How Come Extremely Savvy Entrepreneurs Can See Opportunity Where Others Just See Challenges?
Have you ever noticed how your (all too typical), cash starved small business owner and or service provider, will struggle mightily, trying in vain, all the traditional ways of (A.) getting the word out about their business, products and or services.
Or (B.) consistently growing their new business, without spending a fortune in order to do so. And in the process, (they/we) have a tendency to run right past potential opportunity over and over again.
In fact, what often ends up happening is, we kinda sort of only see the trees (of immediate challenges), but not the entire forest of (overall marketing) possibilities.
And as a direct result, our businesses only grows to a fraction of their true untapped potential.The ultimate purpose of this post, is to (hopefully) prevent that from happening, as often in the not so distant future. Are you okay with that?
So What Is It That Allows Extremely Savvy Entrepreneurs To See Potential Opportunity While Most Of Their Major Competitors Only See Insurmountable Challenges?
For starters, when most cash starved small business owners and or service providers, initially want or start to try and grow their businesses, they rely far too much on what they initially see on the surface of any given business situation.
And it’s that very mindset that (unfortunately) doesn’t allow them to venture much farther off the farm of, (literally) infinite marketing possibilities.
For ex: (Going back) many years, pre Internet if you will. Rumor has it, a struggling travel company CEO was totally frustrated with his companies current and previous efforts to successfully break into and capture new market share, without consistently doing so at a loss or an extreme drain on current, and some future cash flow allocations.
It seems, no matter which fancy (Madison Avenue) ad agency they turned to. Or which major (local) TV and or radio station they ran their outrageously expensive, traditional type of ads on.
The enormous up front cost, all but destroyed their chances of ever earning any type of readily sustainable gross profit margin.
And round and round they went! That is, until one day a (so called) light bulb moment occurred!
Often Times Opportunity Slips Through A Side Door So As To Avoid The Front Door Of Adversity!
And so legend has it, this particular CEO’s (initial marketing) breakthrough moment occurred, when upon arriving home from another totally frustrating day at the office, his college bound daughter, needed his or her Mother’s signature (as a co-signer) on a credit card offer, she received in the mail, from of all unlikely places, as an insert inside this particular glamour magazine she had a monthly subscription to.
(That more than likely, Mom & dad were in reality paying for! 😎 )
Once her father discovered where she got the offer from, he had a long awaited flash of ninja marketing brilliance!
And because of his unconstrained excitement, (believe it or not), he actually agreed to co-sign for one of his daughter’s first major credit cards!Here’s why he was “finally” so optimistic!
His quickly assembled his team, and (over) the next six to ten months,aggressively and strategically started approaching various credit card companies, about his companies travel business offers. And forming a possible strategic alliance (aka) joint venture.
And what they were finally able to successfully negotiate (initially), with a handful of aggressive credit card companies, that were looking for some inexpensive ways of adding to their bottom line.
These reputable, (marketing savvy) credit card companies would include some of his his companies, best market tested, extremely time sensitive,travel brochure offers, inside their outgoing mail to their paying customers. And any business the travel agency did as a direct result.
Real Business Opportunities Often Present Themselves As Temporary Obstacles!
The travel agency gladly paid the credit card companies 25% of that initial front end business! It was pure gravy for the credit card companies, because the travel agency even supplied the brochures!
(Which of over time, they of course continually tested and tweaked them, until they knew with mathematical certainty, for every 10,000 (or X) number of brochures that got inserted, they could normally expect a certain percentage of responses!) Say anywhere from 6-29%.
Which meant, the credit card company didn’t incur any additional mailing cost whatsoever!Because the inclusion of that one piece (market tested) mailer brochure, didn’t increase the overall weight of their outgoing mail!
And of course, the flip side is, the (once) cash strapped travel agency had now dramatically reduced their upfront out of pocket cost and started routinely identifying brand new first time customers, for 10 to 20 cents on the dollar!
Which dramatically increased and improved his companies overall cash flow and therefore their up front working capital as well!
Start Looking Around With New Marketing Eyes And Vision! (And You’ll Surely Discover Some Previously Untapped Marketing Opportunities Or Possibilities!
Which definitely helps, should his company ever seek any type of traditional short or long term bank financing of any kind!And all because an extremely savvy CEO, saw potential opportunity in his daughter’s credit card offer!
And that sparked a new way of seeing “how” his company could potentially identify new first time potential customers!For a fraction of the traditional cost!
Not just another potential bill to be paid! 😎 That entrepreneur, is called seeing the overall opportunity, (the potential forest) of marketing possibilities and not just seeing the (tree) or the temporary obstacle!Any questions?
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