OpeningTheShowConceptMeeting.mp3 | Convert audio-to-text with Sonix

Stone Payton:
Welcome to Business RadioX Pro Tips. Stone Payton and Lee Kantor here with you this afternoon. Lee, in this series, we’re going to talk about the show concept meeting. And one of the first things we want to address is how to open the meeting effectively. When we do one, you typically open the meeting. Walk us through that a little bit.

Lee Kantor:
At the beginning of a meeting, what I’m trying to do or what we’re trying to do is to get to the heart of who the ideal prospect is in the room. And that is really the reason that the client wants to do the show is to reach this group of people or this type of person. And we go through a series of questions and really, kind of, peel back the layers of the onion to find out who is the person that writes them checks; who is the person that if they met more of those people, if they met 10, 20, 30 more of those type people at the end of the year that that would move the needle in their business. So, then, the way you uncover that is by asking kind of a series of questions at first. The prospective client likes to think their show is going to be about them or some specialty they have to work through that.

Stone Payton:
Right.

Lee Kantor:
That’s normally the — they think, “Oh, I’m an accountant, so I’m going to do a show about accounting.” And then, we have to kind of go, “Okay, that’s good. That’s a possible idea. Let’s kind of put a pin in that. And then, let’s hold that over here.” And then, we work through to really understand their business and to get down into the heart of who they do business with, who they like to do business with, who they want more business from.

Lee Kantor:
And once you start asking those kind of questions, “Who is the person that writes your checks? Are they in a specific industry? Do they have a specific title? Are they in this specific area of town?” and you just really get to know their business and understand, “Okay, who’s your perfect client right now?” Your perfect client is a woman entrepreneur? Are you sure? So, you get most of your business from women entrepreneurs? Are you sure?” And then, they say, “Yes, I get — if I can have more women entrepreneurs, that would move the needle on my business.” Then, once we kind of understand their business where we can put their ideal customer in a bucket like that and say, “If you want to reach these people, we can reverse engineer a radio show that puts you in front of those people on a regular basis.”

Stone Payton:
Well, what I love about the way you open a show concept meeting is we get drilled down on who they need and want to serve, where they’re hanging out, and it just provides such marvelous foundation for the balance of the meeting is going to be grounded in how they can serve the people who are important to them, and like you say, who write them checks. And this first step is so critical. They’re doing most of the talking, I love everything about the way you open this stuff, and it sets the stage for the next part of the process, which is painting the room.

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ShowConceptMeeting_PaintingTheRoom.mp3 | Convert audio-to-text with Sonix

Stone Payton:
All right. Welcome back to Business RadioX Pro Tips. Stone Payton and Lee Kantor here with you. This is our Show Concept Meeting Series. We’ve already spoken opening the show concept meeting. Now, we are prepared to paint the room. We do this with flip charts sometimes. We do it on a piece of paper there on the table sometimes. Walk them through it, Lee. And I’ll chime in if I think I have something to add there.

Lee Kantor:
All right. So, whether we’re doing it on a sheet of paper or flipboard, what we do is we like to draw a rectangle, and then draw circles around the rectangle. Usually, four circles around the ,rectangle two on each side. And we’re putting the guests in the room, and we’re really trying to visualize a studio. We want the prospective client to see a show being built. So, one of those seats around the table are going to be them, the host of the show, which is our prospective client. And then, we’re going to go around the table, and then fill the rest of the seats.

Lee Kantor:
One seat is the person that writes them checks. This is their ideal client. And we start. So, we identify them as one of the seats. And then, not only do we just put ideal client there, we get very granular. We want to know who they are. They are vice presidents of manufacturing firms. We want to know the names of people that they want to put in the room: Bob Smith, Mary Jones. I want to know the companies that those people are with. We want their dream list to start kind of being fleshed out here. We want to know either the companies, the names of the people, the titles. We want to get very specific who that ideal customer is for our sponsor. So, that’s one of the chairs around the table.

