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(STARTUP TO UNICORN) WEEK 5: ECALATING THE RELATIONSHIP TO BUILD INFLUENCE - WILLIAM EASTMAN

2/11/2021

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Today we finish the overview for building an organization that can survival a pandemic, a black swan event. I affectionally call it 'idiot proofing' because major external events are usually driven by bad decisions; you didn't make but everything you built is threatened.

A quick review of the last 3 shows we shared techniques for using Networking as a Business Model. Then we moved to Outsourcing (Alliances) to the network for competencies your business doesn't posses and non-essential to your success. Last week, we covered how to build a scalable platform that encompassed the entire network and pulls these three elements together..


Today is about understanding the Network Effect Model and how to use Outsourcing / Alliances on a common Platform to make it a reality.

EPISODE 17: Pulling It Together
The math of network effect
We need to acknowledge the thought leaders on this subject and our mentors for building IBGR's network - nfx (https://www.nfx.com). We started on this journey without a map until a chance search found the nfx bible - many thanx for guidance.
                       P = I ( F x R x U x V)
                              -------------------
                                     D x N
Topics
  • It's not really a math formula but a relationship model
  • P = Perceived Value - what value does members of the network receive from active membership

Keywords: network effect, perceived value

EPISODE 18: The Numerator
Sorry if we are using terms for everyone that hated math but it fits here. The Numerator is the top part of the problem and describes how many elements we are dealing with. What are all of the elements we must manage and trend in the right direction.

Topics
  • I = Influence is the multiple of... 
    • ​F = Frequency - the amount of interactions between the network and members, and members with members
    • R = Relevant - the value members sought when joining
    • U = Unique - how different is the value (products, services, experience) from the competition
    • V = Value - transactional (1 time) vs transformative (x times)

Keywords: influence, contact frequency, relevance of materials, uniqueness of materials, long term value

EPISODE 19: The Dominator
The Dominator is the bottom part of the problem and describes how many elements we are dividing by. This is used to determine how successful the top elements were treated. Like any fraction we want the numerator to increase and the dominator decrease. Don't get too literal here - go with the flow, it works.

Topics
  • D = Distance - decrease the emotional distance faster than we increase...
  • N = Number (Members)

Keywords: emotional distance, membership

EPISODE 20: What To Measure
These seem like common business metrics and it is except in this case it represents what is critical to understand the value customers perceive is received from our offer and the relationship.

Topics
  • Acquisition - bringing on new members of the network
  • Competitor - benchmark against other networks
  • Engagement - are the interactions frequent and balanced (network initiates and member initiates)
  • Market - share of the total market
  • Financial Performance - ability to monetize the network

Keywords: network metrics, member acquisition, competitor metrics, level of engagement, market share, financial performance

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        • An Epic Business Exit
        • Catalytic Conversation$
        • Exitology
        • The CFO Perspective
        • The Entrepreneur's Edge
        • The Smart & Savvy Business Exit
      • FINANCE >
        • Business Econ for a Post Pandemic World
        • Economics For Owners
        • Employee Capitalism
        • Money Matters
        • Practical Solutions to Difficult Problems
        • TurboCharge Your Business
        • Your Money Machine
      • HR / PEOPLE SKILLS >
        • Business and Beyond
        • Business Processes & People Talk
        • Equipping Others
        • Staff It!
        • Success Can Be Fun - With Focus!
        • The People Side of Business
        • Women of Business Thriving
      • INTERVIEWS >
        • Get You Noticed!
        • The Referral Guy Interviews Your
        • The Magnetic Voice
      • LEADERSHIP >
        • Compassionate Leaders of Influence
        • Destiny Road
        • Engaging Your People For Success
        • Leadershift with Col Ajai Lal
        • Leadership Powered by Common Sense
        • Influencing for Global Impact
        • Talk Leadership with Cedrick on the Radio
        • Your Corporate Confidante
      • MARKETING >
        • Building A Multilevel Marketing Empire
        • Level-Up Your Marketing
        • No Nonsense Market Domination
        • Buying Customers
        • #Seriously Social
        • Results Oriented Marketing
      • MINDSET >
        • Building Success Habits
        • Building You to Build Your Business
        • Entrepreneurial Mindset
        • Peak Impact Mentorship
        • Guidance To Wealth
        • The Hero Within
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        • Survival Mode
        • The Geriatric Entrepreneur
        • Your Business 2.0
        • Z Gen Entrepreneurship
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        • Better Your 4 U
        • Build Your Core for Dynamic Partnerships
        • Grow It!
        • How to Avoid Becoming the 80%
        • How To Become the Top 5%
        • How to Move Beyond the 15%
        • Living the Life .. On YOUR Terms
        • Own It!
        • ReImagine Your Business
        • The Business Owner's Bookshelf
        • The Self Managing Organization
        • Tenacious Top of Mind Business Insights
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      • Ben Gioia ("joya")
      • Bert Robinson
      • Chris Mayfield
      • Crystal Y. Davis
      • Donna Kunde
      • Doug Thorpe
      • Ellen McIlhenny
      • Glenda Thompson
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