In today’s episode, I’m tackling three strategies that are guaranteed to hinder your business growth. These are not just mistakes that are made sometimes, but approaches that 90% of entrepreneurs fall into at some point. I’ll be discussing the impact of organic social media and why solely relying on it for business growth isn’t the best approach and what you can do instead (even with little to no budget). I’ll also be getting into the nitty-gritty of investment in business and why being proactive about investing in the right opportunities is crucial for success. Lastly, we’ll look at the #1 things that stalls progress in your business and how you can avoid falling into the trap.
Tune in to gain valuable insights and avoid these common pitfalls.
- Three Common Mistakes in Business Growth Strategies:
- The top mistake many entrepreneurs make that can slow down their business growth.
- How to leverage limited resources to make a maximum impact on sales and marketing strategies.
- The key to validating your business offers before making a significant investment.
- The Power of Investing in Business Growth:
- Unlocking the potential for massive growth through strategic investments in your business.
- Discovering the pivotal role of mindset and belief in determining the success of business investments.
- How to navigate the fine line between making bold investments and avoiding unnecessary risks.
- Overcoming Information Overload in Business:
- The importance of discernment when consuming business advice and avoiding decision paralysis.
- Insights into limiting information intake and focusing on actionable strategies for business growth.
- How to avoid the common pitfall of becoming overwhelmed by conflicting sources.
Ways I can support:
[FREE] Get access to our top marketing strategies + marketing predictions for 2024, 40+ top converting ads, plus access the full strategy that took our Client of the Year to multiple-6-figures: https://hirshmarketing.com/playbook
Tired of inconsistent revenue & marketing strategies that leave you overwhelmed? Apply & book a call to see how we can help: http://helpmystrategy.com
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READ THE EPISODE TRANSCRIPT
Hello, you guys! Welcome back to the podcast. Happy Thursday if you’re tuning in live. I’ve had a great start to my new year; I hope you guys have too. I feel like it’s been a really good balance this year of that harmony of structure, routine, and really just diving in all the habits and daily things I want to do and commit to with myself—from my workouts to my goal plans to how I’m eating. But I’ve also had a good amount of flow and lack of structure. I’m not on 75 hard, which, for me, is actually a win. It sounds really funny, but for the last two years, this time of year, I’ve been on 75 hard, and I love 75 hard. But for me personally and for my goals and who I am, it’s just too rigid, and it’s actually not healthy for me because being really rigid, I don’t have a problem with that. Like, I am extremely structured, and I need to balance that out with more flow and other components like meditation and play and non-productive things, honestly.
So, I have this kind of mini version of 75 hard that literally includes in it 15 minutes of play every day and my meditation and 1 hour without my phone. So I made my own version, which does have a little structure because it’s, you know, do this every day, but it feels really good.
I saw this clip the other day from Glennon Doyle who wrote, she’s a very untamed woman, ‘Untamed,’ yeah, and then ‘Love Warrior.’ Love her books. Don’t agree with everything that she puts out, but I love her writing, and she’s hilarious. I saw this clip of her podcast where she was talking about how it was very hard for me to surrender to love. I had to schedule it in my calendar, Thursday from 7 to 9 a.m. I’m going to surrender to love, and I was like, that’s literally me, like, scheduled in my calendar to do nothing and be spontaneous.
Anyways, let’s dive into today’s podcast episode. So, this was inspired by one of these points was inspired by a call that I was on in a mastermind that I’m in, and a question somebody else was asking. And it inspired kind of like what not to do to grow your business. So, then I kind of went on that theme because these points have been very present for me lately. So, these are 3 things not to do to grow your business that are very commonly done. It’s not just like, oh, this is a mistake you could make. Like, 90% of entrepreneurs do these things at one point. The first one, which is what came up in the conversation, and I’ve seen this hundreds of times, is posting on social media and just hoping it eventually attracts people.
