VRIN Scoring - Your Success Prediction

Alright guys, today's post is about something I have recently been researching after discovering. There is a measurement concept regarding somebody's success and status that bases the assessment off of four key aspects.

The "VRIN" Score acronym stands for the following four factors of measurement;

1. Value
2. Rarity
3. Inimitable
4. Non-substitutable

Each letter category within the VRIN Score system is out of 10. The higher the number, the better. This means there is a maximum attainable score of 40. If you are scored at 40, you are essentiallty projected to be a billionaire. Somebody such as a minimum wage worker is a 1, or something low and around that lower number range.

So let's start with over-viewing value. Basically, this VRIN category scores your concept or business model based off of the amount of value that it provides to the customer or recipient of the product or service. Also, it's a measurement of the perceived value of the product or service being provided. Having a high perceived value will give a higher score in this category. 

Next, we have rarity. This letter represents how innovating your concept is, and whether or not it is found out in your market already. If you have a high rarity, you are considered the niche authority. Essentially, this means you are the go-to person for your service or product. This is extremely lucrative. Having high rarity is effectively monopolizing your niche and dominating your target market over all competitors.

Third, we have the inimitable rating over your concept. If your product is difficult to replicate or your service is unique in the sense that nobody else can provide it, you also have a boost in the rarity category. But it overall increases your score in the inimitable category because what you are doing has high innovation that nobody else is able to provide to others.

Finally, Non-substitute value. This is an assessment of your competition's ability to provide your service or product, and essentially describes your monopoly value as well. If you are high in this category, that means that your business cannot be replaced by another product or service.

Overall, if you rank highly in each of these categories, your business is in a prime tipping point for massive success. All there is to do is to effectively get your now-prepared and high value, irreplaceable and innovating idea out there and gain sales and establish your brand.

Hopefully this brief assessment of the VRIN Scoring system is beneficial to you all in developing and creating the best and most optimized product or service possible, and that it has provided valuable insight that will further yourself and your business. I hope you have enjoyed! To discuss this further, let's Skype or do a Google Hangout conference, or simply email me at connorjsmithmarketing@gmail.com.

Thanks much!

Niche Networking - Pro Tip For Successful Networking

To the tune of my last two blog posts, this post will continue in elaboration on the topic of networking. Specifically, this post will go in depth about one massive tip that I have found to be success inducing.

Everybody has a different niche and industry, and therefore, target market. The biggest question not only in sales, but also in networking, is where is it that people can connect with either customers or potential partners and mentors that they can network to in order to further their success? 

I have discovered 2 primary methods that have allowed me simple and often cheap access to effective groups of targeted people that I can network and connect with for business purposes. These two methods are listed below;

1. Webinars, online seminars and conference calls, and tutorial sessions
2. In person seminars and conventions, or small group meetings

Let's start first with discussing the first listed method. Webinars are very helpful towards meeting others that are in your specific niche. They are highly targeted pools of people attending these online webinars because all of them have the exact same objective for attending that particular webinar; to learn the content being taught by the webinar host. This being said, if you can find a webinar that is in your niche, you can attend it and not only learn something valuable potentially within you niche, but also connect with other potentially beneficial individuals that you can leverage for clients or assistance or any number of other things. The issue that you may often encounter with webinars of a larger size is that there can be so many people in that given session that none of them will actually notice your comments, and it is next to impossible to line up a solid, consistent conversation, and much less obtain contact information. I suggest going for webinars that are a much smaller group of people that you can better connect with. Webinars are often found within social media, typically Facebook. This is because this is primarily the platform that the webinar hosts are trying to gain an audience from. On this same note, you can also attempt to host a webinar or online conference session to meet interested people and give a call to action at the end of the session asking the attendees to contact you further.

Secondarily, we have the in person, more original method of networking. This being said, it is mainly the same sort of concept. Facebook will be a great place to obtain information and access to these offline events, and if you have the capital and potentially the reputation and audience, you could attempt to host your own event by renting a venue and setting up the marketing campaign to gain traffic and to get people to opt-in for the event to attend it.

Both of these options are easier, far more targeted methods to obtaining targeted, high quality traffic that will either convert to sales, or will provide seriously vital opportunities or connections to you and your company. I hope this pro tip has helped, and there are many more to come!

Thank you for reading as always. Contact me at connorjsmithmarketing@gmail.com for any questions, or to connect with me!