How To Crush The Fourth Quarter, Ep 169

10/22/20 • 56 min

Just The Tips, with James P. Friel and Dean Holland

This has been a pretty ugly year for most people, and the temptation to write this year off and start fresh in January is stronger than usual.

Curling up and riding it out is certainly one option, but another one is to put your foot on the gas and crush the fourth quarter.

James and Dean have been on both sides of this mindset. They’ve had years where they slowed things down, and years where they dug in and made December their best month of the year.

If this year hasn’t been your best year, and you’re thinking of curling up and hiding out, tune into this episode for James and Dean’s best tips on making the most of your fourth quarter, no matter what’s happened in your business this year.

Be The Shepherd, Not The Dictator

When Dean and his wife started their cosmetics e-commerce business, they held tight to the idea that they had to do what other cosmetics companies did. As a result, they struggled to even get a foothold, much less a profit. It was only after they stopped trying to dictate their idea to the market, so they could see what they were missing and fix it, that the business took off. Forcing your idea on the market NEVER works. You’ve got to be the shepherd of your idea, steering it where it needs to be based on market feedback.

Instead Of Guessing, Ask

The better you know your market, the better you get at reading between the lines and creating offers they want. But sometimes the fastest way to a profitable offer is just to ask your market. Remember to keep in mind that what people say they want, and what they’ll actually buy, are not always one and the same. But even if that’s the case sometimes, asking still provides invaluable intel on how you can serve your market. It could be that a significant percentage of your customers want help with the same thing, and aren’t sure how to articulate it to you. If you have no idea where to start amping up 4th quarter sales, start by asking your customers what they need.

Develop Relentless Solution Focus

Recently James took a vacation on Lake Powell with a big group of family and friends. Everyone was on a big houseboat with no cell service. During the trip, James received an invitation to extend his trip by a week. The problem was, everyone had carpooled to the lake with some friends who lived hours away, and would not be extending their trip. That meant the only way James and his family could stay an extra week was if they found a rental car, so they could drive themselves to their friends’ house after the second week. James’ first several attempts at procuring a rental car fell through, but James remained relentlessly focused on finding a solution until he found it. Thanks to that relentless focus, he and his family enjoyed an extra week on the lake. Finding the right offer takes the same relentless focus, and so will dominating the 4th quarter.

Stop Predicting Your Own Failure

“I’m just going to write this year off and start fresh in January.” That’s what several people have told James and Dean. That mindset is a symptom of mistaking yourself for a fortune teller, by predicting your own failure before you’ve even tried. It’s worth noting that the people who struggle most are masters at predicting their own failure, and it’s not because they try something and it doesn’t work. It’s because they assume it won’t work, so they don’t even try. Don’t fall into the fortune teller trap. Make your success inevitable by getting your ideas into the world and adopting relentless solution focus.

Be Mindful Of “Reality”

Everyone wants to start with tactics and strategies. They’re important, yes. But even the best tactics and strategies the world has ever known won’t help you if you don’t have the mindset to properly implement them. Mindset is the foundation of your success, and one of the best things you can do for your mindset is to be mindful of what you allow to shape your reality. Those private jet photos you see on Instagram are probably staged in a warehouse. Those supposed loner entrepreneurs with no supportive family in their life don’t have to become YOUR success reality. Be careful what you allow to shape your beliefs about what’s possible.

Outline of This Episode

December, The Biggest Month Of The Year [3:46]
Why You Have To Experiment [8:38]
Avoiding A Race To The Bottom [16:30]
Ask Your Customers What They Want [24:21]
Have Relentless Focus On Finding A Solution [28:40]
You’re Not A Fortune Teller [38:12]
Mindset Before Skillset, Always [43:15]

Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

CEO Quickstart:

This has been a pretty ugly year for most people, and the temptation to write this year off and start fresh in January is stronger than usual.

Curling up and riding it out is certainly one option, but another one is to put your foot on the gas and crush the fourth quarter.

James and Dean have been on both sides of this mindset. They’ve had years where they slowed things down, and years where they dug in and made December their best month of the year.

