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Daniel Priestley's 'Key Person of Influence' (KPI) is a simple read, which makes it easy to glance over the deeper meaning behind the book.
Priestley places a massive value on your own personal brand, stating, "right now your most valuable asset is the number of people who know you, like you and trust you." This rings true for all businesses and is only becoming more important as technology increases our connectivity.
KPI provides a framework for becoming a well known, sought out, respected and dominant force in your industry. Become a KPI and you will have all the opportunity you'll ever need.
There are 5 steps to becoming a KPI. They go in order of:
You must know exactly how to answer the common question of 'What do you do?'
A ten out of ten response will provoke a response and inspire people to tell everyone about you. It must be anything but boring. This means you will have to practice and perfect your pitch.
The most important note from the book is the line, "Use a sniper rifle, not a shotgun."
Your pitch must be laser-focused on solving the problem of your niche. No general answers. It's okay to not please everyone because the goal is to be a specialist and become well known for one key thing.
4 points on constructing a pitch:
It centres around solving a problem.
It's grounded in reality.
It's aligned to your story.
It articulates the payoff.
Tell people why you want to do something and what it will do for others, then explain how you will deliver it.
If your pitch is compelling enough, people will instantly be thinking:
Having published content, online and offline, is the number one way to develop trust. People can read your story, insights and opinions and pass on this information without ever meeting you.
Priestley believes writing a book is the number one way to develop your status as an expert.
Becoming a published author shows you have put enough time and effort into your thinking to make up a whole book. It allows you to refine your ideas, develop connections with others in your industry and develop powerful intellectual property.
A book takes about 30,000-50,000 words (no easy task). The idea is not to make a profit, but instead, it's to create credibility.
Products are where you make the cash.
Products and services don't make money; product and service ecosystems do.
Your business will take off when you have a mix of products and services. These all work together to maximise the value exchange in every customer relationship.
The best thing about creating products is they don't sleep. If you are your own product, selling your time for money, it presents a problem. You are earning potential is limited by your personal attendance.
Products allow you to expand your service and increase the value of your time.
There are two types of products you need to develop:
Products built for high volume to drive relationships. Eg. podcasts, webinar series, information kits.
Products built to deliver high value and drive profit. A product designed to provide implementation to your specific niche. Information is readily available these days. What is truly valuable is being able to provide an implementation solution.
People want to know they can trust you to get stuff done for them. Be the solution.
This chapter can be summarised in two words: be Google-able.
It's thought that consumers these days need up to seven hours of 'contact time' before they will buy from you. To develop enough trust you must have enough value out there to provide them with the means.
Value can come in the form of:
- YouTube clips
- Your website
- Blog posts
All the content you create and share must be in line with your pitch. It's meant to expand upon your message, personality and branding and position you as the authority figure in your niche.
This is the real secret to making money. Once you have the previous four P's in place, it's time to explode by working with other key people of influence.
There are a few different partnerships you can develop, including:
Affiliate partnerships - people will promote your products for a commission.
Co-promotion - when you find someone on a similar level to you and promote each other's products.
Product creation partnerships - when you team up with someone to make a more valuable new product.
Packaging up - Adding someone else's existing product to your product.
The key to a good partnership is to overdeliver on your end. Start with their interests in mind and actually care about their results. The more successful they become will only benefit you.
Finally, go to networking events in search of partnerships instead of clients. Developing mutually beneficial relationships will work much better than trying to sell people on the spot.
Priestley summarises the book with a chapter on taking action.
The steps themselves are straightforward. Work hard at each and you are almost guaranteed success. But knowing the path is not enough, you must walk it.
Making it happen:
There is no fast-track solution. It will take time. It will be worth it.
Leverage experts. There are hundreds of people who have done what you want to do before and they are available to help you.
Ask better questions.
See obstacles as opportunities.
Continuously expand your network.
Don't wait for the right time. Start now.
When I first read 'Key Person of Influence' it seemed too obvious. It all makes sense. Priestley has laid out a pathway of exactly what you need to do to become successful, which is quite a hard task to accomplish.
The simplicity is the beauty of it.
Taking action is the grind.
In the end, the method works. Priestley runs a very successful business which helps people implement these steps. His clients who follow through achieve life-changing results.
I'm confident that if you also follow this simple framework, you'll become a KPI too. I'll be working hard at it myself over the next few years. Partnerships anyone?