Uncertanity

Are You Spooked? Don’t.

“This feels like a hell. 2008 seemed manageable”

“Will my business survive this? Two of our customers have asked for massive hair cut!”

“How will I manage next 3 months?”

“My pipeline is off the table. This is disastrous!”

“This is not the moment for growth. This is the moment for survival.”

These are some verbatim quotes from TechCEOs with whom we are talking to right now. There is fear, anxiety, pressure to hang in and most painful of all is that (it seems) there is no visibility at end of the tunnel. 

 

“We just came back from our fantastic sales kick off in Bali end January and now this! This is the worst crap show that could have happened at the beginning of the year. “

Are you resonating with these thoughts and emotions? If yes, well you are not alone.

 

Well then in any situation you have two ways of looking at things. One through a filter of fear and anxiety and another through a filter of confidence and progress. Fear usually is usually related to uncertainty while confidence is related to commitment, courage and discipline.

 

It’s all about having the right frame of mind to address this crisis. Maybe we have to learn to shift our mindset and pick up a few tricks from the Navy Seals.

 

There’s a part of Navy SEAL training called “drown-proofing” where they bind your hands behind your back, tie your feet together, and dump you into a 9-foot-deep pool. Your job is to survive for five minutes.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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10 Steps TechCEOs Should Take To Bounce Back

10 Steps TechCEOs Should Take To Bounce Back

If a disease can teach wisdom beyond our understanding of how precarious and precious life is, the coronavirus has offered multiple lessons to the business world as well.

 

The first is that in a globalised business world our lives are so intertwined that the idea of viewing our businesses as islands – whether as business leaders, CEOs, entrepreneurs, share holders, individuals, communities, or some kind of uniquely privileged species – should be understood as evidence of false consciousness.

 

And now, as we start to enter periods of quarantine and self-isolation – a simple piece of protein has shown us that we are as vulnerable and less important as isolated beings just taking care of our individual needs. It has taken this virus to show us that only together as a global community are we at our strongest, most alive, most resilient and most human.

 

Same principles applies to the business world. Only when we are connected with stake holders in our businesses and care for each other’s success we are at our strongest, most alive and most human. Else we run the risk of becoming a platform run by some AI logic that purely exists for profits! More vulnerable to threats just like this pandemic hitting us unexpectedly.

 

Further more, this pandemic encourages us to pause and reflect because we are cut off from the bombardment of distractions and placed in environments (social distancing) where we depend on ourselves, customers who believe in us, employees, friends and family.

 

As we sit on this global social distancing movement, here are 10 things you could consider as a TechCEO to bounce back from this sobering moment in time:

 

