Who Knows What You Know?

Dear Voornaam,

A few years ago, I was waiting in line for a ride at Walt Disney World, and a man came up to me and asked if he could take a photo with me. He was an attorney who saw me speak at a conference and purchased one of my books. He also attended a few of my webinars. I was flattered and chatted with the attorney for a few minutes.Â

Later that month, the attorney called me and became a client.Â

Does this often happen in public places? No. But does it happen at conferences of professionals? Yes. All the time.Â

During the past 30 years, I've had a few clients who worked hard to get on television. One became an active contributor on all things legal on cable television, and the other has hosted a local show for a few years.

The dirty little secret about this type of fame is that it RARELY results in new clients. The television appearances enhance credibility and increase your visibility, but the majority of people who are your ideal clients are NOT watching these shows.

People who commit street crimes don't get their lawyers from cable news. The CEO needing a valuation on her company before she sells it doesn't hire an accounting firm she discovers on CNBC. The high-net-worth couple doesn't buy their vacation home from the realtor they watch on the show "Flip or Flop."

That type of fame, the generic type, only inflates your ego.

I am referring to fame within a market niche or an industry. Here are a few examples:

My client Jeff Newcorn handles employee tax credits. This includes COVID retention credits. He gets companies tax rebates from the federal government. Instead of advertising for everyone, he has chosen to focus on McDonalds' Franchise owners. While he will work with anyone who needs his help, he regularly is referred from one McDonalds owner to another because he understands their business and speaks their language.Â

Steve Klitzner is my client who handles IRS issues. Steve is an attorney, but CPAs try to help people when the IRS comes after them. Steve speaks at CPA gatherings and tells the accountants that he is their "go-to" person for any IRS tax appeals. In other words, if the CPA messes up the case with the IRS, Steve may be able to bail them out at the appellate level.Â

My practice is another example. I focus my business development efforts on professionals - attorneys, CPAs, Finance, and Real Estate professionals. I speak at their events. I write and publish in industry publications and network almost exclusively within this community.Â

The smaller the audience, the easier it is to become famous in the niche.

Why do you want this?

Enhanced visibility:Â People can't hire you if they don't know you exist. You've got to become visible to your prospective clients and referral sources.

Credibility:Â People ascribe credibility to fame. You must be good if you are the employee tax credit person most Mcdonalds owners use.Â

Differentiation:Â You need a way to differentiate yourself. Fame in a narrow niche is excellent for that purpose.

Here is your call to action from this week's newsletter: Think of an audience that is perfect for you and your business. This can be an audience of referral sources or an audience of prospective clients. Figure out how you can take a position of prominence for that audience. Become famous to them.

If you need any ideas, give me a call.

Â

Warm regards,

Dave Lorenzo

The Godfather of Growth

Dave Lorenzo earned the nickname The Godfather of Growth because he helps people make offers their clients can't refuse. Also, he does favors. Those favors help you make a great living and live a great life. Call him now: (786) 436-1986