08.27.08
How to Capture a New Market
I have been reading General George S. Patton’s account of the invasion of Sicily. Most enjoyable. A great historian and strategist, General Patton is widely considered the best field commander in the American army of World War 2. Franklin D. Roosevelt called him “our greatest fighting general.” Patton once wrote to his wife, Beatrice, “When I am not attacking, I feel bilious.” General Patton and Winston Churchill are my heroes.
When you decide to capture a new market for your business, your approach can be strategic, smart, planned, and effective, or you can do what 97% of entrepreneurs do. Ten years ago, I would have concluded that a particular caller on my recent conference call was either inebriated or mentally damaged; however, after ten years in this market, I realize that he is simply another narcissistic, socialist fool. He asked a question that revealed his utter ignorance of basic psychology, but also of the power of the Joint Venture mindset: “So how can you help me get investors for my real estate development in Costa Rica?”
This type relies on cold calling, shotgun approach advertising, networking with equally slothful and desperate, broke, self-employed salespeople, and wild, groundless lies about the return on the “investment” he is touting. He has no battle plan, no brains, and no pity from yours truly. This is how most employees who pretend to be entrepreneurs try to capture a market, and why they fail so miserably. Let us expend as little time as possible exposing the hopelessness of his approach, and then move on to what actually works.
First, the caller has no traction, credibility, leverage, or relationship with me, and yet he asks me how I can help him. A beggar on the street would get the same amount of attention from me. Why would I want to help him? I only tolerate his ignorance out of courtesy to the person arranging the conference call. I have no reason to help him. Second, his arrogance knows no bounds. He is not interested in learning about Joint Ventures, only how to make another dollar off some unsuspecting and equally slow “investor” in his scheme. Let’s move on to what works.
Here is the simple answer to capturing a new market: First, decide what your ideal demographic is: Whom do you want to sell your products and services to? Second, determine who, exactly, has access to, influences, controls, communicates with, and has the attention and respect of that demographic. These people are Centers of Influence. They are the key to fast, effective, risk-free access to the market you want to capture. Third, develop a specific plan to meet, impress, and get the active cooperation, assistance, and support of these Centers of Influence. And this is where the Joint Venture Mindset comes into play. You have to give me a very compelling reason to help you. You have to develop an intelligent strategy to get my attention and build a relationship with me. And in order to do that, you have to know a lot about me. Third, set up and execute a Joint Venture with each of the Centers of Influence that allows you to capture the market fast, in a bloodless coup.
Joint Venture Brokers are strategists. They understand psychology. They are capitalists, who expect to pay for the value they receive. They are realistic and street smart, so they work smart instead of hard. They don’t have that sense of entitlement that permeates our society. They develop their skill conscientiously. They understand the importance of long-term, reciprocal, symbiotic relationships in business. They are consistent, persistent, professional, and honest. They plan their campaign with the JV mantra, “No money, no risk, little time” running in their heads, and differentiate themselves from 97% of others by using their heads and creating massive, unprecedented value.
Joining the DollarMakers Joint Venture Broker Club gives you instant access to hundreds of potential JV partners in 15 countries. If you have a business, you can also consider the services of one of our DollarMakers Certified Business Mentors.
Robin J. Elliott www.DollarMakers.com
