15 Ways to Generate Sales Leads, and Tons of ‘Em

15 Ways to Generate Sales Leads, and Tons of ‘Em

Let me ask you a question Do you want more leads flowing into your life? Now if you didn't just say, "Hell yes!" to that question, then stop this video right now, run to a Capital Grille Steakhouse and go celebrate your awesome life. Now back to the vast majority of us. Most sales people are always looking for more ways to generate leads.

And we've often been taught that we need to bang out hundreds of cold calls each and every day but that simply isn't true. It's all about having a bunch of oars in the water. In this video, I'm going to show you 15 ways to generate sales leads and tons of them. Check it out.

Number one, don't ever settle for just one lead source.

This is one of the biggest mistakes that I see sales people make is that they only have one source of leads. Whether it's through making cold calls, or through ...

It's just from one marketing source.

And when we only have one lead source, we become vulnerable because if that ever dries up, we're screwed. So don't ever settle for just one lead source.

What I recommend is that you have a couple. Maybe three to five really reliable lead sources that are slowly and consistently bringing in leads.

Because what that does is, it really has a multiplicative effect where you're now getting, even if it's just a couple of leads a month from each source, that's a lot of leads when you multiply it by five different sources.

Number two, use campaigns. Now the old-school mindset about prospecting was that, we basically bang out a a lot of cold call and at the end of the day good things are gonna happen. What I'm suggesting is that instead of that old-school mindset of prospecting, we wanna use prospecting campaigns where we have a number of steps that we take, each and every prospect through, so that way, as we're going through the process of trying to connect with a prospect, they're slowly but surely starting to meet us.

They're slowly but surely starting to understand who we are. So it's really reaching out to them in a number of different ways which we're gonna talk about here.

Bur thinking about how can we touch them in, let's say 15 different ways over the course of a couple of different months and then, by the end ... by three months in when they finally pick up that phone or they finally respond to that email, they know who we are.

Number 3, share valuable content.

This is really one of the most effective ways to slowly but surely start to build a relationship with our prospects.

The old-school traditional mindset about selling was that the buyer had all of the value really. They were the ones with the money and the purse strings And the sales person was just trying to get into that money. He was trying to get into that purse. And the modern mindset towards selling is we as sales people have a lot of valuable insight.

A lot of valuable content. Or companies can create a lot of content that can be really useful to the prospect, or to the buyer in a way that they don't even have to pay for that concert necessarily upfront, so share that valuable content. Maybe it's an ebook. Maybe it's white papers. Maybe it's some kinds of case studies, but sharing that valuable content is slowly going to help build a relationship with the prospect, before they ever get on the phone with you.

Because remember most buyers are doing at least 50% of their buying process before they even talk to us.

We've gotta make sure that we're slowly giving them insight that makes you say, "Jeez, I've really gotta talk to this person."

Number four, Sripted Prospecting Calls. I think so many sales people get really uncomfortable with this idea of scripted calls because they think, "We'll if I'm gonna be scripted, "I'm going to sound scripted." And so as a result when they actually get a prospect on the phone, they kinda meander, they go all over the place.

And they're very unlikely to be effective when they're doing that.

You want to script out your prospecting calls. You wanna know exactly what you're gonna say when you get someone on the phone. Do you know already exactly what you're going to be saying? If you do, great.

But if not, script it out. Just take 10 minutes to really write it out. At the very least just have some bullet points. But what I'm doing with every single one of my clients, is I'm making sure that they have an exact script that they're using when they talking to prospects. And then practice is what gets to sound not scripted.

You just have to practice it couple of times and make sure that it doesn't sound scripted. But make sure you know exactly what you're going to say by using that script.

Number 5, use voicemails to follow-up on the other methods. Now there's been a lot of back and forth over the years on the effectiveness of voicemails and there's ... Again, the reason why we talk about having many oars in the water, multiple oars, is we never really know what's going to work. But voicemails are a pretty effective way to just get on the prospects radar. Now I'm not suggesting that we leave a voicemail every single time we make a call.

But use voicemail as a way to just show that you're a real person.

When you send an email or you send over a package or you sent over something that's of value to them, follow-up. And if I don't pick up, maybe leave a voicemail and make sure that you know exactly what you're going to say and that you've scripted it out, And you're not just meandering and going on over the place, but use that voicemail to follow-up on this other methods that you trying to get through to the person.

Number 6, Email Sequences.

Particularly to my folks that are selling to a large Universe of prospects. Let's say you have a lot of different people that could be your prospective client.

Email Sequences are incredibly effective. And so what an email sequence is, is it's basically a pre-planned sequence of emails that are going to, essentially automated, will go out to the prospect. And by the way, it's not using constant contact or some HTML email service. I'm talking about from your personal email or your work email so it seems like a direct email from me to you but it's actually automated.

And so there are a lot of systems are there that do this.

There are a lot of CRM systems that already can automate these sequences.

But come up with a sequence of four or five emails that are sent over the course of a couple of weeks let's say that are following up on one another that seem personal and that maybe reference the specific company name and their name and make it feel like it's and authentic email. If you've got a big audience or a big universe of potential prospects, this can be tremendously effective. Because it's basically automating out a lot of that tough work. So the work that you have to do is make sure that your list is good, that the emails are right, that you have the rights names, that you have their company names spelled properly.

But other than that, then you just upload it into the system, and you just pump out emailed. Its so incredibly effective.

Number seven, LinkedIn messages to get through. Now people always wanna talk about social media and I think a lot of time social media is over-hyped in terms of its effectiveness with sales. LinkedIn is an amazing tool for sales people and if you're not using LinkedIn messages to get through to those tough to reach prospects then you're missing out because typically, LinkedIn is connected to a person's personal email.

And so if you're sending LinkedIn messages that are intentional, that are thoughtful. That reference specific things to them,. You're so much more likely to actually get through and get it read. So use LinkedIn. It can be through the sponsored emails or you can, if they're in your network of course, then you can just directly connect with them and send them a message.

But use LinkedIn in a way that's personalized, intentional, brief but as another way to connect with them.

Number eight, FedEx packages. Now I use FedEx as the example and FedEx doesn't give me money for this. But it could be UPS or it could be something else but there's something really powerful about sending a prospect, especially a high-level prospect, a package.

And particularly something like a FedEx package, it just seems like something that's important.

 

FedEx packages get opened. People actually open them because they're not gonna just throw them out. Even the CEO of a big company is likely to open a FedEx package. Maybe it has a book in it or something of value. Not just a sample but something that's valuable that they can actually use or get some ideas from.

Now you've got them in front of you. And then you follow-up with the calls.

You follow-up using the campaign but using those packages, really, really effective. Number nine, introductions..

Asking for introductions all day long. Now the data that we recently put together has shown that top performers are asking for way more introductions and referrals than average and bottom performers. And so I use the the term 'introductions' because I think 'referrals' is often confusing and unclear what it is.

An introduction is very clear. I'm asking you to introduce me to someone just like yourself who I might be able to help.

Asking for introductions all the time. Ask with every single person that you're in front of. Get as many introductions as you possibly can. And by the way, there's no downside to asking for introductions. And top performers are doing it at a much higher rate.

So be that top performer and ask every single person you're in front of for those introductions. Get them to connect you with other people.

