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25 Ways to Jumpstart Your Business

Lesson 9 of 23

The Value of Your Business

Barry Moltz

25 Ways to Jumpstart Your Business

Barry Moltz

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Lesson Info

9. The Value of Your Business

Lesson Info

The Value of Your Business

think about what's unique about me in the service that I can provide to you. Okay, so think about it differently. But it's got to be about the me. I mean, Barry, I think that that's what a lot of people miss in social media is that it is all about the personal people are seeking to engage with an individual. I'm sure Barry has said to you people buy from those they know, like and trust. Well, this is that no part of the story, How do I get to know you? And what is it that you want to convey to me as a potential consumer that is unique about the relationship on building with you? Yes. I can look through all of the wonderful things that you're gonna promise me, and everybody's gonna promise me the moon and the sun and the stars in the sky. But really, all I am looking for is a solid relationship with someone I can identify in some way, shape or form, and identify that you can meet my needs because of your experience in some way shape or for, and that's where again. The Social Media missi...

on statement becomes so valuable, Barry. I'm looking at the clock, and I see that I'm out of time, so I know we're going good. So I want to complete this segment because all of you out there that are listening at home or in your office, you can actually answer these three questions, and I'm gonna give you Ah, you are l Where you can get in touch with Dafna if you want her to help you with your social media mission statement. So let's just do last the last one here. So I think the magic Oh, yeah. Just after the last question every now, how would you answer this question? What is it? What is what's in it for me to do business with you? I will help you find the same solutions that I'm also seeking for my own life. Okay. Excellent. Excellent. Excellent. Excellent. That is 100% on target. Okay, So do I have a minute to do my magic? Of course. Okay. You gotta show me the booth. I need to see the white board. Thank you. Okay. Um, Barry, I'm gonna need you be my scribe to want to read it to No, no, no, no describe. Okay, on, um I go be on storytelling, right, dude? Pointing at you Okay. Beyond journalism and provide messaging Messan messaging that meets a core purpose. My life was changed as a child visiting a garbage dump. Stick with me to do the simple act of recycling. My passion was ignited. I'm running a space or whatever. I'm you know, I'm wrapping up. Here we go. My passion was ignited. Duffin was just waiting for me in this class that get down on my knees for that man to get on his knees for you. No way. My passion was ignited to share stories so that others could learn and take action. Let me help you share your power and purpose. Or that is my life's missing. Let me ask. Gonna work with Rina that way. Don't want you know that. Don't you read that and see if it fits for you. Sure. So I go beyond storytelling beyond journalism and messaging that meets a beyond journalism and messaging that meets a core purpose. My life has changed as a child visiting a garbage dump to do the simple act of recycling. My passion was ignited to share a story so others could learn and take action to help me and take action. Let me help you share your power and purpose, for that was my life's mission. Does it feel that's awesome if you have one more minute so I can wrap this up for you when you look at that board, can you swivel me back to the board again? Sorry not to see it, Barry. I need you to circle the following words. Different color, please. Storytelling journalism. It's and that should say to messaging, not and messaging. Can you just fix that? Of course. And circle messaging circle Purpose Core Purpose Circle Life was changed. Circle garbage dump, recycling, passion. Um, share stories. Learn and take action together. Power and purpose. So arena. All of those words are the basis for the content that you can share on any platform. You can write about storytelling. You can write about journalism. You could share about messaging. You could share about meeting core purposes. You can share stories about people whose lives were changed. You can talk about your garbage dump experience, but you can also talk about anywhere else. You have a garbage dump experience and you're working your life in your day to day in your interactions and people you met on the airplane, you can talk about things like recycling, right. That is one of the passion areas for you. So what are the others? You could share other people's passions. You could talk about other people who share stories and how storytelling and sharing stories is so powerful and the mechanisms for which people share stories. You could also do it whole education. Siris on how to learn and then take action and at the base of it all, is giving people access to channel and share their power and purpose. This forms the basis of your content strategy, and that's great cause that really tells you how to interact with social media. So, Doctor, this is wonderful. You really do your magic. You know, that's what you call it. Magic, this magic. Where can people, if the folks out there who have been listening they've answered thes various questions? How can they engage with you for your help in your social media mission statement their social media mission statement? Yep, you can find me at the website Ernie institute dot org's J o u r and d Y I n S t I t u t dot or GTA. And there's a contact page with all of my contact