Most people will reply, “Of course, I’m already investing my time, my energy, and my money into my company.”
But often you’re only doing so because of a “hope” you may have to succeed.
Instead, step outside the moment. Pretend you’re not personally involved in this company. Pretend you haven’t invested anything in it yet.
Detach yourself from the emotion of “your thing” for a moment.
Think like a venture capital investor.
If you were an outside investor, would you invest in your company and website?
Let’s say you had $100,000 to invest…would you invest it in this project?
Or could you find somewhere better to invest your money?
It’s a good question when you think about it this way.
I’ve seen many people who don’t have a plan. They’re simply are holding to “hope” that their project will work.
There is no real point of difference benefit working for them.
They’re not willing to do the work it takes to examine the competition and find a weakness to capitalize on.
Instead they’re just doing “their thing” and trying to build a business.
We could even change this scenario a little. What if you were to present your ideas to a bank or a private investor? What would you do to persuade them to take a risk on you?
You wouldn’t come at it with just hope and a dream. You’d analyze the market. You’d compare the competition. You’d figure out a competitive advantage to work from.
And you’d present a SPECIFIC step-by-step marketing plan. You would write down how much you plan to spend. And you could tell them WHY you feel this plan will work for your business.
You would even look for PROOF to back up these projections.
A lot of people hold to the dream so tightly, they’re terrified to ever look at the reality.
The dream is real. People are living the internet lifestyle today. I never dreamed life could be like this back when I was first getting started.
In fact, I’d even go so far as to say the reality is better than the dream. Because it also comes with enjoying what you do.
But the reality is it is a LOT of work to fulfill the dream. It doesn’t fall in your lap.
And that starts with a plan. Would your plan stand up to the scrutiny of bankers and investors?
And if not, why not?
Have you done these projections for your own business?
Have you done the basic numbers?
How long is it likely to take to make your project successful?
How much will you have to invest before you break even?
Those are important questions to ask yourself.
And I know if you’re just getting started for the first time, they’re hard to answer. It often seems like any project takes twice as long as you expected…and costs more than you thought to make work.
That’s why Dr. Glenn Livingston and I put together the “Choose Your Market” course with a full spreadsheet to help you run the numbers.
It shows you how to pick a market.
It then shares with you how to run the numbers in that market about whether it fits you or not.
And it gives you a way to estimate the investment required (both money and time) to reach your goals.
It can help turn your dream into a reality…
And it does so with real numbers based off what others have to used to succeed in their markets.