Number 10, become a speaker. Now people always say to me, "Oh Marc, I can't be a speaker." "I'm not a great public speaker." Or "What's my expertise?" You are an expert in what you sell which means that you are an expert in solving the problems that your prospects face. Become a presenter.

Got to industry events or host private events where you are the speaker and you're not just giving a sales pitch, but you're giving them valuable insight.

And, oh by the way, at the end you can set up meetings as a result of that speech.

Becoming a speaker is ... I know it's a high-level concept, and a lot of people here watching this probably won't do it but if you have the guts, if you really have the confidence, You are going to be so much more successful because what you're doing is, you're getting in front of all of these people.

All at one time.Become a speaker.

Number 11, Targeted Networking. Now I think a lot of sales people will use networking as a way to get in front of prospects. But what I think a lot of people miss is really being targeted about it. Being highly intentional about where you're networking and what your goal is when you're actually networking.

So there's two forms of networking. There's networking with your prospects so you can join trade associations or some kind of a group where your prospects actually are there. And that's a perfect opportunity. Targeted, really hyper-focused networking. The other of course, is getting involved in groups, that are your own industry where you might be able to connect with people who could possibly connect you to other folks.

That's good but not as good as the initial really targeted networking where you're networking with your prospects. And that's a place where you an get involved, where you can really be specific and intentional about who you're looking to connect with.

Number 12, Publish Articles. Publishing articles is, again ... I know a lot of people are saying, "I don't have the time "to write an article". Fine, hire a writer who will actually write it for you.

But you give them the ideas. You give them the content.

And now that you've got these articles. Now you're an author. Now you can share the article with prospects. And what's cool about an article is that it doesn't feel salesy. It's not like a brochure.

And article has information and has insight and it's something that your prospects actually are looking to read because they looking for solutions to their problems. if you publish articles and then share them, send them out to people. You are going to just get on people's radar that much more effectively.

Number 13, Host Private Events. I talked about becoming a speaker.

So maybe you are the speaker. Maybe you get another person to speak but hosting a private event, where you invite your prospects. Maybe you invite some of your top clients to come. If it's a private exclusive event at a venue that seems important. Maybe it's a Ritz, or at a university club.

Or some place that feels exclusive ... Not just to your company headquarters, but invites people to come together, and you give them content. You give them real value.

Hosting these private events ... People want to go to exclusive events.

You'll be amazed with how many people re really willing to come to something if it feels exclusive.

Number 14, Sell deeper. Now we've spent all this time talking about, "How do I get new business?" But what about the business that you already have that could be much more business. Are you spending time really going deeply into your clients' world, understanding how you can be better helping them and at the same time making those sales, into much bigger sales. Selling more deeply.

A lot of the time sales people, they close a sale and then immediately go onto, "Okay, I've gotta close there next." But how can you sell more deeply into your existing clients.

They're already there. They already like you. They already know you.

How can you sell more deeply to those folks.

Number 15, Partner up. Identify other organizations that maybe sell to the same types of prospects that are competitive but they really do sell to the same people. And partner up with them. identify people that could recommend you and you can recommend them and you work together to really grow each other's business.

They've already got some Clients. You've already got clients. Partner up.

Make it a situation where they're benefiting from your relationship and you're benefiting from theirs. Partnerships are really, really effective when done correctly.

So think about, what are some companies that you could potentially partner up with that have a client list that's similar to yours where you could really have some synergy IN working together and cross-pollinating each other's lists. Partner up. So there are 15 ways to generate sales leads. And tons of them. I wanna hear from you.

Which of these ideas did you find most useful? Be sure to share below in the comments section to get involved in the conversation. And if you enjoyed this video, then have an awesome free ebook on '25 Tips To Crush Your Sales Goal'. Just click right here to get it instantly. Seriously, just click right here.

It's free. Also, if you got some value, please like this video below on YouTube and be sure to subscribe to my channel by clicking my face right here to get access to a new video just like this one, each and every week.

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Online Advertising: Crash Course Media Literacy #7

Online Advertising: Crash Course Media Literacy #7

Have you ever been window shopping? Just looking in the windows of stores...browsing?

Did anything from the store ever just...follow you around? You’re browsing for a new hat and see one you like, but pass it by.

Then in the video game store next door the hat is just...sitting on the shelf? And in the clothing store after that.

Looking at you. Following you. Last episode we talked about advertising, and the long history of techniques for getting us to buy things. In today’s episode, we’re looking at what happens when those techniques move online, where you might be followed much more than you think. In the olden days, before online shopping, stores didn’t know what you were looking at.

They couldn’t track your shopping habits and then place advertisements for stuff you like wherever your went. Hats were just hats; they couldn’t follow you around.

Traditional advertisements were contextual, they were put in specific places – or contexts – where advertisers expected people to be. Commercials during must-see TV, billboards along traffic-filled highways, pages in popular magazines. Places with lots of eyes and people with nothing else to do.

Advertisers had to jam all of the persuasive techniques and logical fallacies they could into expensive ads, and then HOPE the right people would see. But that was before the internet. And smartphones. And social media. And geolocation and cookies and pop-up ads and ad blockers and… Yeah.

It’s about to get scary. Old-timey advertisers didn’t know who would see their ads, and they also didn’t really know how well they were doing. Put up an ad for soda right by a high school, and maybe they’d have a rough idea of who walked by it everyday.

But they wouldn’t know how many kids actually bought soda. It wasn’t a total guessing game, but it wasn’t a science, either.

Because of this, advertisers targeted different groups of people, or demographics: teenagers, older men and women, business professionals, families, white people, black people, Asian people. Still, these groups are pretty broad. You could place an ad with a TV show that drew mostly female viewers or a radio program that had mostly teen listeners, but you couldn’t get too specific. So, ads had to be broad, too, and the products being sold were incentivized to be one-size fits all.

Anything too niche for a wide audience couldn’t afford to spend money on big, broad advertising.

Since the birth of mass media, advertisers have been looking for better ways to do this, to make sure their ads hit just the right people. Enter: the internet. In the early days of the internet, the ad world, was still just like print or TV advertising.

Ads were created to reach as broad an audience as possible. First came display ads – and like print ads, they’d just sit there on your screen.

And quickly advertisers tried to gussy these up: pop-ups (the worst) and animated ads. Everything to get attention. But the real innovation was turning ads into links. What happens when an Ad is a Link? It’s convenient.

See an ad for a hat. Click. Bam – you’re at hatstore.com.

But that also means hatstore.com can COUNT how many times that link was clicked. Advertisers no longer had to estimate how many eyes saw their ads or what they did in response. And for a while, the click-through was an unstoppable measurement tool. This brings us to: the web cookie, which made these ads even stronger. Cookies are like little breadcrumbs that websites and apps place on your device.

They follow you around the web and report back on your habits.

Suddenly advertisers could track who was clicking on those ads and where they’d go next. Did they browse the site? Did they download a coupon? Did they – – buy something?

They could figure out who those viewers were, their shopping habits, and even what their life was like. Pre-cookie, advertisers put their targets – that’s you – in pretty broad demographic buckets, but now they could narrow that immensely. Ads can target just 18-24 year old women with an interest in science who live in Brazil or 34-45 year old men who like soccer in Canada.

This is called addressable advertising, sometimes referred to as behavioral targeting.

