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teambuilding

Putting People in the Right Place – A Teambuilding Case Study

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As I’ve been going through all of the emotional ups and downs with losing Sadie, there’s been a number of things that have been keeping me optimistic about the future.

For one, there’s a ton of things going well out at Collaborate 317 that I’m glad to hear about. We’re really starting to be recognized by folks in the community. In fact, a nearby town recently contacted us in regards to helping them start their incubator. Oh, and another event that was hosted by HB Bell went pretty well last week. It was called the Community R.U.L.E. Nonprofit Jazz Network Mixer. I got to spend a bit of time at that event after doing last week’s Junto Show with Harrison and Ping. Lots of interesting nonprofits were featured.

Another thing that I’ve been paying close attention to are how the Colts have been dealing with certain events in their organization.

Many of you know that I’m a fan – as I can be found wearing Colts gear pretty regularly. But there’s a reason for that: the team has integrity as a whole. All the way from the top at Jim Irsay (who loves his organization and wants to win) down to the newest members of the team

So when I wear the gear, sure I’m relating as a fan, but I’m also giving myself a reminder in how I need to act.

Recent Examples of Colts’ Integrity

Caring About Others

You might have heard about one of our players getting killed in a drunk driving related accident in early February. The player’s name was Edwin “Pound Cake” Jackson. And he had really only contributed to the team for a year and placed on injury reserve for all of 2017 (meaning he wasn’t able to play even though he was still part of the team).

Even though he hadn’t really been here that long, he was still considered part of the family. Not only did Jim pay for his and his Uber driver’s funerals, but he also set up a scholarship fund in his name.

Not every team would do that.

Sometimes the best Solution isn’t the First Solution

Then there was the recent signing of the Colts’ new head coach.

If you’re familiar at all with the NFL, you know that the Patriots have been doing very well during the last 15+ years. A big part of that success has been their coaching staff – and one of those members was supposedly going to be our new coach after this year’s Super Bowl.

For whatever reason, at the last moment, he decided to go back on his word on becoming our new coach. Needless to say, that angered a bunch of people around the league. For many, it also confirmed that the Patriots have some internal issues with character. As long as someone can do their job when they’re supposed to, they’ll have a place.

Well, we scrambled to find a coach to fit. And let me tell you, our new head coach, Frank Reich, fits the bill of what it means to be a Colt – he has integrity.

Not only was he loyal to his old team throughout the weeks leading up to the Super Bowl by not interviewing with other teams who were looking for their new head coach (he was missing the bus on getting one of these positions), he has fully taken on all responsibilities for working with the team as a part of leadership – not the main guy.

The Colts, especially their new General Manager, Chris Ballard, know what it takes to put a winning team together. And I personally believe that the biggest part of that is knowing if and where people fit into an organization.

Failure in Realizing Talent Leads to Bad Results

I think this was the biggest issue with our last coach and GM combination. They simply had a team where many of the parts didn’t fit quite right. While Grigson would find talent to plug in, Pagano’s job was to help that talent excel.

Apparently they didn’t communicate much on what the vision of the entire team was and that’s where they failed. Specifically, they failed to communicate on the talent of the players and matching that with the three Rs – what’s required, what provides the best return, and what is the greatest reward.

Without having that feedback, the team was set up for failure.

Frankly, it doesn’t matter how good the talent is – no team is going to win if they’re out of place.

How to Put People in the Right Place

In John Maxwell’s book, The 17 Indisputable Laws of Teamwork, there are three laws that we can zero in on when it comes to building a team:

  1. Niche
  2. Chain
  3. Bench

Based on what I’ve seen by our new GM Chris Ballard, I believe that he understands these laws quite well. Let’s take a look at them and how the Colts have or have not utilized these laws appropriately.

Law of the Niche

All players have a place where they add the most value. If you were to look at a typical NFL team, this is super obvious. Lineman wouldn’t be great ball handlers and visa versa. Even going deeper, you could say that many quarterbacks wouldn’t make great running backs.

And even another level – not all players fit all schemes of playing.

For example, there was a player a few years ago who people loved when he was coming out of college. His name was Trent Richardson. Unfortunately, his career didn’t pan out as many people would have expected it to.

Why?

For one, we have to realize that the college game doesn’t always translate directly to the professional level. Not all great college players excel in the NFL. In fact, there are times when lesser known college players will be better in the NFL. In a few subtle ways, it’s a different game.