  1. Gratitude – If you are reading this and have a running business, let’s be grateful to live in a country with skilled health-care workers we can trust to do the right thing in these situations. And for governments that are doing their best to provide for the needs of the most vulnerable. We are fortunate compared to many other countries. But for many others, the anxiety and suffering remains. Let’s pray for them and continue to show our sense of gratitude to our creator, our community, nation in protecting us during this time of the hour.
  2. Respond and do not react: Many of the uncertainties that people feel today in reacting to a pandemic are the same as they were centuries ago. You don’t have to react like people who are in a spree of panic buying, emptying supermarket shelves of toilet paper and other essentials. Lead from the front and from circle of control. Not circle of concern. The world is not going to end. We will all bounce back.
  3. Reflect on your purpose, vision and why you exist? Is your your business shaken just like the airlines who have nowhere else to go in a cut-throat world where they need to compete with rivals, to drive them out of business and make as much money as they can for shareholders? Or in these times you and your customers can help each other to hang in there, help each other out to move along?
  4. Don’t act like as if you know it all – Most of our client TechCEOs are confounded by these questions. Should I freeze, go slow or make careful moves? What should I do in the short term? Will the situation change in next 2-3 months? Or it’s going to be 8-10 months uphill? It’s natural to have these thoughts. If you are one of those leaders who believes that you must continuously show up as the one in control, be stoic and be perfect – you could be wrong! When you’re in a place of feeling like you have to be perfect, the last thing you think you can do is ask for help. This is the time to ask people for help. You need to be open to different kinds of help. This includes your customers, employees, partners, well wishers, families and friends.
  5. Add more value to your clients and deepen relationships – It’s more important to respect your relationships with and support for customers in an unprecedented time like now. Next few weeks (and months) your customers are going be confounded by same fears, uncertainty and turbulence in their businesses. Find out how you can help them regain confidence, believe in putting together hedges & plans and stay with them to support in executing it. Offer them value added services and communicate more than usual. How you treat your clients that are hit the hardest by this will directly impact the lifetime value you realise from that client. Build deeper relationships and enhance your social capital.
  6. Review your solution and product portfolio – We have one global common trigger event. A pandemic. For next few months, key driver for both public and business consumption will be basic essentials – food, shelter, healthcare, communication and few more needs that keep lights on. Ensure that your solution or product is geared to address those needs. Do not go to market with solutions that promise colonisation in mars or hyperloop travel. Message the market accordingly and reach out to customers to support their immediate needs. Positioning ‘work from solutions’, ‘remote sales team’, ‘mobile healthcare’ and many other solutions that facilitate distributed work modes and support social distancing will be well received. Not all industries and businesses have equipped themselves to handle such a sudden black swan event.
  7. Go to market in a meaningful manner – Some of the market segments that you serve may have been hit harder than others. You need to establish the right motions and approach to each of those segments. The ones that were hit harder may be the ones where you have to invest in helping them and lean in as an organization. At the same time, focus on segments (Eg: healthcare, security, communication, mortgage refinance, food) who are meaningfully supporting communities, businesses and individuals to hang in there. These segments will gorw and your services to them might be vastly needed.
  8. Stay agile – Set out a clear set of priorities and implement them with a high degree of autonomy and empowerment. In a dynamic situation, overly centralising decision making impedes your organization’s ability to respond quickly and effectively. Effective leadership is to empower employees to make the best decisions they can, bearing in mind a clear set of priorities, such as keeping everyone safe and behaving ethically toward customers. Responding quickly and meaningfully to clients, partners and important stake holders is more important that imposing command and hierarchical control.
  9. Take action – This is not the time to retreat. If you operate at this level you are taking actions in reverse. Businesses that retreat are probably trying to avoid the negative experience they imagine will come from the results of taking action and possibly risking everything. Some of our client TechCEOs are taking multiple actions roll out campaigns that support remote working (eg: AWS Workspace, Citrix, VMware Workspace One), enhance their go to market kits (customer case studies, EDMs, presentations, landing pages) and reviewing their market positioning and re-brand initiatives. This is a perfect time to focus on important initiatives that you have put in back burner and did not have the time to prioritise. This is the time to get those thing done in a hurry. Prioritise incremental organisational value addition projects when the market is in a lean mode.
  10. Show up everyday – Understand that this too will pass. Nothing lasts forever. Those who don’t quit but instead dig in and get through them will come out the other side with a better work ethic, an increased customer base, and a bigger piece of the market. Remember, any problem you face now is an opportunity in disguise. The question is, will you be better or worse when this event goes away?

 

 

P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business:

1.   Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

Do TechCEOs Get ROI from Marketing Click here.

Should Tech firms consider Re-Branding to Drive New Demand – Click here.

 

2.   Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

 

3.    Join our TechCelerate Implementation Program and be a Case Study

I’m putting together a new coaching case study group at TechCelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action now and grow. Best Wishes.

Singapore TechCEOs

5 Steps Singapore TechCEOs Should Take to Scale Business

Given it’s strategic advantage of location, Gov support, eco-systems and access to technology – why do TechCEOs in Singapore struggle to expand their business?

 

Here is a clue. It has nothing to do with what you are doing right now.

 

We find a lot of Singapore TechCEOs get stuck at $3-$4 million revenue mark. They linger there for a very long time. It has everything do with NOT having a clear revenue strategy and framework to process information and take decisions.

 

We have come across many Singapore mid sized tech firms who demonstrate excellent delivery, have an impressive customer retention rate, and has been in business for over 4 to 7 years. At the same time, when it comes to growing revenues consistently, TechCEOs struggle and always at logger head with marketing and sales teams causing discord and missed revenue goals.

