How Fly Fishing and Market Positioning Resonate with Dave Goetz

Dave Goetz is a little obsessed with fly fishing. He is so obsessed that he started a podcast (2 Guys and a River), now on season 5 with over 315,000 downloads. But, his day job is working with clients of his CZ Strategy  marketing company on positioning, messaging, content development and digital marketing to create valid sales leads. He’s seen a lot during the past 20 years of working with over 160 clients, 40 of them startups. He’s witnessed successes and failures of entrepreneurial startups, some even that were incredibly well-funded. Goetz shared his experiences with ID members during a recent ID Mentor workshop: insights that are not unlike the casting and mending of a line and the strikes that result with fish rise.

The Woes of Startups

Goetz said because generally it takes 1,000 days (or more) to start up a business, entrepreneurs should plan to survive that long without new revenue coming in. He also advised founders to spend at least 50 percent of their time on sales and business development/relationship-building, recognizing that founders would rather spend their time on “fun” things like product development and marketing. “I always say you need to load in 50 percent of your time on your marketing plan to sales. If you don’t do that, you can’t be successful,” he said.

founders should spend at least 50 percent of their time on sales and business development/relationship-building

He also said marketers must find a channel where their potential customers are hanging out and then capitalize on that, kind of like how fly fishers must locate the bend which is attractive to the most trout on any give day on the river. It may be a tradeshow, a publication or a trade association for business-to-business (B2B) customers, or a network, radio station, magazine or blog for consumers.

But First Find A Category

“Trout are very sensitive to unnatural movement.” So says a website designed to attract travelers to West Yellowstone in Montana. Like trout, markets are also sensitive. The market is sensitive to the position of a product in the marketplace. Goetz said there are only eight market positions within any market category. Defining the category is the hard part. Once you’ve done that, the position within the category will be obvious and it will be one of the following:

Leader «-» Innovator
Generalist «-» Specialist
Premium «-» Discount
Performer «-» Service

Goetz said the market position is determined not by the marketer, but in the minds of the people who would be its customers. It’s their perception of the company/product/service. And that perception is based on their experience and impressions. And they’re sensitive. Like trout, they’re not going to strike at just any fly. However, once the market position is identified, if it’s not to the liking of the business owner, it can be changed.

Carving Out Real Estate in the White Space of Customers’ Minds

Defining a category and a position is the work marketers must do before hiring for creative. Only the marketer can define messaging architecture and create a messaging blueprint. And just as a fly fisher is constantly mending his line, the marketer must constantly evaluate the market position and be prepared for change caused by any number of factors: a change in a competitor’s position perhaps, or the addition of a new product or service, or growth or shrinkage of the company.

“Positioning decays over time,” said Goetz so he advised marketers to set transition points to conduct research as to the perception of the company in the minds of the most recent customers and prepare to shift. Constantly.

Branding Is Not Your Logo

Goetz said, “Branding is not your logo and not your website. It’s the experience people have of you. Branding is a memory of what people have of their experience. As your organization matures, it becomes your story. You want to make sure when people have a memory of you, it’s accurate.”

He said your biggest challenge is to create a prospect pool in a well-defined channel (what people read) and then build a marketing/sales funnel. The market position your company has within that prospect pool is what sets your company apart from all the other ideas and initiatives competing for any particular customer’s share of mind. It’s like finding the perfect river teeming with fat trout. You’re not going to catch them all, but the one you do catch is going to be valuable.

Ask at the ID front desk for Goetz’ Messaging Blueprint worksheet to help you craft your own positioning statement and marketing message.

 

Keeping Kids Safer Online Through Storytelling

Online technology has become an integral part of daily life. Technology is used for everything from navigating to work, to connecting with friends, to buying shoes and even setting thermostats. Children, like adults, are glued to their devices. This interconnectedness—while valuable—can be problematic, especially for children.

A Plethora of Platforms

Twitter, Snapchat, Boomerang, Periscope, YikYak, 4Chan, Discord, Twitch— there is an onslaught of new online platforms with increasingly trendy-sounding names. For parents who are also being bombarded daily by new options, it is daunting to know how to guide children through this maze. Parents are generally at a loss over how to safely guide their children in an environment they themselves barely grasp.

This is precisely the situation that caught Liz Repking’s attention when her son was in middle school. She saw her fellow parents were throwing their hands up in defeat, overwhelmed. They were saying “I don’t understand this. They’ll be fine.” Hearing this, Liz understood that the increasing use of online activity was affecting all children and was becoming an urgent parenting issue. Repking knew it was a problem she could help solve. She found her calling and started Cyber Safety Consulting.

An extensive background in IT consulting and training as well as being the mother of three children gave Repking a unique perspective on how to help parents and children navigate this new and treacherous landscape. Initially, her focus was on teaching parents how to educate their children on internet safety, but when she was approached by a school for help in the aftermath of a sexting scandal, Repking realized there was a great need to present directly to children as well. The goal? To educate about the dangers associated with online behaviors and how they can react when finding themselves in uncomfortable or risky situations.

When “Spidey Senses” Tingle

Repking said while students are frequently more tech-savvy than parents, they often lack the social and emotional awareness needed to protect themselves. This is exacerbated by the fact that online interactions are devoid of the sensory cues prevalent in personal interactions ‘IRL’ (in real life) so critical to assessing/understanding situations. In person, body language can raise warning signals which make a person’s “spidey senses” tingle. But without such input, subtleties are stripped away and people—especially children—easily step squarely into exploitative or other treacherous situations.