Trent’s strengths that led him to his success in college didn’t translate directly to the success in the pros.

Also, it didn’t help that he missed a good part of his transitional season due to injury. And when it was time to perform, he wasn’t as fine tuned as he could have been. (It also didn’t help that the leadership of the Browns is known for destroying potentially great players.)

When he got to the Colts, he still looked good on paper. So we were excited to get him. But as a fan base, we realized soon why the Browns allowed him to come.

Besides not having his skills fine tuned for the league, the scheme that he was a part of in college wasn’t the scheme that he had in the pros. Eventually, our leadership let him walk because he wasn’t doing what was expected of him.

Law of the Chain

You’ve heard the saying “You’re only as strong as the weakest point” about teams, I’m sure. And as we’ve seen in the example above with Trent, one could say that he was a bit of a liability to the teams that he was on and to himself.

But is it fair to put that responsibility on his shoulders alone?

Personally, I’d say he got screwed over by being in several systems who didn’t know how to place him correctly. We know he was gifted, so obviously the problem had to be placement related.

The evidence of this is that this past year he bounced back a bit in the CFL. I really think it’s because they knew what they were getting when he got him. Plus, he didn’t have all the weight on his shoulders that he did here. In the NFL you’re expected to be able to perform from day 1. People didn’t really ask why he was not performing to level he should. But had they, they would have realized that he needed more time.

In Maxwell’s book, he says that there are 4 questions to ask about a weak link:

Are they weak because they’re new?

If so, give them some time. (I argue he never had this time to adjust with him missing out on training camp and preseason).

Are they weak because they aren’t growing?

Find out why and help motivate them through the issues. In Trent’s case, he wasn’t growing because he had all the weight on his shoulders from having to perform to support friends and the teams he was a part of. He was being forced to be the answer for everyone’s problems.

Are they weak because they lack people skills?

Help them understand how they’re screwing up. Teach Trent to say no to his “friends” who were using him.

Are they weak because they lack giftedness in this area?

If they’re not meant to ever be in a particular position based on personality or giftedness, don’t push the matter. For Trent, what seemed like a gift issue was actually the other 3 problems.

One last thing to note about this law. Stronger members will tend to pick up the slack of weaker members. In our Colts example, Andrew Luck, (who’s a solid 9 when it comes to leadership qualities) many times had to over exert himself to make up for the lack of offensive effectiveness on the field. I believe that’s one reason, in the long run, the team imploded when he got hurt and had to miss time on the field.

Law of the Bench

When it comes to winning games, the 4th quarter is where it’s at. In 2017, the Colts lost most of their games in the 2nd half. Had the game ended in the first half, the team would have made the playoffs no problem.

But because the team was incapable of playing 4 quarters, they won all of 4 games.

Sure, you could say that it was because coach Chuck Pagano played too conservatively in the second half. But I think that the biggest issue was that when people went down to injury (which we had tons of injuries this year!), there was poor talent to back them up.

Heck, you might even say that in many of our positions we didn’t have the right talent in the first place!

What’s great about having our new leadership, is that they’re righting the boat. They realize that recruiting is just as important as training and dropping the wrong people.

Instead of keeping mismatched players around to fill the roster, I think Chris Ballard realizes that when you spend time with the best people, you don’t have time for the worst.

I mean, he seems to take a Jack Welch strategy to the team. Jack was known for getting rid of the bottom 10% on a regular basis during his time at GE. This made that company so much better during his time there. I think Chris understands the power of dropping people – especially for the right reasons. In the end, he gets stronger and stronger players which gives the team more options.

Action Steps

What a difference a change of leadership can make. To be frank, I’m kind of interested to know what Jim Irsay saw in Coach Pagano and Ryan Grigson when he initially brought them on. One thing that definitely was surprising when they first arrived on the scene was how they removed all the players from the previous team – even those that were actually good.

In hindsight, I’m not sure what to make of that. It doesn’t look like it’s going to pan out the same way with our new leadership – at least not quite yet.

