Ultimate Pleasure vs Ultimate Sin – Quite often as Small Business Owners we are confronted with those Short-Term Pain Vs Long-Term Payoff scenarios. The question I think is what do we end up doing in those tender moments?
Almost 7,770 words and my Small Business Marketing Book is getting there! I hope you enjoy this fine section which I have seen many either get this wrong and lose out – or get it right and kick butt! Hope you love it and thank you from Edward Zia!
10. Short-Term Pleasure Vs Long-Term Success
This is a massive area where I have seen hundreds (if not thousands) of people struggle with their Small Business Marketing and General Success. All too often do I see many make Short-Term decisions (that even sound questionable) with that move often having the consequence of robbing their Medium to Long-Term future.
This can include behaviours such as:
• People not investing the money into their business, e.g. Cheap Dodgy Business Card that make them look bad.
• People not working hard because they don’t feel like it, e.g. They get “Bummed Out” and stop selling.
• People just spending on stuff they don’t need or say putting a holiday spend in priority over business investments.
And the list goes on. One thing I have seen time and time again is this strange “Holiday Fallacy” that people enter. When it comes to their business and their future, let’s say it costs $300 to print some high quality business cards and cheap ones are say $100. They will go ahead and do the cheaper option to save money and starve their business of the love and help it needs. BUT OH NO, when it comes to a holiday, nice flights, destinations, rental cars, blowing $350 on just one meal is quite common.
Why do people do this? And I mean they are intelligent people too. My own belief is that it comes down to what people think their business actually is and what it means to their family. If you say have the belief that your business is your retirement and the lifeblood of your family (as I certainly do) you naturally treat it with nothing but respect as you would a physical possession in your home. But, if you heart is not in the job or you think your business is just some “Cash Cow” to fund yourself, then your behaviour tends to put luxuries and entertainment over sensible business investment.
The Top Self-Made Multi-Millionaires I work with (including ones with the millions in Pound Sterling) completely get this. Of course they know to have a party and have a great time, BUT they know the difference when it comes to expenditure and where it is just a luxury and when it has a commercial payoff. The clever ones also know how to meld the two – so you can have an awesome time in a commercially sensible manner (which is what I like to master!). This brings me to my next point:
Crazy Persian’s Small Business Marketing Tip #10:
“Awesome Business Owners spend with their Long-Term Interests at Heart”.
Do you buy that expensive trip or upgrade your computer systems to work faster? Spend that extra $150 on better business cards or a night on the town? And then instead of “OR” thinking, can you take your clients out for a night on the town and have fun and make money at the same time?
Either way, your long-term interests are critical! You never want to rob the future to pay for the present. How can you spend your precious pennies today so it makes you nice fat dollars tomorrow? This type of commercially rational questioning combined with strong decision making to me is a critical component of entrepreneurial success.
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