Transcript (00:04): Before you misunderstand this, I want to make a distinction. This is not just about creating micro offers or entry level products. It is about understanding demand. We started by saying performance is not always equal to achievement. The missing link is stakeholder resonance. The reason is that we fail to understand our stakeholders. Let's put demand into perspective. There are four kinds of demands as individuals or businesses in a generic sense. There is a demand for growth, which is to reach our ultimate goals. There is a demand for progress, which is to make progress towards those goals. There's a demand for security, which is a basic demand to survive or sustain, and there's a demand for efficiency, which is to get more done. Top level need or demand for everyone is growth or status, life or business. We all constantly wanting more. The fundamental need is a need for security or safety or survival, psychological or physical, again, applicable to business or to life. (01:06) From security, we want to make more progress. We want to see results. Progress really is what we strive for and related to progress is efficiency, better use of our resources, better use of time, money, people, whatever we have. How can we get more out of what we have? We, the people in love with superior performance position ourselves to contribute to the highest reward, which is growth. And this is what a majority of us try to do, is to pitch in for the highest possible reward or the highest possible difference that we can make, which is to contribute to growth of lives or growth of businesses. There's nothing wrong with this. Why should we not be of utmost value? Highest demand though, has the highest skepticism. There's the highest demand for growth. It's the highest play possible, but it also has highest skepticism because it has the largest number of people pitching it, and they have all sorts of stories for doing so. (02:02) You can check it out. If you're in the market for health, you'll be pitched a perfect body. If you're in the market for courses, people will tell you they'll help you make a million dollars in about a month. If you're being pitched for marketing, people will give you hot leads tomorrow morning. The job portals will tell you, we have the best companies waiting for you to step in and assume your dream job. If you're in the market for life advice, you will get pitched breakthroughs. If you're in the market for business sell, people will tell you they'll turn around the business for you tomorrow morning because they've done it for 10,000 people. If you're in the market for a home loan, people will show you how to buy a mansion. If you're in the market for a holiday, people will send you to a dream destination. (02:40) And if you're in the market just for simple cred dance, there are people pitching honorary PhDs as well that you can grab tomorrow morning without having to lift a finger or write to thesis, right? Aren't you skeptical yourself about any of this, whether it's health courses, marketing jobs, c holiday, home loans, business help? When you hear pictures like this, aren't you skeptical yourself about this? And that's the thing about the highest play that it has the highest level of skepticism as well. These might be the goals that people and businesses have, but they aren't demands, and that's a distinction that you have to get it really inside your mind that these are the goals. People want to reach these destinations, but they don't have demands as such from people who are experts in these areas. But because we don't know the demands or because we don't know the actual current and immediate needs that were there as enough framework in the last session, we tend to pitch insanity. (03:36) Let's take some examples and see a subtle difference. We have put in here the same categories and divided it into growth, progress, efficiency, and security. Now, let's take one or two examples. Let's say you were pitching health. Now the growth kind of explosion in the market tends to be a pitch for a perfect body, but the progress kind of a pitch would be that I can help you lose one kilogram or one pound a week. The efficiency could be that I can help you stay free from disease and the security would be that I can basically prevent your slide. Now, there's a difference in the way that you go about all four, and each one is needed eventually for the growth phase anyway. Let's say you were in the business of courses. Instead of pitching $1 million month, you could say, I could help you 10% more next month, save you 10% costs, or I could give you a tactic to stop losing money. (04:29) If you're in the marketing instead of hot leads, you could have a 10% more ROI. You could reduce a 10% spend. You could ensure breakeven. Or if you're in the job instead of promising a dream job, you could promise just about an interview. In 30 days, you could have a better CV as an efficiency, or you could have sell unemployment insurance as a security. Again, these are just examples in the business of a holiday, the growth space can be a dream destination. The progress one can be simply better than your last holiday. The efficiency can just be cheaper than your last holiday and security can be. Just plan your budget and be smart. Don't go on a holiday. The skepticism reduces when you hit the demand. As you go into the other phases rather than the top layer of growth into progress, efficiency or security, the skepticism reduces because you actually hitting the current need of demand. (05:22) The current need of any human being or any business is either progress, efficiency or security, which eventually may lead to growth. Yes, don't get me wrong, everyone wants to reach their goals. Everyone wants to be in the growth phase, but the current need is always progress, efficiency or security. Depending upon your product to service, you need to figure out where your play is in progress, efficiency or security. For example, if you're into consulting or coaching or general content creation space, anything to do with change or anything new someone's life, you might find a progress play there. Instead of pitching growth, it might be far prudent to figure out what your progress play is. What can you help people to be better by five or 10% tomorrow morning or a week or a month from now? If you're an expert or you are a technical or financial expertise, let's say you might be better off in the efficiency play or if you're just starting out and you don't have a body of credential work, you might be better off playing in the security play. (06:27) Build up that resume, build up that credential, move to efficiency, progress and eventually growth. I want to give you four key questions that can act as a tool to help you along in this journey. Understand your stakeholders. Who exactly is your stakeholder? By which I mean who is this person who will give you what you need for your achievement? The second question is, what does your stakeholder consider value? Not what you perceive as value, not what you are proposing as value. What is that value according to the stakeholder right now in their life or in their business related to whatever it is that you're offering? Then what is your play? What is your growth play? What is your progress play? What is your efficiency play? What is your security play listed down in front of you so you can match it up against question number two, which was what does your stakeholder consider value? (07:20) And the last step is, which is the most critical in which play? Can you offer the highest and most differentiated or most shocking value to the customer or to the stakeholder against their expectations? And that becomes your achievement, sir, right? So which is the area where you can offer the highest and most differentiated, the most shocking value so you can outperform on the demand whenever you can outperform on the demand. At the same time, build stakeholder resonance becomes your achievement zone. So play in your achievement zone. Value the demonstration by making a low or a micro achievement possible for a stakeholder to be able to try you out. Build trust from trust, you build authority, and once you've built an authority with a set of stakeholders, you can then control demand creation and play in the growth phase. Makes sense to you, doesn't it? Whenever, and this is a rider, and this is a point to remember. (08:17) Whenever there is a stakeholder change, you might introduce a new product or you might go into a new market or you might start a new job. This cycle starts afresh. What worked yesterday doesn't work today, right? So whenever there is a change of stakeholders in a new market, a new product, a new job, a new environment, the cycle starts afresh. Unless you are a super duper authority in some cases, even if you're a super duper authority, even then it would need to start again, and you need to go back to building stakeholder resonance before, wondering why your products aren't working out well. So this is where we are. We started with a in performance and achievement, and I'm going to repeat it once again for you that the gap is because you're not finding stakeholder resonance, you're not finding stakeholder resonance because you're not able to meet the current and immediate demands, and you have to make it possible for people to trust you through playing in progress, security or efficiency zones, and create offers that they can have a chance of trying you. Once they try you, they trust you. Once they trust you, you build authority. Once you build authority, there is no stopping. You can play in the highest value addition phases. I'm going to summarize this with one more slide. Performance that meets demands and win stakeholder resonance is what leads to achievement performance that meets demands and win. Stakeholder resonance leads to achievement performance that fails to win. Stakeholder resonance, no matter how good a superior it is, will not lead to achievement. Micro achievements build trust. Trust builds authority, and authority can eventually dictate demand.