If you are planning to do big things with your small business, you might want to check out the video below. Mark J. Carter is a colleague and a friend of the blog, and the title of this interview with business coach Ed Middlebrooks, “How to Scale Your Business with a Market Dominating Position,” caught my attention.
Are you solely focused on making more revenue? Sure, adding revenue is important, but Carter and Middlebrooks walk you through other ways you can increase profitability, which is more important. Middlebrooks says, “Revenue feeds the ego, but profit feeds your family.”
They talk about analyzing your business and understanding who your ideal client is, and what your unique positioning is to serve your clients – what makes you different and better.
Yes, we talk about this a lot here on the blog, but spending your time and money targeting the right client will set you up for success. You will ensure that your marketing dollars and valuable time are spent on the right things.
The goal is to have your business be in a Market Dominating Position (MDP). From the video description:
Your MDP statement needs to be put into the marketplace. It promises to solve particular challenges for your particular client avatar(s). Once you do that, writing copy for your website is going to be easier, running your social media campaigns is going to be easier, and going to networking events and giving your elevator pitch is also going to be a whole lot more effective.
I don’t know about you, but I would like to experience all of that.
