Tales From the Online Marketing Crypt #17
To make net profits, stop doing these 3 things in your business!
“Waste not, don’t want.” “A””Don’t lose your breath. “A””What a waste time/space/energy.
You can go on and on. I’m certain you’ve heard them all.
My pet peeve is time wasting. I’m a system person.
My Dad, a farmer growing up, decided to control the thistles in the back pasture. Pesticides were not a common practice back then, but child labor was.
He sent me out to pull every thistle stock from the field one summer. Armed with leather gloves of adult size, I sat down on the field and grabbed the large prickly stalks near the base. I tugged hard to get rid of those suckers. I had to capture every bit of root; otherwise, the weed could grow back.
That project took me all summer to complete. Or so my childhood memories have deemed. The nettles were thickly rooted into the ground so it was difficult to remove them for this 10-year-old.
They all returned the following summer to maintain their dominance in the field.
It was a huge waste of time.
Do you ever feel like your business is wasting too much? I often encourage business owners to stop wasting the following three things when marketing our services.
1. Time was wasted
2. Spending Money
3. Wasting Energy
Let’s take a look at each area and see what resonates for you.
It is a waste of time
Entrepreneurs often waste their time trying to learn something outside of their expertise.
We all figured out somewhere along the way that we needed to know how to build a business.
Is that possible?
Even if one has a Masters in Business, do they really know how to do everything? They would certainly know what needs to be done but not how.
Businesses can’t be created by one person. They require a team.
Companies need to delegate expertise to others who are experts in the areas that the founder isn’t. Even though I can use a calculator, it doesn’t mean that I am a mathematician.
You don’t really know what you don’t know, and that’s okay. You are perfectly fine. It’s just a matter of learning to delegate.
I asked other business owners to share their worst business mistakes in a Facebook group. You will find their answers throughout the piece.
Christine Awram, the founder of Woman of Worth shares her valuable advice on how to do everything yourself.
“Too many hats, not staying focused at what I am most talented at, letting others shine in areas that I’m weak in. Micromanaging and doing everything comes with a price, which is burnout and unintentionally pissing off people LOL. This was a difficult lesson that I learned many years ago when I believed I could do everything.
Attending countless webinars was another waste of time, which I fell for often. This is not my only mistake! Teri Holland, NLP Master Coach and Trainer Teri Holland wrote:
I wasted a lot time and money on weekend seminars that were of no value. However, I felt a “FOMO” if the seminar was not attended. I felt deflated each time I left the seminar. It didn’t deliver what it promised and was a sales pitch to a larger program.
There are also some great ones! I am more selective about how I spend my money and time now, and have stopped looking for the next shiny deal.
Jenn Biddlecombe, Inner City Flooring in Coquitlam, mentioned the time-waster you might have also experienced.
I wasted my energy trying to get my family to support me in the beginning. Only you and only you care about your success.
Spending Money
Who hasn’t spent money to pursue their dream business? Yes, I have.
Like Teri, my spending on courses and programs didn’t produce the results I expected. These courses could have been taught by me and I would have added more value.
There are many other areas where you could lose money, aside from paying for courses and programs.
I’ve had to deal with this problem many times: hiring the wrong people for my team. This can lead to costly mistakes, whether you’re hiring sub-contractors, employees, or contractors.
And I’m not alone! Martin Jongejan, ZOOM Home Cleaning Experts owner, expressed frustration in this area.
“I spent too much time and effort trying to make my team succeed, more than their success in their roles. It was like pushing a rope. It is important to have people in your team who understand it, want it, and are capable of it.”
