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SPEED FUND LLC
Contact Dave@speedfund.net
In this day and age we have an amazing ability to connect with pretty much anyone in the world we want to.
A few clicks and bam! We’re connected.
Online marketing definitely paves the way to reach your target audience, but how do you successfully use social media as a vehicle that leads to a sale?
The answer is so simple, which is why I think it’s completely missed.
In fact, even seasoned Entrepreneurs fall victim to these 4 deadly mistakes when it comes to online selling …
Mistake #1: A Conversation?
One of the biggest mistakes I see people making online is the absolute avoidance of a real conversation with another person.
Yes, I do realize we live in a “text” and “chat” society these days, but does that mean conversation is dead?
What happened to an old fashioned phone call?
Back in the day when I was first using Facebook to connect with potential clients, I would
message someone and I’d say, “It looks like we run in the same circles. We have 75 mutual (friends or acquaintances). I’d love to connect with you.”
The next thing you know we’ve connected. I’d then say “I’d love to schedule a call and learn a little bit more about you and your business.” If I didn’t end up having a conversation with them right off the bat, I’d message them once in a while with something I thought would add value for them or their business.
Or I’d ask them what they thought about XYZ if it fell in their wheelhouse.
Next, I wanted to test out LinkedIn as a way to target other CEOs who were also Florida Gators. After I identified them, I’d send this intro:
“I noticed you’re a fellow Florida Gator Entrepreneur. I’d love to be able to connect with you and see what your journey has been like and what you’ve going on now.”
Many people would reply back saying, “I get hit up day and night, but because you’re a fellow Gator, I’m happy to connect with you and have a conversation.”
Conversations many times start with the commonalities between us. What are the interest points?
Here is the secret… Allow the person to tell you about them and their journey. How they got to where they are now.
The ONLY purpose of the conversation was to start to build a relationship. No pretense. No selling.
Just an old fashioned real-world conversation.
When I wouldn’t pitch them at the end, they’re like, “You’re not pitching me?” I’d say, “No, it’s great to meet you. What’s the biggest pain challenge or problem that you’re having in your business?” They’ll tell me and then I’d say, “Would you like some insight on that?”
I don’t go for a one-call close. I always want to leave it hanging and want them to come back for more.
In that first conversation, the only goal is to add value and understand the pain, problem, or challenge they’re having.
If I feel they are someone I know we can help, I start the “frame”. If there looks like there’s interest, I’ll set another call with them (inviting all the key players). That’s where I lay it all out for them and discuss our proposal. If I feel in my gut, that it will take two, three or even five calls to build the relationship, I’ll take the time.
Why does this work?
Alas, here’s the simple answer you’ve been waiting for me to reveal …
It’s still ALL about relationships.
And it begins at the very first connection point.
BTW: Here’s a tip if you want to lose people right from the get-go …
Once someone says they’d like to talk, send them this reply:
“Here’s my calendar link, go book an appointment.”
Guess what? 9 out of 10 people will not click your calendar link and set an appointment. You’ve lost them.
Instead, here’s your opportunity to reply with:
“Great. I’m available. Do any of these three times work for you this week?”
Keep the conversation going. It’s predicated on building value.
Mistake #2: One click, and DELETE
Too many people targeting on social (especially now LinkedIn and Facebook) are taking the approach of: “Where’s the quick win? Who can I solicit right away?”
It drives me nuts when people hit me up on LinkedIn with a templated script. They don’t know how much their first touch point just kills their credibility as I know they are just trying to sell me something.
Guess what happens next?
One click, and DELETE.
Do you think your prospects are any different?
The question these folks should be really be asking themselves is: “How can I add value to someone’s life before money ever exchanges hands?”
Think personalized, relevant value assets.
Value assets build trust and rapport. They are the stepping stones to building strong relationships with your ideal prospects.
When you build assets, you lead with value.
Leading with value results in a more consistent and predictable lead flow of the right ideal prospects …
They also serve to disqualify those who are NOT your ideal client.
It takes as much effort to sell something for $100 as much as $500 or even $5000. Think of how much an easier “sell” it will be if you’ve already created value for them, and trust and rapport has already been established ...
Mistake #3: Who Are You Really?
There is no doubt about it. People are going to check you out to answer this big question in their mind:
“Is this person legitimate?”