Be The Shepherd, Not The Dictator

Instead Of Guessing, Ask

Develop Relentless Solution Focus

Stop Predicting Your Own Failure

Be Mindful Of “Reality”

Outline of This Episode

December, The Biggest Month Of The Year [3:46]
Why You Have To Experiment [8:38]
Avoiding A Race To The Bottom [16:30]
Ask Your Customers What They Want [24:21]
Have Relentless Focus On Finding A Solution [28:40]
You’re Not A Fortune Teller [38:12]
Mindset Before Skillset, Always [43:15]

Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

CEO Quickstart:

Previous Episode

How to Identify a Real Opportunity in the Market with Jeremy Parker, Ep 168

Success in business comes to those who can identify and follow through on profitable opportunities. The people who struggle most are both the ones who wouldn’t know an opportunity if it punched them in the face, and the ones who see opportunities everywhere, but struggle to identify and act on the profitable ones. Either they freeze, or they go down so many rabbit holes, they never get traction.

Jeremy Parker, CEO and Co-Founder of promotional product website Swag.com, has been identifying and capitalizing on profitable opportunities for over a decade, including during the Great Recession back in 2007.

Even with the pandemic happening, and companies cutting back on promotional product purchases, Swag.com had its best three months EVER. And it’s all because Jeremy understands how to identify and follow through on profitable opportunities. Tune into this episode to learn from Jeremy how you can do the same, because this is a skill that can ensure you succeed no matter how bad things seem.

The rise of Swag.com

Originally Jeremy wanted to be a filmmaker. But after realizing how difficult it was to make a living doing that, and discovering he wasn’t all that passionate about it, Jeremy started a t-shirt business. It seemed like an easy way to begin. Turns out it wasn’t as easy as he thought, but still, Jeremy was enjoying some success. Then the Great Recession hit, and stores he’d built relationships with stopped buying what he was offering. Instead of folding, Jeremy asked, where’s the opportunity with this? One of his ideas--which he describes “as gimmicky” got noticed by Mark Cuban, which paved the way for the rise of swag.com.

Success during the pandemic

The promotional industry is in shambles right now. Companies are letting people go instead of bringing them on, which means there’s far less need for branded company products. Yet Swag.com just enjoyed its best three months EVER. That is the power of identifying and following through with profitable opportunities. There are always problems that need solving, including some that are still coming down the pipeline. That is and always will be the case, no matter what’s going on in the world.

Beware idea attachment

Marrying your ideas is one of the worst mistakes you can make. Remove your ego from the situation, because it’s not about you. It’s about what the market needs. You cannot make them need or want something they don’t need or want. Get your minimum viable product together and get it into the world quickly. See how the market responds, and adjust accordingly. If the minimum viable product doesn’t get traction, you’ve just saved yourself vast sums of time, money, and energy.

You’ve just got to start

Where you start is rarely where you end up, which is why the most successful entrepreneurs in the world start fast. Another of the worst things you can do is drag out getting started. Whether you succeed or fail, you’ll learn from it. Very often, failing has more to teach us than success. No matter how good you are at identifying opportunities, you will not strike gold every single time. Get your ideas into the world quickly, get feedback, and learn and adapt. It may take several attempts to find your next (or first) big winner. But the only way you’ll ever find it is to just start.

The right way to network

Networking is a proven way to connect with the people and resources you need to grow your business. It’s also something people tend to overthink. Jeremy’s best advice to get the most out of your networking efforts is pretty simple: Put yourself out there. Get your lines in the water and see who bites. The first few people you meet may not be who you need, but they may be connected to the right people for you. Since you can’t know for sure, get as many lines in the water as you can. The more lines you have, the better your chances of getting the right bites.

Remember the mission (and remind your team)

A motivated, effective team can not only help you bring opportunities to life, they can help you identify more. And a team that believes in your company’s mission and vision is proven to perform better at even their day to day role. Reminding your team of your company’s mission is key to strong motivation, especially in tough times. Remember to stoke that fire.

