Many of my clients impress me.
There are multiple reasons for this, but here is a key mindset I was thinking about recently.
They think like investors instead of day laborers.
What do I mean by this?
There are different aspects to this, but here’s one good example.
Most of my clients have some type of continuity in place. Some are monthly, but others are annual. Either way, they’re creating members instead of just customers. And those renewals drive a good portion of their income.
Several of these clients, the ones who are growing the fastest, are willing to invest in advertising even when they’re consistently going negative.
This is true even for the ones with annual memberships.
Of course, we optimize their advertising, improve their conversions, add additional income streams, and everything else you do to build profitable funnels.
But…in those businesses…they’re essentially losing money on every new customer who comes through the door. They focus on the lifetime value of the customer, because their first net profits on a customer won’t be until at least the 2nd year membership fee is collected.
That requires you to think like an investor.
They’re investing for the long-term return and the overall value they’re building in their business.
It impresses me, because it’s always been tough for me personally to run advertising when having to go negative for too long.
Yet, it’s often a requirement when you want to scale your ads and your business past a certain level.
It’s why they’re growing so fast.
In fact, when you see a company that seemingly comes out of nowhere, it’s often because they had venture capital behind them so they could invest in ‘buying customers’ at a loss initially to grow their brand.
And this is just one aspect of thinking like an investor instead of a day laborer.
You need a similar mindset when getting started with content marketing.
Those first few videos you produce for your Youtube channel aren’t likely to take the internet by storm.
There are ways to get more views and more subscribers to your channel, but it will still seem like a slow process in the beginning.
During that initial phase, you might feel like you’d be better off working for minimum wage at Burger King. At least then you’d be getting paid for your time!
What are you willing to invest in your business?
And what are you willing to endure before you see a return on that investment?
Those are key questions to ask yourself.
Because let’s face it.
Growing an online business isn’t easy.
You will face challenges.
Many people aren’t prepared for the journey.
But it’s worth it.
You can make a difference in the lives of others…and you can create a lifestyle of freedom for yourself.
