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Joel Blake Profile picture
@joelmfg
Jun 27, 2020 • 7 tweets • 2 min read • Read on X
Running chronicle of @rohangilkes' #30DaysofThreads

Do yourself a favor: FOLLOW THE MAN.

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More from @joelmfg

Joel Blake Profile picture
Jul 9, 2021
How can SMBs secure more customers?

A few ideas for Industrial B2B:
1. Own your neighborhood.

Map all of the companies within a 5-20 mile radius that might need your services.

Walk in with coffee / treats / swag / etc. and introduce yourself as their friendliest neighbor.

Pitch the benefits of having a supplier "within choking distance". 😁
2. Leverage your physical assets.

If your shop doesn't show well, clean it up. Factory tours are a massive sales tool!

Customers love to see how products are made. Invite every prospect for a tour, with a backup offer to meet at their place instead.
Read 8 tweets
Joel Blake Profile picture
Nov 25, 2020
10 Things I've Learned from Buying a 38-year-old Small Business and Doubling Sales:

1. A static industry is the best place to be dynamic.
2. Revenue streams begin, end, and fluctuate.

YTD 2020 ← FY 2017

1 ← 1
2 ← 8
3 ← 2
4 ← 6
5 ← 4
6 ← NA
7 ← 11
8 ← 3
9 ← 7
10 ← 9
11 ← NA
12 ← 10
13 ← 12
14 ← NA
15 ← 15
16 ← 16
17 ← NA
18 ← NA
19 ← NA
NA ← 5
NA ← 13
NA ← 14
NA ← 18
3. It's possible to be too focused on technology and processes.

4. Quality is "doing what you say, and saying what you do." This is the same guiding principle for successful customer relationships.
Read 7 tweets
Joel Blake Profile picture
Nov 10, 2020
Search-funders and SMB buyers with sales experience are starting on second base.

Thread on how sales abilities improve your success odds in acquisition entrepreneurship:
1. SMB Deal Sourcing ~ SALES PROSPECTING

In order to buy a SMB, you need to see hundreds of candidates. How do you do that?

Like in Sales, you have two main prospecting avenues:
1. Inbound - Advertise or network with SMB professionals in your target market, e.g. business brokers / SBA lenders / CPAs / lawyers.

2. Outbound - Find and contact owners of SMBs that fit your criteria to see if / when they want to sell.
Read 31 tweets
Joel Blake Profile picture
Sep 27, 2020
The 6-Step Process to Convince Anyone of Anything:
Here I'll describe a universal formula for crafting a persuasive pitch.

It requires no special skills, just patience and practice.

By the end of the thread, you'll know the secrets of the world's most successful influencers.
1. Establish a CONNECTION.

Before guiding someone to a viewpoint, you must demonstrate that you're on their wavelength.

In persuasion terms: Pace before you Lead.

Pacing is achieved by noticing and bonding over personal interests.
Read 17 tweets
Joel Blake Profile picture
Sep 18, 2020
Your work teaches you secrets that outsiders don't know.

Here's one from Manufacturing:

Magnesium (Mg) is a massively undervalued material.

Let me tell you why. 👇🏻
Mg has amazing properties:

• Highest strength-to-weight of any readily available metal (60% better than Aluminum)

• Can be molded like plastic with very thin walls (playing card thin)

• Excellent thermal conductivity to dissipate heat

• Inherent EMI/RFI shielding
Yet, Magnesium's use in manufacturing is a mere *fraction* that of Aluminum, or even Zinc.

Why?

Two main reasons...
Read 9 tweets
Joel Blake Profile picture
Sep 16, 2020
I hear this objection all the time:

"That's just a job, not a business."

1. Can we stop trivializing the capacity and bravery it takes to strike out on your own?

If you're a one-person shop, hustling to find customers and build a great life...

I'm your biggest fan!
2a. The equity value of a brokerage or agency is NOT zero.

It might be reduced from valuations you're used to.

That reduction is offset by low operating costs and ongoing FCF that goes in your pocket.

A high-output salesperson will get so rich that the equity will be a bonus.
2b. Brokerage / agency equity comes from several places:

- Sales contracts
- Customer and supplier relationships
- Any team you choose to build out
- Back office tools to run the business

Your equity value is directly tired to your level of investment.

It's entirely up to you.
Read 5 tweets

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