Lee Kantor:
Another chair around the table is referral sources. Who are the people that refer business to them that fit into the ecosystem of this show that we’re building for them? And these referral sources could be other professional service firms. They could be complementary businesses that touch this group. So, then, we start listing those out by name and by company.

Lee Kantor:
Another chair around the table is associations, trade associations, business groups. We start listing them out. Most of the niches that we go after, there is some sort of a trade group, or there’s a group that serves that same group of people. And we start listing them. Who is the leadership on that? We get very granular. The more specific, the better. And at this point, you even want to get your perspective customer on the board with the Sharpie, writing their ideas down, and let them kind of co-author this at that point.

Lee Kantor:
The last chair at the table is the kind of micro celebrity or the influencer. And this is the person that might be a blogger. They might have written a book. This person is — this is kind of a warning sign for this kind of person. Since they are kind of the celebrities in that niche that your perspective customer wants to immerse themselves in, they can, all of the sudden, get star struck and say, “Oh, look, I’m interviewing these famous people. And then, I’m famous. And I want to be more famous.” So, you want to just do this a little bit. This is kind of a spice. This is not the entrée. The entrée are the people that write your customers, your prospective customers checks, that’s who you want more of all the time. You want to make sure that somebody in the room always represents that group. The micro celebrity or the influencer, if you do that occasionally, that’s probably enough.

Stone Payton:
I like what you said about co-authoring this. I think that is so key. And yes, when they can get up at the flip chart or on the piece of paper, and they have the pen in their hand, that’s how you know you’re doing it the right way. And I love to ask them, even though I know where I want them to land, and I may have to nudge them a little bit for proper hosting mechanics to get the most out of the platform to truly grow their business, we might ask them, “Well, you know, what do you envision as the format? Like, what kind of questions are you going to ask?” And let them, you know, begin to shape this thing. So, I love the framing of co-authoring. And when you’re doing that, and they are participating at that level, it really sets the stage in a marvelous way for us to begin asking them about return on investment. And that’s the next piece in this series is ROI.

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ShowConceptMeeting_ROI.mp3 | Convert audio-to-text with Sonix

Stone Payton:
Welcome back to Business RadioX Pro Tips. Lee Kantor and Stone Payton here with you this afternoon. We are doing our Show Concept Meeting Series. Lee, we’ve talked about opening the meeting. We’ve talked about painting the room. And, now, it’s time to get into the conversation about return on investment, ROI. Talk us through that a little bit.

Lee Kantor:
Well, this is a key part of this because this is where you know if this is going to work out financially for you and the prospect. This is kind of where the rubber hits the road. At this point, this is when you want to really understand the lifetime value or the value, annual value of a client to your prospect. And you’ve got to know this because if that number is too low, it’s not going to work out. It’s not going to make financial sense for them to invest the money and time required in order to do a radio show.

Lee Kantor:
So, I’ll talk about what we do in our studio here and the numbers we use, but every studio has a different way of doing this, and they have a different, you know, financial number they’re looking for. And this helps inform you, really, about who the prospects for your studio are. So, it’s very — it’s at the heart of the business part of Business RadioX.

Lee Kantor:
So, now, what we do is the numbers that we use are $1000 a month for a monthly show. That’s, usually, the starting point that we’re looking at. So, we know that going in, and we know that if they pay $5000 upfront, they can get six months of a show. So, therefore, annually, the commitment is about $10,000 to have a monthly series or show here at at the Sandy Springs Business RadioX.

Lee Kantor:
So, we know that going in. The customer doesn’t know that. So, we have to ascertain from them by asking them, “What is the lifetime value of a customer? How much money do you normally make if you can turn a prospect into a customer? And engagement, how much is an engagement worth?” We want to know those type — we ask those type of questions to find out that information.

