Welcome to this 'stand out' episode of the Wealthy Wednesday Podcast!
In this episode, we are tackling the 'S' of C.R.A.S.H. which stands for 'Standing Out'
Partial Transcription:
Today I want you to consider this: begin with the end in mind.
This is the second habit of the book, written by Stephen Covey called The Seven Habits of Highly Effective People. It's an amazing book and well worth reading for any entrepreneur. And it leads us nicely into our show this week, which follows on with the acronym Crash
C-R-A-S-H. As this week, we discuss the letter S for standing out. And it really is so important right now that you begin with the end in mind.
For basically, when we exit this downturn, once it kicks in. In fact, even if there was no downturn or recession, it's vital that you both stand out and stand for something that your clients believe in. Or put another way, when the markets are contracting, becoming more visible will always bring new opportunities and new profit streams when done correctly. F ailing to stand out means that you enter into a race to the bottom and cut your prices just to win business at any cost. You become a commodity if you like. It's commercial suicide. And in the chaos of a recession, people will want to turn to entrepreneurs and professionals they know, like and trust. So you need to be recognized as the go-to person in your industry. It's crucial.
In a recession, every business will be competing for attention and visibility in what is already an incredibly noisy and competitive marketplace. With this in mind, positioning yourself as an industry leader is one of the fastest ways to create a breakthrough in your business. Imagine being widely recognized as an influential thought leader in your industry, and you and your team were regularly featured in the media and invited to speak at large scale conferences. What would happen to your cost per lead? How much easier would it be to attract and retain top talent when you're visible like this? And what partnership opportunities would come your way?
Here's the thing. Until you are recognized as one of the go to brands in your industry, everything is more difficult and more expensive. And this isn't just me sharing this with you, but the team at Dent, headed by Daniel Presley, shared this as well. It's a great organization run by Daniel and well worth following. Businesses led by founders who are well-known, liked and trusted are much more resilient in a downturn because people know they're the best. The flip side of the coin is that you end up fighting for the scraps that fall off the table of those who are the go-to people. Where still you fall for the lies are told in a recession that there are no opportunities, and the opportunities are non-existent. This is completely flawed. In fact, it's completely wrong. Opportunity is everywhere. It's first created in the mind. By knowing what you are searching for. And if you're searching correctly, and you place focus on standing out, you're going to attract opportunities to you instead of having to go and hunt them down.
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As ever, please get in touch on dave@theprofitchampions.com
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