Anyway, when it comes to your organization or small team, I want to make sure you have 4 takeaways from this post:

  1. Hire for strengths and natural gifts.
  2. If people aren’t performing to the level you’d expect, ask why. This is key. Maybe you can actually help them improve.
  3. If you believe they no longer express the gifts that you brought them in for, feel free to remove them. In the long run, it’s for everyone’s best interest.
  4. Don’t be afraid to look for team members who are better fits for where your organization currently is. Teams are organic and sometimes someone who was a perfect fit last year, might be in a different place this year than last.

Below, let me know what you think about these laws. Do they apply to anything you’ve had experience with? How so?

how to get into voice acting

Tim Paige – There’s Money Where Your Mouth Is: Discovering How to Get Into Voice Acting (AoL 116)

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Voice acting is something that a lot of people don’t think about, yet we probably hear it everyday. It’s one of those things that if done well, is not noticeable – but when it’s done poorly, you can’t help but notice.

As a podcaster, I’ve learned to appreciate good audio as well as vocals. One guy that I’ve known for several years has made it his business to be great at vocals.

And as you’ll find in this interview with our guest, Tim Paige, being a voice actor doesn’t come automatically. Just like any other craft, you have to work at it.

In today’s chat, we’ll find out why he chose voice acting as a career, how he broke into it, and why he’s happy at the level he’s at.

Enjoy!

SPECIFICALLY, YOU’LL FIND OUT MORE ABOUT:

  • How did Tim get started with The Foundation? 10:02
  • How did he get into voice acting? 12:09
  • How did Tim eventually get become the webinar guy for Leadpages? 14:09
  • What gave him the confidence to get into voice acting? 19:06
  • What’s a common misconception that people have about voice acting? 22:02
  • How did Tim arrive to a point in his career where he was doing voice overs for big shows including Jimmy Kimmel? 27:06
  • How does one find a voice over coach? 32:02
  • What’s a topic Tim would never do a webinar for? 36:14
  • What kind of teas do we each like? 38:18
  • Why does he prefer working with service based business vs product based ones? 43:06
  • What’s Tim looking forward to in 2018? 52:32
  • Tim’s favorite top influencers are? 55:03
  • Hardest thing that he’s had to say no to? 55:49
  • What’s something that isn’t as bad as he thought it would be? 56:35
  • Which three truths has he learned over time that he’d share with others? 56:59

Right click here and save-as to download this episode to your computer.

ITEMS and PEOPLE MENTIONED IN THIS EPISODE:

SHOW NOTE EXTRAS:

Tim’s Promo Video Reel

Michael O’Neal interviews Tim on the Solopreneur Hour

Why You Should Use Webinars For Your Business

Ezra Firestone Testimonial

Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for The AoL Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.

If you have any questions feel free to email them over via the email mentioned in the show or by our contact form.

And finally, don’t forget to subscribe to the show on iTunes, Stitcher, Soundcloud, and/or Google Play Music. It’s absolutely free to do so.

A huge thank-you to you guys for joining us!

Cheers!

great leaders

5 Characteristics of a Builder: Why Builders Can Make Great Leaders

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The last couple of weeks have been a whirlwind for me. As many of you know, Maria and I had a wedding to attend in Honduras. So after the last post, the rest of the week was geared towards getting there while at the same time releasing the last podcast.

That’s why you might have noticed the last podcast was released a couple of days early.

Anyway – as we were there in Honduras, I met several guys (including the groom) who were really wanting to improve life down there. Not only their own, but the lives of their neighbors in their city – San Pedro Sula.

For much of the western world, when we think of Honduras, we think of a place that drug lords have called home to and they have no shortage of violence.

While this used to be the case, I was told by the guys that this really isn’t how they see it.

They see a lot of opportunity for truly building something.

While we were having our fairly deep discussions (especially for a wedding!), I got to thinking.

How can these guys be more of an influence in their own town? Then it came to me.

They can become great builders.

Let’s take a minute to dive into some builder characteristics.

 

1. Builders are Results Oriented

When I’m talking about becoming a builder, I’m not talking about just construction builders. While Honduras definitely does need an updated infrastructure, there’s other jobs that these guys could excel at – in which they CAN make a difference.

When I was speaking with the groomsmen, this is one thing I noticed they all wanted to do.

Not only did they want to make a difference for themselves – but for their countrymen as well.

While they wanted to know the inner workings of our government here in the states, they also wanted to make sure that I knew the results that their work was accomplishing.

The thing about builders of all types is that they’re numbers oriented. I mean, when you think about it, people who are numbers oriented are usually builders of some sort. Engineers are a great example. Local government members can be another.