Take a look around this video. Are you seeing any ads? If so, are they things you’re interested in? That might be because YouTube is using cookies to display what it thinks you want to see. Your recommended videos work that way, too.

Every time you use your phone or computer, you’re leaving data breadcrumb trails.

The websites you visit log your IP address a unique set of numbers used to identify your computer as you browse the web. There are other kinds of unique identifiers, too. They can track what kind of device you’re using, where you are, how fast your internet is, who else you follow. All kinds of stuff.

You may be thinking, “Isn’t getting better music recommendations and seeing actually relevant ads worth a few cookie crumbs?” The problem is, the websites and apps you do trust to use your data trails don’t keep it to themselves. Let’s take a deeper look at this in the Thought Bubble.

When you open up a new app or website, or login to a social network, you’ll often come across some Terms and Conditions. Sometimes they’re called Terms of Service.

These are the rules of the road. The company is telling you what you can and can’t do in the app – like use it to commit a crime, or share stolen work. But they’re also telling you what they will and won’t do.

 

Most of the time when we create a new account like this, we just check the box to accept the terms and conditions and move on. But companies know we don’t read those ridiculous documents.

Research even shows it would take us 25 days each year to read all the things we agree to. So, more often than not, we’re actually consenting to a lot of stuff we probably wouldn’t if we actually read the darn thing.

For example: Instagram. You think you’re using an app to share photos with friends and chat with them. The app’s Terms of Use say: You can’t post sexually explicit, violent, hateful, or discriminatory things on Instagram.

You can’t steal someone else’s login, or use your account for illegal purposes.

They have a right to kick you out if you break the rules, like spamming or threatening others or stealing someone else’s photos. Ok, that makes sense.

But their Terms of Use also say If they do want to kick you out, they can do so without warning. And afterwards all of your photos and data and comments will no longer be accessible through your account.

Despite their Community guidelines, they say they have no official obligation to take down any Instagram content. They don’t own your content, but you DO grant them a “non-exclusive, fully paid and royalty-free, transferable, sub-licensable, worldwide license” to use your content. In other words, they could use your photos however they want, including selling them to third parties. Doing so would be a big breach of trust, so they probably wouldn’t. But they could.

They use analytics tools that collect information sent by your device, including the web pages you visit. And they may use “device identifiers” on your phone to track your browsing habits to serve you personalized content or ads. With Instagram or any app you use, with the right clause hidden in all that legal jargon, your info can be sold to third parties, over and over again.

Then, advertisers can sell you more, better targeted ads. So when you absent mindedly check the box to accept god-knows-what terms and conditions, you’re often also signing away your right to privacy.

Right now, that info mainly goes to advertisers, but you can see how our ambivalent attitude around privacy could make us vulnerable to bad actors.

Or, say foreign influence on things like...you know...presidential elections. Thanks, Thought Bubble. Data tracking isn’t just used to serve you personalized ads, either.

It can actually determine what kind of content you see elsewhere. When we browse Amazon or Netflix, they provide us with suggestions based on stuff we’ve already seen. These recommendation engines, in a way, are advertisements. It’s showing you one show or product over another and, by extension, hiding others. The companies that use them certainly say they’re just being helpful.

But these can actually limit our options, and keep us boxed into the things big corporations want us to see. There are many different kinds of these low-key ads. But two really common ones are easy to overlook. The first is sponsored content. Sponsored content can mean anything from an Instagram post to a documentary, that an advertiser paid to make and publish.

It may not be obviously selling anything – like an article about taking care of your car, but paid for by a car company with its logo at the top.

Or it’s that weird list of outlandish, tabloid-y articles at the bottom of a more reputable site – like “you’ll never believe how they died” with a picture of a celebrity who is definitely alive. These are particularly hard to pick out, because publishers like your favorite magazines and websites, will place them alongside their own original stuff, the editorial content, so they blend in.

First: Learn to distinguish between ads and non-commercial information. Look for phrases like “sponsored content” “native content” “advertorial” or “presented by brand name here.” Celebrities and media creators may say they’re “partnering” with a brand – that means they’ve getting money to promote that brand. Even when you Google, scope out the tiny green “ad” in a listing that shows they paid to be at the top of the list. Second: if nothing else, remember this: when something is free, you’re the product. If you’re sitting through ads to watch a video, or scrolling past them on Instagram, that’s the price you pay to share photos and make vlogs shipping Kate Winslet and Leonardo DiCaprio IRL. Check through all your online profiles and see how much info you’re giving away.

Head to the settings on your phone and turn off geolocation features and microphone access wherever you can.

And next time you create an account, think twice about handing over any personal info. Create a dummy email address for that stuff if you have to. Finally, know that nothing ever goes away online. Sure, the internet may forget about your embarrassing photos and Snaps may “disappear,” but when you’re online, you’re being tracked.

It sounds scary because it is. The best way to navigate this hyper-targeted media environment would be to, well, log off. Forever. But we know you’re not going to do that, that’s why you’re here with us today. The next best thing is to be hyper vigilant about what information you share online and minimize it whenever you can.

Be wary of anything that seems free, because chances are you’re paying for it with your attention and your life story. Right now, the biggest internet and tech companies make the rules, and we all follow along because we don’t like to read long legal documents. But, with any new technology, there are organizations and policies that try to reign in the power of big players like Facebook and Google. Sometimes they’re successful, and sometimes...not so much. We’re going to learn all about that next time on Crash Course Media Literacy. Until then, I’m Jay Smooth. See ya!

Crash Course Media Literacy is filmed in the Dr. Cheryl C. Kinney Studio in Missoula, MT. It’s made with the help of all of these nice people, and our animation team is Thought Cafe. Crash Course is a Complexly production.

If you wanna keep imagining the world complexly with us check out some of our other channels, like Sexplanations, How To Adult, and Healthcare Triage. If you'd like to keep Crash Course free for everyone, forever, you can support the series at Patreon, a crowdfunding platform that allows you to support the content you love. Thank you to all of our patrons for making Crash Course possible with their continued support..

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Business Networking Groups: Are They Worth Your Time?

Business Networking Groups: Are They Worth Your Time?

So, you're considering joining a networking group? That's great news. I can't tell you how game-changing it's been for me to be in a number of different networking groups over the years and since I started my business. And there are a few things that you should know and should consider before joining a group. In this video I'm going to share those with you.

So stay tuned. So, you know networking groups have really been just they've just been awesome for me. Proximity is power. And what I mean by that is surrounding yourself by really great people can be a game-changer. It's really all about who you know not what you know.

But seriously, getting out there, getting connected and surrounding yourself with other like-minded successful proven business owners and leaders, it's a really invaluable thing. So, what you should know is there's usually 2 different types of networking groups. And basically, one networking group is like a true networking group. Meaning like you meet up and everyone's looking to give and get referrals.

Those are really good groups if that's what you're looking for.

When I first got started in business, I joined the group called LeTip. And basically, Letip is a nationwide, maybe even on a worldwide you know group at this point. I think you meet up usually once every week or once a month.

And the goal there is everyone it's all... You know, there's usually local groups all throughout your state. And you join a local group sometimes there's different chapters in your county depending on how big your county is. And basically you meet up and join up and everyone's looking to give referrals and get referrals. And then the second type of networking group is like a peer-to-peer you know, networking group.

