#Hidden business opportunities how to#

I can point you to some of the best folks in the business. You’ll even wonder what took you so long to do it. But if you want to grow, having someone with a new perspective is just the thing you need.

This may be uncomfortable, even scary when you think about showing someone all the parts of your business (i.e. Choose a consultant, coach, or peer advisory board – just choose someone who can come in from the outside with a fresh pair of eyes. You can reach your goals if you hire someone to sit down with you and evaluate your business. Blind spots are everywhere – in marketing strategies or assessing people or products.

The problem comes in because we are too close to the issues to see the bigger picture. What does this mean for you? Everyone has hidden opportunities for profit in their business! Using this new approach, Ron said the prospect loved the program and wanted to roll it out to his 2,000 employees! Soon after our conversation, Ron called me and informed me he had met with another high-end prospect. Ron would be able to hit his $1 million goal in less than three years. Then he would charge the client for it on the backend. We decided he should be using the classic technique, “give them the razor and sell them the razor blades.” Ron would start giving away the product he had been trying to sell. After a little discussion, he realized it too. Inflation is a rising concern for everyone. Labor and supply shortages are putting comparable pressure on the restaurant industry, forcing many stores to continually adjust menus and prices to keep up with the escalating costs of wages and food. By looking at his offer, it became apparent to me why they rejected him. home prices increased a staggering 23.4 from the previous year. While Ron had approached some very high-powered prospects, he was continually turned down. We spent the next hour taking his business apart and examining his business model and marketing approach. However, I suggested that we hold off of lowering them and find a way to hit them. He thought that maybe he should lower them so he could feel more comfortable. When I asked him more about how he felt about his goals, he admitted that he did want to achieve them, but they seemed too lofty to attain. Once he told me this, his leg started twitching. His primary goal was to be at $350,000 in revenue within five years and then someday he wanted to reach $1 million in sales per year. So I reassured him that we would find the path to reaching his goals together. Sometimes what is needed is to look for hidden opportunities that already exist within the company. Most of my clients are in similar situations. Yet, after three years, his business may have been in the black, but he was frustrated because he was not close to his dream company. I knew he was excited about his business’s potential when he set his appointment. Often when I meet with a client, they are a bit nervous. Do not misrepresent this information as a referral.There are Hidden Opportunities in Your Business You Can’t See! You may choose to mention in your communication with these consultants that one of your clients is ABC company. The authors advise visiting your customers' sites to see who they list as their clients. See vFinance or the National Venture Capital Association for information on VC firms.Ħ. The consultants that receive these investments usually invest the money relatively soon in a variety of areas.

#Hidden business opportunities how to#

Venture capital firms sometimes invest in management consulting firms. Individuals listed provide advice to small business owners on individual procurement opportunities and how to do business. Such leadership moves are often made public in corporate press releases, in the business section of local newspapers, and trade publications.ĥ. Typically, the new executive is eager to make changes, and the company is prepared to support such initiatives with new spending. A new executive hire represents a threat to the current service provider and an opportunity for new providers. 020: Clinton Beck from Beck Antiques and Jewelry joins the Entrepreneurs of Edmonton podcast to talk about his journey of selling old pop bottles to. A company bringing new managers aboard creates tremendous sales opportunities. Employment ads are available in many places, including local and national newspapers, job websites, and trade magazines and publications.Ĥ. If you have expertise and skill in a specific subject. For instance, if the company is recruiting a senior IT security specialist, then it's logical to assume that the enterprise is prepared to make further investments in tech products and services. Freelancing has a great business opportunity for people who are looking to work on a part-time basis. Want ads, when read properly, can be a huge source of opportunities if you are seeking new clients.