The Knowledge Advantage

When Mark Cuban started his first company (IT consulting), he was worried his prospects would know more about the industry than he did.

Cuban didn’t want to be exposed as an outsider with no experience.

So he crammed before meetings. Cuban read every trade magazine so he’d sound credible.

In meetings, he’d throw out tidbits here and there related to what he read.

The result? He was always the most knowledgeable person in the room. Cuban called this the “Knowledge Advantage.”

Here’s Mark:

”I expected them to say: “Oh yeah, I read that too in such-and-such.” That’s not what happened. They hadn’t read it then, and they still haven’t started reading it. Most people won’t put in the time.”

It’s the same in the industry you sell into.

You’ve probably never done your prospect’s job. So if you’re reaching out to a Director of Analytics and you’ve never worked in retail, you can feel off balance.

If you read 2-3 books, magazines or listen to podcasts on the industry you sell into, you’ll be better informed than most of your prospects.

It’s relatively easy to know enough to be dangerous.

Are you dangerous?

Are you an insider or an outsider?