There is an ancient superstition of the sea that periodically a wave comes along that is greater than any that has preceded it. It is called the Ninth Wave, a powerful culmination of sea and wind. There is no greater force.
Mackay: Riding the Ninth Wave of sales takes preparation, relationship and intuition
From figuring out new products to building the customer base of a current one, opportunity is more than being at the right place at the right time. It’s hard work.
For the Minnesota Star Tribune
March 2, 2024 at 1:00PM
To catch the Ninth Wave at the critical moment requires a special skill and daring. You must mount the wave precisely at its peak, and it will carry you a great distance to where you want to go.
There is a great lesson here for grasping opportunities in our daily lives. Opportunity doesn’t necessarily knock on the door; it may be leaning against the wall, waiting to be noticed. It is about being in the right place at the right time with the right qualifications. It often comes disguised as hard work.
Most of us see only a small piece of what is possible. We create opportunities by seeing the possibilities and having the determination to act on them. Opportunities are always out there waiting to be discovered.
Take the experience of Edward Lowe, who was in the business of producing a clay-based material to soak up oil and grease spills. One day, a neighbor asked to use the compound for her cat. Lowe realized he was on to something, started selling his compound to pet stores and soon invented the cat litter industry, worth hundreds of millions of dollars today.
It’s not unusual to find new opportunities for existing products either. For example, Arm & Hammer baking soda is used in more than 50% of American refrigerators for odor control, a use that far surpassed its original use for baking.
How about the businessperson who took the average laundromat and crossed it with a beer bar with the motto, “Enjoy our suds while you wash your duds.” It was a runaway success.
Television repairman Joe Resnick became frustrated every time he installed TV antennas. They used to come in pieces, many of which were missing or difficult to assemble on a roof, especially in frigid weather. He was determined to create an inexpensive, preassembled antenna that was easy to install. He and his brothers became millionaires, and their TV and radio business empire was worth $45 million. He later was elected to Congress.
Taking advantage of opportunities, especially in marketing and sales, is all about being alert, proactive and prepared. First you must identify opportunities through customer interactions, market research and feedback.
Stay informed about industry trends and anticipate where demand might grow. Encourage feedback from customers to understand their challenges.
Train your team on product knowledge, problem-solving and soft skills like listening, empathy and communication. Ensure every employee knows your products or services inside and out. Then empower employees to think on their feet and offer creative solutions.
The best way to capitalize on opportunities is to be responsive, customize solutions and follow up. When a client expresses a need, act quickly to show you are eager to help. Tailor your products or services to address the specific needs of your clients. After delivering on a request, check in to ensure satisfaction and explore further opportunities.
Also remember relationships are more than talking products. Remember personal details about your clients and use that to build a rapport. Consistently delivering on promises builds trust, opening the door to more opportunities. Use every interaction to expand your network.
By staying agile and adaptable, you are ready to pivot your strategy based on new information or changing market conditions.
Mackay’s Moral: Opportunity comes to those who go looking for it.
Harvey Mackay is a Minneapolis businessman. Contact him at 612-378-6202 or email harvey@mackay.com.
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