Or there really it's not like a networking group it's they're more of like business groups.

And these are groups like EO. YPO. Vistage/ I'm a part of YPO. Stands for young presidents organization.

You have to be 45 and under to join. It's amazing powerful world wide organization. What's also great is a lot of those business groups. And there's all different business groups at different levels depending on what stage your businesses in all across the country and all across the world. Different speakers, different folks that come in and talk about you know, how to grow your business more effectively, what's going on today and a lot of really great helpful stuff.

I've just found that it's really helpful to get out of your bubble and get out of your business and get out of the day to day.

And be able to get connected with all these different things. Whether it's other business owners, locally. Whether it's other great speakers and business consultants, advisers and just hear a perspective in a different point of view. It's been great.

A lot of these business groups also do something where you meet once a month with like 5 to 8 other business owners. And it's like a mini board. And you meet up, it's usually a few hours long and you basically are able to talk about any business or even sometimes personal challenges that are going on in your life that are holding you back from getting your business to the next level. Again, that's something that's just been invaluable and is really helpful.

What's really cool is every business across the country no matter what industry you're in, we're all dealing with this a lot of the same and similar universal problems.

 

Whether it's employee, growing, financing, the next higher, office space, industry chefs, marketing. Everyone's dealing with all these challenges. So, getting out and here in different point of views and sometimes it's even better to hear from people outside of your industry because people inside of your industry are so biased and also aren't willing to make you know the necessary changes that you need to in business to keep growing. What's really important is you have to understand whether you're looking to join a networking group to give and get referrals or a business group to learn and better yourself and grow your business and surround yourself with great people. They're all a time commitment.

And you really get what you give. So, you have to remember that. If you're going to do one of these, it's a time commitment. And it'll never feel like it's the right time in your business. Like, "Oh, it's not the right time, I'm so busy." Well, if you're not busy, your business is probably dead.

It'll never feel like the right time, you have to commit, you have to do it. And I can't tell you the best things that I've done and learned, you know, about my business or have done in my business I've learned from being out of my business. So, some of the best things I've learned out of my business, I pulled into my business and they've just been you know, game changers. And I can't tell you how many other successful business owners have told me the same exact thing.

So, it'll never feel like the right time, you're always going to be busy, you need to commit. If you're going to move forward, commit, do it, make it happen.

I'll tell you all these things have been awesome at every single level. And then remember you have to give to get. So in these groups, if you're not contributing, you're probably not going to get back anything from anybody else.

So, it's really important that you're contributing. And also like anything else, when you're in these groups there's going to be people that you mesh well with there's going to be people that you don't that's normal and that's okay.

You also have to do your part and get out there and introduce yourself and speak and meet and build the relationships with other people. You're not just going to join one of these groups and everything's just gonna magically happen and you're gonna get all the answers that you need. The other thing to keep in mind is that these groups are great to help change your perspective on the help you know, some are really focused and hyper focused on business growth.

You know, when you're looking and vetting out one of these groups a year really understand what the whole point is of the group. What the time commitment is. I've also learned too that these groups aren't just gonna solve all your problems and issues in your business. You have to be the one that are still going to execute in your business. And sometimes you just need to bring in a specific advisor or consultant for specific problems or challenges that you've got going on your business to help you break through and get to that next level.

And remember, businesses are grind and businesses built on relationships. So, do yourself a favor. Get yourself out there get out of your comfort zone, start building relationships, join one of these groups and get your business to that next level. Thanks for tuning in to Grow By Joe, if you'd like to learn more about me and my team and my company, check out the link below in my description.

Please make sure that you subscribe to this video.

I wish you nothing but success in joining one of these groups and growing your business to that next level. Take care, talk soon..

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Business Networking: How to Build Professional Relationships

Business Networking: How to Build Professional Relationships

Hey everyone, it's Andy with this week's for Tips for Work and Life. Today we're going to talk about networking and specifically business networking and how to build professional relationships. I love this topic. I love this topic because I love people, I always like expanding my network. I love building new relationships.

I love learning from people. I really love helping people. But, for you all out there, no matter what your job is, over the length of your career, your network and it's health and strength is going to be your single greatest advantage in succeeding in your career. Sure, a lot of you start now, you have some smarts, some hard work, good job, all that sets you in the right direction, but over the long-term, over a multi-decade career that simple will not be enough to be truly successful.

So, want to talk about two major areas related in networking.

Number one, my seven key principles for how to do it successfully and then a five step plan of attack to execute those principles. And I think that's a big, big advantage for you is to know exactly how to do this. So, let's get right into those principles. This is really to level set us all. I know a lot of you know these principles but just because you know them doesn't mean you're going to be successful.

Let's get a running start with those. Number one, my first success principle on networking is, it's an all the time thing. You need to do it all the time. If you only do it when you need it, you're not going to be successful and most, most of the time, when you need to network it's already too late if you don't already have a healthy one, if you haven't already built it. So, that's number one it's an all the time thing, you need to be very, very consistent.

Number two, give first, give value first to the other people before you ask for something. And it could be anything, but whatever value you can provide, you're time, energy, education, favors, whatever it might be, but give them value first. Number three, you want to give more than you take. Put more into the networking bank.

Keep making deposits, keep making deposits before you make withdrawals.

You want to make sure that you're giving more, you build up a bank of good will, you start to earn a reputation as a giver, that's a really, really, key one.

Number four, this is about building lasting relationships and the only way you can do that, is to do it live. I know I'm talking to a camera, but you get the point, this is not an email thing. This is human interaction, dialog in person, or at least on the phone but you want to make sure that you're actually spending time, the other person can see you and hear you. So, you want to make sure that you're doing it live.

Number five, this is where you build trust, always follow through and do what you say you're going to do, whether it's provide them some information, make a referral, whatever it might be.

You want to make sure that you're known for having a good word. That your word is your bond, you are trustworthy, you are dependable. That's number five. Number six, you want to make sure that you are moving it forward.

You want to expand their network. If the interaction between you and me dies with you, you haven't helped me build my network. So, you want to make sure you're thinking, how can I help expand this person's network? Who might be good for him or her to know? You want to pay it forward, you want to move it forward, you want to expand their network, that is a big, big key to networking in general.

The point is for both of you or many of you or whoever you're interacting with, to grow your networks, to grow them, to meet new people. Number seven, even though this is human interaction, you still have to have a systematic plan that allows you to execute it effectively, you have to have a plan. We're going to talk for the rest of this video, we're going to talk about that plan but I want you to realize, these seven tenants, these principles that I just mentioned. I know a lot of you know them.

You've probably read books and seen blog posts.

Lot of them just leave you here. Well, that's great but that's not what's going to make you successful. What's going to make you successful is the first principle, be consistent, do it all the time and the last principle that I mentioned, you got to have a plan. So, let's talk about that. Now, I'm going to give you the plan that has served me well over multiple decades and I've been doing this for many, many years.

I have an extremely healthy network, this process works. Now, the first place to start, which many people, some can see this inherently but others don't really recognize this.

You have to set your networking goals. Just dialing up people, calling them and emailing them isn't going to get you where you need to be, you have to have a goal. And what do I mean by goals?

I think there's many goals but there's basically four worth mentioning now.

