You Need to Work on Your Business
As a business owner your biggest focus is running your business. And with good reason, your business is yours–at the end of the day it is your baby, and you are responsible for every single aspect of it. This makes keeping the doors open, and keeping it running smoothly and successfully your number one priority.
So, even if you build a great staff around you, you end up doing a bit of everything. You help develop leads, worry about the financials, go on sales calls, etc. It’s not from a need to control everything, it’s just you are the one with the hands in all the different areas, and so it’s you putting out all the fires that inevitably break out.
The problem that arises, however, is that you end up spending all your time working in your business, instead of on your business.
How to Work on Your Business
Great, so we’ve identified the problem that arises when you are too deep and too often in the trenches of the day to day operation of your business. But what does it actually mean to work on your business?
Put simply, it means that you are finding new and efficient means to grow, find new markets, find new clients. It means developing systems that allow you to find new customers or clients as easily as possible. Because in the day to day trenches of your business, some clients and customers will inevitably, on occasion, be lost.
You mitigate this by ensuring your business has a steady stream of potential and new clients to both grow your business, and to take the place of any clients that you may lose. In other words, if you are looking to scale or to rest easier, the way you work on your business is through developing a consistent, successful, and measurable marketing system.
The Old World of Marketing
Marketing is one of the best ways you work on your business. It is the best way to make sure your business stays successful, sustainable, and scalable. But a lot of small businesses are hesitant to throw much or any money at marketing.
This is because marketing used to be a black hole you chucked money into, hoping blindly that it would spit some value back out at you. You spent money on ads or signs and then went about working hard in your business, not knowing if any of the customers that bought your product were doing so because of your ads, because of word of mouth, or just because they knew about your company for 10 years and just decided, “today is the day”.
In other words, marketing was a gamble. In terms of your ads or billboards having an effect, you may have had a correlation to new or additional business, but it was virtually impossible to prove causation. You couldn’t measure its success, but it was something you “had” to do because “that’s how companies grow”. This is where the feeling of a black hole that sucks in money, and only maybe giving you something back arises from.
But we live in a new world now.
The New World of Measurable Marketing
Digital marketing is a term that is thrown around almost constantly in the business world today. But for all intents and purposes, digital marketing is just marketing. The new marketing.
Marketing and advertising, whose success can be tracked and measured. Where you can see near exact correlation and causation between the money you spend and the customers it brings in.
Digital marketing is how you work on your business, instead of just working within it. You build your brand and show your company to be an expert in your field by building a website and putting out articles, videos, client testimonials, and any other form of content you can produce. You then use that content on social media to build an audience both organically and through paid ads. That audience is then yours for future, highly targeted, product ads.
And the best part is that, during this whole process, you are able to measure effectiveness. You can measure how many people visited your website or bought your product as the result of a blog article. You can measure how many people came into your store as a result of a Facebook ad campaign.
Digital marketing allows you to establish yourself as an expert, offer varying amounts of free value to people, and build people into loyal and returning paying customers and clients. And you can measure it all along the way to make sure you are spending your money correctly.
Marketing is an Investment, Not an Expense
At the end of the day, you need to start viewing marketing as an investment and not an expense. Because that is what it is. Marketing is not a black hole to lose money in, on the contrary, it’s the only way how you are going to make more money for your business.
So hire awesome people, find some time to get out of the trenches of your business’s day to day activities, and work on your business. Show the world your brand and what you can do for them. And measure the success of your work all along the way.
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