Walt Goshert » Marketing Strategy

Steal Warren Buffett’s Success Secret

Walt Goshert — Thu, 01 Apr 2010 17:38:20 +0000

For all too many years I was sooo bad at this concept that I lost thousands of dollars, maybe (much) more.

(I try not to think about it.)

I was wasting my time.

I was taking action on the wrong tasks.

I was leaving a ton of money on the table.

And even worse than that, I had no clue I was making this error.

Let me flip the coin on the other side.

Warren Buffett is the 2nd richest man in the world.

He’s amazing.

At ONE thing.

INVESTING

He’s average, or completely sucks at doing hundreds of other things.

Stick with me here…

(Remember… ‘Circle of Competence’, more on this in a minute)

I’ve read bios and watched countless interviews with and about Warren Buffett, each of them make this point.

One of his keys to massive success. (Tiger Woods shares this strategy. Well… on the golf course at least.)

Imagine a box. In this box throw in all your strengths and talents. Things you love to do and are good at.

Natural strengths of yours.

What if you spend 70% of your time doing activities and using talents that fell into that box?

Do you think your results would increase?

Now… let’s talk about ‘Circle of Competence’…

Warren Buffett ALWAYS mentions that one of his KEYS to success is this concept.

Warren spends a ton of time working in his core competencies and strengths.

Things he’s good at.

Remember how I started this article. I said how much money and time I was flushing down the toilet.

It’s because I was spending a TON of time in areas that I was weak at, not strong.

Success Key:

Grow Your Strengths, Manage Your Weaknesses.

When I realized this and started spending more time in areas I ENJOY, my income skyrocketed.

Ask yourself:

Where are you strong?

What are your talents?

What are your natural strengths?

How can I spend more time in my ‘talent box’?

Warren Buffett, Tiger Woods, Oprah, they’ve all excelled at a huge level because they spend more time than most in areas they LOVE and enjoy.

Never doubt yourself, YOU have talents and natural strengths. Take some time to think about it.

Take ACTION to analyze and discover your strengths.

When you work from your strengths, you’ll separate yourself from your competition, have more fun in your business…

… and naturally Attract More Clients.

Yes, you have a special gift…

Are you using it?

Learn how to spend time doing what you love… and make more money.

_______________________________________________

Now… Here’s my FREE Special Gift for YOU…

A Special Report/Workbook (Previously sold as an e-book to home improvement and financial services pros for $49) … No Opt-In, No Obligation… Click the link … Boom! You got it!

PLAY TO WIN: The Secret to Building a GREAT Business…

Discover Your Strengths

Steal the Success Secret that Warren Buffet, Tiger, and Oprah practice.

P.S.— Inside Play To Win you’ll find four fun, yet powerful business-changing exercises…

PLUS… Two Revolutionary Resources to help you discover your talents and leverage them as strengths in your business and your life.

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More stuff on Warren Buffett:

Warren Buffett! WTF? (dvorak.org)
Who Is Warren Buffett? (seekingalpha.com)
Welcome to Buffett’s New Normal (online.wsj.com)
If Warren Buffett is Doing Web Video, Why Aren’t You? (bulletproofblog.com)

It’s Not a USP. It’s Your Winning Difference

Walt Goshert — Tue, 30 Mar 2010 14:39:20 +0000

In the New Economy, the same old USP… Unique Selling Proposition… isn’t gonna cut it.

Today, you need to discover Your WINNING DIFFERENCE.

Up-Front Warning: While you’ll discover your WINNING DIFFERENCE… and why your local business MUST have one… you’ll have questions. It’s up to you to answer these questions. No one else can answer them for you and your business.

Up-Front Promise: If… and when… you step up and answer your questions about your business with a clear focus and purpose, your Internet Marketing, Website Marketing, Search Marketing… ALL your Marketing… becomes a whole lot less stressful, much more effective because finally you experience marketing that works.

