2 Outstanding Business Books | Podcast

In this episode of the Million Dollar Playbook, Sharran shares two outstanding business books that you’ve probably never heard of – Exponential Organizations and Buyer Personas. In addition to sharing a brief summary of each book, Sharran will also highlight the key lessons we can put into use TODAY. If you’re ready to find out how you can turn your business into an ‘Exponential Organization’ and identify your ideal ‘buyer persona’ this is the episode for you!

3 Key Points

  1. Businesses that are scalable in this day and age are the ones without restrictive assets.
  2. The value of marketing isn’t in how well you market yourself, it’s about how well you KNOW your customers.
  3. Remember that the best marketing happens when you pair together the timeliness of mass media propaganda with the right market persona.

https://soundcloud.com/telesproperties/2-outstanding-business-books-sharran-srivatsaa-million-dollar-playbook?in=telesproperties/sets/milliondollarplaybook

Show Notes

  • 00:25 – “Readers are leaders and leaders are readers”
  • 00:30 – Today’s topic is about 2 outstanding business books you’ve never heard of
  • 01:03 – First book – Exponential Organizations by Salim Ismail
    • 01:21 – “An exponential organization is one whose impact (or output) is disproportionately large — at least 10 times larger — than its peers because of the use of new organizational techniques that leverage accelerating technologies”
    • 02:23 – EVERYTHING is digital—as Sharran calls it “Culture in the Cloud”
    • 02:54 – There is a human component to culture
    • 03:47 – The effects of digitization have caused entire industries to really take a hard look at their business model
    • 04:38 – Almost all of Teles Properties’ transactions are paperless
  • 05:17 – If clients are connecting with the digital world to interact, a big portion of our focus should be on this digital exchange
  • 05:51 – Sharran’s Takeaways from Exponential Organizations
    • 05:57 – The digital revolution is just the tip of the iceberg
    • 06:19 – Every company will evolve into an information-based entity
    • 06:32 – Exponential organizations of today will thrive on abundance and not scarcity
    • 07:15 – Exponential organizations grow quickly because they have very little restrictive infrastructure
    • 09:12 – The technology risk for an information-based startup is minimal
    • 09:26 – Exponential organizations borrow or lease assets at little to no cost
    • 11:54 – As leaders, you have to take responsibility for transforming your organizations into exponential organizations
  • 13:37 – Second Book – Buyer Personas by Adele Revella
    • 13:56 – “Giving buyers the clearly articulated information they seek, in the language they understand, when and where they need it, is the essence of effective marketing”
  • 14:23 – The real estate industry is egotistical in the branding they put out
    • 15:04 – If you’re marketing yourself, don’t expect any return from it
  • 15:38 – “There’s a big gap between strategy and reality”
  • 16:30 – Sharran shares topics he enjoyed from the book:
    • 16:34 – How to construct a buyer persona?
      • 16:44 – Buyer persona in real estate is a client profile
    • 17:10 – What strategies will help you identify these personas?
    • 17:18 – What steps can you make to tailor your marketing to each of these personas/profiles?
  • 18:15 – “Marketing has changed”
  • 18:48 – Today’s customers complete more than 60% – 70% of their purchase evaluation online
  • 19:03 – The online discovery content of who we are and our messaging is very important
  • 20:00 – Sharran’s Takeaways for Buyer Personas
    • 20:13 – The typical demographic-based buyer profiles are NOT good enough
    • 20:39 – These buyer personas provide very rich insights into your consumers
    • 20:53 – A persona is a portrait of a group of similar buyers
      • 21:06 – Sharran shares an example using expired listings
        • 22:32 – Sharran interviewed a group of nine clients who had expired listings
        • 22:40 – The clients were so upset they got material that said, “We’ve succeeded where they have failed” because it implied they made wrong decisions
        • 24:12 – Today, only companies who are tuned-in with their clients will thrive
        • 25:07 – Clients are being blasted with mass media advertising or propaganda messaging that tells them how to think about the world
      • 26:08 – The best marketing happens when two pieces of information come together:
        • 26:13 – Understanding the timeliness of mass media propaganda
        • 26:22 – Understanding who these clients are
      • 27:42 – The active sales efforts should be separated from building these personas
      • 29:12 – The more sophisticated or high-end the buyer, the lesser he or she knows about the details behind the purchasing decision
    • 32:11 – Again, the 2 books to read are Exponential Organizations and Buyer Personas
    • 32:35 – End of today’s podcast

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Show Notes provided by Mallard Creatives

 

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