They’re going to check out your website. They’re going to search for you on Google. They are going to try and find out all the information that they can on you.
When they do find you, they will start looking for anything inconsistent (it’s just human nature).
What we’re ALL looking for is TRUST when we are looking to buy something.
Like it or not, people are constantly making decisions every time they’re watching a video or they go to a page on your website. They are looking for answers to these questions:
“Is this person for real?”
“Can they really help me?”
“Can this product or service really solve my problem?”
“Is this the company for me?”
“Are we aligned?”
It’s incumbent upon each of us as Entrepreneurs to make that decision very easy for them.
Mistake #4: A video is worth a thousand words
I remember reading a statistic that was put out by YouTube a number of years ago. From a study, it was shown that over 70% of CEOs would rather watch a ten-minute video on YouTube then read a long email.
Even if CEOs aren’t your ideal client, how many others do you think this statistic also applies to?
A couple times when I was speaking on stage, I’d ask, “How many of you would rather watch a 5 to 10-minute video then sit there and read a long email?”
Almost everyone in the crowd raised their hand.
Most of the clients who end up moving forward with us, have watched at least five or more videos on our website or on YouTube that I’ve put out over the years.
By the way, did you know that YouTube is the number two search engine? When I want information, I go to YouTube before I go to Amazon or Google or Facebook because I want to hear what real people have to say. So does your target audience.
Videos can also elicit a more emotional reaction from people. Even if no one remembers the entirety of your “story”, they will certainly not forget how they felt about it.
In fact, video is so powerful, that Facebook and Instagram changed their entire algorithm to support video over posts. Why? One of the things they found was that the average person scrolls over 300 feet a day.
Wow.
The next thing they discovered was that the more videos that are shown to people, the more it slows down their scrolling behavior, as people click on videos (therefore they stop scrolling).
A recent HubSpot study (including 3,000 respondents) reported than more than half of the people surveyed indicated they wanted to see more video content from the brands they support.
Bottom Line: Videos get more attention, so why not start using them?
Online selling is no different than offline selling. The exact same principles hold true, and it all begins with the first touch point.
If you always keep these in mind, you’ll do just fine …
If you struggle with online sales and are looking for a Done-For-You solution to attracting a constant stream of the right prospects into your funnel, our Leads on Demand program might be right up your alley. Simply message and we’ll get you more info.
To your success,
David
I recently read an article that further validated what we already know about the importance of cultivating a strong company culture ...
Here’s what REALLY grabbed my attention:
“Companies with strong cultures have seen a 4x increase in revenue growth” ...
And ...
“Companies that appeared on Fortune’s annual 100 best companies to work for list also see higher average annual returns, with cumulative returns as high as 495% compared to 156%” ...
To read the full article on Forbes.com, click HERE.
There are very few elements that continue to contribute to business success like culture does.
How I KNOW this to be true …
We have a team member that recently came on board with Business Nitrogen that has worked with some of the top direct marketers in the industry. After working with us for a few months, she told me that in the last 24 years, she has never seen or experienced a company culture like ours before …
The difference compared to other companies was literally night and day.
This is not the first time I’ve heard something like this, either from members of our team or from our clients.
Can you say the same?
If not, here’s some unsolicited advice. Start looking inward at your existing culture so you can start making necessary changes now before it's too late.
If this happens to be a new area for you, here’s how I explain the architecture of company culture to our clients …
I describe 3 vital pillars that equate to culture. They include core values, core purpose and a BHAG (big, hairy, audacious goal).
In a recent Infinite Business Newsletter, I gave you my tip on how our company created our BHAG before focusing on any of the other components of culture. We did this because I found it easier to keep the end goal in mind when designing the foundational elements that would directly and intentionally support it.
Then we focused on our core values.
Core values are the set of beliefs that should guide your decisions, unite your team, and define what your business stands for. Most companies have three to five core values, but there really is no limit.
Creating core values is NOT as easy as it sounds.
If that’s been your experience, try this exercise:
Ask members of your core team to identify two team members they feel are key players in the business. These people should embody the heart and soul of the business. Ask them to write down the summary of "why" this person is on the list. Then have them write down the person's characteristics that stand out. The common words and phrases are the perfect starting point for the core values discussion.