One thing to note though. These folks might fudge their numbers a little bit. Sometimes it’s not a big deal. Other times it can be a huge issue. So make sure if you’re planning on being a builder, set a good example and always be transparent with your results.

 

2. Builders are Hardly Ever Satisfied

When it comes to builders – the reason they build is because they want some sort of change in the world. But even when that change occurs, there’s a big chance that they’re not going to stop there. If they’re an entrepreneur, there’s going to be another product they’ll want to make. If they’re an engineer, there’s another project they’ll want to work on.

One thing to think about is that builders feel like they have to be productive each day. They feel like those who aren’t naturally productive might have something wrong with them.

But, in reality, there’s nothing wrong with them. It’s simply the fact that everyone is different. While builders are task oriented, those “non-builders” are probably people oriented.

Both are needed in the world.

So instead of worrying about what others are doing, we should be concerned about whether or not we’ve been meeting our own standards.

 

3. Builders are Comfortable with Uncertainty

You’ve heard the saying before “Ready, Aim, Fire!”. Well, a common saying in the online entrepreneurial community is “Ready, Fire, Aim!”. In fact, in my conversation with Andrew O’Brien (founder of the Vetrepreneur Tribe) he said that when starting a business, people need to think about it as a 50 caliber machine gun instead of a sniper rifle.

That said, snipers have to consider the wind when taking shots. In other words, they have their own kind of uncertainty.

So us builders, even though many of us are ok with rushing into uncertainty and finding an answer, it might be best to think things out first from time to time.

 

4. Options are Desirable

When it comes to being successful, many would say that an abundant mindset is key to reaching that success.

Why? Because having an abundant mindset gives you lots of options in any givien situation. On the other hand, a scarcity mindset prevents many of those options from ever presenting themselves.

Successful builders realize that having more options to tackle a problem is better than having just a few.

To a successful builder, there isn’t any one particular right way.

 

5. A Builder’s Drive is Contagious

A final characteristic about builders is that their plans are contagious to others. For one, builders learn more from other builders. But another thing is that when builders get around other builders, they feel like they can do anything.

So if you’re a new builder yourself, ask yourself, “Am I contagious?”

Do people feel that way when they get around you?

If the answer is yes, then you’re going the right direction.

If not, it could be a number of things. So feel free to contact me if you feel you don’t quite have a magnetic personality yet.

 

Action Steps

Anyhow, there’s just a few characteristics of builders. Whether or not you’re looking to improve your local government, start improving your town’s infrastructure or make your business better, these are some things you might want to consider if you feel that things aren’t going the way you’d like.

If that’s the case and you haven’t plugged into a group who supports each other, then you’re invited to join us in the Junto!

side business

Rachel Pedersen – From College Dropout to International Influencer: How a Former Hairdresser made her Side Business a 6 Figure Recurring Revenue Machine (AoL 112)

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When we’re building a side business, it’s easy to get the mindset that because we have some sort of disadvantage compared to someone else that we won’t be able to do what they’ve done.

Truth is, though, that’s usually an excuse more than anything else. It’s a victim mentality.

If you truly want to do something with your life and your work, then having that mentality isn’t going to get you anywhere.

For me, when I was growing up in my hometown, I knew I was going to go to grad school. Both of my parents had their master’s degrees, so it was an automatic that I would at least have that. It didn’t matter how long it took or what I had to do to achieve that goal. It was going to happen.

However, a lot of my peers didn’t have that perspective and/or support that I did. So their goals weren’t as “big”. While they might have dreamed about leaving our hometown and doing great things, many fell short. They just didn’t have the missing ingredient to get to that point.

I’d argue that this particular missing ingredient, for most, is unfortunately hitting rock bottom. Where things are so unbearable that we are forced to dream of a better life.

For this session’s guest, this was definitely the case. Rachel Pedersen has lead a life peppered with all kinds of ups and downs. Growing up in Minnesota as a pastor’s daughter, she had great expectations. But somewhere along the line, life took a turn and she found herself a college dropout with kids AND on welfare. But her story doesn’t stop there. It got much better.

In fact, today she finds herself working on her own 7 figure marketing business. What happened in the middle there? That’s what we’re going to be finding out in today’s session.

Enjoy!

