Book Excerpt: How you define your business creates blind spots that hide revenue
Every company, including ours, operates with blinders on. For some companies, the blinders are wide; for others, they are narrow. Either way, all you can see is what’s inside the blinders.
When you apply the blinder metaphor to a company’s sales process, you can really see the value of your Core Proposition in identifying opportunities for business you never imagined.
How you define yourself as a company affects how you view the market- place for sales opportunities. To go to an extreme to make a point, if you sell turbines for GE, you aren’t likely to view somebody standing on the sidewalk waving for a taxi as a business opportunity. For the turbine salesperson, somebody waiting for a taxi exists outside their field of vision, while an airplane manufacturer sits squarely within it.
What this means for every company is that there are opportunities for business that are sitting outside of their line of sight. They may have been sitting there for years, or even decades, but because of the way you define your company, you don’t see them. Shift the definition of the company—in other words, remove the blinders—and all of a sudden opportunities come into view that you’d never have noticed before.
Paradoxically, providing your company with greater focus through your Core Proposition widens your sales team’s field of vision. Eckler, the actuarial firm whose Core Proposition is “A greater degree of certainty,” is one of the best examples of a company that discovered new revenue streams this way. When you define yourself as an actuary or as a specialist in defined-benefit pensions, your world is small and getting smaller by the day. But when you define yourself as offering “A greater degree of certainty,” all you have to do to generate sales is find companies dealing with uncertainty and contact their CEOs.
Let’s start with Baycrest, and its ambitious expansion plans, as our first example of an organization that discovered new revenue streams.
Click here for more information on our book “Why Should I Choose You?” (answering the single most important question in business in 7 words or less).