Explore transformative business insights with renowned coach Robin Waite. From engagement strategies to pricing wisdom, learn to master the art of business
In a recent engaging podcast episode, we had the distinct pleasure of hosting Robin Waite, a seasoned business coach renowned for his transformative strategies and author of the impactful book "Take Your Shot." Throughout our conversation, Robin shared invaluable insights on key aspects of business development, including pricing strategies, client engagement, and the pivotal role of partnerships. Let's delve deeper into the wealth of knowledge he graciously shared:
Career Sessions is an integral component of PathWise.io, dedicated to guiding individuals at various stages of their professional journey, whether they are recent graduates or seasoned professionals. PathWise empowers users to achieve the career they aspire to through a wealth of resources, including comprehensive career and professional development content, events, tools, and exercises. These offerings are supported by a team of leading coaches and experts in career management.
James (J.R.) Lowry, the host of Career Sessions, brings a wealth of experience, having navigated through multiple careers and gained invaluable insights along the way. With a background as a Duke engineer, J.R. began his professional journey as an officer in the US Air Force. Subsequently, he pursued an MBA from Harvard Business School to facilitate his transition into the private sector. Post-graduation, he dedicated over a decade to McKinsey and Company, a renowned consulting firm, collaborating with clients across diverse industries and business scenarios. J.R. later embarked on a second career shift, venturing into financial services with roles at Fidelity Investments and State Street Bank. His most recent position is as the Chief Operating Officer at Janus Henderson Investments.
Robin kicked off our discussion by introducing the intriguing 7-11-4 rule, shedding light on the significance of establishing engagement well before expecting a sale. According to this rule, the journey towards successful online transactions entails seven hours of engagement across 11 distinct touchpoints and four diverse locations. Robin emphasised the critical nature of patiently ticking off these engagement points, advocating for value delivery and relationship-building as precursors to entering the sales cycle.
In a digital era dominated by diverse platforms, Robin highlighted the various touchpoints businesses can leverage to engage their audience effectively. From impactful podcast appearances to strategic book giveaways, Facebook group interactions, and email list outreach, he emphasised the need for a multi-faceted approach to engagement. By diversifying touchpoints, businesses can create a more comprehensive and impactful engagement strategy.
Podcasts stand out as a potent tool for reaching and resonating with an audience. Robin highlighted the impactful nature of podcast appearances, noting that it goes beyond a simple marketing tactic. Engaging in meaningful conversations on podcasts allows businesses to showcase expertise, share valuable insights, and build a personal connection with the audience. Leveraging the auditory medium proves to be an effective means of creating a lasting impression.
Robin's approach to book giveaways as a touchpoint emphasises the power of generosity in engagement. By offering copies of his book, he not only provides value but also invites readers to immerse themselves in his philosophy and methodologies. A tangible resource like a book becomes a gateway to deeper engagement, serving as an extended conversation starter and a lasting reference for the audience.
As social media continues to play a pivotal role in online presence, Robin emphasises the strategic use of Facebook groups. These groups serve as interactive hubs where businesses can directly connect with their audience. By fostering a sense of community, businesses can create a space for meaningful conversations, share exclusive content, and gather valuable feedback. The group dynamic adds a layer of intimacy to the engagement strategy, building relationships beyond the constraints of traditional marketing.
While some might consider email outdated, Robin reinstates its power as a direct and personal touchpoint. Email lists provide businesses with a direct line of communication to their audience. Through targeted outreach, businesses can share personalised content, exclusive offers, and tailored messages, creating a more personalised and intimate connection. The inbox becomes a sacred space where businesses can nurture relationships and keep their audience informed and engaged.
In essence, Robin advocates for businesses to treat these touchpoints not as isolated efforts but as interconnected components of a larger strategy. The synergy created by leveraging podcasts, book giveaways, Facebook groups, and email outreach ensures that the engagement strategy is both robust and holistic. This diversified approach allows businesses to meet their audience where they are, maximising the chances of creating a lasting impact.
Inspired by Simon Sinek's "The Infinite Game," Robin expanded on the concept, steering the conversation toward viewing business as an enduring journey. He underscored that the ultimate goal is not merely to win or lose but to sustainably and profitably stay in business. Business owners were encouraged to embrace long-term thinking, contemplating the consequences of their decisions and designing businesses that provide freedom and flexibility.
