Is Facebook old fashioned or advanced technology? Watch this video to find out.
2 weeks already?! Wow, time flies.
Some Takeaway Notes…
What can I leverage?
Scarcity vs. Abundance
Some Takeaway Notes…
Which works better, shotgun or rifle?
The traditional way of marketing is broken. A twelve year -old running a lemonade stand has a better ROI than a traditional media ad.
But wait! There is a new show coming out:
Other companies I’ve said goodbye to:
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A boy, not much older than 14 was walking down the street one afternoon. School was over, and his mind was formulating ideas on how to make money for his next big goal; his very own Nintendo Wii. He decided to sell lemonade that day, so on his way home he stopped by a grocery store and picked up some supplies. On his way out, however, he stopped in front of a couple vending machine, dug a few coins out of his pocket, and grabbed a soda and a gumball. He popped the gumball in his mouth and continued on home. Just before he walked in the front door, an idea hit him. It was so mind-blowing he almost swallowed his gum!
“Why do I always have to sit out on a busy street corner for several hours trying to sell lemonade and get sunburned in the process? I love running businesses, but sometimes a kid wants to play with his friends and not work all the time.” He thought to himself. “I don’t want to do this for the rest of my life, there has to be an easier process. Hey, what about hiring somebody to do it for me? Nah, I don’t think they would appreciate that, especially if it was one of my friends… I got it! What if there was a machine that did it for me? Kind of like a vending machine of sorts? I THINK I FOUND THE ANSWER!!”
He spent the next 27 minutes drawing up an idea for a lemonade vending machine. Basically, he would make the lemonade and put it into containers that the vending machine could hold. He would then setup the vending machine at a busy street corner and let it do the work from there. It would work just like a normal vending machine: deposit money and get the lemonade. But he needed money and a vehicle to transport the machine. He went to ask his mother about it.
“Mom, I am going to make a lemonade vending machine but I need money and a vehicle to transport the machine to and from street corners. Can you help me out with this?” He asked. “Sure can.” replied Mom. “But I think I know of something even better to help you out with this.”
She went on to explain that while the lemonade vending machine idea was a good one, there was somebody else who already went through all the hassles and had done all the work. She also mentioned something about it being illegal to setup vending machines on street corners. She directed him to a couple websites where he found information on how to setup his own vending machine business. There were articles on how and where to buy vending machines, where to find suppliers and how to approach them, and how to choose the most profitable locations to setup the vending machine. Everything he needed was right in front of him, he just needed to read up on it and take action.
30 days later he had read all the information he needed to start up his vending machine business. He was able to track down some candy vending machines, a supplier, and a desirable location inside a small grocery store nearby. He had purchased the vending machines and supplies with the money he had in his savings account, and had signed a contract with the store allowing him to place the vending machines at the entrances. The day had come for him to place the vending machines inside the store, and boy was he excited! He enthusiastically setup the vending machine in its spot, filled it with some of his supplies, and talked to the owner of the store to finalize a couple minor details. Not long after, the money started to pour in. Not much at first, but it soon started to catch on and more money started to pour in. All he had to do was set it up once, and it would run by itself for the rest of its life. He now had time to play with friends and not worry about making money because the machine made the money for him!
There is nothing worse than having a product but having to spend hours promoting it to make a sale. With everything you have setup and created, the product should be able to sell itself right?
Don’t stuff it away in the back closet. Don’t try and sell it to the people who don’t need it. You’ve done your research. You know who needs it and where they go to find it. Put it right in front of them.
In the example of the vending machine, you don’t have the product hidden behind a tinted window. You have it in a clear glass container where they can see it and visualize consuming it. If you have people commenting on how clear the “glass” is, you are focusing a bit too much on the sales.
No one likes eating “old candy”, drinking “stale soda”, or looking at gunk on the vending machine. Make sure the product is fresh and the “vending machine” is always clean.
Am I missing anything you’d like to contribute? Comments are open. Add yours.
(PS: I know the picture used is a girl and the story is about a boy. Click on the picture though and read the little story on the caption and I think you’ll start to see it matches quite well. Pretty impressive eh?)
As I am writing this, I am currently home from college on spring break. As my college blocks every video site except Facebook videos, I had to catch up on the videos I missed while I was away for three months. I only have a select few tv shows I like to watch, and ALL of them I watch online. I was in the middle of watching an episode of Chuck when a chunk of dialogue caught my entrepreneurial ear. I don’t remember the exact conversation, but it sparked this idea.
Well, to put it bluntly, you MARKET to them. No, we don’t advertise to them, read that article I linked up first then continue reading here.
It takes a creative mind to pull customers in. Something that will reach out to them, and show them the solution to their urgent need.
You can do something stupid and completely blow up your reputation, causing ripples in the market. Or you can do something no one has thought about to capture them, but understand this. You cannot serve everyone. Remember the old saying, “If You Try To Be Everything To Everyone, You’ll Be Nothing To No One”?
Take that idea in perspective. Look at the bigger picture. Why do you market to certain segments of people? Why are all these marketing surveys, segments, action plans, and spread the message being conducted by companies big and small?
Because you want to capture your custom customer.
Customer comes from the word ‘custom’ which comes from a latin word meaning ‘habit or usage’. It is quite fascinating if you think about it. A person, custom made, just for your business is waiting out there for you to capture them. You have no idea who it is, so you send a message to your market, hoping that they are in the mix. They hear about you and BAM!, deal closed.
Forget about advertising to everybody, that is dead. Besides, we know that reverse psychology works pretty well in this area. Market only to that select group, and sooner or later everyone and their cat will hear about you. There is enough of the market for every business to have their share, you just need to find yours. That is why you have marketing campaigns. That is why you guard the customers you do have with an iron fist (at least I hope you do). That is why you are in business.
There are customers custom-made just for your business. What are you doing to make them notice you?
If you are wondering, we will be moving back to our regular schedule soon and I may be mixing the podcast episodes up! (Thinking of having a monthly episode dedicated to interviewing one person similar to this episode)
If you want one-liners, Jordan is stuffed full of them. “Be Real”, “You Blog To Make Money”, and “Start a Blog” are just a few. I also ask him a question regarding marketing and what every single business is doing wrong. You will want to hear his answer if you are a business owner.
Need some inspiration? Read a couple posts from his blog:
To learn more about Jordan or to chat with him via twitter, click on one of the links below:
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