The Number One Asset In Your Business You Don’t Know You Have

The Number One Asset In Your Business You Don’t Know You Have

As business owners and entrepreneurs we tend to have an obsession about ownership.

That’s natural because you own the business. You own the asset.

So it’s important.

But if you only ever think about ownership, you’re missing a huge opportunity that has the potential to be an even bigger asset than everything that makes up your business bottom line, combined.

It’s also incredibly valuable, as this asset stays with you.

Even if you lost everything, this asset would get you get back up, fast.

This Asset is ACCESS

What I’d like to really encourage you to do today, this week and even for the rest of your business life, is really think about the concept of access as an asset, and how to bolt it onto your marketing strategy somehow.

Because access itself is an asset.

Access is an asset that can be leveraged, multiplied and maximized in many different ways, without having the prerequisite cost and energy that ownership requires.

Think about access as a distribution channel. One that will help you expand your reach and grow revenue.

Every time you gain access to something you didn’t have before, you’re effectively creating a new distribution channel. That could be for your service directly, your message or your marketing.

A Simple Example Of How Access Can Be An Asset

The easiest form of access, and the simplest to set up is Partnerships.

You’re getting access to somebody else’s audience. To their list.

You don’t own the list, but you’re getting access to it, and them vice versa.

They could promote say, your content or online presentation, and you’ll get access to those eyeballs on that list. Then access into the mind share of those that see it, which gives them the opportunity to gain access to your solution, to their problems.

Also those people who raise their hand are now on your list. Which you can offer others you partner with access to (not selling it by the way, but providing value!), and start the whole cycle again.

So not only is access an asset for you, providing access to others is an asset for them. Which makes you very attractive.

What I’m doing here is trying to boil how you think about your marketing strategy for getting clients, down to this one concept of access.

Because I’m telling you access is an asset. And…

Access Is An Accelerant.

Access for you, to you partners audience and network, is an accelerant for your business.

It speeds up how you get in front of your ideal clients.

It cuts the time you need to spend building trust with prospects as your partners endorsement comes with that already implied, and built in.

Can you see when you get this, how you can attract clients to your business, and potentially earn revenue in a way that you’ve never had before?

The real benefit of this though is that your access isn’t just an asset and an accelerant for you, but also an asset and accelerant for others that you can help. Both for your partners, your clients, their clients, their friends, their families.

Once you increase your access, you can then use this to provide others access they didn’t have before. Which accelerates your reach and exposure to their network, and further increases your access. And so it goes on…

The network effect here is exponential, and offers huge benefits to everyone in it. Even if they’ll never realise they are.   

Stop Trying to Catch Fish With Your Bare Hands

What this concept does for you is help you transition from going after new clients like you’re trying to “catch fish with your bare hands”, to building your own private “fish farm”.

You see most people go after success as if they’re trying to catch fish with their bare hands.

They have to jump in the river whenever they need something and hope they can grab a fish as it swims past.

Consider this in contrast to having your own fish farm.

  • You turn up every day knowing there are fish.
  • They’re simple to catch as they’re contained.
  • Better still, the number of fish constantly grows in number as they spawn and breed.

Really that’s all just a metaphor for attracting opportunity and growth.

But if you understand and truly get this at a fundamental level. If you take it in and think about your marketing as it relates to prospecting, referrals, outreach, and all the relationships that you’re building in the process.

You have an ability to build your own “Fish Farm”

One that will attract and bring you more opportunity.

More connections and more introductions for the for the entire span of your business or entrepreneurial pursuits.

Now you can turbo charge this if you create something like a free, by invite only, private partner mastermind group.

Then once a month, you facilitate a group discussion or call with all the members that adds more value.

What you will find is that the people in this group will continue to introduce you to more people, and those people will to other people, and so on…

Every member will present opportunities for you and your “Fish Farm” to expand with only the minimum of tending to it.

Let Me Give You A Tactical Example

All you need as a bare minimum for your fish farm to become a serious revenue generator, and consistent source of new clients is…

12 core partner relationships.

