The 5 Step Process to Find Prospects

Start with first-degree contacts 

They are your immediate contacts that meet your target customer demographics. Even if some close contacts might be biased it will provide you with experience and insights.

Ask for introductions

Ask your first degree contacts for introductions to people who meet your target customer demographics. Make it simple for your first-degree contact to introduce you to other people by providing them with a message template which will facilitate the process.

Play the local card

People are more willing to meet if they can identify with you. Meeting with local people makes it simpler to share common aspects.

 

Create an email list from the teaser page

If the web is a viable way to channel your product, setting up a teaser page is a great way to find people to interview.

Give something back

Offer a write-up, free test, discount - not only will they appreciate it but also provide referral

Use additional techniques such as cold calling, emailing, LinkedIn

Make sure to reach the right prospect, have a clear line of introduction which would attract interest 

One of the core values we have as a company is to inspire and empower people in all aspects of their lives. Additionally, if you want to read about our Custom Software Solutions and Consulting Services, please visit www.isucorp.ca

The Best Strategy to Know Your Business

The best way to test your business plan and to learn is to talk to customers.  Customer interviews are about exploring what you don't know you don't know.  

Avoid surveys or focus groups since surveys assume you know the right questions to ask and as a results surveys assume you know the right answers too. The main problem with Focus groups is that they quickly evolve into "group thinking".

When approaching customers make sure:

• To understand the customer problem before you pitch a solution

• Don't ask customers what they want, measure what they do, validate what they say with what they do.

• Stick to your script, you need consistency to instill some method to the process

• Narrow down and filter your customers as you progress

• Face to face interviews will be more accurate

• Start with people you know who fit your target customer profile -  it helps you practice.

• Take someone along with you, it helps you to keep more objective

• Pick a neutral location, more casual atmosphere

• Ask for sufficient time, it provides right time expectations without rushing

• Don't pay or provide incentives to prospects, it could skew the results

• Avoid recording interviews, it makes people self-aware and biased

• Document results immediately after the interview while your thought is still fresh. 

• Prepare yourself to interview around 50 people in order to get an accurate picture.

Now let's get to work; it's time to tart developing a strategy and put all this into practice.

One of the core values we have as a company is to inspire and empower people in all aspects of their lives. Additionally, if you want to read about our Custom Software Solutions and Consulting Services, please visit www.isucorp.ca

Cheers!

Nurture Your Business… Start Small, Grow Tall.

I have always been curious about the way large monopolies such as Apple, Google, or Amazon came to be. It seems as though every business owner looks at these corporate giants through narrowed eyes and a hand stroking their chin, wondering what exactly the secret is to build such a fruitful business.

With this question in mind, I started reading some books to gather clues for the winning traits of these companies and stumbled upon a book that effectively taught me how to grow a business.

Peter Thiel, co-founder of PayPal, wrote a hint for a successful startup in his book Zero to One: “The perfect target market for a startup is a small group of particular people concentrated together and served by few or no competitors” (54). The whole idea behind this quotation is essentially to be patient and start small. The way to become a monopoly is to start off by dominating a small market of your target audience. You have to find your niche and cater to only that niche exceptionally well. Having a few dedicated customers is better than have many uninterested customers.

Once you’ve captured your small but strong audience, you can now begin to expand your market. The trick about growing your market, however, is to move to the closest thing to the market you already have. You just want to dip your toes in territory that isn’t too far from your own. This kind of growth is slow but steady. If your business is good at what it does, this should work well.

So, if your goal is to become a large corporation, be sure to start with a strong grip on just a handful of loyal people, and when you’re ready, work your way to a bigger slice of the market.

One of the core values we have as a company is to inspire and empower people in all aspects of their lives. Additionally, if you want to read about our Custom Software Solutions and Consulting Services, please visit www.isucorp.ca