You might just want to educate yourself or advance your knowledge in particular areas or markets or industries, or whatever it might be. So, simple education could be a goal. camaraderie, sharing, that could be a goal. What about you job hunters?

Getting your next job, that could be a goal or some type of career related goal.

Or, maybe you're a business owner or maybe you're a corporate employee but you're looking to grow your partnerships and you're looking to grow your channels or you're looking to secure new customers. Whatever your goal is the first thing you need to do is identify it so you can fill in the rest of the plan so it's more direct.

 

So number one, what is your goal? Number two, then you head into research.

So, who do I know that might be able to move me toward that goal? And, who might they know who can move me toward that goal? Or, who do I want to know, that I think will move me toward that goal? And, do I know anybody or how can I get to that person? So, that I can communicate to him or her, develop a relationship, start building some value for them and some trust with them so that they ultimately can help me.

So, this is really, the second step is about researching. It's about putting out and trying to identify who you know, who they know, and who you need to know. And, it's really about what I like to call, building a relationship map. Literally, it could be a list of people, could be a diagram, whatever it is that you want to do but you have to build a relationship map.

Step number three, is once you collect a lot of those names and those individuals, then what I would do is I would try to identify somewhere between 60 to 100 people that you can connect with over the course of the year.

Doesn't have to be all at once. You're trying to build yourself a nice list of individuals, not everybody's going to get back to you, so you want to make sure that you're identifying the right people. You never know, they might help expand, by the end of the year you might have 200 people but just spend an hour a month just looking, gathering this research, trying to identify these individuals who can help you but you have to identify the individuals.

Number four, you want to start drafting the messages and the communications that you're going to use to reach out to them. Now, I'm not talking about putting static templates together for everybody.

I'm just talking about, you've probably got three or four consistent messages that you're going to send out to people. I would, depending on the strength of your relationship, you might just pick up the phone and call them. If you don't know them very well, you might want to send them a cordial email.

If you don't know them at all and they're a hard person to get a hold of, you might want to be a little more formal. But whatever your tactic is going to be, you want to have a couple of pre-canned messages that you can then tailor for each individual.

But, so that you're not constantly writing them over and over again, you want to make sure that you've got some templates. So, I would just spend some time, you only need to build those once. You can massage them however you need to whenever you get to the point where you're going to contact somebody in particular. And then, what I would do, step number five is, I would execute that plan. So, executing the plan for me is, at the beginning of every month, I go into my list of people and my relationship map.

I look at five people that I would like to contact, whether I call them or email them and I send them a message around the first of the month, just seeing if they want to get together, whether it's on the phone, lunch, coffee, dinner, whatever it might be, a Saturday afternoon, however it might be. But, you want to pick a handful of people, five or six folks that you want to reach out to. You want to send them your message and you want to give them about a week to get back to you. Everybody's busy and five people may sound like a little or it may sound like a lot but keep in mind, the goal here is to try and spend some time with them, not just shoot them a quick email.

So, you want to give them a chance, if all five of them get back, then you got to find some time in your calendar.

Now, all five of them might not. If they don't, after week one, reach into your list of people in your relationship map, pull another one out and keep going. And you want to do this, throughout the year and you can continually grow that list of 60 to 100 people, you can add to it. You can move people in and out depending on who's getting back to you.

But the point is, you've now got five steps and you could massage this plan however you need to meet your particular goals but the point is to have some specific regiment.

So, let's just review it. You want to make sure that you're directed, number one, you want to identify your goals. Number two, you want to do the research, you want to build a relationship map and you want to identify the individuals you want to reach out to and you want to target individuals who you don't know who you might want the to reach out to. Then, you want to gather and put a plan together for say 60 to 100 people that you can contact on a monthly basis throughout the year. You want to, number four, you want to develop your communications with them so that you can quickly grab the template you need and shape it for how you want to direct it to them.

And number five, then you want to execute. So, whether it's the beginning of every month, the middle of every month, the end of every month. You want to reach out to five to six people so that, with the goal in mind to spend some time with them to develop both of your relationships, build that trust, expand those networks and all those other principles that we talked about, so that you can also build deep relationships that'll help you over the long haul.

So, I hope that helps. Now if you enjoyed this video, give me a like, a comment and a share and if you are watching it anywhere other than my YouTube channel or the Tips for Work and Life blog, hop over to the blog or hop over to my YouTube channel.

I got tons of downloads, free eBooks, giveaways, free webinars and a lot more to help you with networking, your career, your job searches and anything else that you might need related to personal development. Until next week, have a great one..

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Email Traffic Profits Review WAIT Dont Buy Without MY Bonuses

Email Traffic Profits Review I 😱WAIT😱 Dont Buy Without MY Bonuses

Email traffic profits review hi there uh tommy olson here thank you for checking out this  review this email traffic profits review and so now i am going to go through the  safe space with you i will show you the great bonuses you get for just buying the fronted on  this email traffic profits review.

I will also show you the upsides and down save so you can  save some money and then um of course going to show you the back office so you see  how this product works so let let's get into it okay so here is the save space  start your own profitable business providing something that every marketer needs simply  to set up business model watch video below to find out more you can do that by going to the  sales page through the link below and start today for only 17 act now price can increase at any time  would you email traffic profits review.

Like to build your business and brand selling in  in-demand service uh and call topping the guy behind his product introduce himself  there and here it says become an authority in the industry and build a business and brand  some of the benefits of this business model uh email traffic profits review and he talks about reselling traffic and here's some pointers about the benefits with this product  100 tried and tested business model in demand service no need to own the traffic  build your email traffic profits review business.

And brand become a traffic industry  authority great networking opportunity runs from laptop or computer little outlay costs no need  for stuff and can scale in different aspects and you can check this page out to see more yourself  yeah here's what email traffic profits review you get when buying today email traffic  profits training tools and resources and so on ongoing support and updates and resell a  partner program uh that being said uh before i show you the back office of this product.

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purchased  this product okay so now i thought we should have a look at how the funnel looks like and up sales  and downsales and so on email traffic profits review.

So here we are on the av page and as you can see it launches  at the first of january 9 a.m est but let's have a look at the funnel email traffic profits review upsell one is a digital reseller master class contains all the training  courses are about different reseller business models and marketing methods  and so on and then there's a downsell for that affiliate marketing profits this course provides  training tools and resources that teach you how to profit from promoting other people products.

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That's training starts in different steps introduction to solo ad arbitrage  and find traffic providers on facebook find traffic providers on main platforms uh create  your own traffic service website and receiving and sending payments and traffic quality explained  and a video about invest in quality traffic software and recommended tracking software review.

Where to advertiser traffic services and social media branding for you and  your business scale your email business to new levels and start for your own affiliate program  proven your own traffic reseller service and always gain knowledge and educate yourself  lead capture and bridge page examples so you can learn how to set up that a good page good capture  and bridge pages scale your business and become a coach and his related tools and resources  and here's a video about record your personal notes  and so on and reseller partner program how you can do that uh the he addresses that's it's another example how you can  get this reseller product.

And sell for profit and here you get your partner program affiliate link if you don't have a worry  plus account then you can set up on free and hear different promotional uh tools and so  bonus templates marketing message and events website i feel that there's a lot of value in this  uh product not only how to build your list but you can start your own solo ad service that you can sell and so on there's a lot.

