Last updated on March 7th, 2022. Posted in Additional Business Ingredients.
There's a big business mistake to avoid -- in fact it's easy to avoid. The thing is, you've gotta of course know what it is ahead of time so that you don't make this huge mistake...and that's what we're gonna nail down in this video.
Here are links and resources mentioned in today's video. Enjoy!
Okay so let's dig into this big business mistake. And here it is: A fatal mistake that we can see all too often is this: Copying what we think is working for other people. Here's what I mean...
We see people who appear to be successful online and we think, "I want to be successful like that too. I should do what they do."
Maybe they're big into dropshipping or affiliate marketing or something else...whatever it is, we think, "I should do that too"...and so, we copy what they're doing.
You know, when we're starting out we're impatient...and we're hungry. We want success SO BADLY. And this has us "enthusiastically" chasing trends, hot strategies, and whatever we see other people doing.
One of the hardest things I think most newbies struggle with is patience. Really, it all boils down to doing just 1, 2, or maybe 3 very simple, basic things over and over again over a prolonged period of time.
Otherwise, as you might guess, chasing fads or trends or copying what we see other people doing creates all sorts of problems.
First of all, it creates a crowded marketplace. If lots of people are offering a particular product or are using a particular monetization method...then things get real crowded, real fast.
And say it's dropshipping you're doing -- if what you're selling is pretty much identical to what other sellers are offering, then what you've got for yourself is a commodity.
That is, you're selling a product that's indistinguishable from what your competitors are selling. What you're selling offers no unique characteristics or attributes.
And 9 times out of 10, this means that the only characteristic you're left competing on is price. And that leads to a slow downwards spiral where you and your competitors essentially try to starve each other out...
...whoever can survive the longest on the thinest profit margins wins.
Now I don't know about you, but that isn't the sort of business I'd like to run for years and years.
Here's another problem with chasing fads, trends, and copying what others are doing: It means that you're primarily chasing money.
And if you're chasing money, than what that means is that you're setting "money" as your sole driving force. It means that things like your customer's needs, having a sense of purpose, and your own personal fulfillment in your work come in second, third, and fourth.
And when we make chasing money our primary objective and ignore our customers needs and our own personal fulfilment, what this means is that it's only a matter of time until we quit.
See, what's going to happen is you're going to hit an obstacle or a challenge or a roadblock -- or maybe a series of them. This is totally normal. It's just how life is.
And if you've got money and your needs as your driving factor, eventually you're gonna hit obstacles that are MORE painful than your need for money.
Like, if your need for money is a "7," the pain and frustration of the obstacles is a "10." In other words, continuing forward is MORE painful than quitting.
This happens all the time when we've got our priorities out of whack.
So what can we do about it? Well, we can re-arrange our priorities. What if you could create an online business around work that you *actually* enjoyed? Work that you could see yourself doing for years and years and years?
And what if you put your customer's needs way ahead of yours? What if you served the sorts of customers that you *actually* enjoyed being around?
See, with the power of this peer-to-peer network called the internet that we all have access to, there's no reason to do work we don't enjoy. Online, we can reach people all over the world -- the exact sorts of people who value what we do, who we want to serve and work with.
And when inevitable challenges and problems come up, because we enjoy doing what we do so much, and because we enjoy working with and serving the people that we do...
...quitting is MORE painful than continuing.