TMBA438: The Knowledge Gap vs. The Efficiency Gap

Podcast 34:08| Download | Stitcher | iTunes | Comment

On this week’s show, Dan and Ian are revisiting a subject that they haven’t spoken about in four years.

Truthfully, it’s the number one recurring topic that listeners of this podcast bring up with them in conversation, so we thought it was high time to take another look at it.

Today we are talking about the “Knowledge Gap” and the “Efficiency Gap”.

Too often, entrepreneurs are selling their product or service by trying to solve a “Knowledge Gap” for their customer. Nearly every entrepreneur does this. We try to be the expert in our line of work and teach people why they need to work with us.

But we’ve found that businesses that learn how to focus on “Efficiency Gaps” and solve them properly tend to be more profitable, successful, and fulfilling for their owners to run.

In this episode, we’ll be sharing reasons why people get caught up in this differential and what we, as entrepreneurs, can do to ensure that our businesses are successful.

Transcript

Listen to this week’s show and learn:

  • What the “Knowledge Gap” is and why entrepreneurs tend to focus on it so heavily. (2:32)
  • Why solving the “Efficiency Gap” means having a deeper understanding of the problems of your clientele. (6:02)
  • What happens when you lack the competence to solve the problems in your market. (10:47)
  • Why the fact that no one is doing something yet doesn’t mean that you should be. (24:58)
  • Why you shouldn’t bet the success of your business on your clients’ not gaining knowledge. (30:24)

Mentioned in the episode:

This week’s sponsor:

This week’s episode is brought to you by Ruby Receptionists. There’s not a business that doesn’t benefit from friendly, live customer support on the phone. Ruby Receptionists guarantee that all of your calls will be answered by a friendly team of remote receptionists. From their offices in Portland, Oregon, Ruby delivers exceptional experiences to your callers. They are just like an in-house receptionist at a fraction of the cost. Most importantly, they sound like they are sitting in your office. To learn more, visit them online at CallRuby.com or better yet, check out their services yourself by calling 855-389-LIVE. Big thanks to Ruby Receptionists for sponsoring the podcast.

Enjoyed this podcast? Check out these:

[optin-cat id=”14596″]

Listening options:

Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian