238 - Care Differently with Jeff Peterson

What does Care Differently mean? If you want your business to be different, you've got to care about your clients differently, and giving them a discount does not mean you care; it only means you're trying to be cheaper than your competitor down the street. If you put your client's needs first, the rest of your business will fall into place naturally. My guest, Jeff Peterson, is the owner of Interstate Music in Wisconsin, USA, an online music business with a Musician's First Mindset. Jeff's marketing strategy with Interstate Music is mind-blowing and utterly different from how marketing is usually done in the music industry. It is pure genius, which is why he won the top honours at the Wisconsin Small Business Awards. I've always said you should learn from what others are doing in different industries and ask yourself, how can I apply that in my business? In this episode, Jeff and I discuss the following: The power of storytelling and how it can emotionally connect with the receiver. Human nature is about connectively. You either connect or don't connect with people, which can make everything or break everything in business relationships. What makes a person think they are good enough in their career to lead the charge to be an expert in their industry? Don't die with the music (or knowledge) still in you. The benefits of sharing what you know with others. You don't have to have all the answers. Business didn't come naturally; it was something I had to learn. When your business gets bigger, people will take potshots at you. What Jeff learnt taking over a business that went into bankruptcy and the importance of understanding the numbers of a business. Hire Good People When you're looking for people to join your Team, you should hire good people, not good resumes. They either have it or they don't. If they don't, they're not for you. Care Differently You've always got to consider what your customers want and need and whether you can provide it. You cannot keep being the same as everyone else and expect a different result, and simply saying you care more or giving discounts to beat your competitors does not mean you do.   You need to show them you care more with your consistent actions. You must find out what truly matters to your customers and deliver on that. At Interstate Music, they developed a Musician's First Mindset; they take what they do for a living and help them develop it further. They help them create content (video, photos, etc.) and work with them to develop their exposure in the industry. By building authentic relationships with Musicians, Jeff and his Team at Interstate Music are building long-term trusting relationships within the music industry. If musicians buy their equipment from Interstate Music in the future…well, that's a bonus. Do you have a Client First Mindset or are you focused on your needs?  Slow Bleed & Loss of Energy If you focus too long on your competition and not on your own business, it is a death spiral and slow bleed for your business, especially if they are not spending time thinking about you. Be aware of your competitors, and pay attention, but don't become obsessed.  Everyone gets into business for a reason, and there will always be some form of energy behind them making this decision. Don't waste your energy worrying about what everyone else is doing. If you do, you won't have the energy to work on your own business. Social Media Don't use social media platforms just because someone else is doing it. Ask yourself, will this platform work for my business? Are my ideal clients using this platform? If they are, work on a long-term strategy to make it work for you, don't just follow what everyone else is doing. The Power of Marketing When we recorded this podcast (and YouTube video), Jeff and I were drinking a can of Liquid Death, which is just a can of water. There's no screw top lid, which makes it slightly impractical and not very portable, but it is cool, and they have marketed it exceptionally well. Their tagline is 'Murder Your Thirst'. Jeff and I agreed you don't have to do something new, but you need to market it better or differently. How can you apply this idea to your podiatry business? What can I do to charge a premium in my podiatry business? Adapt Over Time You should be evolving and adapting your business over time. You should be updating how you do things. You should always be looking for a different perspective. Staying the same while others are moving forward means you are falling behind. You don't do this just for your patients; you're also doing this for your Team. They need to know they are in a progressive business.   Your Team needs to buy into your vision for the future. Learn & Share If you make a mistake or do something wrong, you've got to be able to work out why it was wrong and learn from it, and when you learn something new, share it with those that will listen.  Don't keep it as the best-kept secret. If you have any questions about this episode, please email me at [email protected].  Business Coaching  Are you looking for a Podiatry Business Coach who thinks differently? If you are, please reach out via email and let's have a chat to see if we're a good fit for each other. Alternatively, you can schedule a 30-minute appointment directly into my calendar by following this link - https://calendly.com/tysonfranklin/podmeeting30 YouTube Are you SUBSCRIBED to my YouTube Channel, Tyson E Franklin - Podiatry Business Coach? YouTube is where I upload all the uncut videos from my podcasts and other short business tip videos.  Podiatry Business Owners Club Please visit my group, the Podiatry Business Owners Club, on Facebook if you want to connect with like-minded podiatrists who enjoy business.  12-Week Podiatry Business Reboot Have you done the 12-Week Podiatry Business Reboot? It will change the way you think about your podiatry business.