Marketing that Works means more sales, more happy, satisfied customers, better cash flow, and more money in your pocket..

Less of what you don’t want.

More of what you truly want from your business.

OK…

Let’s dig in.

What’s a Unique Selling Proposition?

Well, let’s look at each of the words, with an eye on marketing …

1. Unique— It clearly sets you apart from your competition. You offer a product, service, emotional experience/feeling that your competition, does not, can not, or simply will not offer. You… and only you… offer this to your prospect.

2. Selling— It triggers emotions and persuades your prospect to exchange money for your products/services.

3. Proposition— It’s a proposal or offer that you suggest to your prospect.

Three simple words. Yet so much more.

Put together, they are the forces that drives your business and success.

How powerful can a USP be in marketing your business?

Let’s look at two powerful… and two of the most successful USPs ever devised.
The first one, a ten word sentence that transformed the life of a struggling college student into a billionaire. It changed the very face of the pizza business, setting a new standard for pizza delivery:

“Fresh, hot pizza delivered in 30 minutes or less, Guaranteed.”

Another 9 words that turned a failing college business idea into a world leader in delivery:

“When it absolutely, positively has to be there overnight.”

These clear, concise, powerful sentences carried Domino’s and FedEx to the top of their industries.

Powerful words turned into powerful marketing forces.
The power of words and a simple sentence to describe your unique business difference is…

Your Most Valuable Marketing Asset

Yes, that’s right…your Unique Selling Proposition, or the USP, is the very core of your marketing strategy.

Your USP sets you apart from your competition and makes you unique. In a same and lame over-crowded market place, where consumers are bombarded with messages…

It’s your WINNING DIFFERENCE

You see…your Unique Selling Proposition Must Answer These Two Questions:

1. Why do people buy from you?

2. If they aren’t buying from you, why should they?

Not only that…your USP must also:

1. Differentiate you from any and all competition
2. Emphasize a desirable and positive client benefit
3. Be easily understood
4. Be used repetitively in your marketing efforts and become integrated through out your company’s culture.
5. Create an Immediate Emotional Connection that makes people want to do business with you – IMMEDIATELY!
6. Elicit the response from the prospect, “Whoa!! How do you do that?”

Is a USP a Mission Statement?

Nope.

Here’s why:

Think about it… Do your clients and prospects really care about your mission statement, how many years you have been in business, or that you just built a new building?

ALL your clients and prospects care about is what your product or service will do for THEM.

What problem will it solve, or what need do will it fill?

Let’s go back to FedEx.
Do you care that it is their mission to be the number one overnight carrier in the country, or do you care that they won’t lose your package and that it gets there the next day?

Here’s the bottom-line… and why your USP is your Most Valuable Marketing Asset:

When you have a powerful, effective Unique Selling Proposition, creating a compelling marketing message to use in your advertising, direct mail and other marketing tactics all falls into place.

And if you don’t?

My bet is your marketing pretty much sucks… and selling your product or service is damn tough going.

Why a USP is More Crucial Than Ever?

Noise.
It’s like we’re all standing in the middle of Times Square, bombarded with the same and lame, “me-too” marketing messages.
There’s no escape.
TV, radio, billboards,newspaper and magazines, direct mail, banner ads, pop-up ads, Google ads. 24/7/365.

Your challenge is to cut through all the advertising noise and clutter and create top-of-the-mind awareness with your Ideal Prospects.

Sadly…

Most All Marketing Fails

Why?

Simple.

Most marketing sucks.

Not a little.

A lot.

Take these tests and prove it to yourself.

Next time you’re all cozy and curled up on the sofa, watching TV with remote in hand…

How quickly you click that remote when a commercial comes on that doesn’t interest you? Better yet, can you remember a TV ad that actually did interest you?
Ok… you’re driving along, listening to the radio. The song ends and a commercial comes on. How quickly do you change the station?
When you’re reading the newspaper or your favorite magazine…

Do you even notice the ads, or has your brain instinctively programmed them out?