SPECIFICALLY, YOU’LL FIND OUT MORE ABOUT:

  • Did she ever see herself being as successful as she’s become? 7:50
  • While growing up, did she live her life based on what others expected of her or did she do her own thing from get go? 9:49
  • What was the first mental click Rachel had where she realized she needed to start building a side business? 12:38
  • Did she start working with her clients for free like Russell Brunson suggests in his book or did she charge right away? 19:03
  • What are some tips for someone to become as successful as Rachel even if they live in a “small town” or don’t have the best support in getting there? 23:34
  • What are 5 steps that someone should take if they want to start their own side business? 29:44
  • How does Rachel build a real human connection with people through social media? 39:14
  • Who does she pay attention to when it comes to watching FB Live videos? 42:42
  • How do you build a following and how does one define that? 44:52
  • What’s Rachel looking forward to in 2018? 46:57
  • One gift she likes giving others? 53:11
  • What’s something that’s going to affect entrepreneurship in the future she’s excited about? 53:37
  • What’s an issue that’s not being talked about enough? 54:42
  • How can someone be a difference maker in their community? 55:04

Right click here and save-as to download this episode to your computer.

ITEMS and PEOPLE MENTIONED IN THIS EPISODE:

SHOW NOTE EXTRAS:

3 Ways of Finding Social Media Clients

Why Small Businesses Fear Social Media

3 Secrets of Facebook Ads and Funnels

How to Become a Fully Booked Social Media Manager

Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for The AoL Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.

If you have any questions feel free to email them over via the email mentioned in the show or by our contact form.

And finally, don’t forget to subscribe to the show on iTunes, Stitcher, Soundcloud, and/or Google Play Music. It’s absolutely free to do so.

A huge thank-you to you guys for joining us!

Cheers!

sales skills

Mark Boersma – Developing your Sales Skills: Why Business Systems are Huge in Making Predictable Revenue (AoL 106)

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You always hear about people “systematizing” their work. However, so many of us, especially us solopreneurs, don’t take the time to do that. Sure, we might write an SOP if we hire a virtual assistant (if we’re smart), but when it comes down to our creative work we never take the time to think about what might be easier if we actually detail out what gets results.

As you’ll find out in the interview of Mark Boersma, he started systemizing early on. Having an analytical mind, he out thought his problem and now teaches others how to turn sales, which can seem like an intangible skill, into something that’s very step by step.

In today’s chat, Mark discusses with me why he had to figure this system out, what the results of it gave him, and how knowing personalities plays into the success of this system.

Enjoy!

SPECIFICALLY, YOU’LL FIND OUT MORE ABOUT:

  • Why did Mark get three bachelor degrees? 10:41
  • Did he feel that going to college was a detour of what he should be doing in his career? 13:22
  • When he got out of school, why did he immediately go for a 100% commission paid position? 15:02
  • What was the first tool that he made which systematized his sales? 20:35
  • How does knowing about personalities useful in making sales? 23:44
  • What’s the accuracy percentage of the personality assessment he uses with people? 30:54
  • What are some of the things Mark is looking forward to in the future with Synergy Solutions? 35:51
  • Who are 3 influencers who have helped him get to where he is today? 41:38
  • What is a scientific fact that he knows his true but still blows him away? 42:49
  • What’s an unwritten rule that should actually be written today? 43:55
  • What’s something that he belives all high school students must know? 45:18
  • What does it mean to live a life of abundance? 46:39
  • … and MUCH more!

Right click here and save-as to download this episode to your computer.

 

ITEMS and PEOPLE MENTIONED IN THIS EPISODE:

SHOW NOTE EXTRAS:

Mark and Tom interviewed by the Milwaukee’s Morning Blend:

Mark on Thinkers vs Doers:

ClickFunnels Viral Ad 2017:

Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for The AoL Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.

If you have any questions feel free to email them over via the email mentioned in the show or by our contact form.

And finally, don’t forget to subscribe to the show on iTunes, Stitcher, Soundcloud, and/or Google Play Music. It’s absolutely free to do so.

A huge thank-you to you guys for joining us!

Cheers!

Basics of The Junto- An Online and In Person Mega Mastermind Group

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Well, guys, it’s official! The new Facebook group is up and going! I present to you… 

mastermind group

 

I’m really excited to bring you guys’ this joint effort.