Of  different things you can earn money through through this product i think because you can create your own traffic website as well and become a solo ad  vendor and stuff like that so besides building your own list and promote whatever you want  and you can partner with him here so anyway now uh that you know what it's all about here's a  options to upgrade by the way and there you access resources and that.

They can take notes and that's partner program and you can contact support there  and so but now i thought i should repeat what you get access to when buying just the front end  you get a bonus tutorial first about easy passive price paydays  how to create passive income effectively and then you get a training on how to build a big  buyers list quick and the third bonus is 100 how you can make hundred dollars per day from your  phone from your smartphone and this get instantly delivered you inside of  warrior plus so if you like this review uh thank you by the way for watching.

And if you like this review then make sure to subscribe i really would appreciate it  and make sure to grab your bonuses and this product while the bonuses are all still there.

And thank you for watching have a great day bye Read More: Tired of Being Broke? How To Trade With A Small Account.

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Creating a Content Marketing Strategy

Creating a Content Marketing Strategy

Content marketing is definitely a lesser known marketing avenue than it's bigger, more popular cousins, social media marketing and digital marketing.

But that's not to say that successful content marketing is some kind of miracle cure. It takes a lot of time, effort and dedication to get it working the way you want it to, but it's sure as hell one of the best things you'll ever do for your business. So now let's take a look at why you need a content marketing strategy and how to build one that will take your company to the next level.

Hey, guys, it's Liv from Neighbourhood, where we help friends find cell and keep their people.

So first things first. Why content marketing? Well, people love content. Ask anyone for their favourite YouTube channel, podcast, Instagram account or blog, and you'll undoubtedly get a different answer every time. According to Ofcom, the average adult spends over three hours a day online with nearly two and a half hours on social media.

Internet users are constantly hunting for content to occupy that time, which is why content marketing is such a powerful tool. Not only that, the Internet is such a powerful front of knowledge because of content marketing. Think about it. If you've got a question, then your instinct is to, of course, head over to Google.

Let's say you're curious about what you should be feeding your new puppy.

You immediately get a snippet of the top result that gives you a quick answer.

But what many users don't always consider is that these top results are from companies that are trying to sell a product or service. For example, with this search, the RSPCA may be trying to sell pet insurance. So part of their marketing strategy is to create useful, authoritative content that gets their website in front of users to demonstrate their expertise. OK, so you decide to click on the first result from the RSPCA and it's got a ton of helpful information that helps you understand puppies nutritional needs.

Then one of two things happens. You close the tab and don't think about that website again.

But when it's time to insure your puppy and you begin comparing prices, RSPCA pet insurance stands out because it's a familiar name. Chances are you're more likely to choose it as a product because it's familiar or you see that this same website has advice on why it's important to clean your dog's teeth and what to do if your dog has a barking problem. You click on these links and carry on reading.

Before you know it, you've gone down an RSPCA sponsored rabbit hole that has taught you everything you need to know about your new puppy and probably the benefits of their pet insurance, too. So now you're more likely to buy their pet insurance product.

And that's why content marketing is so important. Sure, it's kind of a slow burn deal when you compare it to other marketing strategies like PPC, but it's definitely effective as a means to grow organic traffic and prove perceived quality and attention on search engines. But you can't really just go into content marketing with a wing it and see attitude.

While it's true that any content marketing is better than none within limits, just like everything in marketing, you need to have a plan and an overarching business goal.

Now let's look at types of content. There are a bunch of different content marketing strategies, most of which revolve around a different form of content. But if you're looking to learn content marketing fundamentals, then it's easy to get lost, wondering which type will work best for you. So let's look at the first one.

Audio - podcasts and audio books are great content marketing tools, if your buyer persona, doesn't typically have time to watch or read content, or if you don't have the capacity to execute on a written content creation process, whether that's because your audience spend a lot of time on the road, have an extremely busy schedule, or just don't like videos, audio content is a very efficient way to deliver content. Next up, video. YouTube, twitch, webinars and narrated slide decks, garner both traffic and engagement as a means to answer questions in a dynamic, visual way. Video content can range anywhere from a few minutes long to a few hours, depending on the subject. YouTube videos are typically under an hour long and webinars two hours or more.

Now let's talk visual content. Infographics, slideshows, checklists, social media graphics. The list really does go on with visual content. Graphic content like this isn't always considered a solo thing, particularly as things like swipeable graphic files can be considered lead magnets in their own right. But it's a great way to represent things like facts and statistics, in an easy to digest way.

And lastly, written. As far as examples of content go, it pays to get your author on! Blog posts, emails, quizzes, white papers, social media posts, captions and more; written content is the most easily recognisable in content marketing and it garners massive organic traffic for a reason. From in-depth guides to quick explainers, this format of content strategy is as old as the Internet itself, but it is worth mentioning that it's best suited to users who regularly have the time to read. As you might expect, if you're enjoying this video, be sure to subscribe and leave a like.

And if you want to make sure you hit that bell so you can stay up to date on all of our latest videos delivered every single week to your inbox.

OK, so now that you've got a rundown of the different content types, let's take a look at how to build a content marketing strategy that knocks your marketing goals out of the park and puts you on track for success. Step one, who's buying? Yep! Just like with your other marketing strategies, you need to know who your potential buyers are, who's going to be buying what you're selling.

 

But what content marketing tips often forget to tell you is that buyer personas aren't exactly the be all and end all of content marketing tactics. While there are going to be people reading your content because they're curious about what you do and what your product is, if you're only focussing on the people you know about, that's a huge chunk of your audience you're potentially missing out on addressing.

Step two, think about your goals. You can't start a journey without knowing where you're going. I mean, you can, but it's not ideal, is it?

So once you've figured out how your potential customers are and who's going to be reading or watching or listening to your content, you need to figure out what you want them to do. Of course, that's going to be buying your super awesome product or service.

But there are a few steps you need to take before you get to that point. You need to know why you're creating content far beyond just wanting money. Do you want to improve your lead generation so you email marketing and social media content starts to generate more revenue?

Do you want to increase organic traffic with optimised content marketing campaigns? Do you want to establish yourself as a thought leader in your industry and drive more profitable customer action? Do you want to advertise your products without feeling weird and spammy about buying advertising? No matter what your goals are, you need to get to grips with them now before you get started.

Step three - know where you're at.

Now you've got your goals and customers in mind, you need to know what you've got to work with. If you've already got a website set up for your business, then you need to run a content audit to see how the content you've already got is performing and how it stacks up to others in your industry. If you're planning on publishing content through social media, then it's also worth looking at all of your previous posts to see how well they've performed. Content audits might sound a bit scary, but they're surprisingly simple once you know what you're doing. The problem is that they're lengthy and they do result in a ton of data that you need to know how to action.

Step four - the format.

We're now starting to get a clearer picture of your content strategy, but there's still one major thing you need to decide on, and that's what format your content is going to take. Like I mentioned earlier, different formats have different benefits, and the one you choose needs to be tied in to what your audience wants. So if you run a business teaching newbie investors on how to build their stock portfolio, then chances are that a podcast would be the best option for your content marketing strategy.

Step five, the calendar.

