#1 Erik, I wanted to have you come on the show today to help our listeners become more resilient by improving their efforts to develop new sales funnels and improve their business development strategies. If we can help crafty business owners become more efficient in finding new retailers for example, or help makers find new customers, that will make them stronger businesses in the long run, agreed? (2:00)
#2 Let’s start with just some general concepts about business development. I think in our fiber and fabric industry there is a long-standing perception that “if you build it they will come” and putting time and energy into a strategy to bring in customers isn’t really necessary. Why is that faulty thinking? (3:05)
#3 I guess I have a selfish reason in asking that question because I know for my own agency, and for many entrepreneurs, biz dev is the last thing on the to-do list for the day. You would argue that it really should be a higher priority. Is that right? (5:40)
#4 Is there value in being able to turn your biz dev tap on or off as needed or do you advocate it should just be an ongoing effort all the time? (9:10)
#5 Besides not having one, what do you think are the most common mistakes business owners make when it comes to creating a biz dev strategy? (14:25)
#6 One important concept in the realm of biz dev is what’s referred to as a value ladder. What is that and can you give us an example in the crafting world? What would that look like for a yarn company for example? (18:02)
#7 We talk a lot about a customer avatar and really understanding who it is that you are marketing your product to. We say if you’re selling to everyone, you’re selling to no one. Why is it so critical to understand your customer first before designing your biz dev strategy? (21:20)
#8 On that note, we also advocate for niching your business. That’s not always clear how to do that when you’re a fabric distributor or a yarn retailer for example and you feel like you’re just another fish in the sea. How do you consult clients to find their niche within a crowded industry? (24:30)
#9 In the book you contributed to, Sell with Authority, you explore this concept in depth. One of the things you expand upon is how business owners can be honing and sharing your expertise through speaking, writing, and having a point of view. If you’re a Bernina (sewing machine) dealer, for example, you really have an advantage when you can be the one and only shop in your state that has all the machines, offers tons of classes, repairs machines etc. What are some other ways to build your “domain authority” to gain more customers? (30:40)
#10 What advice do you have for the makers listening who are struggling to differentiate themselves in the way we are discussing? (37:30)
#11 So, at the top of the show, I mentioned you used to be a professional juggler. Juggling all the things seems to be one of the biggest challenges for crafty biz owners trying to do it themselves– wearing all the hats. What’s your best advice for juggling success? (43:50)