It’s been something I’ve been wanting to do for awhile but I just didn’t have the pieces in place to be able to get it done.

Now I do.

And by pushing the podcast to a every two week effort seems like it’s going to really pay off. I feel that I’m going to be much more productive in my own business as well as being able to help you awesome folks out a bit more.

Since last week, I’ve received a few questions about what the group itself. I wanted to take a little bit of time to answer some of those questions.

So this post is all for you prospective members.

What the Junto is all about – including what it is and what it isn’t.

What is this version of the Junto?

Basic Rules:

I’ve had some questions about how closely I’m going to be following Ben Franklin’s Junto. Well, for one, this group is going to be open to anyone – they just need to meet certain criteria including:

  • Been on Facebook for more than a year.
  • Answers the questions to get in the group.
  • Doesn’t post random offers or troll when they’re in.

 

The Junto is a branding channel, first and foremost. In my book, branding is all about making people aware that you exist. Marketing is letting people know you have something to offer. (And since we’re on the subject, sales is about making a transaction. Don’t get the three confused.)

Just to make it absolutely clear – marketing is usually not permitted (unless given permission to do so). But you’re totally allowed to offer people value as much as you want.

You can express that value in written, audio, or video form. Totally up to you. Just don’t drop offers.

 

What’s with All the Logos?

So here’s the awesome thing, guys. I’m not the only “star” of this group. I am simply the moderator and the pot stirrer. As I’ve done in the past with New Inceptions, Junto has various contributors itself – all with their own focuses in helping people in the offline community.

  • Coffe – Help people understand about finances and getting them out of debt.
  • Amplify – Make great events around the city.
  • Collaborate 317 – A place for people to come together for an event, a class, or simply to engage with other like minded individuals.
  • Ascension – A means for patriots AND veterans to get training so that they can climb up in their career – whether in the traditional 9 to 5 world OR as an entrepreneur.

 

All four of these companies are looking to expand their reach outside of Indianapolis. They want to empower others around the world and possibly do what they’re already doing.

Being part of this group will allow them to do that.

If your town doesn’t have one of these groups and you think it might be a great addition to your community, I’m sure the founders would love to help you put a chapter in your area!

 

Are we Going to Use the Junto’s Original Questions?

Yes and no. We are going to use them. It’s my goal to post at least a tip and a question as often as possible. Hopefully daily as I’m always learning and need to write some of this stuff down.

As you might have seen, the original questions ARE pretty antiquated. So I’ll need to update them a bit to post in the group.

For example, question 13 goes like this: “Do you know of any deserving young beginner lately set up, whom it lies in the power of the Junto any way to encourage?”

Today, we’d simply ask, “Do you know of any cool newbie entrepreneurs who need an extra boost that we could highlight and/or encourage?”

I think a lot of these questions are those that many groups don’t ask enough. So be on the lookout for these!

 

If someone wants to Promote Something, how can they do that?

By going through the proper channels! Lol.

But no, seriously. If you’re contributing regularly to the group and want to promote something, there’s a way to do that. It’s called hop on LIVE with one of us and we’ll highlight who you are and what you’re about. Just as in the podcast, in that conversation you’ll get the opportunity to mention anything you’re excited about and that’d be a good time for YOU to promote your wares.

 

Action Steps:

So this post is fairly short for a reason. I want you to hop in there and start introducing yourself! Answer the onboarding questions so we can make sure you get connected to the right people.

We’re all in this together, so if you want to know one of the mods a bit better – let me know. I’ll be more than happy to connect you!

Have any other questions? Let me know here or on Facebook.

consumer research

Consumer Research: The Most Important Part of Understanding Your Market

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Once you set out on your own entrepreneurial personal mission, it’s important to know how you can actually be of value to those that you’re looking to add value to.

The best way that you do this is through market research.

However, what that actually means can differ depending on who you ask. In this post, we’ll look at some mistakes people make in their research, and how to make sure you’re asking the right questions.

 

Anti-Disruption: One Secret to Not Going Broke

When I was in grad school, I had the opportunity to judge business plan competitions a couple of times. As part of those business plans, students were to do some “market research”. This basically meant they got to use essentially academic research methods to learn about the industry in which they were going to bring “disruption”. Many of these methods are discussed in this article in a Entrepreneur Magazine post.

