July 31, 2007

From Homeless... To Successful Entrepreneur

In This Issue:

Audio Interview: "From Homeless... To Successful Entrepreneur"

Food For Thought: "The Death Of The USP... Long Live The CVP!"

Fast Facts: "The Most Grueling Race In The World?"

* AUDIO INTERVIEW *

“From Homeless... To Successful Entrepreneur”

Ready to be inspired?

Then I encourage you to listen to this audio interview with Maurice Evans.

Maurice is a successful entrepreneur with business interests as diverse as promoting concerts to business coaching.

But it wasn't always that way.

In fact, at one stage Maurice LOST EVERYTHING - not just his home, but the means by which he earned income.

So how does someone go from having nothing... to having more than most - in terms of money, achievement, relationships, etc?

Listen to this interview with Maurice and discover:

• How Maurice went from being literally homeless - sleeping in his car and on the floor of a warehouse - to building a business employing ten people within ONE YEAR.

• How faith and persistence allowed Maurice to get through his darkest moments... and continues to motivate Maurice today.

• How Maurice knows the difference between being "persistent" and banging his head against a brick wall". (Knowing the difference is crucial to whether you get results... or give up.)

• Why Maurice considers planning and systems to be KEY to business success - whether it's his business, his clients' businesses, or the businesses of any major corporation today.

• How Maurice balances a number of different businesses - from promoting concerts to business coaching. (Hint: he's a big believer in working "on" the business, not "in" the business).

• And much more!

Click this link to play and/or save to your computer:

==> Interview with Maurice Evans

To learn more about Maurice's business visit http://www.abusinesscoach.com

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* HIGHLY RECOMMENDED *

“How an Ordinary Manager Transformed a Struggling Business On The Verge Of Collapse Into a $40 Million Company”

Here's a shocking, yet true, story...

At the start of last year, a good friend of mine took the job of Chief Technology Officer (CTO) at a small technology company.

The company was five years old, but hopelessly unprofitable.

It's backers – a venture capital company – were growing impatient with the company's abysmal performance and ordered the Chief Executive Officer (CEO) to appoint someone who could commercialize the company's technology – so they would finally have a product to sell.

Otherwise, the venture capital company would no longer fund the business.

My friend was excited about the job. He was a bit of a risk taker, and despite the pressure, looked forward to helping the company bring its product to market and build it into a profitable business.

But there was one problem.

A big problem.

The staff, the CEO warned him, were "incompetent and lazy."

In fact, one of the reasons the CTO was being hired was to get rid of the "dead wood."

"Frankly," the CEO told my friend, "you'll probably have to fire the lot of them."

==> Read on...

* FOOD FOR THOUGHT *

“The Death Of The USP... Long Live The CVP!”

For years marketers have espoused the wonders of the "USP" - the "unique selling proposition".

They've urged companies to ensure that their businesses, products and services all have a USP.

After all, the USP emphasizes the major point of difference between that business, product or service and all its competitors.

The USP is supposed to underpin the entire tone and nature of the company's marketing and, in a clear and direct way, address the most important product or service "want" among potential customers.

But does it?

In fact, many companies have discovered TWO MAJOR FLAWS with the USP that have undermined its utility as a powerful marketing driver. These are:

1. What was unique... is no longer

Company A may claim that its soap powder has unique, stain- destroying ingredients... but so does Company B.

Law Firm A may claim that it offers superior legal advice and attentive service... but so does Law Firm B.

Pizza Shop A may claim to deliver piping hot pizza to your door in 20 minutes or its free... but so does Pizza Shop B.

In highly competitive markets, companies have found it particularly difficult to uncover and highlight benefits and features that really are unique AND meaningful to the customer.

After all, what can you say about a product like Coca-Cola that can't also be said by Pepsi?

That it's cola? That it's fizzy? That it tastes great? That it's refreshing?

Consequently, companies have either abandoned the idea of the USP or have stopped basing it on unique features or benefits... and have instead based it on brand imagery and advertising.

Which is far from its original purpose or power...

2. The USP is all about the product or service, not the customer

The second major problem with the USP is that it clearly derives from the company's point of view.

After all, the word "selling" squarely places the USP in the context of what the company is doing (or hoping to do) rather than what the customer is looking for (a solution to their problem).

Consequently, what is "unique" tends to be what the company regards as unique - a product (or service) feature or benefit - rather than what the customer wants or needs.

So... is there an alternative?

There is!

Enter the CVP - the "Customer Value Proposition".

Like the USP, the CVP can be distilled into a relatively short statement, e.g. a slogan, and should underpin the marketing for a given product or service.

But more than the USP, the CVP has company-wide implications - rather than being just a "selling" or even marketing tool, the CVP should govern every aspect of the development, marketing and delivery of a product or service. Of the entire business in fact.

And it doesn't just highlight a unique feature or benefit of a product or service. The CVP underlies the very purpose of that product or service... FROM THE CUSTOMER'S POINT OF VIEW.

So while the USP is about finding that unique point of difference offered by your product or service... the CVP is about understanding what fundamental VALUE you deliver to your customers.

Theoretically, this should, by definition, be "unique" - the VALUE you offer MUST be different for your product or service to be distinguishable from everything else.

However, the power of the CVP is that it recognizes that customers are *more* concerned about what's in it for them rather than how "unique" your product or service is.

What's more, the roots of the CVP go much deeper and have much more solid foundations.

Digging it out is an exercise in understanding "why are we in business?" "how are we improving the lives of our customers?" and "what do they really want from us?" and so on.

That exercise alone is likely to produce a CVP - which can then be distilled into a "elevator pitch" or "slogan".

Could the result be the same? Could a CVP be the same as a USP?

Possibly. In fact, you could have both a CVP and a USP. The CVP could underlie your business or brand... and the USP could attach to a specific product or, indeed, individual advertisement.

The main thing is that your CVP - not a USP - still underlies your business and marketing overall.

Because it's the CVP that addresses what CUSTOMERS want... and customers are why you're in business.

Now, the CVP is still limited in the sense that it seeks to give a single definition of "value"... even though this is likely to be different for different customers.

Nevertheless, it's definitely a step forward in helping companies become more customer-centric, rather than remain product (or service) centric.

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* HIGHLY RECOMMENDED *

“How To Determine Your Wealth and Investment Goals”

Use the Investment Goal Calculator!

The Investment Goal Calculator is FREE with the July issue of Investment Success Formula, which is available for you to download right now:

==> Investment Success Formula

You'll also discover:

• How to define your overall income and wealth goals

• What it really takes - financially - to achieve those goals

• How to determine your investment objectives from your income and wealth goals

• Bonus "Investment Goal Calculator" spreadsheet: How to calculate your investment goals

• How to work out the ideal investment... and investment portfolio

• Bonus Asset and Portfolio Comparison spreadsheet: How to compare investments and investment portfolios

Click here to get your copy:

==> Investment Success Formula

* FAST FACTS *

“The Most Grueling Race In The World?”

A friend of mine just finished the Tour de France.

He wasn't even a competitor - he was one of those masochists who rode much of the same distance for "fun" (i.e. as part of a holiday package)!

As perhaps the most grueling, and certainly the best-known, cycling race in the world, the Tour de France is conducted throughout France, and sometimes neighboring countries, for a period of three weeks.

It comprises a number of individual races or "stages" between towns, and the total time taken by cyclists to complete each stage is added up to determine the overall winner.

One of the most famous winners is Lance Armstrong, who recovered from cancer to end up winning the Tour SEVEN times.

If you want some motivation I thoroughly recommend you pick up one - or both - of Lance's autobiographies: It's Not About The Bike and Every Second Counts.

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