If you don’t have a team, ask a trusted confidant to help you. Mine was Bob Sears. Not only is he my colleague, he has known me for 12+ years, and he is a trusted friend.
It took us weeks to create our core values … I remember getting on Zoom calls with him hours at a time to brainstorm and collaborate on this.
After we created what we thought our core values were, we’d both post them somewhere where we could see them multiple times a day.
We kept looking at them to determine what needed to change for them to be 100% “true”. We’d ask ourselves: Do these accurately represent who we really are?
We both committed to getting them 100% right (however long it took). And you’ll know when you’ve got them right when there is no question at all in your mind.
This might help too … Check out our core values below:
It’s the implementation phase where things usually fall apart when it comes to core values....
After creating their core values, business owners usually tuck them away in a drawer never to look at them again.
Or they are put on display with no explanation of what they mean or why they are there.
Here’s the thing …
In order for your core values to truly make an impact and become a vital piece of your company culture, they have to be brought to life.
They need to become living, breathing principles that everyone in your company strives to live by every single day.
For example, we have weekly meetings in our company with the sole purpose of reviewing and exercising our core values. Each member of the company participates and examples are given how our core values were exercised the week before.
Your core values should also be what your team holds each other accountable to each and every day.
More specifically, we practice Diagonal Accountability at Business Nitrogen.
If a member of the team doesn’t get something they need from another team member, they have no problem addressing it with them (even if that person is me). No one on our team avoids an impending conflict, or feels threatened by accountability. We all look at it as helping one another be successful.
Open, honest, and transparent communication is KEY in our company culture. It’s the only way to successfully overcome any challenge we encounter.
I’m very proud of our entire team here at Business Nitrogen. And in order to grow and nurture a high-performing team like ours, we are very intentional about who we “invite in''.
As a result, our hiring criteria is heavily based on our core values. Plus, it’s also a great way to attract the “right” candidates.
During our interview process, we repeatedly communicate what our core values are, and what they mean to us as a company.
This allows each candidate to clearly understand what they will be measured against and held accountable to if they get to join our team. If at any point we don’t feel a candidate resonates with our core values, we stop the process.
Last but not least, our core values also qualify our clientele. If a prospect doesn’t align with our core values, they are not a right fit client for us. If they are a right fit, this also acts to establish clear expectations for everyone.
Like I mentioned earlier, there are very few elements that continue to contribute to business success like culture does.
Start working on creating your core values and make the commitment to see it through.
As always, I’m just a reply away if you need help.
To your success,
David
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So you're ready to build a website, one of the very first steps is purchasing a domain. However there's a lot of options on the market to choose from. Nowadays you can Buy Domain names from a variety of website providers, domain registrars and web hosting companies. While either service will get the job done…many people overpay or leave their personal information vulnerable to scammers. That's why we created a list of 4 common mistakes to avoid when purchasing domain names.
Buying everything from a website builder - This is like "putting all your eggs in one basket." Although getting a FREE domain from the same company you’re building a website is convenient… it may cost more in the long run. Website builder softwares typically allow customers to get started at no cost, however upgrades are required for special features like custom domain names which range from $10-$50mo!
Not checking Renewal price - While promotional offers can be attractive please read the fine print! Some domain registrars & website providers offer a FREE domain for the 1st year then charge you twice the price for renewing. Take a moment to compare rates and buy domains that renew at fair prices.
Choosing monthly subscriptions - Website providers are known to offer monthly subscriptions as a payment option. The downside of using this method is the possibility of missed payments. If you forget to pay their monthly fee or become unable to make payments, website providers can disable your account and unpublish your website. We recommend registering domain names on a yearly basis.
Purchasing Domains without privacy - Not understanding privacy protections (WHOIS guard) could result in having your personal contact details on display and potentially paying extra to hide it! The good news is that most website builder software include ‘Free domain privacy’ which means your personal details will be protected in the WHOIS directory. This will also prevent SPAM with a private email address for domain inquiries. So make sure your domain purchase includes privacy.
In conclusion, whether you’re building a sales page, blog or website you’ll need a domain name. Ultimately, the goal in building a website is to have more control over your online reputation. That’s why we recommend buying a custom domain name. If your not familiar with those terms, checkout our past blog post explaining “custom domains” in more detail. Moving forward, hopefully this blog post cleared up any confusion and helped you choose the the best option when buying a domain!