I see this a lot for people who are more in the beginning phases of a business, and they don’t have the marketing budget, and so they don’t have the marketing budget. They don’t have the funnel, or they don’t have it yet, or they don’t have the funnel built, and they haven’t done that work, but they really want to get sales, and they want to get sales as quickly as possible. So, their solution is posting a bunch of content, and we all know content takes a lot of time. It’s really time-consuming to create good content on social media, and the question that came up on this call that I was sitting in on was around, like, what do I do with the algorithm? What hashtags could I use? Like, how can I get more people to my page? And while, of course, it’s a valid question, and I’m sure there are definitely strategies that you can implement for social media, my opinion—and not everybody’s going to agree with this, but this is my opinion based on my own business and experience, clients, and just overall organic social media is such a slow way to grow your business. Like, trying to put energy and time into posting one to 2 posts every day and creating amazing content and having the perfect hashtags and getting more followers, I mean, yeah, it will probably give you some momentum, but it will be so slow.
My advice—here’s my advice. It’s 2 part. If you literally have $0 to invest in your marketing and your business, and you’re going to listen to my second point, if that is you, you might have $0 to invest. If you are in that position, then, in my opinion, the best thing for you to do is to force yourself to have a conversation every single day with an ideal customer. And you might be like, well, how will I find them? Well, what if I told you you literally have no choice and you have no other option, you have to find them, okay, like you will die if you don’t. I know that’s extreme, but just think about it that way, like you have no choice but every day for the next thirty days to go have a conversation with your ideal customer. Okay, what would you do? Like, what are the ideas that you’d come up with? You may be going to Facebook groups, you would reach out to people that you might know who might have connections for you. If you have no money to spend on your marketing, you can post on social media. I’m not saying it’s bad to have some posts, maybe like 2 or 3 a week, but don’t count on that to be the thing that grows your business and just keep pouring this energy into trying to hack the algorithm or figure out the algorithm and figure out the hashtags and create all this content because it’s so much work. Instead, what I think is put that energy into having conversations to get some sales to then take that money and then put it in ads.
And if you don’t have 2 parts of this again, but if you don’t have money, that’s what you would do first. If you do have some money to spend, do you know what’s going to do so much better? If you take a piece of content and you follow my strategy with visibility ads and you spend $5 a day, and you promote that content to your ideal customer. And now, this one single piece of content that took you thirty or forty minutes to make is reaching thousands of people because you’re spending $5 a day. Now, there is a piece to this on fully being ready for ads. You do want to usually sell your offer first to validate it because unless you can spend money on ads to validate it, which is another strategy where you spend money on ads and you use that to get people in a funnel to get leads to get traffic to an offer and see if it converts or not. But if you can’t afford that risk, then you’re gonna go have those conversations with 30 people over 30 Days. You’re gonna get feedback on your offer through those conversations, or you’re gonna sell your offer, and you’re gonna take that money, and now you can justify ads.
If you are like, I don’t even have time to have those conversations. Well, then you need to come up with the money to invest in ads because ads are the fastest amplifier to getting traffic, but they also will only amplify something that is working. They’re not going to amplify something that is a terrible offer or the positioning is off, and sometimes you don’t know that until you get the traffic, right? So you have options here. But the first thing I’m saying is how not to grow your business is counting on organic social media because it is extremely slow and a time suck. The other areas you could put that time, I think, have a bigger payoff and try to get yourself to get those first few sales and then be able to invest in your business because once you get the first few sales to an offer, like, let’s just say the first 10, then you know people want this offer. So putting money towards getting more traffic to it is a very positive investment in your business, and you’ve proven that foundation, and it’s going to go so much faster to put that money into it and massively. Like I’ve had so many people in our essential program be like, I just got more leads in five days than I have in a year in my business trying to do this organically. Organic is just so slow. I’m not saying don’t do any organic, like I have an organic social media presence, but I do it from a nurture perspective. I do it because I run ads; I spend 10 grand on ads a month in my own business. I run ads, and I want people as they find those ads to have a place to go to be able to build a relationship with me.
We see some growth on social media, and I do have strategies for it, but to be honest with you, I see the most growth by doing my strategy, which is run an ad, get new leads, and send those leads to my social media and bring those people over there. So for me, it’s a nurture strategy, not really a growth strategy, and so I think it’s okay. Now you will have—it’s okay when used as a nurture strategy, not counted on as a number one growth strategy. You will have those people who go viral on social media and crush it. There are those accounts. There are a few accounts that I follow that are in, like, the homesteading and gardening space, and they’ve only done organic. I have friends who blew up organically, and they haven’t run ads yet. We have a client who has a multiple 7-figure business and has never run ads and just came to us to run ads, and I’m like, you’re sitting on so much gold because you’re not running ads. That’s rare. That’s really rare. Like, it’s possible. But it’s rare, and if you go back in every single one of those journeys, something probably happened to kickstart that.
