Feb 27, 2020
With over forty years of experience as an entrepreneur, Bill Cates can tick off the boxes for having started, built, and sold two successful book publishing companies. He has devoted the last twenty-five years to the art and science of relationship marketing.
In today’s episode, Bill joins James and Dean to explain how he creates exponential business growth through radical relevance. He shares how entrepreneurs can create magnetic value propositions for their clientele and discusses the strategies that entrepreneurs should take note of.
These tactics include figuring out your niche, focusing on a specific market, and learning how to approach customers in a way that displays empathy for their situation. Get your pen and paper ready because Bill digs deep. If you’re an entrepreneur struggling to get or keep clients, you don’t want to miss any of these gems.
The only differences that matter, matter. – Bill Cates
Outline of This Episode
- [05:05] What is radical relevance?
- [08:45] How you can create value proposition
- [18:50] The upside of zeroing in on a specific type of clientele
- [22:47] The different ways to reach out to your clients
- [29:09] How to use the billboard test
The two main challenges that entrepreneurs face
Getting the word out about your business can be quite a challenging feat, especially when businesses open simultaneously with almost the same products or services. Sometimes trades get overshadowed by newer industries, and that can frustrate entrepreneurs.
Bill discusses the two major challenges that businesses face today. With all the possibilities that come with the internet, some entrepreneurs don’t know how to take advantage of all the resources at their fingertips to get their businesses off the ground. Most people get overwhelmed and find themselves stuck doing what they’ve always known instead of adapting to the new changes.
How to create value proposition
For a business owner, the value you provide the moment you meet someone is crucial. Most entrepreneurs have no real target market and typically end up doing shotgun marketing which results in no customers.
You have to taper the focus in on the target market in order for you to know your value proposition. The narrower, the better as long as certain criteria is met so that you can find the right fit client. Once you have figured out your target market, you can then continue communicating your value to attract the right people for your business.
The tactical side of reaching out to clients
Once you have decided on your target market, the next move is to know how to reach out to your potential clients. Bill emphasizes that it is pertinent to differentiate yourself from the competition without talking bad about others.
He also highlights the importance of doing research about your clients before reaching out to them. Whether it be cold or warm research, once you know a little more about your market, you have a more in-depth context of who they are, which leads to more personalized connections.
Resources & People Mentioned
- Bill Cates’ Website: https://referralcoach.com/
- Bill Cates on Facebook: https://www.facebook.com/ReferralCoach/
- Bill Cates on Twitter: https://twitter.com/Bill_Cates
- Check out his book, Radical Relevance: https://referralcoach.mykajabi.com/radical-relevance
- Check out his Free Guide: http://www.exponentialgrowthguide.com/
- Check out Biz Dev Done Right by Caryn Kopp and Carl Gould: https://www.amazon.com/Biz-Dev-Done-Right-Demystifying/dp/1599326795
Connect With James and Dean
James P. Friel:
- CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
- Facebook Group: https://www.facebook.com/groups/hustledetox/
- Site: https://jamespfriel.com/
- Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
- Blog: www.DeanHolland.com
- FB Page: https://www.facebook.com/DeanHollandHQ
- Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/
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