A Profound Business Question

A Profound Business Question Video Transcription:

Thomas Green here with Ethical Marketing Service. Today I would like to ask you a Business question. Which I found to be highly profound when I heard it.

When you’re in the last few years of your business career, will you be as dependent on bringing in the new customer as you are right now? Or will you have created something which does that for you?

The reason I personally found that profound, was because previously I had favoured certain marketing strategies like buying leads over others. Based on what I could get from them right now. But if I didn’t replace that method eventually, I’d still be doing that 20 years from now. And all that time would have passed and I wouldn’t have built anything to replace it.

I have some examples for you, they may not all apply. But normally a slight change in your business and you can make them apply. Some of them are not new concepts. But if you put some time into building some of these, over a business career timeframe, they would be a considerable asset. Which could free you from being dependent short term tactics.

First is a customer list, it doesn’t really matter if its email or physical mail. But providing you put some time into building it and you have a good relationship with the people on your customer list. Over a long period of time it can be a major asset for you.

Next, a social audience (like subscribers or followers) is the modern equivalent of an email list. If you built up an audience of people on a social media platform. Providing that particular platform is still in business, you could build a pretty monstrous following over that timeframe.

If you have expertise on something, books are another way of creating assets for your business. I have just finished The No-Nonsense Google Ads Book and the release date is the 1st of July. I plan on doing a book a year. So, that at the end of my business career, I would have quite a collection of assets that the company will own.

I was hesitant to put this next one in based on what we are going through at the moment. But a yearly event of some kind can be a way of starting small, having it as a meeting between like minded people. Then as it grows over time, it can turn into something that hundreds of people attend each year. In almost all the types of events I have attended, they all have their story of starting with a few people, look at us now. All that comes with the caveat that there isn’t a pandemic going on of course.

If none of these appeal to you, a systemised business where you don’t have to work in it if you don’t want to is something to aspire to.

Maybe the business you are in now, allows you to get into a business that you want to be in. That would be difficult to get into otherwise. Often businesses morph into different areas. If you can get into a business which has a higher barrier of entry, that may also help you.

Let me know if that was as beneficial to you as it was for me. If you need any help with your marketing, or would like a free consultation go to…  ethicalmarketingservice.com and I’ll speak to you soon.