The Ceiling Problem
For those of you following along this is yet another day of Flu Mageddeon over here so I'm writing this one fast before I get too loopy.?
Often when I'm having conversations with entrepreneurs who want to move upstream in terms of their offers and what they charge, I have a conversation about ceilings.
?Every industry has an income ceiling.?
No matter what industry you're in there is a number that to that industry is considered a lot of money, but interestingly enough that number is small or insignificant in another industry.?
Take for example independent theatre where small companies do shows in 99-seat theatres and sell tickets for $15.?
In that industry, $1,000 would be considered a meaningful donation and $100,000 would be considered Nirvana.?
Now take the finance industry and what significant money is to a hedgefund owner. $1,000 is laughable
It may even be a lunch.?
Why??
The income ceiling is MUCH higher.?
The next question that always comes up when I explain this idea is how to "break in" to that industry with the higher ceiling and command the higher prices at which point I have to share an uncomfortable truth:?
There is no "breaking" in.?
The second you start thinking of approaching a market or an audience you don't know as breaking in or worse getting your "foot in the door", you're in for a lot of disappointment.?
Connecting with new markets is not about breaking in.?
It's about cracking a code.?
You have to dial in multiple elements until you are speaking in such a way that the market with the higher ceiling turns and asks you to come in WITHOUT even knocking at the door.?
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The question is HOW do you do that??
That's one of the things I'll be tackling in the Cracking Cold Workshop I've been yammering on about the past few weeks.
?in it I'll be sharing:?
The six elements you absolutely must pay attention to BEFORE you even approach a cold audience.?
What one of television's most popular shows can teach you about stopping the scroll of people who have never heard of you and getting them to answer your email even in a sea of SPAM?
The most dangerous buyers out there and how many well-meaning companies accidentally attract them leading to refunds, charge-backs, and stop-payments.?
The single most important mental shift you need to make in the way you think about your products and services. (This has nothing to do with mindset)
And plenty more.?
But before you click the link a word of warning:?
This is a?workshop?with the operative word being?WORK.
?It's not just a presentation of information, I'll be taking you through a process where you'll be working on your approach for cold audiences in the moment and connecting with others like yourself so only come if you're willing to dig deep and if you're willing to reach out.?
So if you're ready to start Cracking Cold and find some higher ceilings, all the details are?HERE.?
Look forward to seeing you inside.?
Excelsior!?
P.S. The seats for this workshop are limited and more were scooped up yesterday so if you're even remotely curious, I'd click the link sooner rather than later. That link again is right?HERE.?
Managing Partner and Chief Dot Connector at Domestic Growth Capital, LLC II Healthcare Evolution Group
1 个月"Cracking a code" indeed. Feel better, Michael - I am battling the same from here. Hopeful I can move past this soon. Getting quite annoying to deal with, for certain
Nonprofit Development Leader | Grant Writing, Strategic Partnerships, Organizational Growth
1 个月1) Feel better! 2) This sounds great! 3) Do you think the workshop would translate for reaching new donor audiences/funding partners for a nonprofit?
Memoirist, Playwright, Founder of Axial Theatre
1 个月Where can I get your book?
Memoirist, Playwright, Founder of Axial Theatre
1 个月Wonderful Michael. Good fortune for us both! My first memoir is being published, available around 3/1. You still involved with theatre?
Memoirist, Playwright, Founder of Axial Theatre
1 个月Love this