 

Every tech firm needs a foundation to build on, figurative “pillars” that hold up the rest of the business and help you grow. By remembering your roots, though, it’s always easier to cut through those shiny distractions and keep your growth goals in mind.

 

Here we’ve listed the five pillars that every TechCEO should have in place in order to facilitate growth in your tech firm:

Challenge #1 – Understanding who you are and why you matter?

What are the reasons you started your tech business?

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Market of One

Selling To Market of One

In any tech market these days, there’s really first place, second place, maybe third and then the rest.​

Who wants to be rest?

When you think about markets such as fast food, consumer, tech or business, what are the first names that come to your mind? McDonald, Uber, Apple, Microsoft? 

The seconds, thirds and the rest simply don’t exist.​​


​If you are the rest, it is so darn difficult to get attention, attract prospects and get them interested in what you do.​​​​​

Ideally, you want to create your own kingdom and own it. Don’t you?

The point is there are only one or two names that will leap to mind in any category.
They own the category.​​​

They are the category.

And that’s where you want to be with your business. But how can you get to be first?

The answer to being first is not to simply “become visible”. You want to be visible in a way that is trusted, sought after, highly paid, in demand and authoritative.

Your aim is to be visible with authority. So visibility isn’t enough.

But you have another, even bigger problem. The bitter truth is that most markets are really crowded. The leader in any category has often been established for years, if not decades and will be difficult to replace.

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10reasonsGrowth

10 Reasons Why Technoprenuers Don’t Grow Revenues?

Most of you got into tech business because of the “promise”.  

Promise to earn an income. You want to create money freedom for yourself and your families. The second promise is to create an impact. You want to grow, create impact for your clients and make a bigger difference in the world. The third promise is independence. Freedom to innovate without restrictions.

Yet, despite your best efforts, majority of technoprenuers I run into aren’t achieving all three of these goals. In fact, many of them are struggling to grow, tired or both. 

So, why is this the case for so many technoprenuers like you? 

 



1. Lack of clarity – technoprenuers are good in creating technical value. Not all are good in monetising and growing business to next level. This includes creating a revenue strategy that defines clear goals, markets, sales, marketing and talent. 

For example, lacking clarity in choosing the right market, kind of customers you have to pursue, right offering, deal size, go to market and resources to needed to get there can accelerate or derails your growth plans. When you lack certainty of direction in your business it causes you to be hesitant to take action on big decisions that will give you big results.

 

Self reflecting question: Do you have a well defined revenue strategy for your company? Does it fit into one page?

 

2. Poor execution – Translating strategy to execution needs both a process and discipline. Technoprenuers are usually impatient, try too many things and slip up on execution. Many companies have deployed brilliant strategies and still missed their number. This is due to poor execution. Companies who fall into this category will likely survive, but will find growth difficult. The execution of well defined strategy is where the magic happens.

 

Self reflecting question:Do you have an execution plan with clear actions, roles and responsibilities and target dates?

 

3. Passive marketing –  If prospects don’t know you exist, they can’t give you business. Most technoprenuers aren’t savvy in marketing themselves or their company. At best, your marketing is too passive or patchy. We have found that most technoprenuers have no clear marketing strategy at all, or at least none that they could articulate. They reported that while they might enjoy the occasional success, essentially they’re relying on luck more than anything else.

A feeble attempt to hire someone to “do social media” for the company is not a marketing strategy. Putting some content on website or in Linkedin is the easy part, getting anyone to read that content is what takes skill. When your content doesn’t do anything to attract readers, get their attention and drive traffic – you do not have a marketing strategy at all.

 

Self reflecting question: Do you have a well thought out marketing strategy?



4. Unreliable sales process – Technoprenuers rely too much on partners, joint ventures and other quick routes to get sales. They don’t realise that having organic sales capability increases your company valuation. Lack of a predictable demand generation and sales process results in prospects stalling or dropping out. Most of them don’t realise that their sales process is dead or does not exist.

The best tech companies today don’t use a sales process to sell.  They use a buying process to understand and match themselves to the customer. Understanding this helps them deploy specific actions and activities.  These help pull the customer through their buying process.  They help strengthen compelling events. And help prioritise the customer’s problem and use your solution exclusively to solve it.

