Iceberg Analogy
Although you’ve most likely never seen an iceberg, you probably know a little about them.
So what does an iceberg have to do with business growth?
Everything.
When you’re looking at this picture of the iceberg there are many things you can see. One of the first things you’ll notice is the amount of the iceberg that is above the water line and how much is below water. This is one of the unique features of the iceberg.
This unique attribute can also be representative of business opportunities for you.
Let us explain.
Above The Waterline:
This is the visible part of the iceberg. In almost every business there are issues and items that clients and prospects will share. This is the part of the iceberg that you can see. It’s the ‘above the waterline’ portion.
This part of the iceberg is information that clients willingly share with you. This information is more general. It might be for example - how long their company has been in business, how the company is structured, number of employees, who are their target markets and their other office locations. It’s important information, however, it’s not your customers or prospects sensitive business information. It’s not their vital information.
This key information is hidden.
This information is ‘below the waterline.’
Below The Waterline:
This is the largest part of the iceberg. Some say as much as 80% of the iceberg is below the waterline.
Below the waterline is where all your potential clients critical information is held. This is their vital information. These are their issues, challenges and frustrations.
These are the items that traditionally slow your customers’ growth. These issues may create internal inefficiencies. These challenges may hurt their revenue growth. These are areas that causes businesses to lose money. This area could also send the company into bankruptcy.
Understanding your customers ‘below the waterline’ issues and frustrations is where you want to aspire to in all of your opportunities. This is where you’ll get your biggest payoffs and your biggest rewards.
If you can enter your clients’ world and get below the waterline, you’ll be vastly ahead of your competitors.
Most individuals when they are trying to grow their business don’t really care about their customers issues. They only care about getting the order. Signing the client up.
Most of them simply want to sell their customers their product or service. As a result, they stay ‘above the waterline’ in their client relationships and opportunities.
This is a big mistake.
Getting Below The Waterline:
Entering the world of your potential customers and getting below the waterline is not easy. Icebergs are immense obstacles. They are complicated. Your clients will not easily share their information. They will not reveal those sensitive business issues. They don’t easily trust anyone.
To get into that privileged area it will require you to learn or enhance one very important skill.
Your ability to ask questions.
The Power Of Questions:
Asking questions and understanding their power is a learned skill. These vital skills are not learned overnight. They take time to learn. They take time to understand and embrace. You have to practice them. You also need first hand feedback on your questioning ability and style.
You’ll need to learn for example, how to ask better questions and when to ask them. You’ll have to learn how impact questions can help you gain entry into their world. You’ll need to build your comfort and confidence level in asking questions.
Growing Your Business:
In our training and coaching, we spend a lot of time on this vital skill. When we help our clients develop this skill, it makes a significance difference. It builds their client list. It enhances their confidence. It builds their revenues.
The Iceberg:
Use this iceberg analogy to help you to grow your business. Next time you’re in contact with potential new customers, as well as, existing customers map out their ‘below the waterline’ issues. Think about their frustrations. Take some time to design powerful, insightful and thought provoking questions to enter your customers world.
If this concept seems a little challenging for you or your team, we can help.
We’re continuously teaching and reinforcing this business growth idea. We’re helping them learn and embrace this powerful concept.
It’s made a significant difference for our clients. It helped our clients achieve greater results. It can help you as well. If you want to learn more about this concept, contact us. We’ll help you get greater results as well.