Our country was founded on the Principles of God and Two Common Laws
1. Honor all Commitments; Do what you said you would do.
2. Do not covet; Never encroach upon another’s person or property.
There are NOW tens of thousands of man-made laws and regulations in this country derived from man’s belief he can supersede Gods Natural Laws (Principles) and somehow fair better.
When you understand the Principles it is easier to spot the laws and regulations that no longer serve justice but rather simply serve the political system that is now in control.
My point is: A foolish person memorizes formulas. A wise person understands principles.
Wisdom doesn’t live by a set of rules, but in the understanding and applying the principles behind them
You can recognize a Principle because they are:
Universal – They work everywhere
Timeless – They work all the time; past, present and future
Self-evident – You can’t argue against them.
Especially as you start out in life, always look for the opportunity to dominate a small pond or market; and then keep either adding “ponds” that you dominate or move to slightly larger ponds and dominate them.
Find your niche; find your audience and become the “expert” that others flock to, to ask you to help them solve their problems.
This is about finding or creating ways to differentiate yourself and make yourself stand above the crowd.
When I first started to sell cars, I became the product knowledge expert in our dealership. When anyone had a product knowledge question, even management or other departments, they came to me first.
By becoming an expert in this niche, it gave me a lot of latitude, respect and eventually a management position…which eventually helped me to my purchase my own dealership.
When you are the Big Fish in a small pond it is easier to create lasting relationships, it is easier to demonstrate your worth and it is easier to stand out.
A critical Rule of this Principle is Constant Improvement.
Be a Big Fish in a Small Pond…and always be looking to seek or make a bigger pond.
This could be a geographic pond; psychographic, product, pricing, expertise, etc.
1. Pick a certain type of consumer. Example: Death Wish coffee has decided to market their coffee to the consumer who wants extra caffeine.
2. Create a different kind of experience when the customer visits you.
3. Constantly change what you offer – like TJ Maxx
4. Focus on Price and/or Value.
The possibilities are endless.
Principle of Big Fish in a Small Pond can be articulated in marketing like this: It is better to reach 10% of the market and persuade them 100% of the way than to reach 100% of the market and only persuade them 10% of the way.
There are three things we focus on when we help our clients and all of our plans are based on them.
Market – Who is your Target Audience and what is their “language”.
Message – What is your USP (Unique Selling Proposition; your story)
Media – Which media(s) are best suited for you at this time to give you the highest ROI
We believe in and understand Facebook marketing, email marketing and utilizing video in both to enhance your persuasion.
But, there are times media like newspaper, direct mail, radio and/or television are appropriate.
You can even utilize this principle when purchasing space and/or time on these different media platforms.
As a small business, you don’t have a huge budget to spend like BIG business so you need to spend wisely.
Always think ROI (Return on Investment) and how QUICKLY am I realizing this ROI in terms of profit and cash flow. Money I can put into my bank account TODAY! If you want immediate improvement to your bottom line, you have to implement Immediate Response Marketing regardless of the media you choose to use.
I learned marketing principles from Jay Abraham and hired him as my mentor for about a year when I first purchased my dealership.
His favorite saying to me was: It is better to talk to 10 people who want to hear what you have to say, than 100 tire-kickers.
Here’s the Principle to remember and burn into your mind:
It is better to reach 10% of the market and persuade them 100% of the way than to reach 100% of the market and only persuade them 10% of the way.