
Far Too Many Profit Seeking Entrepreneurs Take For Granted The Many Potentially Valuable Hidden Resources And Or Assets They Have Direct Or Indirect Access To!
And over the last five years they’ve built an impressive opt in email list of 23,743 subscribers. (Even after 7.5% of them for whatever reasons have unsubscribed.)
Now they can periodically. Say once every 90 days or so. They could email their subscribers. Making them aware you’re moving company is running specials. Which although the offers are extremely time sensitive. These special offers are only exclusively available to the subscribers of the retail furniture concern.
And of course the reverse is also a marketing possibility. Meaning, the moving company, provided they’re marketing savvy enough to be systematically building their very own opt in email list as well. They could periodically email their subscribers.
Alerting them for an extremely limited time. They can purchase furniture at a discount on a sliding scale. Because simply for dragging a friend with them, whose at least 18. Before the ten or X day expiration date window expires. They can save X% plus.
Entrepreneur Don’t Discount The Ongoing Effort Constantly Needed To Consistently Generate First Time Customers!
Whether you currently realize or appreciate it or not. Your current vendors. They have invested quite a bit of time, money, effort and resources to generate their current customer base. Some of their ad campaigns didn’t work. Some started out profitable but eventually stopped working altogether.
Meanwhile their money is still gone, correct? And no matter “what” they just like the rest of us have inactive customers. And whose to say whether one of your low hanging fruit products or services.
Could be just the extremely time sensitive bonus they need. In order to ethically bribe them to re-activate. Or vice versa.
They may have a service, product or resource. Which would be or quickly become extremely beneficial to your inactive customers. And not only cause them to come back. But enthusiastically cause them to drag a friend whose at least 18 with them.
They might have proprietary ad or email campaigns. Or proven telephone scripts. Or proven lead generation strategies or tactics. You could either license or barter for access to. Could you not?
Maybe they or you have excess unused warehouse space or dramatically under utilized trucks, sales reps or unused local newspaper or local throwaway guide unused advertising credits etc. Or maybe they have unused local TV or radio ad space.
Start looking around with your creative marketing eyes. You’ll be surprised “what” you’ll start discovering. Hopefully this incredibly short list of possibilities. Has opened your marketing eyes extremely wide, to why practically every business or service has hidden resources and or assets. They can and definitely should be monetizing. Don’t you agree?
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