 

Self reflecting question: Is your sales processes aligned to your customer’s buying needs? 



5. Unscalable model –  Technoprenuers get stuck with the same business model that worked for them in the past years. They haven’t revisited or changed revenue model to suit current times. For example, SAP shops are selling time & material hours or projects. Legacy shops managed services. Product companies selling on prem slapped with services.

What you don’t realise as a technopreneur is that if your business is primarily dependent upon you and your efforts, by definition, your business can’t scale. Also if your business model has a linear relationship between revenue and cost, it’s hard to scale because scaling requires a lower cost per unit of acquisition.

One of the mistakes a lot of tech business owners make on this subject is that they think in absolutes—in other words, they use binary thinking—either you’re scalable or you’re not. Irrespective of the size of your business, do know that it is possible to take your current business model and make it more scalable.

 

Self reflecting question: How scalable is your current business? Is there a linear relationship between revenue and cost?


6. Stale Talent – Technoprenuers are stuck with wrong set of people who might not be the right fit for the role. In early stages, you need misfits and in the growth stage you need builders and scalers. Some argue that talent is 50% of the business success equation. The other 50%, of course, is performance conditions. No matter the ratio, your people are key to hitting your number.

There are 3 errors technoprenuers make in hiring.

  • Hire someone with wrong competencies.
  • Hiring people but not communicating and tracking accountability.
  • Compensation is not in alignment to what you want to achieve.

Making a mistake here sets you back by years. Many technoprenuers have burnt a lot of cash, time and have also fallen prey to cynicism.

 

Self reflecting question: Do you know who to hire, how to make them accountable and how to set compensation?

  

7. Lack of measurement – What does not get measured does not get managed. Usually, technoprenuers run their business with this formula. Acquire new customers, retain your customers and grow your customers. Sounds easy. Yet it is so difficult to unpack without proper measures. Most technoprenuers are not even on top of their sales pipeline!

If you do not have a way of measuring your lead flows, deals, sales cycle length, deal size, conversion rates, new vs repeat business – you are already in red flag area. You will be overwhelmed and will not know what and how to control in your selling function.

 

Self reflecting question: Do you know what to and how to measure, in sales, to take control of your revenue growth?

 

8. Lack of patience – Passion and patience go hand in hand. Living in line with your passion will probably require that you go slower than you might want to. It will definitely mean that you say no more than you say yes. Being patient and yet methodical will go a long way in taking you forward.

Technoprenuers often try too many things, when something does not work, and end up spreading it too thin. They don’t give enough time to work on one thing to reach a goal before getting onto another. This attitude often derail any progress made.

 

Self reflecting question: Have your tried sticking to one thing and giving it time and energy to succeed? How often are you distracted from your path?

 

9. Hit refresh – After tasting a bit of success in the first few years, technoprenuers struggle to change their ways and be more in sync with the current environment and business situation. They struggle with this question. w“Is change possible?” and “How can I be effective in creating change?”.

They fail to realise that the key to creating change is to acknowledge that every behaviour has a ‘frame of mind’, constructed of values, beliefs, identity and intention, and unless this is addressed your mind will act like a gyroscope bringing your behaviours back to this frame. The cost of this ‘stuck’ behaviour is not just in dollars but confusion in your company, amongst employees, who are paralysed by lack of communication and cohesion at the top.

 

Self reflecting question: Are you stuck in a fixed mindset patterns influenced by old beliefs, past failure and misplaced intentions?

 

10. Lack of Self Leadership quotient – Let’s first define Self Leadership. Self-leadership is about taking responsibility, get as much information and use your autonomy to make decisions to take purposeful action. Self-leadership empowers people to adapt to the current circumstances whilst maintaining a strategic focus towards the larger goal. 

Often times I find technoprenuers who have stopped growing have succumbed to the environment (board, investors, employees and market situation) and sub-consciously stopped taking responsibility for their current situation. Without this you lose the ability to influence your communication, emotions and behaviour and
get in your own way of reaching your goals and aspirations.