Lee Kantor:
Now, if they tell me that a typical engagement or an average engagement is $10,000 or more, then I feel that we are a very good solution for them and that we can help them make that happen because I feel very confident that we’re going to get the right people in the room for them, and then they have to believe in this statement. When I say, “If I can put you in front of 10, 20, 30 of your best prospects in a year, is that going to move the needle in your business?” And if they know that they just have to make one sale in a year, then it seems like a no-brainer. They believe that in one year’s time doing this show, which they already know they like and had fun doing as a guest, they’re going to get a lot of content, they’re going to meet a lot of people that are important to them, they’re going to serve the ecosystem. And if they can believe they’re going to sell one thing to somebody, then this seems very doable. It seems like it’s almost a no-brainer at this point.

Lee Kantor:
You mentioned a moment ago that you got to know this. And you do, but you don’t get to tell it. In fact, it is so much more powerful if you get them to tell it. Look, I’ll tell you again, I tell every one of them, this thing of ours, it works. It always works. It never doesn’t work. So, what we do is going to work. The question is, is it going to, as Lee puts it, move the needle in their business? That’s a math question. Put it to them. The return on investment, it can be absolutely ridiculous, but you don’t have to tell them. You can ask them and let them tell you.

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ShowConceptMeeting_3Disciplines.mp3 | Convert audio-to-text with Sonix

Stone Payton:
Welcome back to Business RadioX Pro Tips. Lee Kantor and Stone Payton here with you. This is our Show Concept Meeting Series. And today, we want to talk about the three key disciplines, the items that you want nailed down to some degree. You do not want to wrap your show concept meeting without these three things. They are show title, time slot, and a confirmed release date. Lee, talk us through this a little bit. And, again, I’ll chime in if I have something I think I can offer here.

Lee Kantor:
All right. So, now, we’ve already gone through that we have a whiteboard out or some sheet of paper where we’re kind of building the bones of the show. Then, on that sheet of paper where, now, they have the rectangle with every seat filled with the names of all their perspective guests, and we have their clients, the prospect of, you know, gate openers or referral sources, the celebrities, the influencers, all that stuff is now all over this sheet of paper. As we’re kind of wrapping this up, we know that the value of the prospect is worth it to continue.

Lee Kantor:
The last elements of this are to come up with a name of a show. So, you got to come up with a name. We’re big believers in literal is better. The object of a good name of a show is one in which that the guest, the prospective guest thinks it’s a no-brainer to be on the show. You don’t want them to go, “I never heard of that show. What does that mean? I don’t understand.” You don’t want to create any friction. You want to make this as elegant and organic as possible. So, to me, this show should almost be like an award. It should be Best CPAs in Birmingham. It should be something where the prospective guest goes, “Of course, I would be on that show. That show is exactly about me.” They want to come to the realization, and they want to kind of pine for being on the show because it’s an exact fit. So, you do not want to create any friction with the name if you can help it. So, that’s number one.

Lee Kantor:
Then, another thing you have to do before you’re done in the show concept meeting is have a date and a time. So, this is the rhythm of the show. Lock it down. Do Mondays work better, or your clients always are working on Monday? Monday is a busy time. Okay, is middle of the week better? Is the beginning of the month better? Is the end of the month better? You get down into the weeds about the rhythm of their business. They know their business better than you. So, they know Tuesdays is terrible. That’s one where everybody has their staff meeting. Every industry and niche is different, and you have to get to the heart of what is the ideal thing.

Lee Kantor:
We like to land usually before lunch. It’s kind of prime time here. So, this way, after the show, they can take the client to lunch. That’s a good landing spot. Or if you want to do after lunch, then they can take them to lunch first, and then come on the show after. But you want to knock down and lock down a day and a time. Second Tuesday of the month at 10:00. Third Thursday of the month at 2:30. Whatever it is, lock it down. And then, from your scheduling, you want to pick a time where you’ve kind of clustered your shows together. That’s the ideal thing for you to manage your time, so that you know Tuesdays and Thursdays are when I do these monthly shows.

Stone Payton:
And, now, you have. If you have a show title and a time slot, you have something that you can protect, you can put a temporary hold on for your prospective client. And, candidly, you’ve got something you can take away from your perspective client. It’s real, it’s tangible, you take the flip chart, the piece of paper off the flip chart, or you take a picture of it, or you hand them the piece of paper you’ve been working on at the table. They walk out with that. The third piece, of course, is setting a confirm release date. And we’ll talk about that in our next series.

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Show ConceptMeeting_ConfirmReleaseDate.mp3 | Convert audio-to-text with Sonix

Stone Payton:
Welcome back to Business RadioX Pro Tips. Stone Payton and Lee Kantor here with you. This is our final segment in the Show Concept Meeting Series. We have covered opening the meeting, painting the room, establishing ROI, and we talked about the three disciplines, but we really didn’t dive into this third discipline. We talked about landing on a show title and a time slot, so you would have something to protect for the client and candidly something to take away. It is key that before they walk out of that room, you establish a confirmed release date, a specific point in time when they are to get back to you with a yes or a no.

Stone Payton:
And it can be teed up very easily. Most people will not hand a credit card to you across the table during that meeting or write you a check; although, I must say, it has happened on more than one occasion. Most people need to check with their spouse, their business partner. They need to think about it. All of that is fine. You should make that very comfortable and, perhaps, suggest, “Terrific. Today is Thursday. How about, you know, by next Wednesday, you think you’ll have that figured out and know that this is going to be a good opportunity for you?” Typically, most people are reasonable. They’ll say yes. They’ll appreciate the breathing space, if you will. That day, that next Wednesday, that is your confirmed release date. Here is the key though – you need to be prepared to do the release part. Lee, talk to that a little bit. And I will swing back around on this because this is very key, in my opinion.

Lee Kantor:
Right. So, the mechanics of doing this properly, we believe, is once you have the photo of the studio that you built, the show concept that they’ve agreed on, that they are all excited about, that they’ve co-authored, you send them at the end of the day a note that kind of recaps the meeting, right?

Stone Payton:
Yes, yes, that’s a great idea. It’s good discipline.

Lee Kantor:
So, now, you show them where they are in the process of having a show. They’ve already completed the bulk of the work, right. We have a name, we’ve got a date, a time. We know that there are studios available. We know that there is an ROI here. We know we’ve identified the key guests. The show is 80% there, right?

Stone Payton:
Yeah.

Lee Kantor:
So, now, we’re checking boxes, “Done, done. This part’s done. This part done.” We’re literally waiting for this one last element, this confirmation that they’re in, and they want to do this.

Stone Payton:
Absolutely. And key to me is we’re not waiting. We’ve provided the opportunity. We’re giving them the breathing space to make an informed decision based on the conversation we’ve had. From our perspective, we just invested the time and energy to design a great show concept that is going to move the needle for someone’s business. We hope it’s them. And so, to me, that is the tone and the tenor. And if the confirmed release date is Wednesday, here’s the human nature that I’m going to encourage you to try to resist, don’t wait till 5:00 on Wednesday, don’t wait till Thursday, because maybe they got busy.

Stone Payton:
No later than noon on Wednesday, if you’ve not received a confirmation that they’re going to move ahead with this, you send the release note, and you very nicely say, you have a subject line that says, “Releasing your show concept and time slot.” And you put down in the body of the other note, “Jill, sorry it didn’t work out for you to sponsor the Bumpity Bump Show on the Business RadioX network at this time. If circumstances change,” and they often do, “we’ll look forward to entertaining a similar idea in the future if the category and the show concept are still available. In the meantime, we’ll look forward to having you back in the studio some time when we have an episode focused on your area of expertise,” or something with that tone.

Stone Payton:
Here’s a couple of things that it does for you. That’s not going to run anybody off that really wants to buy. The person who doesn’t want to buy and maybe doesn’t feel comfortable telling you, you know, you’ve given them a nice face-saving out, you’ve left the door open for them to come back another time, and you’re not waiting on that phantom phone call, and you really have a show concept that you can take to the open market. That’s my take on it, Lee. I can’t stress how important this is.

