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Brad Gosse Interview – Entrepreneurial Mindset

Brad Gosse Interview on Entrepreneurial Mindset

I haven't done interviews for awhile. Three people have been on my radar lately to talk with, and fellow business owner Brad Gosse is one of them.

As a business owner and entrepreneur, I've experienced my share of ups and downs, and know how easy it is to fall out of the entrepreneurial mindset.

We can all too quickly fall into the perception of personal weakness, lack of resources, and most importantly--in my opinion--loss of the sense of play.

If you aren't playing and having fun in your business, my guess is you aren't trying new things.

And entrepreneurship is all about trying new things.

Brad Gosse Interview

Topics In the Brad Gosse Interview

Brad and I discuss:

> The exact point at which he realized he was an entrepreneur and not an employee

> The deliberate process of the creation and success of his book, The Chronic Marketer

> Being aware of the moment when it's time to transition, pivot and commit

> The all-digital business Brad developed from nothing in Vector Toons

> Social media trolling and viral marketing success with Brushy Bear

> The sense that most entrepreneurs are missing from business development, yet can easily be developed

> What Brad believes is the most important quality for entrepreneurship.

Join us here for the full interview:

 

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This Brad Gosse interview was at my request, and neither party was compensated for their participation.

>> Jason Kanigan is a business strategist focusing on market entry and conversion. Book a call with Jason to discuss your project here. <<

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How Do I Get More Clients?

A very nice and well-meaning web designer just asked in an expert platform I'm a member of...how do I get more clients?

My response:

You have four jobs to do.

1. Attract/identify leads.

2. Qualify those leads.

3. Convert the qualified leads.

and

4. Fulfill the orders.

Do you have a system for each of these?

4. can lead into 1. with referrals.

Prospecting to Answer 'How Do I Get More Clients'

how do I get more clients - landing big fish

You want as pre-qualified a lead as you can get.

Qualifying is filtering. In or Out, doesn't matter which.

Do you know your numbers?

How many qualified leads do you need to know you'll get a project? This is different for every person or business. For me, I need a very small number of qualified leads to make a sale. For you, it might be different.

How many unqualified leads do you need to get one good qualified lead?

Back out into the activities you need to be doing every day. I'll bet (no offense; so are 99.9% of other people) you're sitting there and hoping stuff will come your way. Maybe spending 30 minutes a day looking for new work. Well that is not enough. Needs to be 70% or more of your time spent prospecting! Guaranteed that your prospecting activity, like everyone else's--mine included--is too low.

How Do I Get More Clients By Filling My Funnel?

Fill your funnel.

Unqualified leads >>> Qualified leads >>> Sales.

Work back from the end result.

How much money do you want to make in a month?

How many sales does that mean you need to make?

How many qualified leads does that mean you need?

And how many unqualified leads does that require you to get?

Now you can see how many conversations you need to be having...you can break this down to every week or every day.

In my business, for instance, and remember my numbers will be different--perhaps VERY different--from yours, I need 1 sale a week.

To get that 1 sale, I need 4 qualified leads to ensure I get that sale. Could be 1 in 2 but let's say 1 in 4 to be safe.

Now the funny bit about my business: while conversion for me is easy, finding qualified leads is hard. There are many tire-kickers and broke people who want my help, but are not mentally or financially in the position to afford it. So I need MANY unqualified leads to get one good one!

Again, your business could be different. So let's say I need 20 unqualified leads to get 1 qualified lead.

This means my revenue plan for the month looks like:
20 x 16 = 320 unqualified leads >>> 4 x 4 = 16 qualified leads >>> 4 sales

320 unqualified leads!

If I sit around, hoping passive marketing does the job, will I ever get there?!

No!

I need to plan out my activities based on:

- Video marketing (Youtube)
- Facebook marketing
- Forum marketing
- Prospecting calls

- Referrals (these are great; the way I set it up, 2 referrals virtually guarantee 1 sale; so these 2 referrals take the place of 80(!) unqualified leads, which I can now subtract from my total)
- Talks to audiences
- Webinars

and whatever other efforts of your marketing plan that you decide to run.

Do You Have An Activity Level That Answers How Do I Get More Clients

The point here is: do you have a plan? Until now, I doubt it.

Almost nobody does.

And do you have a high-enough activity level to support your money target?

Most people do not.

