The Five Obstacles to Growing Your Business as an Expert
??Randall Craig
Advisor on business growth, marketing strategy, thought leadership, and digital. Author. CEO at Braintrust Professional Institute. Hall of Fame business speaker.
So you're an expert, but business could be better. Uh Oh.
You may have been told that the more you invest in becoming a thought leader, an expert, and an authority, that clients will be beating a path to your doorway. Yes, some do find their way to you, but overall, they haven't.
Why is that, and what can you do about it?
Building a business lives at the intersection of "You asking" and "Their needing." It doesn't live at the intersection of "I'm an expert" and "I'll just wait around".
There are actually five key obstacles that prevent experts from monetizing their knowledge. Thinking about your business honestly, how would you answer these questions?
- Is it possible that those who need your knowledge don't know about you? The expression "fish where the fish are" applies: Make sure that your expertise is actually seen by prospective clients. This can include everything from writing, speaking, video, and networking. Just make sure that these activities take place where your prospects can see them: if you're an expert in finance, for example, you probably should not be networking with hair salon owners.
- Is it possible that there is no market for your expertise? There may have been at one time, but the market may have moved on, while you haven't. Plenty of examples here, from shoe cobblers to Y2K experts. And with the advent of AI, there will be plenty of others who suddenly find that the market for their services has dried up.
- Is it possible that you are not responsive, or are hard to work with? In some cases, experts develop an arrogance that media, prospects, clients, and referral sources find off-putting. And this translates into a poor reputation, and no new business.
- Is it possible that you actually are NOT an expert? You may have expertise, but if others in your market are true experts, it's not reasonable to expect that prospects will gravitate to you instead of them. The further down the expertise curve you are, the more you'll need to shake the trees to get business.
- Is it possible that you never really ask people for business? While it is nice to think about that Caribbean vacation just by sitting and waiting, you'll never actually get there unless you buy a ticket and hop on a plane. Translating a lead into a client is an actual skill. It is unreasonable to think that since you're an expert in one area, you are also an expert at closing a sale.
This week's action plan:
It is never one thing that prevents an expert from monetizing their knowledge. There is some of EACH of these five factors in all of us. This week, give yourself a grade in each of these areas, and then start working on the ones with the greatest opportunity for improvement.
??? Join our next virtual conversation and Q&A session for leaders!
This Month's Topic: Driving Change, Impact and Growth in Your Organization
Your organization has grown, but it seems more chaotic than ever.
Or there has been a major “shock†to the organization (tough economy, M&A, new competitor, new systems, new tech - eg AI), and there is a significant amount of uncertainty or stress.
Or maybe there is a new leadership team, who wants to do things… very differently.
In all three cases, change is necessary, and alignment even more so. But how?
?? How can we drive impact throughout the organization, and have it stick?
?? How can we create an aligned and “thinking†organization?
?? How can we cultivate the “new†desired culture?
Yes, traditional change management has its place, but in this session, we will go beyond, and explore a number of additional concepts:
? The impact and role of a multi-modal approach to change management: Communication/Coaching/Training/Monthly reinforcement/Events/etc.
? Internal vs external execution: When to use - and not use - external resources.
? Getting to neutral vs getting ahead: Using change management to drive competitive differentiation, impact, and growth.
??? Date: Tuesday, October 8 at 12 noon ET
Register here (no cost to attend) ?? https://randallcraig.net/Driving-Change
Please send your questions in advance to ronja@randallcraig.com and we will do our best to address them during the hour.
?? More Business Growth Ideas to Get You On Track
- Upskill your team with a CPD webinar:
????????Take a look at?It's Not Called Thought Followership
- See Randall in action:
????????Watch a recording of Marketing and Competitive Advantage
- Deepen your knowledge with a self-paced course:
????? ? Explore?Building a More Powerful Personal Brand
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