Six Amazing Keys to Your Business Success in the 2017 Digital Age
From ex-SharkTank Kevin Harrington Presentation at the Grant Cardone 10x Growth Conference 2017
The 10x Conference
This three day event took place in the Diplomat Beach Resort Miami Florida USA presented by Grant Cardone on March 17th-19th 2017. The first day was on sales and called the Sales Summit.
The line up of speakers was impressive and they delivered content and value worth of the ticket price, which were not cheap and you get what you pay for just like (Grants favourite brand) a Hublot watch.
Kevin Harrington
The first speaker was Kevin Harrington ex Shark Tank and father of the Infomercial. Kevin explained how he had the entrepreneur spirit as a child and mentored by his father Charlie, went on to work in business, then run a business while still under sixteen and then progress further buying and selling businesses always on the lookout for something that he could make money from.
Kevin went on to give himself a good all round business knowledge of all the different elements that make up businesses; sales marketing, inventory, legal and then offered these services (an out sourcing model) to other business; called the Small Business Centre, a one stop shop for your local business needs, and then selling this business moving on to other projects.
Kevin then went on to talk about: The Six Amazing keys to Business Success in the Digital Age:
The Old Ways Don’t Work
1: The Old Ways Don’t Work: begging for bank loans, carrying stock, doing everything in house. The new way is best; out sourcing everything but front facing customer stuff, customer service should always be in house.
Kevin went through how you can run a large business with very little staff, with very little overheads, access to assets is the key, outsourcing and no commitment infrastructure, using virtual assets and partnering were possible. Snap chat has only 20 plus employee's and yet went public on the stock exchange and is worth billions.
Build Your Dream Team
2: Build Your Dream Team: Use virtual services, hire companies to provide services, use on demand services for products, leverage, and partner and collaborate with others is a must. Use coaches and mentors, use financial and operational experts, you get what you pay for with quality experts, hires slow fire fast.
Use celebrities and digital advertising gurus. Use partnerships to create new income streams. Yes this easy for Kevin to say now as he has a big reputation and big names want to work with him nevertheless you can still partner with prospective networking people who will give you value and progress.
Raise Your Profile and Build your Brand
3: Raise Your Profile and Build your Brand: Kevin talked about how the old news paper publishing model is in decline and is struggling to maintain relevance in the digital media environment.
Kevin then gave an example of how the NY Times turned this around by doing in house staff “Shark Tank” challenges as in-house feedback.
The NY Times now have different ways of doing business with digital revenue turning their profits around and now the digital media generates 70% of NY Times revenues. Forbes did the same, but using the Huffington Post model by exploitation of user generated content, freelance copy people who did the work for them.
Develop yourself as authority in your space, podcasts, radio interviews, local networking events, at trade shows, magazines, on blogs, and giving social media content, publish digital magazines and books. Kevin showed slides which list the benefits of digital publishing and his digital magazine is called Shark Entrepreneur.
Kevin then went on to say he uses a marketing plan based on “LinkedIn” join targeted groups, make meaningful contributions and notice who are the influencers and develop relationships with them, post regularly; two posts in the morning and two posts in the night, be consistent, be useful and be a catalyst for others.
It can be done and Kevin talk about and gave two examples: Michelle Phan (how to do make up from her bedroom) now her company is worth $500 million and the Dollar Shave Club which the Unilever company bought for a billion dollars.
4: It’s the Digital Age, Digital Disruption Is Everything. The digital age is speeding up market saturation, what took television 13 years and radio 38 years to reach saturation point, now that can be done in weeks by the big digital players Pokemon app took 15 days and it getting bigger singer Ed Sheeran’s “Divide” had 375 million downloads in one week.
All business now must have a digital strategy, the media market is fragmentised and competition is moving from television to the wireless internet and to platforms such Face Book etc. Kevin stated that Warren Buffet one of the world’s richest men dumped Wal-Mart stock and bought Apple stock, most bricks and mortar retail stores are hurting and they are in a slow decline.
Businesses are using the Uber model and Kevin gave an example of Bellhops, where you booked collage students as part of a Uber of moving services, fast local and friendly to help you move furniture to a new home or elsewhere. He then listed retail big names that are in trouble and in decline.
He then talked about how it is now all about a collaborative shared economy. And then listed business doing this, Posh Mark, Task Rabbit, Dogvacay.com, Fon, SideCar to name but some, he then proved a point by showing that TV viewership is going down in a chart showing both mobile phone use and mobile video viewership in increasing.
Heat Mapping, GEO fencing, push motivations at trade shows via mobile phones.
Predictive selling is also be trailed, based on your previous use, with the offer saying you may like this? And then actually sending the offer out to the customer at the same time (this in my opinion its fraught with possible legal problems and will see how that takes off, other than as a test project) Kevin said this was predictive selling by big on-line organisations, that may take off.
The Internet of Things
5: The Internet of Things. By 2020 50 million things will be connected to the internet from tooth brushes that tell you information on its use, to light bulbs and thermostats controlled by your mobile phone.
More consumer items are being connected via the internet all the time sending and storing data and you should make use of it in your sales and marketing strategy or make it part of your sales plans, said Kevin.
Micro Moment Marketing
6: Micro Moment Marketing: People today look at their mobile phone look at constantly 150 times a day and use it to look things up when shopping, and Kevin quoted a marketing joke:
Half the money spent on advertising is wasted but they don’t know which half.
Today you can target your market on line, like never before, using data provided, such as age, gender and other categories from the platform provider, like Face Book provide (they did seven billion dollars in advertisement revenue in 2016) as an example, where you can drill down through categories and segment your target market, that you want (or you think you want) with accuracy, like never before, so no more wasted, shot gun pattern like advertising,=.
Now you can laser focus on which half of your advertising works. However do be careful don’t make assumptions about demographics, do small tests, if it works; double up, if it does not work stop and start again.
Now you can laser focus on which half of your advertising works. However do be careful don’t make assumptions about demographics, do small tests, if it works; double up, if it does not work stop and start again.
As Kevin Harrington says:
Digital Test Before You Invest
Kevin then went on to explain other stuff, you should be doing however to read about that, please hop over to my web page Here
Kevin's presentation was for about 50 minutes and contained lots of slides with detailed information to back up or verify his conclusions and set a high standard of quality of presentation, that the audience would now expect from others.
Kevin went in to detail on some stuff which I have not talked about, for that you will have to see one his events or subscribe to the 10x conference video of his presentation.
His six amazing keys, may seem obvious in parts to some, but sometimes you have to tell people the obvious and he has joined the dots so they get to see the big picture.
Kevin can spot trends and note opportunities then take action and now using the six amazing keys to digital success progress quicker and earn more.
His talk also contained his failures, using outdated means of testing and selling, in some cases big losses, however he just dusted himself off and learned the lesson not to repeated that mistake again and carried on.
When you go to a Kevin Harrington presentation you get value for money, and if you get the opportunity, you will learn more and be inspired, no wonder Grant Cardone started off the conference with Kevin, you got the value and the content from the get go.
Kevin has books, publishes his own on-line magazine and has his own web site as Here with free e-books.
I have other business related blogs at WWW.WILLIAMSHORTALL.UK
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