As an entrepreneur, knowing your niche early on is essential to have a clear focus on the road where you’re headed. Along the way, you have to identify the most relevant problem, which you must prioritize. Remember, you have to fill a specific gap in the market to draw customers to you naturally. Like any other field, there are processes you must follow and marketing strategies you can use to formulate the most effective solutions for your business problems.
In today’s episode, we’re joined by the master marketing mechanic Chris Goegan. He’s here to discuss how startups and multimillion-dollar companies can break through what’s holding them back and figure out the gaps in their marketing. He also talks about his experiences as an engineer-turned-salesperson and the business lessons he learned from being a long-distance endurance athlete. If you want to improve your business problem-solving skills, make sure you tune in to the episode!
Chris Goegan is a business growth consultant who helps clients grow and scale their businesses using his proprietary methodology called Engineered Marketing. Engineered Marketing is a time-tested and proven way of building the ultimate integrated internet selling machine. Chris has a background as a high-volume manufacturing engineer, sales professional, marketer, and endurance athlete.
How to Identify and Solve Marketing Problems Effectively
How Chris Got Bitten by the Marketing Bug
- Chris started as a mechanical engineer. He worked at manufacturing plants and Ford Motor Company.
- They sent him to the worst areas of the plant to make it better, and they will fire him if he doesn’t.
- His experience as an engineer taught him to find and prioritize the problem in an area that will give the biggest returns when you fix it.
- Chris would put short-term fixes to test and long-term fixes in place to monitor and analyze things. His experience honed his strategy and problem-solving skills.
Identifying the Problem
- In his experience as an engineer, they have some data that offers a general overview of the problem.
- Then he would start peeling the layers back. Through this, he can see where they’re getting the worst efficiencies and understand how each part is made.
- If you keep things upstream, it’s going to help you think about downstream.
- Prioritize the biggest one among multiple problems and work on those first. Then keep going down the list and solve the rest.
The Marketing Process
- As both an engineer and a marketer, Chris learned that the principles are the same, although the steps are different.
- It doesn’t matter which marketing strategy you have; the principles remain the same for all of them.
Fixing the Problem
- Usually, the problems aren’t at the place where you’re looking—it’s often somewhere else.
- On fixing the problem and reporting: put a temporary fix first and then collect data, which you can use to create a permanent solution.
- Make sure it gives you the return you wanted before investing money in new equipment and systems.
- The numbers always say something. You can find solutions by watching the data and seeing trends and patterns develop.
- The problem is most business owners are so busy trying to be successful that they don’t have time for due diligence and monitoring.
Tracking and Measuring
- The key element: dashboard monitoring.
- If there’s no dashboard, look at site analytics. Look at how many people are opting in.
- Focus on one or two new products instead of trying to do everything at once.
- Habit stacking: If you can’t measure all things at once, develop a baseline to gain momentum and get moving.
Overcoming Career Challenges
- The biggest challenge Chris had was coming to terms with the false belief of the self-made man.
- In engineering, you have data and numbers, and you focus on understanding how things work. In sales, you master the understanding of why people buy.
- If you combine these experiences, Chris says it can give you a false sense of self—and building ego.
- With this false sense of self, he realized he was trying to be someone he wasn’t meant to be.
- He has come to terms that it’s not about personal greatness; it’s about helping and serving other people.
Advice for People Who Are Starting Out
- Get help. Don’t do it on your own.
- Be wise and take calculated risks. Wisdom is the most valuable thing.
- The two types of wisdom: the wisdom you get from trying and failing on your own and wisdom from other people who have the experience.
- No two situations are identical. Chris encourages struggling entrepreneurs to gain perspective.
- The biggest advice Chris has is to listen to his wife. He’s able to take himself out of the picture and be much wiser about things.
Habits for Success
- Be disciplined. Do something on a regular basis, whether you feel like it or not.
- The key things: studying, learning, discipline, working on your priorities, and analyzing your results.
- When you work on the boring stuff, fast forward a year or two from now, and you’ll realize that you have outpaced the people who are always about shiny objects.
- Proverbs 3:5-6: Trust in the Lord with all your heart and lean not on your own understanding. Acknowledge him in all you do, and he will direct your path.
Acknowledging Your Skills
- Just because someone’s good at what they’re doing, it doesn’t make them better. They’re only more skilled in that area.
- Skills are fostered and grown. Everybody has a different set of skills and niche.
- The Goal: A Process of Ongoing Improvement by Eliyahu M. Goldratt
- Leukemia & Lymphoma Society
- Why People Buy: Achieving the Selling by Guy Baker
- The Little Mouse, the Red Ripe Strawberry, and the Big Hungry Bear by Don Wood
- Sell Little Red Hen! Sell! By Jeffrey Hansler
- Og Mandino’s Books