Lee Kantor:
Yeah. This is — and it’s important, in order for this to really have the impact you want to have, during the course of doing the episode, you have to get them to understand and agree that this show would be great for anybody in their industry, and it sure is lucky that we came up with this together that’s going to work for them. So, they have to feel a sense of ownership of this concept and feel that this concept has value, and they don’t want to risk letting this slip into the hands of a competitor.

Lee Kantor:
So, you really have to make a point during the building of the show to say, “Man, if this would work for you, man, this probably would work for anybody in financial services,” or whatever their industry is. So, you have to make it clear that when you are taking it away, there is a real chance that a competitor is going to get their hands on this and execute the show that they spent a lot of time and effort co-authoring.

Stone Payton:
And I will say this, maybe one of the biggest mental shifts that we ask our new studio partners to entertain this strategy, tactic, technique, this discipline, if you will, it works. And if they really want to buy, how many times of the year, Lee, have they come back very quickly saying, “No, no, no. I just hadn’t had a chance to talk to my partner. Can you give me another couple of days?” or “Oh, I’m so sorry. Yes, I want to pull the trigger.” You’re not going to run off. You’re not going to cause a problem with the person who genuinely is interested, and you’re going to provide a great face-saving way for the person who’s not ready for whatever reason.

Lee Kantor:
Right. And you know, on that date, you’re going to know one way or another if this is a go or not.

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InvitingGuests_CastAWideNet.mp3 | Convert audio-to-text with Sonix

Stone Payton:
Welcome to Business RadioX Pro Tips. Lee Kantor and Stone Payton here with you. We’ve been talking about inviting guests. Lee, your counsel is cast a wide net.

Lee Kantor:
That’s right. Don’t be afraid of the small guy, the person that’s just starting up. That’s the mission of Business RadioX. We’re here to tell the stories of business. We’re here to tell the positive stories of businesses of all sizes. And I’m perfectly comfortable having a studio with an executive with a large consulting firm, an executive of a startup, and then somebody who’s just starting their brand-new, you know, pizza shop. Businesses come in all sizes. And every large business started as a small business. The network, there can be learnings from everybody at every stage.

Lee Kantor:
Now, the only caveat to this is I try to avoid in our studio kind of these businesses that are kind of in a gray area that I don’t think that somebody from a large accounting firm or a large consultancy would feel comfortable in. I don’t want to have a multi-level marketing, or somebody selling, you know, vitamins, or something that’s kind of in a gray area. There are places for that. It just that we find in Business RadioX that we’re looking for businesses that are serving the vast majority of the population in a way that the vast majority of the population thinks is legitimate.

Lee Kantor:
Now, we don’t kind of hesitate from being in controversial areas. We’ve had businesses that have been in cannabis. We’ve had businesses that have been in areas that are not exactly, you know, kind of — you know, they’re kind of in a gray area for some people. But as long as they’re legitimate businesses that are serving the community in a legal way, we’re perfectly comfortable of spotlighting them on our shows.

Stone Payton:
Well, and you don’t know whose cousin is operating that pizza shop. And if you are living into this mission of ours, that will be seen, that will be felt throughout your community. And it’s that context, it’s that backdrop, it’s that foundation that allows us, I genuinely believe, to have the inroads that we do into all of these businesses we are genuinely supporting and celebrating, the local business community. So, I think, it’s not only okay to cast a wide net. I actually think it’s fundamental to the whole strategy.

Lee Kantor:
Right, but you don’t want to only have the small guy.

Stone Payton:
Right.

Lee Kantor:
You have to have the people that can afford sponsorships, or else, you’re not going to be able to continue making a living doing this.

Stone Payton:
Absolutely. And that goes back to something we mentioned in an earlier Pro Tip, you also just don’t want to have a roomful of celebrities. That’s fun, and every town has that, but most of the times, those folks aren’t going to write checks. So, you do have to be mindful of the people who do fit that profile for you. And in the same breath, I got to say, let’s live into our mission of supporting and celebrating business, and be willing to have the small guy in there, and be willing to cast a wide net.

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