Here’s why:

  • You have 12 core partner relationships.
  • Who are willing to promote you twice a year.
  • That means just two times a year, each partner promotes you to their list and audience.
  • That totals 24 promotions per year for your marketing calendar, to an audience that you know contains your ideal clients. (There’s all your access)
  • So that’s an average of one promotion every other week for your business.
  • And it doesn’t cost you a single penny of your marketing budget.
  • Nor does it consider the direct referrals that will be generated as a by product.

Let Me Ask You A Question…

What would your business look like right now, if you had 12 core referral relationships sending you warm, endorsed potential clients your way once every two weeks?

That’s what your fish farm can grow into.

Of course, not every single referral partnership is going to work. Let’s think of it in the 80/20 rule. Meaning only 20% of partners are probably gonna rise to the top.

One thing that you can do is take them through a marketing cycle to test them out. (and they you).

  • They share some content, you share theirs.
  • From there you can gauge if they’re good to work, if they’re reliable.
  • Then you can try a direct promotion for each other.

There doesn’t have to be any financial incentive as you’re both helping each other out. But if you both agree, you can give them a really good healthy referral fee for any client sent to you, and vice versa.

Putting This Into Practice – Finding Partners

Let’s say you decide to use this strategy for the next 12 months, but were worried by how much time it will take?

No worries, you can go slowly.  

  • Break the year down into 4 parts, of 3 months.
  • During each part you’ll define, identify and connect with 75 ideal, potential referral partners.
  • Assuming the 80/20 rule, you’ll get 15 to agree.
  • That’s you reaching out to 25 people a month.
  • Or 6 people a week.
  • Or just 1-2 people per day.
  • Repeat this 4 times per year, you’ll have 60 partners in your Partnership Mastermind
  • Again, assuming the 80/20 rule, when you repeat this over a year, you’ll find your core 12.

And by the way, even those that aren’t one of your “core 12” will continue to add value by introducing others and being one of your other group members “core 12”.

All of which continues to increase your own standing in everyone’s eyes for facilitating the group.

Of course, you can do this much faster if you wish…

When You Have This It Will Solve So Many Of Your Problems.

  • Your “no leads” problems.
  • Your “I don’t know where to get business from” problems.
  • Your “I can’t figure out all this marketing stuff” problems.

Gone!

Because every other week, you’re going to have somebody promoting, endorsing and referring you.

Will it work exactly like this?

Probably not, as different partners will only be able to promote based on their own schedule and commitments.  

But as a concept, as a framework, 12 partners promoting you just two times a year is 24 times. So that’s on average twice a month, or once every two weeks.

This is just one example of what a fish farm approach can do.

You can treat partners like a one time thing, and go back to fishing with your bare hands if you want.

It’ll probably work and you’ll catch some fish. You’ll get some leads. You’ll get some sales. But you won’t have a farm.

You’ll have to go out again, jump in the river and start again every time with your bare hands.

I think one of the ways the farm becomes successful is when you focus on relationships you care about.

The Real Value Of This

The one thing I really want to highlight here is this whole concept all comes down to this to this…

The truth is, once you’ve spent time focusing on and building just a couple of relationships you care about, you’ll never have to cold outreach again.

Because if you do right by these people you can say..

“Hey, is there anyone you know that you think would also benefit from and contribute value to this group?”

After which they can introduce you to one or two people who are going to be just like them and because they vouch for you, there’s almost zero resistance.

And that’s when you become your own centre of influence.

There’s a way to turbo-charge this even further and systemise the entire process, and at the same time make it easier for partners to share you with their audience.

See how by watching my…

“Less Selling. More Clients” Masterclass

I share the roadmap to systemising and scaling your firm that will increase your influence, consistently get you in front of ideal prospects, automatically follow up with your leads, while growing your network and pipeline so you add 4 to 12 of the right clients each month. All without spending a penny on advertising or adding more hours to your week! Click here to register.

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Adam King
 

Adam King is Captain of Think Like a Fish, host of The Client Catching Podcast. Today, Adam’s passion is helping service businesses, Advisors & Experts to build their own “Client Catching Ecosystem” that removes you from up to 90% of your marketing and sales process, instantly boosts your authority, while at the same time increases the quality of leads, appointments and clients that you attract and catch… All without spending a penny on advertising or adding more hours to your week!

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