Myth of More Knowledge More Profit Pt. 2
The Myths of Building a Successful Business | Part 3
Previously we chatted about how to determine if a workshop is right for you. In this post, we’ll continue in the vein of Mo’ Knowledge Mo’ Profit...Can you tell I’m a Biggie Smalls fan?
Most likely, you’ve had a chance to fill out the worksheet. How did it go? If your answers are fluffy to any of these questions, well, my dear, you simply have to buckle down and get to work. Or as my good friend Ruby says,
“Running a business isn’t supposed to be easy. Quit complaining and get to work.”
That said, I continuously feel like I need to acquire more knowledge in order to stay on top of my game. The compulsion to acquire new knowledge never goes away in fact. This may be the same for you.
Let’s say that you want to take a course on how to grow your audience on (choose one): Instagram, Facebook, Email Newsletter.
How can you be sure that the workshop will help you grow a thriving business? In that case, I found it useful to use the FIVE WHYS questions to gain clarity.
Why 1: Why do you want to grow your audience on Instagram?
Because I only have XXX followers and I need to increase my following three-fold to generate more strategic meetings/visibility/traffic to my website/etc? Measure what you currently have and how this course changed it.
Why 2: Why should you increase that number?
Because all my colleagues have higher followers on ______ and I want to have higher numbers too? This is the knee-jerk reaction to a lot of questions. An alternative may be “1% of my Instagram followers can be converted to brand advocates. I want 50 of those ______(insert the location in which you run your business), hence I need 5,000 real followers”. Note the internal focus and the tie to my SMART goals.
Why 3: Why do you want brand advocates?
Because they become my defacto sales team, talking about me, my products and they generate a social buzz on my behalf. In turn, I’ll be at the same level as my peers.
Why 4: Why do you want to compare yourself to your peers?
Because we all compare ourselves to our industry leaders. If my SMART goal is to be in the top five of my industry within two years, then I need to have a yardstick to compare myself to.
Why 5: Do you want to be an industry leader? Why?
Because I want to be recognized as one of the top five authorities in my field. Because I want to generate a revenue of XXX and a profit of YYY. Because I want to run write a book, run webinars, etc.
The more questions you ask yourself, the closer you get to the real reasons why you are hiding behind education. Is it because you want to grow your business, are you taking refuge in the land of busyness or perhaps because you want to feed your ego?
You see, business decisions made without a clear quantifiable goal or outcome means that you are unfocused. By delaying clear and consequential action, you will be busy being busy.A business decision made without a clear quantifiable goal means you are unfocused. #coffeebarblog Click To Tweet
Taking a class for business is good, just don’t forget to take a course for fun. For example, I’m taking knife throwing classes. Why do you ask? Because it’s fun. And honestly, I feel like a superhero throwing knives at a cork wall. Throwing knives releases my aggression and weirdly puts me at peace when it comes time to sit down and concentrate on making incremental moves to build my empire.
If you’re going to take a class for fun do so. Just be sure that as you’re building your empire you are asking yourself clarifying questions. Be sure to answer those questions honestly so that you are building a solid foundation for your business and not a foundation built on sands of myths.