Philip Morgan specializes in positioning. Positioning is finding ways to increase business value that you deliver to your clients by narrowing the focus of what you do. He thinks this will eventually be necessary for all self-employed business owners because without becoming more specific in what you do, you will have to figure out how you market your business. By marketing, a business owner can get around problems like raising rates, running out of leads, and a thinning referral network. Marketing will become much, much easier after a firm has narrowed its focus.
Philip declared bankruptcy when he became self-employed after the market downturn of 2008. He attributes that to a lack of experience in running a business, specifically not knowing how to generate leads and being confident that he would still have clients or the opportunity to get in front of potential clients.
“I have some painful memories about the inability to control my own business.”
Seeing other people succeed at running their own businesses gave Philip hope that he could succeed at running his. He connected with some of them, learned from them, and knows that he must continue learning.
It may sound simple but creating value is essential to running a successful business. The better you know your clients, the more valuable you can be to them. Philip doesn’t think it’s possible for a company to narrow their focus too much.
“The more narrow you go, the more powerfully your clients perceive you to be set up to serve exactly them and that is a huge sales advantage.”
Two resources that Philip recommends for freelancers or others who are self-employed are the books Book Yourself Solid by Michael Port and Crossing The Chasm by Geoffrey A. Moore.
One daily habit that Philip tries to implement to make him better at his work is to not start working immediately when he wakes up. Since he works from home, Philip strives to finish a cup of tea each morning before diving into his work.
He has really benefitted from participating in a mastermind group where he gets together with others who are in a similar industry and they share ideas. He cautions that to do this he must be willing to be vulnerable and admit where he’s lacking and needs help.
Google “Philip Morgan Positioning”