Thread by @ComedicBizman

(A THREAD)

7 Costly Business Mistakes That Are Fucking Up Your $$$s:

I should be 10x more “successful” than I am right now.

I mean, I’m doing good. Haven’t worried about $ for a long time.

But I’ve fucked up. A lot.

Fell off the boat. Hit my head on rocks that resided at the bottom of the ocean. Costly mistakes? I’ve made a ton. They’ve set me back.

And what’s crazy is…

I see a lot of people making the same mistakes.

Yet they don’t listen. Nobody does. Until it’s too late.

And your lifeless body hits the bottom of the ocean. And the blood of regret pours out of you.

Don’t let it get there.

Avoid these 7 costly mistakes (or pay for it):

1) Thinking In Months Instead Of Years/Decades

Most businesses being built aren’t sustainable.

But that’s fine.

If you have $0, don’t worry. Do whatever to make money. Usually the businesses that won’t be around a decade from now are the easiest models to make money from.

So start there. Make your $.

But once you do, don’t get complacent like me.

Use your $’s to enter businesses with higher barriers to entry and build a long-term business that functions WITHOUT you (don’t create another “high-paying” job for yourself). This is where the real money is made.

Me?

I thought in months for too long.

Was making very good $$$s today at the expense of tomorrow.

2) Not Building Businesses With Compounding Gains

Your business should grow in momentum each month.

Why?

Compounding gains.

Brand should be growing. Knowledge expanding. Landing new clients with ease. And they should be giving you referrals via word of mouth. And you should be selling more to existing customer base so you can outspend competition to repeat this entire cycle. Over and over again.

If you’re not (and you’re starting back from 0 every month), something is wrong.

Fix it.

3) Doing It Alone

Slow way to make your dreams come true: Work 12 hours a day x 0 employees = 12 hours of productivity

Fast way: 8 hours x # of productive employees = BIG Gains

A lot of people shit on having employees.

But it depends on what you want.

If you want to *create* a high paying job for yourself, build you biz alone.

If you want to build a business that makes $ without you, build systems and hand them off to employees to execute.

4) Shiny Object Syndrome

You’ll easily win if you just pick ONE THING and work 4 hours each day for 6 consecutive months.

The problem?

Most don’t succeed because they don’t invest enough time in ONE thing to develop pattern recognition.

5) Thinking An Idea Or A Business Model Is Going To Make You Successful

It’s not.

Only you can make yourself successful.

Which means:

Your success depends on your skills.

Build some. Get paid.

Or hire people who have the skills you need (ultimate shortcut).

6) Not Building A Personal Brand Sooner

I always ask myself:

“What’s ONE THING that once done will make everything else easier or unnecessary?”

The answer for me was:

Building a personal brand.

Why?

Gives you leverage. Lots of it.

I’m not talking about being able to leverage your PB to create a course, either.

Nah.

That’s great and all, but I’m more interested in building a PB to capture attention and attract top talent + a specific type of high-level client.

7) Working In The Business. Not On.

Your job as a business owner isn’t to launch ads…

Or write copy…

Or work on client gigs…

Or run traffic...

It’s to create a machine that does all the above WITHOUT you.

Strategy + Systems + Processes = BIG $$$s on auto pilot

(END)