information. We are completely revamping the site, um, and revamping a little bit of our work mission as well. So if you're interested, please check it out, and we'd be happy to share with you. All right. Chat room. So a lot of deafness details are in the chat room. Check the chat room. We have all the links in there to click away. All right, Doctor, Thank you so much. It's such a joy to have you. We like to go. We like to go through that because many people are confused with really how they really connect with their audience. And as they often showed you here, you really have to do it from an authentic place and then figure out what are the key words that I'm really going to search for in social media. So now we're going to take out a workbook. Yeah. So we're gonna go toe part three now in the workbook. All right? And we're gonna talk about letting go of customers because that's really what prevents us from jump starting our business? Because a lot of our customers, we've got some bad fuel, right? And those air bad customers or bad hopes or bad prospects, Right? So, look, let's look at number two, right? I want you to write down all of you can write down out their list out the five top prospects that you have. They could be their names of customers or opportunities or partnerships or things that you're really looking forward to that could really turn around your business. So, um, Yoko's case, it could be Wow, Here is a very wealthy family. I wish I could do business them or in Karen's thing as well. If I could only get this relationship going with this distribution network than Yogi Stream TV really would would be great. I arena would be if I could get business with this one client who really has a great brand name, even though I know you'd rather do business with me, right? And then it would really go. Or if I could really get slash toe by from my store, that would be great. So but but don't name those name named 3 to 5 big realistic opportunities that you're working on. Take a minute to do that and also you out there if you would do that, because we're going to see how effective these really are, where these people really are. Because you guys have had Kristen cell. You've had some folks that you want to do business with, and you keep hoping and hoping and hoping they're gonna call you back. And it's hard to let go of those big dreams, huh? And by the way, haven't let go. I don't think you should like or the dream, but I think you should let go of the dream sometimes a business person doing that business for you right now, because you can hope all you want. But sometimes they're not ready or they don't have the pain or they have the money to solve that pain. So you actually holding yourself up by hoping they're gonna do business with you? Right? So I think it's really important. All right, So who has some Some people? Um, I guess what I want to ask is, who's got someone listed or something listed it now that they look at it, It's really not as a great opportunity as they thought it was or that person has not called me back or they're not communicating with me anymore. So I'm really kidding myself that I'm really going to do business with them because this is all about stopping kidding ourselves and really bringing whatever you have the fantastic service or product you have for the people that really want it. As John Jan said, that had the need for your product or service. So he's got one that they're willing to give up right here on national television. All right, Shana, I don't have to say the actual No, just didn't know, of course, that there's a level coffeehouse that does, um, do an open mic once a week. And so they had the owner had come to me or once when I had gone there to get some coffee, had said, Oh, really interested, really need a sound system? Really? Would like to have you come and give me a quote and did all of that stuff and sent it to him and followed up once followed up again, sent an email that you sent the letter yet, but not the official letter. No male, but yes, but still no, No response. So? So you probably have to give up hoping that they're actually going to purchase this thing from you. It's been so long, it doesn't mean and is a very important point, just like Sally was saying, We don't give up on them ever being a customer, but they're just not a priority now because most of us can Onley keep the biggest opportunities. We have, like three or five them in our head at one time, and this is not one of them. I think that's a great example. So you can still go over and buy coffee and asking about a sound system. But you have to put enough to be emotionally connected with that. Yeah, it's an excellent example. So does any bills have an example? They like to talk about a little young still, because we're just starting to go out and approach people. And so I don't have anybody to let go of yet because, well, let me ask you questions. Is there one that is really big that you think could be really great? But if you're really honest about it, there's no way that they'd ever approach you at this point Where Yogi Stream that TV is you can think through that. Okay. And five seconds of dead air time is probably a very short attention spans way. Next thing, if you can't say one or make one up, we just gotta move on the o reading. What about you give someone that you say? Well, if I'm really realistic about this, they're not gonna do business Lee right now, but perhaps in the future, perhaps in the future. But I'm not gonna focus on them right now. Cash flow Tesla. Okay. And so tell us the Tesla story as faras Well, what they're up to right now, as far as opening up their their platform and their their patents so that they can