Systems for Growth: Why Building Bridges Is Better Than Building Islands
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Why Bridges Are Better Than Islands Presented by Matthew Russo | Owner, SystemsForGrowth.com
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In my presentation at the 2014 Ohio Growth Summit (http://ohiogrowthsummit.com), I walk small business owners through my systematic approach to building and connecting the four pillars of successful businesses: distribution, delivery, experience and retention. Millions of small business have great products or services. Yet only a few thrive and become leaders in their space or community. What is that extra “something,” that leverage point that allows certain businesses to grow while others struggle to expand – or even make ends meet? Systems. The days of “build a great product and the customers will come” are long gone. There is more competition than ever before. There are also an infinite number of places small business owners could spend their time, money, and energy. So which have the biggest impact? Which are right for your business?
Transcript of Systems for Growth: Why Building Bridges Is Better Than Building Islands
Why Bridges Are Better Than Islands
Presented by Matthew Russo | Owner, SystemsForGrowth.com
This is you
Field of Dreams (1989)Copyright, Universal Pictures
Your jobas an entreprenuer
is to connect the dots so that your product / service is accessible to as many people who want, need, and are willing to pay for it...
AND refine their experience to the point they can't live without it.
In other words...
Don't just architect the island.Build the bridges, too.
Matthew Russo@MatthewRusso
MattIsLive.comSystem #1:
Why systems?
“As to methods there may be a million and then some, but principles are few.
The man who grasps principles can successfully select his own methods. The man who tries methods, ignoring principles, is sure to have trouble.”
Ralph Waldo Emerson
What is a system?
Donella Meadows, Thinking in Systems
“A system is an interconnected set of elements that is coherently organized in a way that achieves something.”
“Anatomy of a Viral App” http://bit.ly/LiftSystems
Step 1: Define your goal. “...in a way that achieves something.”
Cat: Where are you going?Alice: Which way should I go?Cat: That depends on where you are going.Alice: I don’t know.Cat: Then it doesn’t matter which way you go.
Step 2: Identify necessary components.“... an interconnected set of elements...”
Copyright 2104, Rube Goldberg – All Rights Reserved
Step 3: Order matters.“...organized in a way...”
The difference betweena process and a system
is the difference betweena recipe and a bread factory.
Systemssupport processessupport people.
Distribution
Experience
Delivery
Retention
D DD
ER
● Identify● Expose● Expand
● Social Proof● Sales● Customer
Service
● Triggers● Raving Fans● Word of
Mouth
● Indispensible● Remarkable● “Sticky”
Distribution
Retention
Delivery
Experience
GOAL
Dave Brailsford
1%
“Compound interest is the eighth wonder of the world.
He who understands it, earns it; he who doesn't, pays it.”
Albert Einstein
Copyright 2014 - JamesClear.comAdapted from The Slight Edge, by James Olsen
DDistribution
DDelivery
EExperience
RRetention
September 2014
December 2014
March 2015
June 2015
#OGS15
1% 1% 1% 1%
DDDistribution
GOAL
Distribution
D
Identify | Expose | Expand
IdentifyIdentifyWho is your audience? Where do they spend their time? What keeps them up at night? Why should they care about you?
The more specific, the better.
Tap existing audiences to create your own. PR, partnerships, trade publications, marketing vs advertising Online Guest blogging, partnerships, advertising, search engine optimization, YouTube... Offline Storefronts, location, live events, sponsors, promotions, sales, giveaways,
Expose
Jay Conrad Levinson,Guerilla Marketing
Spend 90% of your time, money, and energy marketing your business in the first 90 days.
Expand
“The size of your network's network is always larger than your network.”
D DDDistribution Delivery
GOAL
v
Delivery
D
Social Proof | Sales | Customer Service
Sales
Proactive Check in with current customers
Reactive Resolve complaintsand issues
D DD
E
Distribution Delivery
Experience
GOAL
Experience
E
Remarkable | Indispensible | “Sticky”
$10 pints
$10 pints
$28 t-shirts
Indispensible
Survey.ioSurvey.io
Survey.io
Free Customer Development Survey
“How would you feel if you could no longer use [product]?”
40%>40%>
•Very disappointed• Somewhat disappointed• Not disappointed• N/A – I no longer use product
Use input from prospects and customers to continually refine your product or service.
Feedback Loops
“We've always done it that way.”The most dangerous phrase in business:
Jerry Ross, Ohio Growth Summit 2014 Keynote
“A sale happens once, a relationshiphappens for a lifetime.”
“Stickiness”
D DD
ER
Distribution
Retention
Delivery
Experience
GOAL
Retention
R
Triggers | Raving Fans | Word of Mouth
Copyright - Mashable
Triggers
Raving Fans
Make it easy for people to talk about you and share your business – both online and off.
Word of MouthForLindsay.com
A word on virality...
When R0 < 1, the infection will die out in the long run. But if R0 > 1, the infection will be able to spread in a population.
R0
D DD
ER
● Identify● Expose● Expand
● Social Proof● Sales● Customer
Service
● Triggers● Raving Fans● Word of
Mouth
● Indispensible● Remarkable● “Sticky”
Distribution
Retention
Delivery
Experience
GOAL
Step right up...
Download these slides atSystemsforGrowth.com/OGS
Thank You
