E272 - If you’re interested in growing your business, start networking with others | with Nathalie Dorémieux
Episode 272 •
4th October 2022 • The One Big Tip Podcast with Jeff Mendelson • Everyone has that One Big Tip!
Nathalie Dorémieux is the founder of searchdido.com, a company that helps content creators gain visibility within their niche. Nathalie coaches business owners on the power of networking. Networking is building relationships and offering something of value to like-minded people. Today, Nathalie works with mid-career entrepreneurs looking to scale their businesses through coaching, subscriptions, or one-off access programs. Nathalie’s One Big Tip is to attract the attention of potential clients through networking and sharing value.
When you’re ready to begin networking to attract clients, Nathalie recommends using Facebook or Linkedin groups. Over the years, she has found those to be a great platform to get together with like-minded people and exchange ideas. That is the heart of the strategy for creating relationships and building a clientele for your business without being salesy or pushy. In groups on social media, people can show support to others, ask questions and have conversations about topics with individuals who are genuinely interested in what they have to offer. That is the power of networking and how to grow your business organically.
Nathalie created a three-part framework for entrepreneurs so they can create coaching programs or subscription-based services. The first part of the framework sets the foundation for what you will offer in your business. When you create an offer, you need to have a clear vision of who your customer is and what their pain points are. It’s best to create a recurring solution that alleviates a recurring pain point that way you maximize your service. Many of Nathalie’s clients create coaching programs, frequent subscription services, or membership groups.
The second step is providing support through your program that directly helps or alleviates your target audience's pain points. You need to make it apparent to your target audience that your program or offer can somehow transform their lives; that you can alleviate their fears and ease their anxiety. The third step is accountability. You need to implement that into the structure of your program. When people sign up for a program, they are looking for someone who cares and will take an interest in them. You need to create a process that keeps them accountable for whatever commitments they make. That shows that you are interested in their success and helps bring about the desired results.
Then you need to determine your costs, how much your client acquisition costs and how much will you charge for your service. The general rule of thumb in the industry is that people are invested in what they invest in. If people pay for a service, a membership, or a course, they are more likely to use it or continue until completion. As the business owner, you need to determine your pricing structure. How do you know how to price your offer or service? When you first launch, you look at sales and see if there’s friction, friction is a conflict between the value of what you are selling and the cost for that value. Typically, if there is no pushback on the price, you can charge more for what you offer. Sometimes the more expensive something is, the more people value it. Once you’ve figured out all the moving parts that go into creating your offer, you’re ready to begin the sales cycle. Always remember that the process beings with client acquisition and the best way to do that are through networking.
In most industries, when you are paid by the hour, the better you are, the less income you earn. This is counterintuitive but true. Pamela believes the rules of the game need to change. You should no longer be compensated for your service based on time. Instead, people in mid-career should be compensated for the value they bring to those they serve. The first step in Pamela’s training program is that you need a mindset shift. You should measure your value based on the performance, expertise, and efficiency you bring to the table.
In This Episode:
[2:25] Nathalie shares her background
Don’t be afraid to shift gears
Entrepreneurs are constantly learning and gaining new skills
[6:45] There is no such thing as being prepared for the future
You need to be open to possibilities & build your life for the way you want it
The power of reverse engineering gives you a roadmap to achieve your goals
Decide what you honestly want in life, map it out and then create it
[11:50] Nathalie realized the power of networking when she signed up for a course during Covid
If you’re an introvert it’s very difficult to talk with other people
Learn what your comfort level is and go with it
[14:22] Everyone needs something
People are attracted to people who offer value
Know what you’re good at
[18:49] Know how to leverage your expertise
Offer your knowledge and value to others
Create a means of holding people accountable, so they stay committed