create more competition for them. So in the marketplace, so that more people can Can you have access to electrical cars or the development of electrical cars and those battery systems and all that? Um, that's a That's a future endeavor for me is to, you know, to pursue them as, ah as a client, but potential sponsor or advertiser or any and all of the above. We just don't know, But just not at the moment, Because yeah, just because of where I got in my business, as you know, Like Karen said, as as a fledgling, you know, we're all pledging somewhere along like milk. Oh, and again, I know what you made Your first name Is there someone that you're really hoping and dreaming you're gonna do business with. And realistically, if you look at it, they keep stringing you along and it's not gonna happen. Um, I think I just need to send the letter. I really like that. Right? So you showed. I don't like to bother people. I So I think that excellent way. Yeah, and normal times. The situation that I'm thinking office is a couple. And it's a disagreement between two. So that's why that it's not going forward, right? So I just need to have them think about it very clear about this because Sally mentioned it that this is not giving up your hopes and dreams. It's being realistic. Where's the business gonna come from today? Tomorrow? Next month. It doesn't mean that it couldn't come a year from now. It's great to be patients. Great. Keep marking them But we have to know. The problem that we face is that we hold on to something bigger opportunities and we don't seek other opportunities because you think these are gonna come through. And that's important part our Let's shift gears. Who's got a customer? That they've just got to fire? Who's got someone? Miyoko, you're going? Yeah, that's me. What do you got? Somebody's got a fire. You gotta fire. We just have Ah, minimum account size that went up. We want to keep our, um, the letter the Reese small so that we can provide in excellent customer service. I'm so for those. A very below. We had a lot of conversation, but are there any customers that really don't fit to whatever your investment strategy is or how you do business? So the give one that I'm talking about? It was the expectation. Kept changing. The investment objective kept changing when stock market was selling off. They didn't want to be in need anywhere near the stock market. But when I was up in off days And why anti and e you know, impossible, Teoh It's for business risk management. Point of view. He wasn't good crying so someone who's objectives of what the goal is really changing. That's a very difficult customer to be able to solidify. Does anybody have anybody else? Anybody else? Well, if we're looking at me because of the one customer he has not been back to, the storage is good. Just good, because if he did, I would very not nicely tell him he can take his business elsewhere and not come back. It's a hard thing to do. But I will tell you, if you're able to make that transition, you really can be like a weight off your shoulders. So let's switch gears. Now I'm gonna talk about value because you have to remember that most things that we sell really are commodity. So let's dig down and think about the value that we really have. And the one way to do that is to think about what do you really compete on to compete on price? You compete on place. What do you compete on? Everything. Well, what do you think you compete on in your particular store? You have a retail store? Yes. So what do you compete on? Um, price is always a factor because we do get the people who come in and and shop us. They come in and want to try it out. But then they'll go and buy it online or go to the major right? Exactly, Um, placement is important. We are the only music store in our area. That's you know the next nearest one is about 15 miles away. Eso, that's a good thing. That's that's a positive for us. But I think the biggest thing that we sell ourselves on a sincerity and service, so being sincere salesmanship, it's not just yeah, here's the thing and it's cheap and you like and you can buy it. But let me explain to you how this works. Let me take it out and tune it for you. Let me show you how to make your first chord on the guitar or let me show you, introduce you to a teacher who can actually teach you how to use this instrument instead of you watching it on YouTube and have some interaction and really inspire you to play. And that's really what you compete on is really the value that you bring and remember. People will pay anything if they get value. People always say they buy based on price, but people really buy based on value. They don't bear price. As I said before small business owners, we can't compete based on price. We only can compete based on value. So your new Yogi Streams knew. What are you gonna compete based on? I think we'll compete based on providing authenticity and reality as far as what I alluded to earlier, more realistic yoga instead of a DVD that has the perfect person doing the perfect pose. Every single time they're watching real people in a studio doing yoga, even the instructor falls out of a pose. Those kinds of things. I think that type of authenticity is what will set us apart, the yoga by people that are human rights law just like us, right? Exactly right. Have you thought about what you compete upon? Arena? Well, I think there is a level of interaction that I provide that people in my industry don't like the you know, a lot of people seclude themselves and separate themselves out. They will engage in social media and engage with their audience that way. But I actually I'm like on the streets with people helping them, not just to get themselves out