Self reflecting question: How do you perceive, feel and understand your current situation in business? 

 

 

P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business :

1.   Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

2.   Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

3.    Join our Techcelerate Implementation Program and be a Case Study

I’m putting together a new coaching case study group at Techcelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action now and grow. Best Wishes.

Setting Sales Goals

Setting Sales Goals, Ideals, And The Power Of Make-Believe

Success begins with setting goals. Without goals, your team lacks the key elements it needs to win — a direction to follow and the encouragement to stay motivated in Sales.

When it comes to goal setting in selling, there is a right way and a wrong way to do it.

Setting goals that are actually achievable and measurable is vital, not only to our success but to our confidence. And it all starts with what we base our goals on.

Moreover, goals lend clarity and purpose to your organization. They enable your team to track collective and individual performance. Goals also help assess the efficiency of tools and methods, and formulate strategies for improvement or growth.

Ideals guide us but aren’t achievable.

For many technoprenuers, coming up with big ideas is our bread and butter. In our imaginations, the sky’s the limit, and we can envision a future that might seem impossible in the present.

Having big dreams is part of what’s made you as successful as you are. While others might dismiss big dreams as “make-believe,” for you, it’s what keeps you fascinated and motivated and always growing. Having ideals helps you to envision your bigger future. But when you’re goal setting, it’s important to be able to distinguish make-believe from reality.

Our ideals are crucial. They help us look ahead and keep us inspired. Goal setting, however, requires that we extract achievable, measurable goals out of the abstract ideal. Ideals themselves are not achievable. But concrete goals are.

Measurement vs. make-believe.

The goals we set, based on our ideal vision of the breakthrough we want to achieve, must be measurable. They must be based on a specific number or specific event. An example of a measurable goal is “multiplying my revenue by 10x over the next five years” or “winning 15 new accounts by Q2.”

If your goal is too abstract (“improve my business,” “increase revenue”), it exists only in the realm of the ideal and will remain forever out of reach. When setting goals, remember—if it’s not measurable, it’s make-believe. Setting a non-specific goal means that you’ll never know for sure whether you’ve achieved it. If it’s too general, you’ll have no way of determining if you’re there yet or how far you have left to go.

Setting specific goals and executing detailed strategies for achieving them resulted to an average academic performance improvement of 30%.

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Growth Technoprenuer

Grow Your Tech Business With One Simple Mindset Shift

Recently, I notice a lot of technopreneurs who glamorize the many roles they play in a company. It’s something that evokes feelings of pride and honor in them.

“I have so many roles.”

“I’m responsible for the sales, marketing, accounting, and the client work.”

“I’m executing it all.”

If your main goal is the “freedom to create big impact, value and succeed”, is this the most efficient way to be handling your tech business?

The ability to possess a more lucrative high-value tech business AND more personal time.

If this resonates with you, then I’ll affirm that taking on more roles is not the way to go.

As a matter of fact, the #1 operating principle in my business is to fire myself.

The fewer roles I play, the more I can act as the owner of the business instead of playing the role of the employee.

The majority of technopreneurs have not really processed this. They become attached to their business and tend to believe that the business and themselves are synonymous.

In reality, playing the role of the owner is the main ingredient in creating real asset value in their business.

For the sake of practicality, you’re probably playing a myriad of roles today. You might be playing the roles that handle selling, marketing, financing, billing, client work etc. 

To fire yourself efficiently, it is necessary to find opportunities for other people to fulfill the roles you have been playing.

Not long ago, I held a Tech Business Seminar where I organize a chart displaying what a tech business looks like. Every responsibility of the firm is listed alongside the name of the person responsible for it – similar to roles in a company such as a CEO, COO, VP of Marketing, VP of sales, etc.

This is applicable to every tech business.

Regardless if you’re a solopreneur with limited to no staff or a tech firm with over a hundred people, the organizational structure is tantamount. However, a technopreneur in a smaller firm might face the challenge of playing more roles in their business compared to one in a larger firm.

Let’s say your name is listed next to all the responsibilities. You play the role of the owner, CEO, VP of finance, and VP of Sales and Marketing. It’s all displayed in front of you. Seeing it visually represented helps you see which tasks you can get others to take on, thereby reducing the number of roles you play.

