How To Get Your PhD: Part II Metriculating in the business world
By Glenn Dietzel
How do you get a PhD in the business? You enroll in the School of Hard Knocks.
So what should you do to earn your PhD in the business world?
You should do what every successful company has done. Understand the wants and desires of a target market. Remember that people purchase because of a want or desire. In essence, people buy feelings.
Launch a product to fill the want and then get feedback. The important step in this equation is that successful businesses begin to make money with the beta versions of their product or service.
Cash flow is the life blood of every business. Although it is important to have assets, the key to business success is the cash flow you generate each day. To experience cash flow from the beginning, the key here is that your product should not be perfect.
Yes, you read me correctly about your product not being perfect. It shouldn't be. Why is that? you might be asking. Let me give you an example.
Let's use Google, the Internet's number one search engine today. For every Google there are and were many other search engine companies trying to dominate the market place. What is the reason for Google's remarkable success?
Here is what Google did and it goes against the very paradigm espoused by the school system today. Google launched a less than perfect service into the market place. Google would call that beta testing according to a recent interview.
Now here is the catch. What did they do after this? They got feedback! Feedback is the answer to dominating a market. It also makes great business sense.
As Google was continuously upgrading their original beta version, other search engine companies were doing what the educational system programmed them to do. They were trying to perfect a product or service by themselves separate from their target market.
While these companies, many of which have since gone under, were wasting time, energy and money perfecting their "thesis," to use a metaphor from the school system, Google knew that the target market never lies. If the target market likes it they will buy it. So, at the same time asthey were perfecting their service, they were also making money!
So how do you get your PhD in the business world? You clarify where your passion lies and align it with a hungry market. You do a target market analysis around your target market's problems and then create the beta version of your product so that you can get something into the market place.
As you build a client base by marketing to what your target market wants, you begin to make money. Remember that people buy what they want and then justify their purchase afterward rationally.
Seek feedback from your clients and from those who sign up at your website. Use this feedback to create exactly what they are telling you they want more of. This is how you get your PhD in the business world.
And the best part is that anyone can do this. Anyone. As long as you take the time to do your target market analysis and find out what your target market wants.
Remember, as an infopreneur you are paid to solve problems. This means that you must take information and place it into the target market's context. This provides them with the proper attitudes and skills to move forward in life.
For example, authors not only want a system to author quickly and easily, but they want help with sales and marketing. The latter skills sets begin with understanding the attitudes in these domain areas, as well as an exact plan of execution into the market place.
People not only want solutions, but they want to bring meaning to their problems. You must create the ability for people to learn at a personal level so they truly gain the personal and professional development that will provide direction in their lives.
Remember too that people want a start and an end date. Create your products and services with the ability to help people self reflect as they execute the solution to what they want.
Do this over and over again and you will become a guru in your market. And as a by-product, you will earn your PhD!
Glenn Dietzel is currently a vice-principal of an elementary school with the Lambton Kent District School Board. Glenn holds two post graduate degrees in theology and education. He lives with his wife and two young sons in Sarnia, Ontario known as the Bluewater area, and home to beautiful beaches, amazing sunsets, and no hills. http://www.teachersebooks.com