OK, so now we've got a plan coming together. But you know what they say it's not official until it's in the calendar. It's OK that if right now you've not got any solid idea about what you want to talk about in your content, but you should at least get it plugged into a framework or a content calendar so, you know, when it's going to be published. You should also carve out some time to create your content in your schedule. I know this can be tricky when you're busy running a business.

So even if you're planning on outsourcing your content, make sure you've got enough time during the week to put together briefs and review the content that's coming back in. Step six - it's time to get writing. As a rule of thumb, we like to suggest that businesses have two to three months of high quality content ready to go before they publish for the first time. If 2020 showed us anything, it's that anything that can go wrong will go wrong.

And if you're the only person in charge of your content marketing strategy, you need to have backups and resources in place in case you can't get your content on time or something goes wrong.

Step seven, it's time to distribute. Once you publish your content, then it's time to start linking it through your social media channels and your email marketing lists using your all important content calendar. Just like with the format of content you chose earlier, you should be distributing your content through the channels your audiences already use, whether that's Facebook, LinkedIn or Twitter. Make sure you tell as many people as possible about your new content. And lastly, step 8 - time to check.

After a few months, make sure to check your content metrics to see how well it's performing.

This is the best chance you've got to evaluate your efforts and make sure you can get things better next time. And that's it. You're now well and truly ready to drive quality traffic, lead generation and a world class experience for each stage of the customer journey with the content marketing solution that will meet both your budget requirements and your objectives. So if you found this video helpful, feel free to share it with someone that you know that needs a hand with their content marketing strategies.

You could also subscribe to our blog, where you'll find a bunch more tools, tips and templates to Help you Find Sell & Keep your people, just like Neighbourhood does. And that's it for me. Happy marketing..

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Capacity Factor

Capacity Factor(Full Lecture)

Good day and welcome to BigBadTech. I'm your instructor Jim Pytel and today's topic of discussion is, Capacity Factor. Our objective is to introduce a common performance measurement known as, Capacity Factor. We'll learn how to calculate capacity factor and discuss how capacity factor influences energy production. This lecture operates under the presumption the viewers have watched both the energy and power and efficiency lectures, both available at the BigBadTech channel.

If you haven't watched these lectures yet or didn't recall their contents, please take the time to do so now. Let's start this lecture on capacity factor with a brief discussion about how awesome I'm. When I say that I'm awesome, I mean I'm totally awesome. I do awesome things all the time and I do them smoothly, confidently with style i.e.

Awesomely. My dirty little secret though is, there have been periods in my past that have not gone so awesomely. Not only have I crushed and burned, I have crushed and burned upside down, backwards and sideways, both personally and professionally in manners unimaginably embarrassing. The point is, not everybody can be awesome all the time, even me. If you were to measure performances as a single snapshot on one particular day, you might get an artificial inflated or deflated sense of how things are truly going.

I'd like to think my history of awesomeness, outweighs my brief but intense periods of non-awesomeness though. When taken together, places me squarely on the awesome half of the dividing line. This holistic measurement of performance taken over time is known as Capacity Factor. Capacity factor measurements aren't single instantaneous snapshots but rather, they are indicated with performance over time. Capacity factor is a measure of how often power generation facilities like wind turbines, hydroelectric dams and coal fired power plants run at full capacity.

To calculate capacity factor, one determines the time the facility actually does run at full capacity and divide it by the time the facility could have been running at full capacity.

Theoretically, all facilities could operate 60 seconds of every minute, 60 minutes of every hour, 24 hours of everyday and 365 days of every i.e. All the time. Obviously, this is way to much to ask of the real world where things can and do go wrong and capacity factor is the measure of how close the generation facility reaches this ideal standard.

Capacity factor is typically expressed using a percentage although in practice I tend to ditch the percentage and think in terms of a ratio of Did over Could. If the answer needs to be expressed in percent format, you're smart enough to shift the decimal point as needed.

Point 8, 5 is 85%, 35% is point 3, 5 and so on. Express graphically, we can visualize this as a triangular relationship of capacity factor Did and Could with Did at the apex and capacity factor and Could side by side at the base. To solve for capacity factor, take the time the facility did run at full capacity and divide it by the time the facility could have been running at full capacity.

Solve for the time the facility did run at full capacity. Take capacity factor and multiply it by the time the facility could have been running at full capacity.

If the facility really does run at full capacity for 24 hours a day, it runs at full capacity or 100%. If however the facility typically runs at full capacity for only one hour a day, the capacity factor is one over 24. Which expressed as a percentage, is roughly 4.2%. Capacity factor is a critical performance measurement for generation facilities because capacity factor affects the amount of time the facility is available to generate power. If energy is power times time, capacity factor affects the time variable in this equation. A generation facility operating more often, will generate more energy than one that runs only occasionally. Let's try a couple of illustrated examples of simple capacity factor calculations.

Consider an industrial wind turbine. So you're no doubt aware, some days it's windy and some days it isn't. Let's say this is a two megawatt wind turbine that typically operates at full capacity for only six hours a day. The capacity factor of this wind turbine is Did over Could or six over 24 or 25%. If energy is power times time, on a typical day this turbine would be expected to produce two megawatts times six hours or 12 megawatt hours or 12,000 kilowatt hours of energy.

Considering however if this same turbine was installed in a slightly windier area with an increased capacity factor of 35%. An algebraic rearrangement of the capacity factor formula suggests this turbine is typically at full production for 35% of 24 hours or 8.4 hours. Again, if energy is power times time, this turbine with a higher capacity factor, typically produces two megawatts times 8.4 hours or 16.8 megawatt hours or 16,800 kilowatt hours of energy.

Compare and contrast the energy output of the two similarly related turbines operating and reads with different capacity factors. The higher capacity turbine can be expected to produce 4,800 more kilowatt hours everyday a little than the last windy area. If the owners were selling the output of this turbine at wholesale price of let's say four cents per kilowatt hour, the turbine with the increased capacity factor would generate 4,800 times four cents or 192 dollars more each day than the one with the smaller capacity factor. If this pattern repeats itself for 365 days or a whole year, this turbine with a higher capacity factor, would have generated 365 times 192 or 70,080 additional dollars.

This is the example that's intended to illustrate capacity factor has a profound impact on the economics of energy production. It is for this reason that the wind resources of a proposed wind farm must be thoroughly investigated before development. Windier regions result to wind farms with higher capacity factor and more profitable results. Let's try a slightly more sophisticated example of capacity factor calculation. So you're no doubt aware, wind speeds can vary from gentle breezes to full-force scales.

The nominal or nameplate power of our a wind turbine is experienced only at a particular related speed typically around 12 meters per second. In the previous example, we assume the two megawatt wind turbine in a higher capacity factor area, experience exactly 12 meters per second for exactly 8.4 hours. In reality, it might be startlingly different. Wind turbines operate using something called a power curve typically defined by three points.

The cut-in speed, the rated speed and the cut-out speed.

The cut-in speed typically at four meters per second, is when the turbine actually starts producing power. Between the cut-in speed and the rated speed, power output increases. At the rated speed typically around 12 meters per second, the turbine generates it's nominal or nameplate value, in this example, two megawatts. Between the rated speed and the cut-out speed, power flat lines at the nominal value and finally at the cut-out speed typically around 25 meters per second, the turbine shuts down and prevents damage.

Let's say 10 meters per second, this turbine is up and it's only 1.2 megawatts.

