December 19, 2011 2 Comments
I freely admit that, in some areas, I am denser than an iceberg made of iron. In a few key respects, my mind runs with Olympic sprinter speed and dexterity – but in other ways, I learn at a glacial pace, only after so many crashes against the wall that I look like Rocky’s sparring partner on a very bad day.
But this year, I may have finally begun to turn the corner on one thing that I’ve believed (in my head) for many years, but failed to fully embrace (in heart and practice). When building business, Go With What You’ve Got.
You see, I often tell others that you really want build a small, high-quality, close-knit network – a tribe in Godin-speak – instead of expending all your energy in amassing numbers. I don’t know how many blog posts I’ve written along these lines, and in many respects, I’ve practiced it – but, when it came to my primary revenue-generating pharma network (Impactiviti), I harbored a secret addiction to going wide instead of deep. There’s nothing inherently wrong with widespread recognition and messaging – but then I kept looking at where the revenue was truly coming from. And lo and behold (no surprise to any of you quicker learners out there), revenue was coming from a handful of long-standing customers/advocates. All the mass reach in the world, while good for the long-term, wasn’t really the driver. It was taking care of the people who already believed in me, and who talked me up to others. I finally started pro-actively investing much more time digging deeper than going wider.
This simple insight, finally burrowing its way from mind to heart, re-shaped some of my social networking practice as well in 2011. I’ve always invested in the idea of cultivating a close “inner circle” of quality people, but it was difficult to set aside the broad reach model in practice. Somehow, the only thing that gets the applause lines is big numbers. Yet, I already had a wonderful circle of friends with whom I could cultivate deeper bonds. Did I really need to pour a bunch of energy into Google+, or worry about an influencer score, or be concerned about blog readership statistics? Not that any of those things are bad in themselves (well, maybe Klout…right, Sam Fiorella?), but I don’t really “need” mass numbers. I can barely cultivate deepening relationships with the wonderful people I already know.
Finally, this “go with what you’ve got” lesson came home to me in a very unexpected new business direction. As many of you know, I have been building, behind the scenes, toward a grand vision I’ve had for years of a trusted referral network for building new business (Connection Agency). Yet, the very week I made this initiative public, an entirely different avenue of new business potential dropped into my lap – something that I already had been doing but didn’t really understand could be a business in itself. Doing Brand Therapy with individuals and companies has turned out to be the most fulfilling work I’ve ever done – yet it came to the fore only because I had some unanticipated extra time in Chicago pre-SOBCon and decided to do some free “therapy” sessions with people. Now, this practice has become a growing revenue stream in its own right, while Connection Agency has been on the slower development track.
Turns out the keys to success in 2011 were under my nose the whole time. As Thomas Carlyle put it so many years ago, “Our main business is not to see what lies dimly at a distance, but to do what lies clearly at hand.”
Great advice for both business and leadership as we look ahead to 2012. What are the opportunities already at hand? What are you already bringing to the table? Who are the customers that make your business fly?
In fact, on Tuesday (Dec. 19th) at 8 pm ET on Twitter during LeadershipChat, we’ll be discussing our most important Leadership Lessons from 2011. Here’s one from my lovely co-host, Lisa Petrilli (My Most Life Opening Leadership Lesson of 2011). What’s yours? Feel free to write a blog post about it before, or after, the chat, and share your wisdom with other members of the community!
Hire Steve Woodruff if your identity and message need clarity (Brand Therapy)
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