Why You Should Definitely Stop Under Valuing The Hidden Assets In Your Business Or Service! Part Two
Often when you’re just stating out. And you haven’t quite developed all of your marketing swag just yet. It’s really easy and all too common to either neglect, ignore or not even be totally unaware of the potentially profitable hidden assets or resources.
Which may be currently buried in your cash challenged business or service. Of course as your eyes (either skim!) or actually read and fully embrace “what’s” written here.
You probably find it extremely hard to believe your new or semi new venture has any type of established or potentially valuable resources or assets you could probably monetize in any meaningful way, correct? But rest assured entrepreneur. Provided you’re truly open to providing some type of value to someone in some meaningful way.
You can ultimately monetize such plentiful arrangements. But initially you may need to be the all important bridge (aka) connector for two non directly competing vendors.
And initially your pay off is learning “how to” initially spot and strategically bring these two profit seeking entrepreneurs together. Then in the not so distant future start routinely being compensated in various forms for your proven expertise, connections, assets and or resources etc. Look at you now. You’re definitely own your way, correct?
Helping Other Non Directly Competing Entrepreneurs Develop Their Long Term Customer Acquisition And Retention Strategies Is Definitely An Evergreen Opportunity!
Again strictly for hypothetical marketing illustration purposes only. Let’s begin with a macro marketing example. Then take a deep breath or two. Step back and see some of the far more likely low hanging fruit marketing opportunities and or previously untapped, long term marketing possibilities.
As you recall in part one. Kevin Harrington (the guy featured in the short promo video below) is a former original cast member of ABC’s runaway hit TV series “Shark Tank.” Which BTW is in it’s 13 season and counting.
He’s also credited with personally helping at least 20 different companies all over the world (so far!) reach or exceed the $100 million dollar mark in annual or total gross world wide sales.
Not to mention the countless others who’ve reached or exceeded the eight figure mark in annual or total gross sales volume.
And as if this isn’t impressive enough. He’s also credited with being the godfather of today’s modern infomercial business model(s.)
So How Does Or Would A Local Business Owner Discover And Monetize Their So Called Hidden Assets Or Resources?
That’s a great question entrepreneur. And I’m so glad you finally decided to ask it. First let’s take an incredibly simple and all too common example. Let’s say it’s announced both in the local paper and all over the local news. Plus constantly being mentioned all over social media. The one and only Apple is opening yet another store somewhere in the US.
Which you know the extremely large crowds of Apple enthusiasts will literally be lined up around the block, correct? So “how” could your local, single location, non franchised gourmet coffee shop also leverage and benefit long term such local events? (No matter which major company is announcing the opening of a new store in your local area.)
Well, why not plan ahead and anticipate there could easily turn out to be a few thousands who wait in line to get access to Apple’s latest technological mastery.
So what if you or one of your major competitors show up in a rented by the day mobile truck. Like the the ones you see parked downtown where all of the office and state workers hangout during their breaks.
And you serve every gourmet coffee lover one of your incredibly popular Xtra Large “Big Gulp” beverages of their choice. Typically they would cost anywhere $7.79 – $9.79 per cup.
Who Says You Need To Waste A Small Fortune Trying To Generate Your All Important First Time Customers?
But since this is definitely a long term marketing strategy on you or your major competitors part. What you do is serve them one free cup per person standing in line. And have your staff hand these individuals an envelop with the words “You Definitely Deserve This!”
Written in big, bold red letters music legend Stevie Wonder couldn’t miss.. And tell them going forward.
Every time they bring the “Big Gulp” cup back with them. They only pay $1.99- $2.49 per cup. You know a certain percentage of these gourmet coffee and gourmet cocoa or other exotic beverage lovers will not only be frequently returning to your store. But they’ll also be purchasing some of you other goodies and gladly paying full retail price to do so.
Just Because You Can’t Point It Out On A Profit And Loss Statement Or Balance Sheet Doesn’t Automatically Mean You Can’t Monetize It!
Plus, they will be encouraged to constantly blast out all over their social media accounts, for an extremely limited time. Like say the next 72 or X number of hours only. Every local who shows up to you or your major competitors gourmet coffee shop.
And provides proof they got the message from a friend, co-worker, neighbor, in-law, sibling or whatever. And they mention extremely time sensitive offer number blank. Guess what? You or you major competitors will honor your almost exact same offer.
Your twist being their very first Xtra Large “Big Gulp” beverage will only cost them $.199- $2.49 per cup from now on. So you know they too will be constantly bragging and texting like crazy. Wouldn’t you?
And each group will have the next 72 or X amount of hours to generate some positive word of mouth and mouse buzz for you or your major competitors. So for the non franchised gourmet coffee shop. Their initial hidden assets is their ability to spot and benefit from some previously untapped marketing opportunities. Don’t you agree?
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