Let's now take a look at wind's speed as a function of time for a particular day. To keep this problem manageable, let's say this turbine typically experiences wind speeds of 10 meters per second for two hours. Then six hours of 12 meters per second at greater land and then the wind throttles back to 10 meters per second for another two hours.

If we're asked to calculate the capacity factor of this particular turbine, we quickly run into a complication because although the turbine is operating for 10 hours of everyday, so it's has been running at full capacity for six of these 10 hours.

How can we calculate capacity factor or for a resource with variable output?

Simple, think not in terms of time but rather energy. How much energy could this turbine have produced verses how much it did actually produce.

Theoretically, two megawatt turbine running at full capacity for 24 hours a day will produce two megawatts times 24 hours or 48 megawatt hours of energy.

In actuality, this turbine produces less. For the first two hour period of 10 meters per second wind, the turbine produces 1.2 megawatts times two hours or 2.4 megawatt hours of energy. For the middle six hour period of 12 meters per second of greater wind, the turbine produces two megawatts times six hours or 12 megawatt hours of energy.

Finally for the last two hour period of 10 meters per second wind, the turbine produces 1.2 megawatts times two hours or 2.4 megawatt hours of energy. In summation, the turbine produces 2.4 megawatt hours plus 12 megawatt hours plus 2.

 

4 megawatt hours or 16.8 megawatt hours on energy in total. What's the capacity factor of this turbine if it could produce 48 megawatt hours of energy a day but in reality it only produces 16.8 megawatt hours of energy? 16.8 megawatt hours over 48 megawatt hours is the capacity factor of 35% as previously.

This is to imply that although the turbine experiences periods of variable output for a variable length of time, in this case two hours at 1.2 megawatts, six hours at two megawatts followed by another two hours at 1.2 megawatts ultimately appears as if it was operating at full capacity for 35% of 24 hours or 8.4 hours at two megawatts.

Either scenario, the real variable output or the simplified version results in the production of 16.8 megawatt hours of energy which is 35% of what the turbine could theoretically produce. What's nice about capacity factor is that, it's a super convenient way of estimating energy output for a particular facility without getting bogged down in excessive details like the availability and variability of a generation resource, maintenance schedules, unplanned outages or regulatory curtailment. Consider a massive hydroelectric dam consisting of 16, 50 megawatt turbine operating in a 50% capacity factor. This most assuredly does not mean that for 12 hours of everyday, the river is quite as a pod and the next 12 hours turn into a raging maelstrom of white water and so all the 16 turbines open up to full capacity.

It doesn't even mean that eight of the 16 available turbines run at full capacity all day. It does however imply that the dam over the course of its history typically produces enough energy as if it was running at half capacity all the time.

In reality, we might expect the dam output to fluctuate daily and seasonally throughout the year. For example, water might be intentionally spilled to aid in fish passage, navigation or flood control. Certain turbines might be periodically inoperable as they undergo maintenance repair or upgrade and certain turbines may run at reduced capacity for longer periods.

Ultimately, capacity factor takes into account all this occasions which the dam does not run at full capacity such that it automatically produces half the energy it theoretically could produce. Given this capacity factor and name-plate power rating, it's a very simple matter of determining the typical daily energy output of this dam. If all 16, 50 megawatt turbines were operating at full capacity, this dam would produce 16 times 50 or 800 megawatts of power.

If it did this for 24 hours a day, it would produce 800 megawatts times 24 hours or 19,200 megawatt hours of energy or more appropriately, 19.2 gigawatt hours of energy each day.

It doesn't. The capacity factor figure of 50% tells us the dam typically only produces half of that per day. Half of 19.2 is 9.6 gigawatt hours of energy.

All of this without having to worry about reservoir levels, seasonal fluctuations of flow rate, maintenance schedules or bagged traffic.

Capacity factor is a quick means of estimating how much energy a facility can regularly produce. Again, energy is power times time. Massive power plants with large capacity factors produce massive amounts of energy. A nuclear power plant might fit this description.

Smaller power plants with low capacity factors produce small amounts of energy. The small residential photovoltaic array, might fit this description. Speaking of photovoltaic arrays, consider a small three kilowatt residential scale PV system installed in a house in a relatively sunny area of the country known to produce 5,037 kilowatt hours of energy annually.

What's the capacity factor of this PV array? Obviously a solar resource will have a capacity factor of less than 50%.

This is sun only shines for roughly half the day and during those times it is above the horizon, it will shine with varying intensity and experience varying cloud cover. Theoretically, this plant could operate 24 hours a day. Three kilowatts times 24 hours yields 72 kilowatt hours of energy each day. If it did this for 365 days or a whole year, it could theoretically produce 26,280 kilowatt hours of energy each year. Capacity factor is Did over Could.

5,037 kilowatt hours for 26,280 kilowatt hours, it's a capacity factor of roughly 19.2%. This implies that the solar array produces enough energy as if it did run at full capacity for 19.2% of a day, or roughly 4.6 hours.

This most assuredly does not mean that the sun immediately rises and shines at full intensity for roughly 4.6 hours and then immediately sets but rather the sun shines with varying intensity for varying periods with varying cloud cover such that it ultimately produces an equivalent amount of energy as if it did shine at full intensity for only 4.6 hours a day.

For solar resource measurement, this span of time is what is commonly referred to as peak-sun hours but if you think about it, it's just another method of expressing capacity factor. 4.6 hours is 19.2% of 24 hours expressed using the time format, peak-sun hours just makes it easy to quickly estimate the average output of the solar array of a given size.

Those of you with a calculus background will realize the energy output of the array, each day is the area under the power curve. Three kilowatts times 4.6 hours yields the daily block of energy with an area 13.8 kilowatt hours. If you squint your eyes just right, both scenarios, the real varying output in brown and the mathematical equivalent in light orange, yield the same energy output I.e. Area under the power curve. I'll be at calculations employing the peak-sun hours simplification is much much easier.

All things being equal, this three kilowatt array ultimately produces 13.8 kilowatt hours of energy each day or 5,037 kilowatt hours per year whether the sun shines with varying intensity for varying periods of time or if immediately pops over the horizon and shines at it's full intensity for 4.6 hours and pops below the hills, plain in to the world into total darkness.

We'll examine PV systems in peak-sun hours in greater detail in later lectures. For now, you should simply appreciate that peak-sun hours and capacity factor both influence the amount of time a facility is able to generate.

There is simply different methods of expressing the same quantity. Before we bring this lecture to a close, let me remind you as I hope this examples I've illustrated, facilities with high capacity factors generate a lot of energy and as a result, they are more economically successful. If you're in the energy business, even a small increase in capacity factor reaps tremendous financial rewards. It is for this reason the intelligence scheduling of routine maintenance and timely repair of critical systems during periods of high resources availability are so important.

Alright, that's about it for today.

In conclusion, this lecture present a capacity factor calculations. Well, capacity factor is a performance measurement of how much energy was generated verses how much could have been generated. Remember to review these concepts as often as you need to really drive it home. Imagine how well lab will go if you know what you're doing. Thank you very much for your attention and interest.

Let's see you again during the next lecture of our series. Remember to tell your lazy lab partner about this resource and be sure to check out the BigBadTech channel for additional resources and updates.

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