When I wrote my original post about the podcast interview last year there were eleven comments on Jeff’s post. It’s been over a year, and there are twelve. It’s pretty obvious that the podcast was for me.
The message of the podcast and the book Business Brilliant by Lewis Schiff deeply resonated. I shifted gears and began to focus on profitability in my marketing and branding business. My blog writing went onto the back burner. (FYI: I wasn’t hibernating, but I’ve come up for air.)
I wanted to report back to Jeff and Lewis: I did what you instructed and it worked. There are three key points that I took away from the podcast.
Key messages in Jeff’s podcast and in the book (that made the difference for me):
1. Imitate, don’t innovate in your business.
2. The idea that you ‘pursue your passion and the money will follow’ is false. People who Schiff has interviewed who have done well for themselves and their businesses have indeed followed their passion, but then they followed the money. (Someone might take this as greed and money hunger. Truth be told, our local grocer has no plans to hand out loaves of bread for free. He charges money for it. Neither has the coffee shop next door started giving out coffee for free. Yeah, charging for these goodies is simply good business.)
3. Having a new idea for a start-up is not that impressive. The execution of the idea is what separates the winner from the loser. (Schiff is audacious enough to title a chapter in his entrepreneurial book with this name: Mastering the Mundane. Not exactly appealing to entrepreneurs. Read it to find out how cool that really is. I’ve learned to increasingly appreciate it.)
I’ve come to somewhat disdain new ideas.
I say Amen to what John Maxwell said this week when he spoke live in Canton, Ohio: “Don’t tell me what you’re going to do—show me what you’re going to do.
The main shift
The biggest difference came in mindset. Moment of truth: I realized that it’s important, nay, essential, that my business is profitable (and that means money) and everything changed. It’s necessary to follow after the money. No, not to be greedy. But to be wise.
I was bolder when I met clients and quoted prices. I was quicker to bring up pricing and budget. (Thanks also to Sandler Training and Sales Trainer Jordan Mullet for their help on this.) I cultivated the perspective that, I have given my best on this project. It is OK for me to be profitable.
The proof is in the results
I reaped the blessings.
First quarter 2015 v. First quarter 2014: 301% increase in sales.
Second quarter 2015 v. Second quarter 2014: 101% increase in sales.
Third quarter 2015 v. Third quarter 2014: 43% increase in sales.
Yeah, that’s what I’m referring to. There’s a difference.
Thanks, Jeff and Lewis. You made a difference for me. Thanks for your help.
I’d be delighted to hear what you’ve done to be profitable. Please comment below.