Posts Tagged ‘Pauline O’Malley’

Ask the Experts: Premium value placed on business specialization

How important is specialization to business growth?

MICHELA QUILICI – Marketing strategist and Ghost CEO adviser, Q. Consulting

Re-posted from Business in Vancouver – January 20, 2015

“The quickest way to business success is to be a big fish in a small pond, not a small fish in a big pond.” This is the Ghost CEO mantra. If you solve a niche problem really well, it’s almost inevitable that you will grow. Once you have a proven model for success, then you can increase the size of your pond and leverage what you’ve mastered for one vertical and open up new markets. If you trace back some of the most successful businesses to their early days, you will find that the majority that are in a mass market today first made their money targeting niche markets with a specific offering.

PAULINE O’MALLEY – Business development strategist, RevTurbo Selling System

The secret to successful selling is connection. Does your product or service connect with the audience that you are communicating with?

I have found over the years that matching “likes” to “likes” is paramount when building a winning business development campaign and closing deals. You probably have heard the expression, “Birds of a feather flock together.” People have a tendency to say “yes” more often to people they trust. People generally trust people who have things in common with them.

I had a client in manufacturing under second-generation leadership. After analyzing their product mix and their areas of expertise and carefully considering their available resources, we encouraged them to cut 172 products from their production line and focus 100% on one area. A bold move? Yes, and for the past seven years they have surpassed their annual revenues by 20% or more each year. It wasn’t a light decision, and there was lots of discourse, but in the end, the team effort to focus on one thing continues to pay off.

It’s a big world out there. Companies have limited resources. Sales representatives have limited time. Match who you are, and the values you express, to the people in specific market sectors.

If you have an interest in mechanics or building things, then you could narrow your focus to people in the manufacturing, industrial or engineering fields. If you like numbers, financial analytics and wearing suits, then you could find success in the banking, financial or insurance sectors.

When you connect with your sales audience, you increase the potential to shorten sales cycles and close more deals. You may also have more fun.

Read the entire article here.

Knowing What You’ve Got

One of the best things about this time of year is the opportunity to take stock. We find ourselves reflecting on our accomplishments for the past year, what we are grateful for and thinking about the future. Sometimes, knowing what we’ve got, may get us farther, than wishing we had more.

Here is a list of a few things to consider:

1. We are connected.

In the age of LinkedIn, Facebook and YouTube, we know a lot of people. According to one survey, 69% of Canadians visited at least one social networking site in the past year and 87% of households are connected to the internet. Take the time to tell someone that you love them, especially if they don’t expect it.

2. We are rich.

In 2013, The median family income in Canada was $76,000. The median household income in the United States was $52,250. The median annual household income worldwide was $9,733. Could some of us use more money? Yes. However, if you feel you have a little left over, donate.

3. We have lots to eat.

Too much actually. In a 2013 United Nations report 1.3 billion tonnes of food, about a third of the world’s supply, are wasted annually, costing global economies $750-billion (U.S.) and negatively impacting the environment – at a time when 1.2 billion people are living in extreme poverty. Moving food from those who have it, to those who do not, is a logistical challenge. Individually, we can contribute to the solution by donating cash and non-perishable food items to www.FoodbanksCanada.ca and http://www.feedingamerica.org/ on a regular basis.

4. We are healthy.

We live in a country with what it perceives to be the highest standard of health care in the world. However, the Commonwealth Fund recently released a comparative scorecard of 11 health-care systems in advanced industrial economies. The United States ranked 11th. Canada ranked 10th, its worst standing in the comparison since it began in 2004.

There are people in our neighbourhoods that need assistance in the healthcare system. It could be as simple as driving someone to the doctor or ensuring that someone is registered with the universal healthcare system. You may be surprised how inaccessible healthcare is in North America.

5. We are lucky.

You probably have heard the expression “luck is what you make it.” Is there a correlation between a positive attitude and good fortune? Check out Angelina Jolie’s directorial debut: Unbroken based on the book by Laura Hillenbrand. Its hardcover format spent an unbelievable 180 weeks on the New York Times bestseller list. (Only 3 books have held that position.) The story of Louis Zamperini’s perseverance and courage inspires.

From all of us, Happy Holidays and all the Best of the New Year and Beyond.

Pauline, Megan, Carol, Natasha, John, Karen, and Jayne

www.RevTurbo.com and www.BestPeopleWin.com

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