It’s probably no secret, but many business owners go it alone. Running your business is not about doing what you love, your skill, your product, or the service you provide. You got to know about marketing, sales, finance, managing teams.
Today’s guest is our business coach and friend Greg Betty. Greg realised the importance of having sound business knowledge back in 2010 as Resort Manager Daydream Island Resort and Spa where he is responsible for more than 260 staff.
Since then, Greg founded Growth Potential Australia, a Business Education and Coaching firm that’s helped deliver $150K average increase in net profit and 6X Average revenue increase for their clients. Growth Potential is founded on the belief that there needs to be more affordable and effective assistance for business.
Why is it necessary to have professional help in running small business?
The main reason is seeing the forest for the trees. Most people get caught up in what is the most interesting project at a particular time. Rather than working on probably what is the most important. If we can be that second set of eyes, that outside voice, getting people to refocus with a weekly or fortnightly on what’s important, then things start to accelerate. It’s as simple as that.
What needs to change with the way businesses market themselves?
The disruption of the last eight to 12 weeks has been interesting. One of the key things people need to change with their marketing is doing a quick whip through their marketing plans. Decide whether the target markets that they were targeting prior to the disruption are still valid. Now for some businesses, that’s a YES, absolutely.
Businesses, especially small businesses, that have been dependent on one or two particular marketing activities, chances are they may have to explore some other marketing activities. If you primarily find your leads through face to face networking, you can’t do that anymore. You have to find another way to generate leads. Public workshops are again, not applicable anymore. So it’s a good opportunity for people to explore and test and measure different marketing channels that they probably haven’t opened up before.
Just to quickly show a little cameo where Greg appeared, watch the video.
Why is humanising in this new world now even more important?
It’s about trust. Ultimately, seeing faces is about trust. If you can lay eyes on and you know, and the first sort of 5 to 10 seconds, make all sorts of inferences as to whether you can trust this person or not. It’s just far easier done through a video. There’s a lot of different ways businesses can engage. Whether that’s just sending a short video as an email rather than sending a written text to avoid any misconstrued message you’re trying to put in an email. Whether it’s just trying to connect with a wider audience now and people buy from people they know and trust. The easiest way is to go through is to see someone’s face through a video.
What marketing advice do you have during this pandemic?
It is changing the way people perceive doing business through video. People are now getting used to communicating through a video channel and are forced to do so. It’s going to be very interesting to see in the coming couple of years the importance and how many people are going to be using video.
It wouldn’t surprise me at all if video becomes an integral part of not just marketing and sales, but jumping to your marketing point. The initial reaction when looking at the marketing is, oh my god, what I’m doing at the moment isn’t working. I need to pivot. It seems to pivot is a cliche out there. Expecting hustle will do something completely different. The reality is based on how long you think this disruption will be, pivoting into something that maybe is not your skillset. Though pivoting can be a good thing, I think it’s always done with caution. It is because chances are what you do and what you’ve been doing for a number of years, is good, if not great, and just prepping to be good and great at that again in a few months and getting back into doing what you do best, is probably a good strategy at most.
Don’t go all-in on it, test and measure. What’s your thoughts on that?
Couldn’t agree more. Sometimes the reason marketing is or isn’t working in a business has got nothing to do with the target market. It’s always with the fact that not enough marketing activity is happening. They’ll do a mail at once, and it doesn’t quite work and give it away. They’ll go to a couple of networking events and say on networking doesn’t work. I think it’s usually a volume question.
But when you’re looking at niches, then it’s not that you have to find one particular niche and stick with that. It can be that you find a number of different niches. So you still can cover quite a broad range of the market. The message that you use for that particular target market is specific to get the attention of that target market. Then the message over here for a completely different target market might be completely different. It is good if you can get as specific as possible. But be wary of you don’t just have to be in one niche.
There is a growing trend of ‘Video Marketing’ but where start? Shoot, produce, campaign strategy and what about implementation? The learning gap is vast and most people obsess over ‘how’ they should be producing video content instead of ‘why’ they should be producing videos. ‘Video Legend’ explores the emotional connection of video that ultimately leads to positive outcomes for small to medium-sized businesses. Outcomes that result in their audience thinking differently about their brand, product or service, and actual connecting and taking action. This podcast aims to explore the life of content after video production and what it has done for growing businesses.
Hosted by Chris Schwager and Brendan Southall from Ridge Films.