The greatest tool I use is storytelling.

Repking said, “The greatest tool I use is storytelling.” But the stories must be relatable to be impactful. She has found that students have a hard time relating to stories used as scare tactics. Children believe that extreme scenarios are exceptions and wouldn’t apply to them. Young people do not react well to direct warnings not to do something, especially if they think they know more about something than their parents, she said. So instead of lecturing at children about what not to do, she weaves abstract concepts into stories from her own life and current events.

For instance, instead of warning kids with “What you [post online] stays up forever,” she tells the story of the 2018 NFL draft quarterback, Josh Allen. Allen was one of the league’s top draft picks but lost his offer when old offensive Tweets were uncovered. Though he posted the Tweets when he was a teenager, the damage was done. Repking said her presentations are conversational which begins with knowledge from the students. She talks with students and never at them. In doing so, she guides them into discussions about real-life consequences of their online actions and spurs conversations with their parents at home.

Accelerating Cyber Safety Consulting

In addition to presentations, Repking has created internet safety curriculum for schools and is in the process of developing a book on the subject. Since 2012, she has delivered keynotes and speeches locally and nationally and been interviewed by WGN, FOX, and other news sources to establish herself as a leading expert.

Repking joined the Innovation DuPage accelerator program, Owner-to-CEO, which also allows her to work at #IDHQ to access mentorship and other ID business incubator resources, as well as collaborate with other business owners and startups. She came to the space for the resources it offered to help her develop her programs and further grow her business, but now she comes daily to interact with new friends and colleagues. She said the stories her ID colleagues share give her ideas and help her grow as a business founder and owner.

Which just goes to show, storytelling educates grownups and children, alike. Just as Cyber Safety Consulting is using stories to help keep kids safer online, so are stories helping ID members become the DuPage region’s employers of tomorrow. For more stories about innovative business founders and owners follow ID stories.

by Katie Uram

Innovation DuPage

Flip the Switch

If you have an idea that you genuinely think is good, don’t let some idiot talk you out of it.

~Stan Lee (Marvel Comics)

Thomas Edison was a prolific inventor and diligent genius who earned 1,093 patents over his lifetime. Often working 18-hour days in a cramped lab, he took his meals at his desk. He reserved time for few things besides his work, neglecting vacations, sleep and often, bathing.

It’s the classic story of grit, hustle and good old-fashioned hard work. But, something is missing from this story.

… Actually, there is a lot missing.

Edison Wasn’t Alone

Edison was surrounded by equally obsessed lab technicians that also put in 18- hour days. In fact, the idea of the lone, lonely inventor is a myth. It leaves out the messy yet beautiful process: Collaboration. The sharing of a common vision. Moving from “my idea” to “our project” takes many hands not attached to the founder title.

Many of the greatest titans of industry supported Edison because they believed in his vision. J.P. Morgan invested in Edison’s team because he believed in their potential to create a solution for installing electricity in his 5th Avenue Manhattan mansion. During this project, Morgan’s home transformed into a lab where Edison’s team experimented, resulting in a generator that powered the home’s 400 light bulbs. This ingenuity amazed the masses, and soon after, New York City was energized by Edison’s design which resulted in the explosive growth of numerous industries.

Today’s advancements in technology coupled with rapidly expanding markets provide a similar opportunity for growth. Connecting founders to resources that support a shared vision is the mission and future of Innovation DuPage.

Discover Your Unfair Advantage

Did Thomas Edison have an unfair advantage in his partnership with J.P. Morgan? Of course. Likewise, entrepreneurs working in the newly remodeled ID space will receive consistent support as they develop their own unfair competitive advantage.

When novel thinking connects to a solid infrastructure–like the resource-rich ID environment– partnerships will create ventures which move the needle for the entire community. By tapping into the power of “we” something truly original results.

Innovation DuPage offers entrepreneurs and small business owners a roadmap for turning ideas into those commercial ventures. There is an intentionality to the process that enables entrepreneurs to efficiently build a startup by searching for product/market fit rather than blindly executing on assumptions. Startup founders receive guidance while they craft a scalable business model, define their value proposition, enhance their competitive differentiation and collect customer insights.

Next-Generation Design

Successful entrepreneurs search for the truth about their ideas–wherever that may lead. Failing fast and moving forward is an important advantage of working in a community of entrepreneurs. Innovation DuPage provides a safe environment for founders resulting in more successes and fewer failures than going it alone.

At ID, vetted mentors guide entrepreneurs with rounds of constructive feedback grounded in expertise. By sharing knowledge and pushing founders out of their comfort zone, entrepreneurs learn to effectively grow or pivot.

Also, in partnership with The Business Development Center (now also headquartered at the Glen Ellyn Civic Center), entrepreneurs can conduct market research and access support services from throughout the entrepreneurial ecoverse.

The goal is to gain insight to clarify each founder’s vision and extend each startup’s runway to help them build traction. The process develops more resilient entrepreneurs who have a dedicated support network mirroring the actual experience of Thomas Edison.

If you desire to join our growing community of entrepreneurs, we want to hear from you.

Until next time remember, “Genius doesn’t fade just because we stopped watching.”

By Travis Linderman

Travis Linderman served as director for three venture incubators prior to his selection as managing director of Innovation DuPage. He founded a startup with Princeton University, secured venture capital backing, scaled rapidly and enjoyed a successful IP acquisition. He has spearheaded capital campaigns that have raised over $600 million for technology development. You can reach him at ID@InnovationDuPage.org.