Robin's discourse prompts a paradigm shift, challenging the prevalent mindset that often reduces business success to a series of wins and losses. Drawing parallels with sports, where clear boundaries and rules define a winner or loser, he contrasts it with the dynamic nature of business. The essence lies in staying in business for the long haul, with profitability and sustainability as the true markers of success.
Central to the infinite game philosophy is the dual goal of sustaining the business and ensuring profitability. Robin emphasises that merely staying afloat is not the objective. Instead, it's about creating a business that can thrive, adapt, and endure over time. This nuanced perspective encourages entrepreneurs to consider the long-term consequences of their decisions and actions, fostering a mindset that transcends the immediate wins and losses.
A poignant aspect of Robin's discussion is the liberation that comes with designing businesses for longevity. The infinite game perspective extends beyond financial success, urging business owners to envision ventures that offer freedom and flexibility. This shift challenges the notion of mere financial success and introduces the concept of enjoying the journey, revelling in the experience of running a business rather than merely enduring it.
As Robin guides business owners through the lens of the infinite game, practical implications emerge. Decision-making evolves from immediate gains to assessing how choices contribute to the sustained existence and profitability of the business. Whether it's creating systems that operate independently or building a business that retains appeal even without the owner's constant involvement, the infinite game mindset shapes the very fabric of entrepreneurial decisions.
A notable thread in Robin's narrative is the call for patience. In an age where instant gratification often drives business decisions, he urges entrepreneurs to adopt a more patient and thoughtful approach to marketing. The 7-11-4 principle—seven hours of engagement, across eleven touchpoints, and spanning four locations—serves as a testament to the deliberate and patient process of building meaningful connections with an audience.
Challenging conventional pricing norms, Robin urged businesses to articulate the inherent value they provide rather than focusing solely on the product or service. Using examples, he showcased the transformative power of dramatically increasing prices when justified by the corresponding increase in value, attracting higher-quality clients and fostering sustainable growth.
Robin's discourse challenges the age-old tendency of businesses to merely sell what they do rather than focusing on the results and outcomes they deliver. By urging entrepreneurs to articulate the value proposition—the tangible and intangible benefits clients receive—businesses can move beyond a transactional exchange. This shift becomes pivotal in the journey towards setting prices that reflect the actual worth of the value delivered.
A noteworthy concept introduced by Robin is the correlation between pricing and the quality of clients attracted. The traditional belief that lower prices attract more clients is debunked, with Robin presenting a compelling counter-narrative. By significantly increasing prices in tandem with an elevation in the perceived value, businesses can magnetise a higher calibre of clients. This strategic alignment ensures that clients are not just attracted by affordability but are genuinely invested in the premium value offered.
Drawing from personal experiences, Robin passionately discussed the transformative power of influence and partnerships. A standout anecdote highlighted how a podcast interview with a prominent YouTuber resulted in colossal exposure, numerous leads, and substantial revenue. Encouraging businesses to transition from a traditional one-by-one marketing approach, Robin championed the building of influence through meaningful partnerships.
Robin emphasised the crucial role of marketing assets, citing his book as a prime example. These assets, whether books, webinars, or other resources, not only provide value to the audience but also serve as gateways for potential clients to connect with the business. They become invaluable tools during collaborations and partnerships.
In his parting thoughts, Robin championed the concept of fearlessness in business. He encouraged entrepreneurs to confront challenges head-on, emphasising that by fearing less, they can achieve more. This includes proactively seeking creative solutions, confidently asking for what one wants, and taking calculated risks to drive business growth.
Robin Waite's insights form a comprehensive guide for businesses aiming to thrive in today's competitive landscape. From strategic pricing to the transformative power of partnerships, his experiences offer a roadmap for entrepreneurs seeking sustainable growth. By embracing principles of engagement, long-term thinking, and fearlessness, businesses can navigate challenges and set themselves on a path to enduring success. Robin's wisdom provides a beacon for those eager to master the art of business.
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This Scorecard has been designed to show Coaches, Consultants and Freelancers their blind spots and provide instant, actionable steps on how to increase their prices.