Outline of This Episode

Successful, but not excited about it [5:50]
What not to do when opportunity punches you in the face [10:45]
Why adaptation is key to success [14:02]
Your best shot at avoiding the duds [17:05]
What to do if you struggle to see opportunities [24:30]
Stop waiting for “that one big idea” [27:56]
How to create relationships that create success [31:10]
Motivating your team AND yourself [40:40]

Resources & People Mentioned

Swag.com

Next Episode

Elevate Your Network With Jake Kelfer, Ep 170

Networking is still one of the most powerful ways to grow your business, yet a lot of people go about it the wrong way, or try to skip it altogether. The problem with that is, one person, when it’s the right person, is all it takes to explode your business to the next level.

This week’s guest, Jake Kelfer, has made a wildly successful career working with major brands like Adidas and the Los Angeles Lakers. He’s also helped his clients use networking to achieve the results they want, whether it’s to get booked on more podcasts, bring in experts for a summit, or create partnerships to grow their business to the next level.

In today’s Internet-based world, it’s easier than ever to connect with people. Jake will show you how to use that to your advantage in a way other people appreciate instead of run from.

Tune into this episode to discover exactly why your next level may be less about what’s next, and more about who’s next.

Plus get Jake’s framework for successfully networking with the right people for you and your business.

I Want The Slow Path (Said No One Ever)

Without other people, you cannot have a business. People are who buy your products and services. People are who tell their family, friends, and peers about you. People are also who you learn from. It’s true, you can slowly and tediously make all your own mistakes; or, you can learn from people who’ve already made them, and get where you want to be faster. Networking is another way to avoid the slow path and get where you want to be sooner rather than later.

Turn Your Style Into Opportunity

Successful networking is about connecting with the right people for YOU. Doing that means combining your style with the right intention for reaching out to a specific person. No matter what, you’ll face rejection, but when you combine your style and personality with intention, it saves you a ton of time and energy reaching out to the wrong people. You’ll also dramatically increase the likelihood of connecting with people who are a good fit for you.

Don’t Be Spammy

No one appreciates a total stranger getting in touch only to say, “Hey, here’s what you can do for me!” When reaching out to people for the first time, don’t lead with offers and requests. Instead, play the long game by building the relationship. Care enough to get their name right. Study their profiles and content to find commonalities you can use to relate to them. Everyone wants to feel like they matter, and you can inspire that feeling by taking time to learn about them.

Always Follow Up

Just because someone doesn’t respond to your first contact attempt doesn’t mean they don’t want to connect. It could be they’re busy and they forgot. It could be they aren’t sure if you’re just another spammy drive-by, or if you’re someone who’s actually worth their time and energy. It could be a million other things. Instead of jumping ship if they don’t instantly reply, give them a little time, then follow up. Remember that the point isn’t to be a pest. It’s to open the door so they can take a step through it. Sometimes it takes more than one attempt before they’ll take that first step.

Focus on Quality, Not Quantity

You don’t need a million followers to make a million dollars. You just need the right number of quality followers. It’s the same with networking. You don’t need to connect with everyone on the planet. You just need the right people. One right person will get you further than one hundred people who aren’t right. Sometimes it can take one hundred attempts to find the right people, so it’s important to keep reaching out. Just don’t get hung up on the numbers. Go for quality.

Outline of This Episode

One new connection can change your world [3:05]
The reason for our success [8:55]
Meeting the right people’s not about luck, it’s about this [14:30]
How to reach out (and how not to) [18:15]
Once you build the relationship, maintain it [32:45]
You don’t need quantity when you’ve got quality [38:30]
You can reach ANYBODY [44:00]

Resources & People Mentioned

Visit Jake Kelfer’s website: www.JakeKelfer.com
Connect with Jake Kelfer on Instagram: @jakekelfer
Jake Kelfer on LinkedIn: https://www.linkedin.com/in/jakekelfer
Jake Kelfer on Facebook: https://www.facebook.com/jakekelferjourney

Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel: