Giving away your knowledge, best practices and secrets may seem counter intuitive. In fact, doing so can be a boon to business. One entrepreneur shares his experience.
Whether you’re just starting out in the business world or a new venture brings you back to square one, profits often feel a million miles away. So, for those intrepid entrepreneurs with virtually zero dollars allocated towards a marketing strategy, how can a company best promote their business and attract customers?
The answer became clear to me after a number of failed experiments: Give some of your secrets away for free. Odds are, if you’re starting a company, it’s because you’re great at a particular thing. It doesn’t matter what that thing is. The point is that you have a product or a service or a talent that you intend to capitalize on. Now, whether or not you have competitors in the field, share some of those secrets and best practices. Don’t worry about others stealing your ideas or attempting to monetize on your process.
My partners and I found that creating an ultimate guide for our company’s process was a helpful map for us (it helped us replicate our successful model) and for our sales process. We decided that it worked so well, that we should create a version that we could publish and get some recognition for. We spent a lot of time and energy on it, but it ended up being totally worth it as that single guide is the largest driver of new business to our company. It established us as industry thought leaders simply by writing down and distributing freely everything we knew about one specific topic.
Regardless of your budget, you can do the same.
Figure out a way to clearly and explicitly communicate your tactics. By writing out exactly how you do what you do, others will take notice of just how meticulous and well thought-out you are. Transparency in the business world is exceedingly rare and yet, can boost a company’s image greatly. Compile your tricks of the trade and don’t be afraid to make them common knowledge.
Create a guide so that others can potentially copy your idea if they so desire. And here’s the secret. The majority of the time, those who are reading it don’t actually want to implement. You’re the implementer. You’re the thought leader. You’re the industry expert. The content of your article speaks for itself and establishes you as someone who knows what you’re talking about within a specific niche. These readers are given the opportunity to see your approach to business and often they become your greatest advocates and supporters.
Work on gaining visibility from there. Offer up this guide to the biggest relevant blog for the content – shoot for the stars. If they don’t accept it, fine, move on to the next biggest blog. The great part about this is that, if it is useful and well written, those big blogs WILL WANT to publish it.
Follow this up by writing good quality pieces that your colleagues can learn from. Go beyond the typical 300-word blog post and write an 1800 word, articulate article offering a clear overview of your approach. Creating good content doesn’t cost you any money – just time. Though time may feel precious, when you’re marketing on a shoestring budget, you have more time to spare than dollars.
I know this technique may sound outlandish, and you’re thinking that you’d never give away your precious little secrets. And, that is totally fine, we haven’t given away everything. But, we have given away a lot of what we do, and its brought back more business than we could have ever imagined.
About the Author: Brian Patterson works with Online Trading Academy, the world’s most trusted name in professional trader education. If you want to learn to stock trading, be sure to checkout their website.
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