Haha. Talk about fun. 😛

Until I got into The Foundation, 3 years after I got out, this was the way that I thought ALL entrepreneurial endeavours started.

However, what I learned, and what many people make mistakes in is that your business doesn’t have to be disruptive at all.

In fact, if all you’re wanting to do is make an income via your personal mission, then trying to go for the home run your first go-around might not make the best financial sense.

Instead of going to go dig for gold yourself and potentially going broke in the process, why not build a strong foundation by first supplying the tools to those gold diggers? Some might be striking it rich, but there are many MANY more of them who are failing.

Don’t run those odds on yourself – play it safe and be a tool maker. Just like jean and shovel makers were needed in the actual gold rush for those going after the gold (and the most consistently profitable), people who are providing simple services are still needed today too.

 

Do Not Underestimate the Importance of Primary Research

In the above linked Entrepreneur magazine, primary research is briefly mentioned. Most of the article discusses SECONDARY Research.

What’s sad is that most aspiring and existing entrepreneurs do the exact same thing. They don’t do any consumer research!!

It’s like surveys and talking with one’s customers (or potential clients) directly is the last thing most business owners want to do – even though those same customers are the ones that are directly impacting their bottom line.

Another thing about secondary research is that many times it’s old data. You hear more talk about trends and being “where the market is going, not where it’s at” then you should. Some people really don’t know what that last statement is really saying! Sure it’s a great place to start, but it’s not going to ever you the full picture of what’s actually going on.

 

Getting it from the Horse’s Mouth

There’s an idiom that goes “straight from the horse’s mouth”. If you haven’t heard this before, well, chances are you aren’t near a farm. But basically, it’s referring to the fact that farmers want to check the mouth of a horse before they buy them from someone.

In our case, it means “to get information from the person most directly involved or best informed” or the customer.

Now I know what you’re going to say, “But JC, people hate doing surveys! How am I to get them to answer my questions?”

Good question.

As you know, there’s a few methods which can be done online or in person:

  • Interviews
  • Focus groups
  • Surveys
  • Questionnaires

I’ve listed them in the order that you’ll get the best results. If you actually get the chance to interview someone, you’re going to have great data. If you send someone a survey or questionnaire, there’s going to a much lower chance of getting results back.

 

Questions to Ask

Now, based on whether you’re developing something new or something you’ve already made, you’ll have different questions on what you’ll be asking those individuals.

If you’re planning on releasing a new product or service to a customer, there are 6 base questions you need to know the answer to.

If you were going to put these in a questionnaire, they might go like this:

  • What is the biggest challenge that they currently have in their work?
  • What are their long term goals?
  • How will achieving those long term goal feel?
  • Have they already tried in achieving that long term goal? Any failures or frustrations did they experience in getting there?
  • What are their goals right now?
  • What are they willing to change to achieve those goals this next year?

These matter for various reasons – but the main reason is that you’re looking to ask questions that they often don’t think about as often as they’d like. Also, if you’re going to be helping them, you need an emotional anchor in what they’re trying to achieve. This anchor is their Why for doing whatever they’re doing.

People don’t buy facts – they buy feelings.

However, I will add that the more personable you can make the experience, the more information you can collect and the more emotion you can tie to their responses.

That’s why it’s best to learn how to properly conduct an interview. Not only will these base questions be answered, but you’ll be able to get more clarification. If you get the chance, ask these questions as followups:

  • Can you describe your typical working day?
  • In your typical working day, where do you feel like you’re wasting the most time?
  • What factors do you consider when purchasing a certain product (or service)?
  • What do you like or dislike about current products (or services) currently on the market?
  • Any areas would you suggest for improvement?
  • What would be the smallest version of this product (or service) that’d you pay for?
  • What is the appropriate price for a product or service like this?

These are good questions because most often than not the answers don’t lie on the surface. (That’s why idea extraction has the name it does!)

Action Steps: Get Some Answers!

Depending on the type of work you’re looking to do, these questions will change. For example, if you’re looking to build a certain kind of software like The Foundation initially focused on, you’ll want to ask more software oriented questions. If it’s a service, lean that direction.

Sure, the more responses you have, the better. However, I would attempt to get 12 to 15 responses at first so you can start recognizing some patterns. The most used response – that needs to be included in your (minimum viable product). Anything after that validates what you’re already doing.

Let me know below how it works out for you or if you have any questions!