6 Lessons I Learned From Seth Godin at SmartHustle Conference

Ramon Ray gathered together a bevy of high calibre presenters with such wisdom to share, not only on business, but on life, and how to integrate both.They made us think, they made us laugh, they even made us cry.I learned a lot. I was inspired a lot.Here are some of the take aways, nuggets, and little “secrets” that I thought I would share, to inspire you on your business/life path.What I learned from Seth GodinSeth Godin’s mastermind session was not disappointing. He is a marketing genius.He has a deep understanding of the human psyche which is a winning formula for successful marketing.I asked him the question: To Niche Or Not To Niche?His answer:
- Yes. It’s very important to focus on a niche market as opposed to a broad market or industry.
- No, there is no conflict. The smallest viable market is the biggest insight any company can have.
- Become meaningful specific, not a wandering generality. Play to your minimum viable audience.
- Specialists get the critical mass.
- Get very specific: “We specialize in THIS only”
- The goal is not to be famous to everyone. You cannot be this, it’s to be famous to the family, to the circle.
- Find the smallest viable group of people who will listen to you and solve their problems. Smaller niche is always bigger.

Seth on Hustle:
- There are two different types of Hustle: one that uses people and will eventually get you burned.
- The other is reputable and respectable Hustle which revolves around generosity and connection.Seth on Choosing the Right Clients:
- Pick your clients!
- Fire the ones that are wasting your time and effort because they not pushing you to do great work.
- If you can make that commitment, then six months from now your client list will look different, you will not be working more hours, you will be making more money but more importantly you will be making a bigger difference.Seth says, he knows it’s hard to do, but every time he has done this in his career – he was glad he did it!Seth on The Value of Video to Support Sales and Marketing:
- Given the choice, very few people will read if they can watch video instead.
- The hierarchy of attention is: SMS, email, video, and far at the bottom… reading.
- It has never been easier to make video than it is today.
- Making mediocre video is super easy.
- It doesn’t seem like a short cut, but paying too much to make good video is a short cut! Make it work, either way.

On Creating Tension:
- How do you sell something to someone who hasn’t bought it before? Create TENSION.
- Tension always accompanies forward motion.
- There is always someone cheaper than you, more experienced than you.
- But if you are causing a small dent in the universe, pushing against someone’s experience as the status quo, then they will pick you.
- Create that tension of making people realize there is a problem for which you are the solution.On Creating Scarcity:
- If there’s no scarcity, customers will pick the cheapest or closest option.
- Create SCARCITY to create VALUE.The conference was truly inspirational on many levels. I hope you can use some or all of these takeaways in your marketing to make you stand out and be truly effective!

Are Inventory Financing Lenders and P O Factoring Solutions Your Best Business Financing Bet?

Your worst business nightmare has just come true – you got the order and contract! Now what though? How can Canadian business survive financing adversity when your firm is unable to traditionally finance large new orders and ongoing growth?

The answer is P O factoring and the ability to access inventory financing lenders when you need them! Let’s look at real world examples of how our clients achieve business financing success, getting the type of financing need to acquire new orders and the products to fulfill them.

Here’s your best solution – call your banker and let him know you need immediate bulge financing that quadruples your current financing requirements, because you have to satisfy new large orders. Ok… we’ll give you time to pick yourself up off the chair and stop laughing.

Seriously though…we all know that the majority of small and medium sized corporations in Canada can’t access the business credit they need to solve the dilemma of acquiring and financing inventory to fulfill customer demand.

So is all lost – definitely not. You can access purchase order financing through independent finance firms in Canada – you just need to get some assistance in navigating the minefield of whom, how, where, and when.

Large new orders challenge your ability to satisfy them based on how your company is financed. That’s why P O factoring is a probably solution. It’s a transaction solution that can be one time or ongoing, allowing you to finance purchase orders for large or sudden sales opportunities. Funds are used to finance the cost of buying or manufacturing inventory until you can generate product and invoice your clients.

Are inventory financing lenders the perfect solution for every firm. No financing ever is, but more often than not it will get you the cash flow and working capital you need.

P O factoring is a very stand alone and defined process. Let’s examine how it works and how you can take advantage of it.

The key aspects of such a financing are a clean defined purchase order from your customer who must be a credit worthy type customer. P O Factoring can be done with your Canadian customers, U.S. customers, or foreign customers.

PO financing has your supplier being paid in advance for the product you need. The inventory and receivable that comes out of that transaction are collateralized by the finance firm. When your invoice is generated the invoice is financed, thereby clearing the transaction. So you have essentially had your inventory paid for, billed your product, and when your customer pays, the transaction is closed.

P O factoring and inventory financing in Canada is a more expensive form of financing. You need to demonstrate that you have solid gross margins that will absorb an additional 2-3% per month of financing cost. If your cost structure allows you to do that and you have good marketable product and good orders you’re a perfect candidate for p o factoring from inventory financing lenders in Canada.

Don’t want to navigate that maze by yourself? Speak to a trusted, credible and experienced Canadian business financing advisor who can ensure you maximize the benefits of this growing and more popular business credit financing model.