Here’s what I’d like you to do: List out all the tasks you are responsible for in your business at this moment and question, “ Can I fire myself from that task?”.

Seeing it visually represented allows you to have a clearer picture of who has what responsibility in your business. Thereby allowing you to delegate many of your roles to other people.

In our coaching program, we utilize a process called Delegation Liberation. It helps technopreneurs figure out the most efficient way to delegate tasks so that the result is done to highest quality standards. It gives you the freedom to relieve yourself from the responsibilities associated with the operations sector of your business.

I highly recommend technopreneurs to think along these lines.

How can you play the role of the owner instead of an employee?

 

P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business :

1.   Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

2.   Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

3.    Join our Techcelerate Implementation Program and be a Case Study

I’m putting together a new coaching case study group at Techcelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action now and grow. Best Wishes.

12 Accelerators

The 12 Accelerators: How To Scale Your Tech Business Fast?

I want to teach you the model that helps us scale your Technology businesses.

You could be a System Integrator, Software or Hardware OEM, Specialist Services Player (Analytics, Security, AI), IT Services or into tech business that is into a consultative selling cycle.

I don’t know how much you know about the work that we do, but our job is really simple.

We take Technology businesses with an annual run rate of USD 1M up to USD 10M and take them from $X a month and help them to get to $2X within a year. And we do it with this model right here:

More than anything in the world, I want you to have a technology business that can scale.

And what I mean by that is a Technology business that gives you more of three things.

I don’t know why you became a Technopreneur, but I’ve got a hunch that there are three things that you want.

Money

Number one, I want you to have a technology business that takes the lid off the amount of money you can —the amount of cash you can make, and income you can make from your business.

Most tech businesses are stuck or limited —the amount of money they can make mostly depends of the number of clients added, number of projects executed or number of licenses or subscriptions sold. If this is not happening, you are not making money.

So, we want to take the lid off money.

Meaning

Number two, that maximizes the amount of impact you can make.

So, in other words, that instead of making a big difference to —like 5 or 10 or 15, maybe —like, 20 clients, that you can impact hundreds of clients instead. Or you can pick and choose key clients with whom you want to do business and grow.

 

Freedom

And thirdly, the amount of freedom you can enjoy; we take the lid off that as well.

I want you to have more money, and more meaning, and more TIME freedom.

But more money, and more meaning, and more freedom are really the three things that drive me and most of our clients.

The three things I think we want more to grow your Tech business.

To get more money, more meaning, and more freedom, there are FOUR parts of your technology business that we need to focus on.

 

Attract

We need to look at the way you attract leads, the way you get them interested, the way you convert them into clients, and the way you deliver your service so you can help more clients succeed — and make more money.

Right? Here’s what happens, though.

Most technology businesses aren’t built in a way that can scale at all. Most technopreneurs don’t have a system that helps to attract prospects, get them interested, convert deals and propagate your good work.

Because they don’t, they end up with no audience or pipeline. Right?

In a little bit, as we go through the How To, I want you to kind of —to look at this not as, “Oh, this is interesting content that Mag’s teaching.” But I want you to look at your technology business through this lens.

Now, most people don’t have a way to get enough leads in. So, then, no audience. Like, world’s best-kept secret; no fun at all.

Most —so, that’s the opposite of being able to attract.

 

Interest

Once you are able to attract prospects to your domain, you need to get them interested in what you do or offer.

Without interest, you will not be able to get engage deep with your prospects. Interested prospects are curious.

They would like to know how can you solve their problems and get them to a safe place. Your prospects are inundated with choices and are facing an overwhelm. Without interest, you are not going to go too far with them in their buying cycle.

 

Convert

If you think about the convert side of your business —the way you convert prospects into clients.

Most technopreneurs don’t have a way to convert the client —prospects into clients.

They end up with a big fat cash problem called, “no sales”. Right?

No audience means your marketing is limited.

No sales mean we’re not converting prospects into clients. So, it hurts our dollars.

 

Propagate

Now that you have successfully delivered your client engagement, how can you make your client become a raving fan of what you do?

