03 May How to Turbo Charge Your Message to Get Results
Intellectual Property (IP) is the central resource for creating instant wealth for service providers today. In fact, in a difficult economy with an ever increasing number of competitors, it’s imperative to know how to have faster, more authentic and relational conversations that positions your advice as the de factor leader amongst your competitors.
IP Data Mining is a two-step process. It begins first with an analysis of your value, and secondly with an understanding of how to translate this value into specific insights that are easily consumed by those you want to influence. Once you have completed both steps, then it’s time to translate this into a tool or mechanism which will become an asset for your company’s growth.
“He/she who self reflects the greatest controls markets today.” With so much information available to your prospective clients, you will want to take some time to think about the key questions in order to stand apart from all the noise in your market. This begins by getting clear on the value you bring that is unique to you.
The following recommendations are part of the Indispensable Value Builder Analysis™ to translate your advice into deeper insights for your prospective clients so they choose you over your competitors. If you want to attract the “whales”…the clients who pay the most…then you will want to create ideal “whale bait” to attract them. Follow these recommendations to re-shape how you share your advice.
Here is a five-part exercise to get you to think deeper about your value so you can create assets for your company which provide deeper insights into how to solve the problems your potential clients face. The company which provides the “deepest insights” into the nature of problems and how best to solve them has a huge competitive advantage today. This ties into the concept that, “he/she who self reflects the greatest controls the conversation in the market place.”
But first, the science of data mining is based on having tools to analyze relationships that have not been discovered before. This is a field that businesses pay huge sums of money to know how clients behave i.e. make purchasing decisions.
IP Data Mining is critical for your success as an entrepreneur, speaker, coach and/or author, especially if you are interested in owning your niche category.
What if you had the same ability to make the identical predictions that large corporations pay experts to mine their data to help them forecast specific buying patterns of their ideal clients?
Now I am going to help you do this for yourself without spending huge sums of money so that you can make confident predictions not only about how your ideal clients buy, but more importantly, how to properly identify and value your true worth.
A key principle to begin with is this: “You look within for value; you look without for perspective.” This means that you should always begin with an analysis of yourself. Take an inventory of the unique sets of knowledge and skills you possess.
The following is a critical IP Data Mining exercise I want you to perform–and one that I use with my business coaching clients–to help you begin to understand the value that you bring to a market place.
IP Data Mining—Five Exercises To Get You Started
- List your top 5 to 7 values. This sounds simple enough, but there is something more important than just listing your values. I want you to focus on why you deem certain values more important than others? In other words, focus on analyzing why you chose certain values as most important ones.
- Prioritize your values from #1, and provide a couple of examples of behaviors that you exercise on a regular basis that support these values.
- Analyze your behaviors (where you place your time) over the course of a week. How you spend your time is a great indication of what you value. My suggestion is that you make a list of all your key behaviors you act upon each day or during any given week. Group these into two broad categories: ‘Have To’ vs. ‘Want To’.
- Focus on the ‘Want To’ list. This is the key list as this inventory contains critical behaviors that reflect your passions.
NOTE: Focus on ‘Want To’ and identify the ‘Want Tos’ as potential business ideas that could be the start of a new company profit center or grow your existing coaching brand. Now get clear on your big “why.” (Why do you want to start or grow your business?) Your why will be the benefit of the result that you are after. For example, the reason you want to have a successful company could be for the freedom to travel, support your favorite charity, leave an inheritance for your children et cetera. The stronger the “why”, the stronger will be your resolve to succeed. Think of your “why” as pulling power to get through the tough times.
- Finally…Examine the most challenging life experiences from the “School of Hard Knocks” you have had to overcome to date. Focus both on the positive and negative experiences. As you self-reflect on this component, draw a time line of your life and list these experiences with a 1-4. It’s the 3s and 4s that I want you to focus on in terms of greatest challenge which have impacted your life. Narrow down to the one or two most negative and positive experiences that you have encountered, and make a list of all the valuable lessons learned. How have they shaped you? How have you changed because of these circumstances? How have the impacted your value system from #1. Note the emotion you went through, and how it’s shaped you into the person you are today. Particularly focus on the painful experiences and what have you learned? Calculate the emotional energy and money that you spent to solve the problem.
Now you might be wondering, why do these exercises? Remember, IP Data Mining is focused totally on making predictions based on behaviors—an examination of your behaviors. The key is to understand how to correlate these facts with what you have learned through the ‘School Of Hard Knocks’.
The Key Point to Understand From this IP Data Mining Exercise:
One of the keys to completing this IP Data Mining Exercise is to show how valuable you are in terms of problem solving. If you solve problems for yourself, you are that much more valuable to others as a resource. Your IP Data Mining begins with an analysis of the value that you bring to the market place through a strategic way of self-reflecting on your experiences. This system is based on the following principle: “He/She who self reflects the greatest controls market places today.”
As you self-reflect your way to greater insights into your core genius and the specific skills you possess, express them in terms of the problems you solve for clients. Train yourself to express your core genius by first identifying the key problem(s) you solve for your clients. Stop telling potential clients what you do, and begin to tell them what specific problem(s) you assist clients in solving. Demonstrate the problem in two ways: 1. the monetary pain it cost you in solving the problem(s); and 2. the emotional pain it cost you to go through the similar experience all of your clients have gone through.
Create a framework to demonstrate this so your potential clients can clearly visualize how you can assist them. Make sure to focus on the results or advantages your system provides. Focus more on “showing” what you do as opposed to “telling” others what you do. In this way you will enjoy faster, more authentic and relational conversations that positions your advice as the de factor leader amongst your competitors.
Enjoy the journey of self-reflecting on what you bring to the market place. You will begin to see how valuable you really are as you gain more clients desiring to work with you.
NOTE: The advice provided above is part of Consultative Speaking™, a business conversion process that provides Sherpa coaches the fastest way to consult potential clients on the genius of their service to charge premium fees. By using a new framework of presenting which combines the three key pillars of business…marketing, sales and positioning…you too can use the power of predictive learning to upscale your presentations and conversations with potential candidates much faster. The advantage is that you have a tool to close more deals, and at a much higher price point. The net result is that you can build a world class company from a great presentation.
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