Now, you’re a marketer and you’re ignoring all the ad noise.

Imagine what your prospect does?

How can you expect to be heard simply by adding to the noise?

You Gotta Do Things Differently

It starts with understanding these marketing fundamentals. It begins with your unique marketing message.

What message do you need to convey to prospects and clients that breaks through and pierces their preoccupation and even resistance?
How does your unique difference appeal emotionally, directly to your prospects needs and wants?

Here’s the thing…

In this busy, noise-filled world, more than ever, people hunger for superior results from the products and services they use.

People are busy. They’re jaded, guarded, and skeptical. Some are cheap and down-right rude. Lots of folks have no time, no patience, and little interest in what you’re selling.
As a result, lots of businesses give up, especially now with the economy stuck in slow-down mode, because they simply don’t know what to do next.

In their gut, they know they need a different approach, but they don’t know what that approach is or how to make the shift.

Lots of small business owners fall into a trap.

They overlook the essence, and under-estimate the impact, of exceptional marketing… and how exceptional marketing positions for exceptional selling.
Often times, doing this marketing thinking and innovation is pushed aside in favor of less important, less productive (yet more familiar and more comfortable) duties.

Guarantee Your Place in Your Market

If you’re unique, if you add value that your prospects want that your competition does not offer, you’re almost guaranteed to outperform and out distance your competition.
“Me-Too” businesses are a dime a dozen and easily replaced. The days of competing on price and service are over. Every one can make these claims. A competitive price and good service is expected.

Adopting a Unique Selling Proposition forces you to be clear and define exactly what advantages your clients can expect when they choose to do business with you.

Nailing Down Your USP… Your WINNING DIFFERENCE,,, doesn’t cost you any money

It does require an investment of time and clear-headed, honest, realistic thinking about your business.
Time and thought well spent and wisely invested.

So, there you have it…

What’s a Unique Selling Proposition… Your WINNING DIFFERENCE… and Why You Need a USP in Your Local Business Now More than Ever.

Ponder these words from Peter Drucker.

“Because the purpose of business is to create a customer, the business has two- and only two- basic functions: marketing and innovation. Marketing and Innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”

You see, when your business is positioned and focused upon marketing and innovation. you produce results.

Results are the WINNING DIFFERENCE.

What’s YOUR WINNING DIFFERENCE?

Flickr Phot Credit:ODHD

Do your VP, USP and UBA give you an unfair advantage? (prolaunchmanager.com)
60 Day Marketing Renovation (slideshare.net)
5 Tips to Optimize Your Business Card (conversationagent.com)
Instant Growth : 7 Steps To Create And Execute Your Profitable Internet Strategy (slideshare.net)

It’s Monday: Just Working for a Living?

Walt Goshert — Mon, 22 Mar 2010 12:11:59 +0000

Are you stuck “working for a living” in your local business?

Some entrepreneurs and professionals become workaholics because they get confused. They mistakenly picked their business, because they’re interested in the product/service or the promise of big bucks, instead of a business where they have an edge because of some natural talents they’ve refined as strength.

Big mistake!

Working in a business that doesn’t capitalize on your natural strengths is a recipe for disaster.

The result?

Long hours, little progress, and mounting frustration because you rely on the backwards approach of trying to minimize your weaknesses to make progress in your business.

Hey, it’s your life were talking about here. When you pick the wrong business to be in, you force yourself to struggle.

And this is one of the biggest reasons why small businesses… restaurants, retailers, spa owners, contractors and service providers… fail, struggle, or work their butts off for insignificant rewards. Because they either got into business for the opportunity, or even worse, they chose, for example,building, remodeling, landscaping, design, renovation services… whatever line of contracting services… because they are interested in it.

Most entrepreneurs focus on their weaknesses because they bought into the faulty assumption that anyone can successfully build any business they really want to.