How can you ask for referrals? How can you make your client sell for you?

This something big companies have mastered. Technopreneurs are often in the dark when it comes to propagating their body of work through referrals from existing customers. You need a system to get this done.

The 12 Accelerators

What I want to do in a second is I want to share with you the twelve accelerators — the twelve projects that we use to drive a technology business and take you from where you are right now to a 2X dollars a year in the next 12 months.

We’re going to start with Attract side of the model because frankly, we’re going to generate leads and we’re going to sell stuff. We need to know what we’re going to get leads for and what we’re going to sell.

Okay? So, under Attract, there are three accelerators —three kinds of focus areas that we zoom in on in order to grow your Tech business.

 

Attract: Segment

What is your target segment? Who is in your target market?

The easiest way to think it is who do you love dealing with? Who in the past have you had good success with? Who you like working with on a day to day basis and could do for the next year or more?

So there is your target.

We can then get deeper on that, of course, and look at what keeps them up at night, what the pain is. But for now, choosing the right target market and the segment will allow you to focus, message and differentiate yourself from the competition.

 

Attract: Build authority

The second thing that helps your business to differentiate is to build authority.

Positioning yourself as an authority is critical. It affects how many referrals you get, how much clients will pay, and, when done correctly, can begin a new chapter of truly enjoying your practice.

To go from ‘Who are you?’ —best kept secret— to kind of a big deal in your space is extremely crucial.

So, we want to fill your funnel; that’s about getting leads in. And then we want to build your authority so that it’s easier to sell to the people that you’ve got —so they become quite a big deal. The more authority work we do, the easier that sales become.

 

Attract: Install automation

Again, so that you don’t have to do all of this stuff yourself. Automated just means you don’t have to do it.

So, it might be that you have a virtual assistant running some of the systems for you.

It might be that you have an active game plan campaign or Hubspot, or any other software gadget —some kind of system that you can design a campaign and just have it run for you every single week without you having to be physically involved so that marketing does what it needs to do.

When we can do those three things; Segment your market, build authority, and install automation, guess what happens?

Now, you’ve got an attraction system that is absolutely humming.

We’ve talked about the three accelerators for how you attract leads into your tech business. And in just a moment, we’re going to talk about the way you get them interested in you.

But what I’d love to know right now is if you think about these three attraction pieces, what do you need most right now?

Do you need to analyze your market and identify your target segment?

Build authority and become a bit more of a key player in the space?

Or is automation the thing that you most need?

Do us a favor and just type into the comment box, which one of those three? Leave us a comment, which one of those three do you need most right now?

Now let’s move onto the Interest side of the model.

So, under Interest, there are three accelerators —three kinds of focus areas that we zoom in on in order to grow your Tech business.

Interest: Sell with webinars

So, on the Interest side, the first thing we’re going to do is we’re going to audition clients. The second piece is to sell with webinars.

Big fan of the old webinar; done a bunch of them in my time. And frankly, it’s a little bit of a secret weapon.

There’s something magic about being able to show up on a webinar, and have a few hundred perfect prospects show up as well, teach your heart out for an hour or a little bit more, and then have them jump on your offers and say, “That was incredible, but I want more.”

That’s exactly what we want. Okay? And so, the second Interest driver that we run to grow your tech business is to sell with webinars. And that —which leads us to the second.

 

Interest: Fill your funnel

So, the second thing we need to do in the interest side is to fill your funnel.

Most technopreneurs don’t have a funnel, and if they do, it’s not full.

And so, there are two parts of that:

It’s designing out the perfect funnel to get you the leads that you need, and then turning on the traffic tab to drive people through —whether it’s to a webinar or a case study funnel, or an appointment funnel.

We just need a simple funnel that drives new traffic your way and generates the leads you need for your funnel. That’s the first project —that’s about getting rich.

Convert

On the convert side of things. There are three ways that you can scale up client conversions.

They are Strategy Session, Value Builder, and Killer Proposal. Each of these is designed to convert your prospects into paying clients.

 

Using this framework, we have been able to help technopreneurs install systems and tactics that allow them to scale with very little resource investment. Without a system, a process and an approach you are pretty much stumped and cluttering yourself with unwanted activities.

