Top 3 Growth Opportunities for Founders in 10 Mins
Jul 28, 2023
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Speakers discuss leveraging recessions for growth, positioning in the 'yes box', delivering what clients want, accelerating sales cycles, reducing costs through targeting, and creating an irresistible offer.
During a recession, companies can position themselves in the 'yes box' and dominate the market by offering high-quality solutions while reducing costs for clients.
To capture the attention of ideal clients, companies must create an irresistible offer that meets their needs, addresses their desires and pain points, and provides a clear and measurable outcome.
Deep dives
Positioning Your Company in the Yes Box
During a recession, businesses go through a predictable phase where spending drops and cuts are made, providing an opportunity for companies that can offer high-quality solutions while reducing costs for clients. By focusing on driving costs out of their business model and delivering solutions that users love, companies can position themselves in the 'yes box' and dominate the market. This approach requires a shift in marketing strategy, where companies focus on a small and defined target market with a clear message that resonates with ideal clients. By doing so, customization costs decrease, sales cycles accelerate, and clients are attracted to their solution.
Creating an Irresistible Offer
To capture the attention of ideal clients, companies must create an irresistible offer that meets their needs and stands out from the competition. An irresistible offer focuses on the client's perspective and addresses their desires and pain points. It should have no perceived risk, be easy to adopt, and provide a clear and measurable outcome. By understanding what is irresistible to their clients, companies can deliver tailored solutions that capture their head and heart, making the competition irrelevant.
Making Powerful Friends
Forming strategic partnerships with larger companies can be a powerful approach for smaller companies looking to expand their reach and access new clients. By leveraging the strengths of both parties, these partnerships can result in significant value exchange. Small companies can provide agility, speed to market, and innovative solutions, while larger companies offer access to clients and credibility. When positioned as a benefit to help larger companies achieve their goals, partnerships become mutually beneficial and can drive growth for both parties involved.