What could UGG, Tesla, and cronuts (yes, the pastry) possibly have in common? This week, I sit down with author and speaker Mike Michalowicz to talk about the marketing strategies that make these products and services highly sought-after.
In his new book Surge: Time the Marketplace, Ride the Wave of Consumer Demand, and Become Your Industry’s Big Kahuna, Mike walks through a five-step process that small businesses can use to capitalize on opportunities in the marketplace. Because positioning yourself at the right time is the key to this process, even an inferior product can be very successful at the right moment.
Throughout the interview, we really hammer home the importance of identifying a niche of people whose needs aren’t being met. Mike tells us how to spot an imminent wave of consumer demand and how to protect early adopters from the resistance they’ll face from their peers, who are only familiar with more traditional products and services. If you can get through the first four stages of SURGE, you’re well on your way to the fifth — expansion.
Mike is the brains behind three multi-million dollar companies, all built before the age of thirty five. He is also the author of several books on entrepreneurship: Profit First, The Pumpkin Plan, and The Toilet Paper Entrepreneur (which was dubbed an entrepreneur cult-classic by BusinessWeek).
Mike formerly wrote a small business column for The Wall Street Journal, and was once the business makeover specialist featured on MSNBC. Today, he travels the world as an entrepreneurial advocate, sharing his knowledge with budding and experienced entrepreneurs alike. He is recognized around the world as the man who challenges outdated business beliefs and teaches others how to overcome them.
Don’t miss the chance to hear from Mike about how to make a sustainable business within a niche; this episode is a goldmine of clever and simple marketing practices that can elevate your next venture.
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On Today’s Episode We’ll Learn:
- Why you need to be discerning about which opportunities — or “waves” — you pursue.
- How to use niche marketing to identify and meet the needs of a core group of people.
- How and why to distinguish between an imminent wave and a future trend.
- Why micro-niches are a great opportunity for small businesses.
- How good timing is often more important than a better product.
- Connect with Mike: www.MikeMichalowicz.com
- Amazon: Surge: Time the Marketplace, Ride the Wave of Consumer Demand, and Become Your Industry’s Big Kahuna
- Kindle: Surge: Time the Marketplace, Ride the Wave of Consumer Demand, and Become Your Industry’s Big Kahuna
- Audible: Surge: Time the Marketplace, Ride the Wave of Consumer Demand, and Become Your Industry’s Big Kahuna
- Mike’s Other Books:
- Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine
- The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field
- The Toilet Paper Entrepreneur: The tell-it-like-it-is guide to cleaning up in business, even if you are at the end of your roll.
- ProfitFirst Professionals: Membership Program
- Becky Blanton: The Year I Was Homeless
- Ryan Smith: UGG
- Dominique Ansel: Cronut101
- Tesla Motors
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