You see, picking a business based upon your interests instead of your strengths forces you to work harder for less. (Because you’re forced to earn and learn at the same time).

In business, you don’t get an “A” for effort

Why is this important?

Because the quicker you realize your strengths and focus upon them and leverage them, while delegating all the stuff you don’t like and aren’t very good at doing…

The faster your business will grow, the more income you’ll realize, and less stress and frustration you’ll experience.

So, if your strength is cooking great food, merchandising an antique shop, creating a peaceful, relaxing day spa getaway, building sun rooms, or fixing cars…

But not designing websites, figuring out search engine optimization, creating content for your website, turning your website into a 24/7 lead generation and sales machine…

Do yourself a favor…

Don’t do those things. Get help on the stuff you suck at doing.

Make sense?

What things will you vow NOT to do this week?

How can you change your business so you’re working on your strengths?

How will you have others work on things where you’re weak?

Photo Credit

“The Best, Jerry, The BEST”

Walt Goshert — Tue, 09 Mar 2010 17:17:44 +0000

“I got the best pizza in town.”

“I do great, amazing work.”

“My client service is better than anyone else.”

“My clients always refer me… everybody knows about me.”

“Just look at all these charts and my proposal. It all makes logical sense… you’ll see.”

Yeah right… and Dr. Phil is the most competent, highly qualified psychologist in America. (But he is one hellva marketer!)

Perhaps you need to face this fact:

High quality typically is a marketing problem.

Your prospects have no clue about the quality or an appreciation of the value of your work. You’re the expert. To the uninformed prospect who is out there, bumbling around, poking around on websites, and slurping coffee and munching on donuts in front of their computers, the best and the worst look pretty much the same.

That is, of course… until they live with and experience the difference in quality. Before the work is done and all the “i’s” are dotted and ”t’s” are crossed, and you deliver all the paperwork in your fancy binder, and get all the signatures…the only thing they have to compare… all that they see— is the difference in price.

So there you are with better products, better services, a richer more rewarding experience, a superior value. Of course, you cost more. Usually lots more. And you’re competing with your better products and services against cheaper, inferior stuff that can make the same claims. Your prospect is dazed and confused. All they see is the price difference.

Here’s your challenge.

Here is your wake-up call:

When you have the better mousetrap, the superior solution, for your ideal prospect, it’s your moral obligation to market it as aggressively and effectively as possible.

Here’s the thing… and an up-front warning. I’m going to get right up in your face here:

Marketing is EVERYTHING!

If you have a product or service you love and believe in and know it delivers value…

But…
You don’t know how to market..

It’s a crime! It’s theft!

Here’s my point:

I believe you’re stealing from people’s lives, if you don’t how to reach them with your product. You have the solution for their problem, but if you don’t know how to market to them, you’re stealing from their lives.

Marketing is the most powerful way to change people’s lives.

Many people think that marketing only as to do with business. That’s true. Marketing is everything to your business.

But how about how you market you in your daily life?

How you market yourself affects how you interact with everything in your life… including yourself.

Read that again.

If you really “get” it, it could make you a fortune… or it could change your life.

It doesn’t matter what you do… make pizzas, cut hair, replace windows, fix furnaces, sell insurance, do tax returns, clean teeth …

Start thinking of your company as a MARKETING COMPANY.

Try it. Watch your view start to change.

What say you…

Does “Best” thinking get in the way of your marketing?

What are YOU doing to distinguish Your business as a Marketing Company?

Flickr Photo Credit: llahbocaj

he Fourth Rule in Attraction Marketing (ronmedlin.com)
Putting Marketing on “ROIDs” Part 2: Responsibility Marketing (blogs.hbr.org)
Provide Educational Info to Build Trust with Prospects (myventurepad.com)

5 Play to Win Assets: Stimulate Your Local Business Marketing

Walt Goshert — Sat, 06 Mar 2010 15:26:20 +0000

Wow 66 days into 2010 already…

The New Economy, the “Jobless Recovery”, all the posturing on health care reform, talk about a Jobs Bill, Wall Street Bankers still cashing big paychecks, consumers still reluctant to buy… all the spin and noise remains pretty much the same.