In summary, I don’t know what your colors are. Whether you have a lot of greens (going is good), or lots of oranges, or lots of reds. But if you had more greens and oranges than you’d like —or frankly, you’re on the right track.

But you just want to go faster— then, I’m really glad you’re here because later this month, we’re starting a brand new case study group for our Techcelerate Program.

And we’re going to work really closely over two or three months with a small group of coaches and help them to implement these systems week by week by week to go from red to yellow, and yellow to green.

It could be the perfect way for you to go from where you are to 2X your revenue within a year in your technology business quickly. In it, we cover each of these twelve accelerators with a heavy focus on – Attract Cycle, filling your funnel, and then converting opportunities into deals.

Take good care. I’ll talk to you soon.

 

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P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business :

1.  Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

2.  Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

3   Join our Implementation Program and be a Case Study

I’m putting together a new coaching case study group at Techcelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action and grow. Best Wishes.

How to Double Your Tech Business Growth By Simplifying Your Plan?

If your tech business feels heavy and complex, I’ve got some good news for you. The secret to growing your tech business from where it is now to where you want it to be is SIMPLICITY.

When you started a business, you focused solely on survival. You did whatever it takes to stay in business. You took on whatever clients will hire you and deliver your services any way you can.

Though you simplified the business in some areas, over time, your business becomes complex.

For instance, you may create multiple tech practice areas, build a team with various capabilities, sign complex deals, automate emails for marketing, or hire virtual assistants to complete repetitive tasks. We add these things, but lose sight of the fact that this adds complexity to our business, and it’s very hard to scale complexity. 

 

A lot of technopreneurs assume that a more profitable tech business is just a larger version of their business. In actuality, the business that thrives and creates more freedom for the founder are based on simplicity, not complexity.

I’d like you to challenge your assumptions about scaling and business growth.

If you feel you have too much on your plate already, remember, there are only so many hours in a day. You won’t create a larger, more profitable business by doing the same things that got you where you currently are.

We’ve all heard the phrase, “What got you here won’t get you there.”

 

What’s Your Vision?

Here’s a quick exercise you can do to think about where you’re headed and make sure you’re on the right path to creating the ‘tech business of tomorrow’.

Pull out a sheet of paper and spend five minutes writing down your vision of what you want your practice to be.

  1. What do you want your revenue and profits to be?
  2. Who do you want in your business?
  3. What kind of clients do you want to serve?
  4. Then, look at where you are today and ask yourself, “Is everything I’m doing right now consistent with that vision?”

Almost all technopreneurs that do this exercise will find that the answer is ‘No’.

They’ll find it’s impossible to double their revenue by continuing to work in the same linear way they’re doing right now.

Once you’ve finished this exercise, you’ll see you need to jettison some of your activities to get you on the path from where you are to where you want to go.

Of course, the million dollar question is, “What exactly does that path look like?”

You have to start somewhere, and without a clear vision of where you want to go, you’ll never be able to create a step-by-step process to get there.

Hopefully, you’ll find this model helpful in thinking through some of the things you need to get rid of to simplify and lighten your practice. If you want to double your business, it needs to become more simple for you, not more complicated.

Life would be easier, revenue would increase, your processes would improve, and you’ll move up in the market much faster when you work on simplicity, rather than scaling the complexity you have today.

 

********************************************

P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business :

1.  Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

2.  Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

3   Join our Techcelerate Implementation Program and be a Case Study

I’m putting together a new coaching case study group at Techcelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action and grow. Best Wishes.

3 Unusual Ways to Standout and Win

Last week, had coffee with a technopreneur in Singapore. What he said blew me away!

After getting to know about his business, the past 6 years of his roller-coaster life as an entrepreneur, motivations to start a business in his 40s after quitting a well-paid job in an MNC – casually asked him this question.

“What is your definition of success and failure? And why now?”

After digging his head down for a few minutes, he looked me in the eye and said this.

My definition of hell is to reach the end of my life and coming face to face with the person you might have been!

I just want to go with no regrets in my heart. So here I am.

In his world, there are no costs or losses.

Just investments.

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