Obviously it depends on the idea. But I will give you one good example. And it is wrapped up in a story. You can judge for yourself what it, or something very much like it, could be worth to you and your business.
Several years ago I had a business relationship with one of the best known marketing strategists in the world. We had been working on something for some considerable period of time, when a dramatic change in the external environment convinced us that we needed a course correction. He was then in the middle of producing a several day seminar/workshop for a selected number of his business owner clients.
This was something that he usually did once or twice each year, although he had not been quite as diligent in the previous 18 months. And attendees from his client list were self selecting based on their willingness to pay between $5,000 and $20,000 for events lasting from two days to five days.
He insisted that I attend as his guest. Each day began quite early, and meals were included, so everyone was a breakfast. In fact the hotel hosting the event provided a special dining room for the exclusive use of seminar attendees. Determined to use my time as productively as possible, I made a point of sitting with different people for each meal. The mealtime conversations were interesting and wide ranging.
About half the mealtime conversation focused on lessons learned so far from the excellent presenters, and from other seminar participants. With particular emphasis on whether and how a particular concept would apply to the businesses owned by the various attendees. The rest of the time was spent on the normal conversation that forms part of most meals, where several people are seated together.
I found it all quite fascinating. During this time it was easy to ask people whether this was their first of such events, or whether they were repeat attendees. What seemed to me then to be an amazing number had attended more than one such event previously. Sort of repeat offenders. It was also both fascinating and instructive to learn what each attendee had learned to that point, And how he planned to apply it to his own business upon his return.
The numbers of different industries represented was surprisingly large. And not surprising in a gathering like this, there were types of businesses that I didn't even know existed. So I made a point of determining the business that each of my table mates was involved in.
One particularly enthusiastic fellow revealed that he was seeking a new business opportunity. He believed that being with this group would provide him with some new ideas on what he might do. He was a repeat attendee, and expressed almost unqualified enthusiasm for previous events.
Seeking to uncover the nature of the qualification he placed on his enthusiasm, I pursued the subject energetically. It seemed that the root of his slight hesitation resulted from the fact that he got too many ideas, rather than too few. So he didn't really feel shortchanged or cheated. The fact that there was a repetitive nature to some of the content in each event didn't seem to bother him. Rather than subject himself to any more of my questioning, he opted to tell me his story.
He had recently sold his business. As he was preparing his business for sale, something that took him some considerable time, he attended one of these events. He decided to implement one of the ideas that he took home with him, in order to increase the value of the business. The idea implemented increased revenue and profit, and made the business easier to operate. Making it appeal to a wider audience.
He stated that implementing this single concept added over $600,000 to the value of his business. When I observed that an extra $600,000 paid for a lot of these kinds of events he agreed. Then I finally learned what had slightly dampened his enthusiasm. Apparently he had actually identified three actionable concepts for his business at the event in question. But only implemented one of them. He could never stop wondering how much more his business could have sold for had he implemented all three.
I don't know whether his glass was half full or half empty. But I have never before had first hand experience with someone so able to correctly identify what a single good idea was worth to him. All he had to do was implement it.
What about you? When the time comes for you to sell your business, do you know where to go for good ideas that will aid in selling it? Claim your copy of a free report that will provide you with good initial ideas, and direct you to where you can acquire one or more of these virtually priceless ideas. Download your own copy of this free report now by visiting /freereport.html with my compliments.
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