Create Multiple Routes to Market
There are two kinds of business model: The diving board theory of business and the parthenon theory of business. Almost every business..... operate(s) using the diving board model. It has one primary method which is generating 90 or 100% of the revenue. The parthenon method, on the other hand, has different pillars each of which is a revenue generating activity. If you can move your business from the diving board model to the parthenon model, you will no longer be dependent on that one primary activity. Ironically, that one activity will actually improve as all the other activities will reach out and impact that activity. If each pillar adds a mere 10% to your business, the overall effect will be geometric.
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Jay Abraham
When I heard about the parthenon method I began to wonder how to create multiple pillars or multiple routes to market. Here is the process that I created:
Step 1: Brainstorm Ideas
A good starting point is to aim for half of your routes to market to be online and half to be offline. Begin by simply brainstorming possibilities. You may end up with a list that looks something like this:
Online routes to market
social networking site web site micro blogging site email online networking site blog
You may begin to find out which social media is used by people in the market you are aiming for and do some additional research to identify your market precisely. A good idea is to use a keyword research tool on the internet which will tell you what search terms potential buyers are keying into Google. One of your routes to market may be a web site that contains the key word that you are aiming for.
Offline routes to market
magazine advertisements radio networking shop joint venture direct mail
Step 2: Research which Route to develop first
Consider: Where do people in your market get their information at present? Do they read particular magazines, go to specific web sites, read particular forums or blogs, do they go to exhibitions, is there an exhibition for your stuff, do they go networking, do they watch particular tv programmes, how old are they, where do they live, what clubs do they belong to? Then choose two or three routes to market to start with and...
Step 3: Develop your message
Put yourself into the position of your client or potential client and see the world through their eyes. What do they identify with? What is their worldview? How can you associate with their experience, beliefs and values? You may need to vary your message for each medium.
Step 4: Take one route at a time
Get each route to market working before you move on to the next one. How will you know that a route to market is working? Well you may create criteria for each route to market so that you will know when it is working and track where your business is coming from.
Step 5: Keep on going until you have 10 routes to market
You may find that you need to chop some and add others as one thing that used to work stops working or does not yield the results that you anticipated. Keep on going until you are getting the response that you want. Enjoy.
How to Create Multiple Routes to Market For Your Training, Coaching, & Consulting Enterprise
Graham Constantine from Whole Being is an NLP Trainer and with his partner Claire Towers he specialises in helping Graduates who are unemployed to make the transition from education into employment or setting up their own business or volunteering or work placement or further education. Go to http://www.nlpbusinesspractitioner.biz to get more information on how to transform your business.
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