I just finished reading This Is Strategy by Seth Godin. It’s a profound book written in a way only Seth Godin can. He always tells me what I need to hear without telling me exactly what to do next.
My mind is racing. I’m thinking about my strategy to grow The Shop. I want to apply lessons from Stodzy while staying open-minded and not convincing myself I know better than I do.
In today’s issue, I’ll share my growth strategy for The Shop. I hope these concepts spark insights for your business and your life.
LFG. 🔥
Getting New Clients
The Shop is a high-end agency. I use it as a cash-generating machine to fund my portfolio, so consistently generating new business is crucial.
In client services, one asset is more valuable than all others: reputation.
Over the years, I’ve tried many ways to get new clients and have found success in several. For high-level digital marketing, SEO has been the most effective by far. But traditional referrals have made me more money than any fancy tactic, probably by a margin of ten or more.
My goal with The Shop is not to get big. I aim to stay small and highly profitable. To achieve this, I’m focusing my marketing efforts on relationship building.
If I get a client through a YouTube video, my website, or LinkedIn, that’s great. But my strategy is to meet new people, expand my network, and protect my reputation at all costs.
I know that as I continue to serve others, then new opportunity will find me. That’s the way the universe works.
Network Effects
How can I create a network effect that rewards people for being part of the system?
Fax machines became valuable because when you told colleagues to get one, it made yours more useful. Instagram thrives because everyone uses it.
Without a network effect, a business grows linearly. That’s not bad, but it requires more effort to generate outcomes.
Service businesses typically lack network effects. How can I design a system that rewards customers for being part of the network and incentivizes them to refer clients because doing so improves their own lives?
I’m not sure yet. Here are some ideas:
Growth Program: Clients become part of an alliance with access to a VIP group for networking, relationship building, and scaling.
Membership Program: Exclusive webinars, interviews, audits, and insights available only to customers.
Savings Program: For every client referral, the referrer gets a percentage of their invoice discounted.
Rewards Program: Personalized gifts and handwritten notes as acts of gratitude. This could be amplified on social media since people love sharing thoughtful gestures. For instance, a reader recent sent me Eagles hats for me and The Little Dude, and I was so touched that I shared it with all my friends.
I’ll keep thinking about this, but I’m committed to building a community of excellence. I don’t need exponential growth, but I want signing up with The Shop to offer benefits beyond the services provided.
Conferences and Speaking Events
I’ve always avoided conferences, telling myself I’m too shy, but that was just a lie because they make me uncomfortable. Yet every conference I’ve attended has been a great experience.
Traveling without my family is tough, but I don’t need to conquer everything at once. I want to get in front of more people.
How can I:
Present on stages?
Speak at virtual summits?
Be a guest on more podcasts?
Meet more people?
If my sales strategy is relationship-based, I need to put myself out there. People won’t magically come to me asking to work together. I must make myself vulnerable. It’s scary, but what’s the alternative?
Patience
Is patience a strategy?
Yes.
Last year, my anxiety was at an all-time high. I wasn’t sleeping and was living in a constant state of fear. It became unbearable, and my family relationships suffered. I had to make changes.
One catalyst for my anxiety was the belief that I was running out of time. Breathwork with my super hot wife has shifted my perspective on time. Now I know that going slow is fast.
Organization, focus, flow, and patience are now critical to my work. I’m making more progress by walking slowly but taking bigger steps.
Every morning, I meditate and pray:
“God, please give me patience and focus. Please give me patience and keep me from reaching out of anger. Help me be more patient so I can be a better dad and husband. Please give me focus and organization to achieve my dreams and serve the world.”
It’s become an important ritual for me. I say it to myself every morning.
(I also have a nightly prayer I say every night but it’s unrelated).
Patience lets me act with urgency while simultaneously staying in flow. Ironically, I’m moving faster than ever. Without patience, all this hard work is for nothing. Without patience, I may see the rewards of my hard work, but I don’t get to enjoy it.
Thank you for reading.
Writing this was therapeutic. Sometimes, while writing, I’m overwhelmed with intense feelings of gratitude, and this is one of those moments.
Ever since I was a boy, I’ve wanted to be a writer. Now, every morning, thousands of people read and engage with my words. It’s a dream come true.
Love you guys. Talk to you tomorrow.
Tim
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This is great. It’s exactly what I’m trying to do with my Organic AI Marketing agency!
Wow! What a beautiful piece!