there, but also to, you know, stand side by side them, helping them to build their businesses and their their own campaigns for whatever it is that they want to provide them with. You know, an interactive experience just working with me personally, so it sounds like personal attention. Some you'll go in your area, you have a lot of competition. So if you think about what do you compete based upon? Um, Trust is the number one because there's so much mistrust toward Wall Street, and that's true built spending time listening to them, understanding that situation. And it's just little thoughtfulness of trying to make their lives easier. And also, I'm able to talk all aspect of their financial lives, not just investment, but because I'm c P. A. I can talk about taxes, how to minimize eso, um, kind of overall financial picture. And so, if you have to articulate is the big question for everyone, particularly the exact value that your product or service gives your customer take a minute and do that. What is the exact value that your your product or service actually gives to your customer. What do you promising and deliver? What are they gonna get for their money? What is the value? It's very important to articulate these kinds of things because we can't just say, Well, we get a musical instrument because if I wanted to just get a musical instrument, I can get that anywhere. If I just want to buy a bicycle, I could get that anywhere. But it's very different going into a local bicycle store where I say, You know, I got a problem with my bicycle. I need a tuned up where you could put air in it. I can't do that if I bought it online. So again, what is the exact value? Does your product or service deliver to your customer? You want to talk about that? Because they had a very crowded market and many of us for listening, working very crowded markets, right? A lot of people do exactly we do. What's the value that came very quickly to the top of my head and it was hope. Hope that's where. So explain that hope because there are people who think that because of knee injuries because of back injuries, neck injuries, chronic problems, health issues. They think for whatever reason, that they can't. And we can show them that even if you're in a wheelchair, you can do yoga. Even if you have injuries, you could do yoga. And for a lot of people, you look at all the research that exists just committing to practicing the yoga improved so many chronic problems that people have. So I really believe we give hope. I really like that because that is the first time you've mentioned that word when talking about your business. So I think we're really on to something. What's the value that you think that you'd live arena? Just people with a passion, sharing the stories of people who have passion. You'll be able to get their story out to someone who can recount it. And what about what about you? I just repeat what I said earlier. Just sincere service and like building that relationship. So it's not just your my customer. You buy for me, but you come in. I know your name. I know your kids names. I know what instruments they play. I know your son plays guitar right now, but he's sort of like in piano, and he might actually ask you to switch and try piano lessons instead. And you know, to keep away from the drums. Well, right now, I can't always. But but just knowing that it's like a relationship, it's not just a customer and a figure of a number how much I sold them last week. But hey, that they've been with us for six months and, hey, how's it going? And you did a great job with the recital and building relationships with the families. So it's a community of our business, not just Hey, we're going to consumer music. But, hey, I'm gonna go down and see Sheena because she's going to give me a great recommendation on what I'm looking for and know that she could trust, like she mirror what she said. Just trust what they say that that we're giving them the best deal and it's sincere. Remember what John was talking about we do business with? We know, like and trust right. We always don't do business with people that give us the lowest price over a longer period of time. If you can establish know like and trust with your customers and prospects, you will have them for a very long time.

Class Description

Running your own business can easily become a game of defense instead of offense. Learn how build a profitable business and guard against the tides that overwhelm small businesses in this training course for entrepreneurs.

Barry J. Moltz will teach you processes you can put in place to build and sustain a profitable small business. You’ll get hands-on, practical advice for solving the real problems business owners face every day. Barry will cover customer acquisition, vendor and employee management, and marketing strategies (that actually work). You’ll also learn the fundamentals of small business finance and how you can reduce costs and increase profits without compromising on quality.

If you are ready to grow a team that works, build a culture that lasts, and thrill your customers every day, this is the course for you.


Jay Rodriguez

Best business course out of the bunch. Highly recommended. I like how focused on the course material he was and how well he stayed on point without straying or rambling. He provides the needed to the point info that he has put together from other sources.


I love Barry's energy. He gave so much insights. This is also a great course for anyone starting the business also. I viewed the course a few times and implementing his ideas one at a time.


Great combination of ideas and wisdom, and delivered very well. I would definitely listen to more of his courses.