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Discover what the best authors on Start Ups have to say before deciding to invest time and money buying and reading their text books.
The Chasm was identified by start up guru, Geoffrey Moore in his classic "Crossing the Chasm."
It's the slump in revenues between the initial burst of sales after launch and long term sustainable growth in mainstream market. It's the killer for most start ups and we tell you how to avoid languishing in it before you run out of cash.
All start ups have to Cross the Chasm. In this course we describe the two ways to do it as outlined by Moore in his world renowned books. They are mandatory reading before going into business. You get the summary in this course so you can get off to a good start before reading the books in full.
We also highlight the single most important maxim in business growth from Fred Reichheld in "The Ultimate Question."
"The only way to grow a business is to bring your customers back for more and get them to tell their friends."
Take this course and learn how to do it.
Also learn about Ansoff's Matrix and the 4 selling situations in which you will be required to turn customers into unprompted advocates. Each situation requires a different approach and we will teach you what to do in each case when you take this course.
The business genius, Ansoff, identified the four situations you will logically encounter as a start up.
You will be either selling
Existing Products to Existing Customers,
New Products to Existing Customers,
Existing Products to New Customers,
or the most difficult New Products to New Customers
In each situation, the way you win new customers and turn them into your best marketing assets will change and we tell you what to do in each scenario.
Understand what customers are most concerned about.
Address their fears and get them to tell their friends that you got it right.
Learn about the six points where customers will judge you.
Knowing about the 6 customer touch points will focus you on the right places to invest time and money.
Understand and meet customer needs consistently to the point that they recommend and become your sales and marketing engine.
This proven approach will save you time, money and build your confidence.
This is the fastest way to familiarise yourself with the work of the best thinkers in the field of business start ups.
We look forward to working with you as you take this course.
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|Section 1: Introduction and Intended Outcomes|
We work on the assumption that the only way to generate sustainable sales for a start up is to identify the clients who will gain most from doing business with you and to get them to come back for more and tell their friends.
There are two ways to make contact with your first mainstream customers and six points of contact where they can pass an opinion on you and decide if it's worth recommending you to friends.
Humans are fundamentally riddled with fears and if you can relieve the appropriate fear and create the story that others can tell on your behalf then you will generate sales at low cost and with maximum impact.
|Section 2: Crossing the Chasm|
Here we begin your introduction to the concept of The Chasm. It's the gap in time and sales between finding your first sales and breaking into the richer and more predictable mainstream markets. The faster you leave The Chasm the better.
There are two ways to engage with your first customers and start turning them into people who will advocate to the Mainstream clients. One is to target and contact based on being outbound into the market. This is known as the Bowling Pin Model based on Crossing the Chasm by Geoffrey Moore. The other is the Freemium which relies on bringing clients to you because all costs in early adoption have been removed. Try it without risk before engaging more fully. This is common in software as a service sales.
In both cases the objective is turning your best customers into advocates - the proven and most impactful way of generating sustainable sales revenue.
|Section 3: The Ultimate Question|
The Ultimate Question tests how successful you are in converting your best customers into people who come back for more and tell their friends.
|Section 4: The Basic Concepts of Sales Strategy|
The lecture highlights the 6 points at which customers will form their opinion before recommending to their friends.
We identify the points at which a customers touches your business and can pass an opinion before deciding to recommend. The emphasis shifts across these points according to which strategy you have adopted. Here we describe in more detail what the touch points mean at the level of practical execution and the emotional response of your clients.
|Section 5: The 4 Strategies and Handling the 6 Touch Points|
Ansoff applied common sense logic to the 4 different sales scenarios. He identified new and established markets and new and established products and the 4 combinations. Sales strategy has a different emphasis in each case.
Logically you will be working either with a new or existing product and new or existing markets (customers) which means there are four combinations of start up type and four proven strategies that work best. We describe the scenarios and the typical client concerns and the broad approach to winning new business.
Using the example of the Dell PC launch, the requirement is to find a differentiator which allows you to promote a plausible message on price. Dell took cost out of the supply chain and passed it on to customers. The market were easily persuaded that it was a commodity product equivalent to the existing market leader and that provided Dell could "deliver" on the promise of direct delivery the choice to switch would be an easy one.
In this scenario focus on the advantages of the unique selling point of the new product. In this case study we look at the All in One printer which initially faced market resistance because of the fear that it might represent a central point of failure - one bit fails and you lose all four devices. The imperative was to allay all fears by proving them to be baseless and promoting the message at every opportunity.
In this scenario the market already have clear expectations and prior experience. You will need to focus an a salient aspect of the product which gets the market talking and promote the advantage with a singleness of purpose. You may need to leverage a price advantage which provides a good reason to buy but support it by promoting the feature which makes the market sit up and take notice.
This is the most difficult scenario a start-up can face. You are disrupting the market so the promise of future benefits needs to be life changing. You will require evangelical zeal and your people need to believe with near biblical levels of passion and sincerity. You may regard the concept as the best thing since sliced bread but remember that once upon a time the market was sceptical even about that concept.
|Section 6: Summary of Strategic Technique and Actions|
In this lecture we summarise the key lessons from Crossing the Chasm, the Ultimate Question, the 6 Customer Touch Points and Ansoff's Matrix to help you form a Sales Strategy for Growth irrespective of your circumstances. We add some practical tips on getting your message across
We introduce the concept of sales growth being like getting a viral conversation started and simplifying the key message into 12 words or less
1. There are many times in life when we know we need some guidance but it's tough to ask for help.
2. Fear of what others might think, pride or embarrassment can hold us back.
3. Our courses deal with subjects which are difficult to talk about to your boss or other people.
* Dealing with difficult people
* Anxiety about basic skills
* Alcohol issues
We offer the soft skills for hard times
4. They are affordable and accessible any time and any place on the internet.
5. You can learn in total privacy.
6. We are on-hand to offer personal support via Skype should you need it. We've been where you are now.
We can help you to uncover the sub-conscious forces driving unhelpful patterns of behaviour and create the conditions for you to create a long-term solution.
Preview our courses before you enrol today.
About Peter Urey.
Trained to advanced level in personal coaching techniques including Clean Language and Symbolic Modelling, Hoshin Planning, Business NLP and HP's Leadership Development Programme.
Experienced coach for Hewlett Packard, Symantec, Canon, Epson plus many more.
Educated in Law at University of Oxford.
Aged 56, married 29 years, 3 adult children.
Student of Clean Language and Symbolic Modelling under Marian Way, author of Clean Approaches for Coaches.
Black Belt in Karate.