But…

What about YOUR Local Business?

What’s changed in how you go about finding more clients, getting clients to spend more with you, getting clients to buy more often from you?

You know what you’ve done in the past… Yellow Page ads, Newspaper ads, Val-Pak and Direct Mailers, Radio spots… heck, even good old Word-of-Mouth doesn’t seem to have the same magic it once did for your business.

You’ve been gun-shy about really taking the plunge Online…

You’ve had a website, but not much has happened.

You’re efforts at getting clients emaill addresses and delivering an informative newsletter… spotty at best.

All the stuff you hear about social media, like Twitter and Facebook? You’re really wondering if it’s worth the time… even if you had the time.

Yet, you know the Internet is how your clients are getting information and communicating today. You know, sooner or later, you gotta jump on board.

Wanna know how to finally make Local Online Marketing work for your business?

Last year, last decade, the Internet offered Local businesses a tremendous marketing opportunity.

Yet, very few local businesses took advantage.

Why?

It appears that nearly 97% of Local businesses approach Local Online Marketing from strictly a tactical mindset.

Nearly all Local businesses are looking for the quick fix, the simple, easy trick.

Most businesses are reluctant to invest money in Local Online Marketing.

Given the state of the economy and past performance of Online Marketing for Local businesses, it’s understandable that Local businesses are a bit gun-shy about Online Marketing.

Here’s the thing…

Many Local Businesses, rather than shelling out bucks for a quick Online Marketing fix, first need to invest some time and effort in determining their Right Local Online Marketing Strategy.

How Do You Identify Your Local Online Marketing Strategy?

You’ve got to Play to Win. And if you’re going to win then you must focus on your strengths where you have an advantage over your competitors. This is the foundation of great business strategy and great wealth.

You can not afford to let your market determine your choice of business. You can not afford to let your competition define your business. You must play to your strengths. Without a clear understanding and burning focus on your business strengths, you lose any long-term advantage over hungrier competitors in your market. Hungrier competitors who grab the top Google search results on the keywords are getting your website traffic. Hungrier competitors are getting your phone calls. Hungrier competitors are getting your dollars.

When you adopt a laser-sharp focus that Plays to Your Strengths:

You have a clear view of what makes your Local business different and unique.
You understand who appreciates your unique business difference and the value you deliver.
You know what marketing messages and language will motivate your Ideal Prospects to take action and do business with you.
You know where your Ideal Prospects “hang out”- what Local publications they read, who they listen to, where they go online…

And, finally, you know what Keywords they use to search and find businesses like yours Online.

You need to understand your strengths and passions before spending a dime advertising or investing in Online Marketing. Without understanding your unique business strengths, you’re really guessing, and more than likely, falling into “same and lame” marketing. You’re simply copying the advertising and marketing of your competition, hoping it will also work for your business.

Ask yourself these key questions:

Is 2010 the year for you to make adjustments to capitalize on your strengths— that give you a competitive advantage?

Is your interest and desire to build a long-term profitable business?

Then you must think strategically. You must think long-term. To win long-term you must have an advantage. Your advantage MUST come from leveraging your strengths— directly and indirectly.

Take Action TODAY- Play to Win Online in 2010

Flickr Photo Credit: tharrin

Local Businesses Challenged to Get Local or Get Lost in 2010 (prweb.com)
Google Gives SMB Market Something to Look Forward To (marketingpilgrim.com)
Cheers to SMB’s Who Are Getting the Research Message (myventurepad.com)
Reinvent, Collaborate & Thrive in 2010 Presented March 31, 2010 (womenpartner.com)
The 8 Rules To Profit From The New Economy (johnchow.com)
Why SEO Is Important For Little Business! (ronmedlin.com)