Whether they're a corporate salesperson or an independent business owner...they simply don't have a prospecting activity level that supports their money target.

And then they wonder why they didn't succeed. They were beaten before they began, and terrifyingly they had no idea.

>> Jason Kanigan is a business strategist concentrating on sales and conversion. Book a call with Jason to get a personalized prospecting plan. <<

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Sharing New Business Ideas, Trust and NDAs

Sharing new business ideas can be a scary proposition for the idea originator. Here are the kinds of worries people typically ask me about when it comes to sharing their 'baby' with someone else for feedback and possible implementation help.

Do you feel corporations are fair?

I have an idea that could be worth millions to a company. Should I drop it in their suggestion box and hope they pay me?

Should I build a business around it and help them indirectly?

How about getting legal agreements in place and then meeting with the company under an NDA?

How would you protect you business concept/idea? Non-competition agreement? Joint venture contract? Trademark or registration?

Ethics In Sharing New Business Ideas

My answer begins with the statement that business is business, and that is a different world than personal relationships. Loyalty stands for very little, unfortunately. If you find a business associate who values loyalty, try to stay in touch with them.

An NDA/non-compete and a licensing agreement should keep you protected, if you're going the road of giving the idea to someone else to execute.

Let's talk about execution.

This is how an idea's value can really be measured when you bring it to someone else.

How interested are they in executing it?

You have to know this before you meet and disclose the idea.

And then you still have another factor to consider: honestly (or morality). We can do this with a 2x2 grid demonstrating four possibilities in a sort of "Idea Sharing Risk Table":

sharing new business ideas

They are interested and honest.

They are interested and dishonest.

They are uninterested and honest.

They are uninterested and dishonest.

Four Quadrants of Sharing New Business Ideas

Are you starting to see why it's important to know how they rank on these two factors before you reveal your idea?

We're in negotiation now. Which, by the way, is selling. I am not a lawyer and this is not legal advice. What I am sharing is selling advice.

You had better have your BANTA (Best Alternative to a Negotiated Agreement) figured out for each of these four possibilities.

Copyrights, trademarks, patents are all helpful, but they are not bulletproof protection.

Especially patents.

Utility patents, for something like a zipper on an article of clothing being termed as a "device pocket", are the kind of thing Mark Cuban goes berserk about the silliness of. They're the veneer of protection.

Regular patents only protect execution (see how we're back to that word again?) specifically the way you have explained it.

So 3M has a patent on Post-It (tm) Notes.

The patent is for a lightweight strip of glue running across the top of a small piece of paper.

If you can come up with another way of temporarily securing the note to other objects without using lightweight glue, 3M's patent is meaningless. You can just go do that.

That's why when you disclose your idea, the NDA is not really protection. If they can figure out another way of executing your idea, they're home free.

If they are interested and honest, they will tell you so. They are ready to get started, will play by the rules, and you can expect to be paid properly. [SAFE]

If they are interested and dishonest, they will tell you it's an airy-fairy idea, they don't like it, it won't work. But they were quick to agree to the meeting. And they kept asking you questions about how you planned to execute the idea. [DANGER]

If they are uninterested and honest, they again will tell you so. It may be hard to book the meeting. They keep bumping the date. This may be a good opportunity for a reality check, and possibly getting execution ideas from someone who knows how to do the work but isn't going to get involved in it. [SAFE]

If they are uninterested and dishonest, you are going to get the run-around. The meeting will take forever to get, or get booked and run so fast it's like poop through a goose. They may ask a lot of questions to "hedge their bets"...but they'll never execute. [SAFE]

As you can see, most of the time, you are safe when sharing new business ideas.

Risk and Execution When Sharing New Business Ideas

Remember, execution is rare.

You can be sharing new business ideas all you like. People are already busy with their own ideas, which they believe to be valuable. They are unlikely to remove resources from those to execute your new idea.

So overall, you are relatively safe from being ripped off...especially if you are careful who you share your idea with.

How long it takes you to book the meeting, the process they want to follow, how they ask and answer questions...all these will show you their level of honesty. Easy come, easy go. There should be some rigor involved in setting up an agreement like this. Honest people will probably want to see you put some skin in the game, too.

>>Jason Kanigan is a business strategist concentrating on operations improvement, entering new markets, and sales training. Book a consultation with Jason here to discuss your specific situation.<<