They either got some sort of visibility through another person’s brand; they had a post that accidentally went viral; they started eight years ago when it was easier on social media; they’re in a niche that’s not very crowded. Like, there’s some thread that you could find in why they did that. That’s hard to repeat, not impossible, just hard. So, I’m saying your time is likely better spent not trying to pour into counting on organic social media as your number one way to grow your business and trying to hack the algorithms and hack the way Instagram works because it’s a waste of time to do that. Okay, the second thing not to do to grow your business—I’m very passionate about this one, and it’s come up as a reminder for me several times in the last few weeks as I have witnessed other entrepreneurs. So, I just kicked off my mastermind, and throughout this process, I probably had 50 or 60 different conversations with women considering joining. So, I talk to women at all different areas of their business. We have people in the mastermind who are at multiple 7 figures, multiple 6 figures. We have a few that are at not under $10,000 a month. They’re not there, but they’re fully committed, all in, and willing to invest, and a thread stuck out to me.
All the women that I talked to who were in the multiple 6 and 7 figures were not afraid to invest in their business and their growth when they knew that an investment was like a no-brainer. It felt right. You know that feeling where it’s like, I know if I do this, this is my next move, this will help me get to where I want to go, this will give me the information, this will give me the knowledge, this will give me the coaching, this will give me the support, whatever it is, and they do it anyways. Even though it’s uncomfortable, making a big investment is uncomfortable because our mind likes to tell us all the ways that this could completely screw us over, and then there are some people who listen to that and some people who don’t. And I am telling you because I have had so many conversations, I’ve also witnessed so many clients, hundreds and hundreds of business owners, and myself included, I would say this is something that has 100% contributed to my success over the last eight years is investing in my business and my growth. If you wait forever to invest in your growth out of scarcity and fear—if you come from a place constantly of scarcity and fear—you’re basically already saying, like, I don’t think I can be successful; I’m not going to invest in my business because I don’t believe I can make money; I don’t believe that this investment will pay me back. Now, there’s sometimes that an investment is not a good idea if you feel like an investment is a bad idea, and you’re like, this doesn’t feel right, you guys know what I’m talking about you can feel it in your body, this doesn’t feel right; this feels off; something feels pushed, forced here, like don’t invest in those things. But when you have an investment that’s in full alignment and it’s like, yes, like I know that this is going to make a difference, you got to jump all in. You have to because you will figure it out, I promise you, so waiting forever to invest in your business, what happens is I see those women, I’ll go back and talk to them in six months from now because they’ll want to join my next round, and they won’t have made any money because they’re already operating from a place of scarcity.
Now, I talk to some women who are like, I can’t join this round. It doesn’t feel aligned for me this round at this time, but I know the price, and I’m joining next round, and I know exactly what I have to do, and this is my motivation. That’s different than just operating from a place of scarcity and being like, well, I don’t think I can be successful, and so, therefore, I’m not going to invest in myself because this will come up not just in a mastermind; this will come up with hiring a team to support you, hiring an agency eventually, like, there are so many investments in business. And I have a lot of friends who make a lot more money than me, and constantly, they are investing. They are investing in their own personal development. They’re investing in their team’s development. They’re investing in different business ventures. And do those investments work out every single time?
Absolutely not. No, I’ve lost money over investments. Are you kidding me, like? Whether it’s the wrong team hires or something, you know that I signed up for that really didn’t do what I thought it was going to do. Like, that is part of the game, but you figure out how to make it work when you have. When you’re at this place where you know if you make this investment, it’s going to make a huge difference and bring you into that next level, you got to do it and then you got to figure it out. Business is honestly a game of investments that lead to positive ROI because everything is an investment. Your team is an investment, like everything.
You invest in your business; time and money need to lead to a positive ROI of either more time or more money or your time back. Both of those things are ROI, so business is a game of constantly picking and choosing which one of those things you’re going to put your energy and time into and money to get the most out of. The people who completely paralyze themselves and pause, I promise you, they’ll be in the same place in six months because they’re already looking at their business and their life and everything through the lens of scarcity and through the lens of not believing that they can make the money. I have made investments where it was a big stretch, but I knew it was right, and there was some trust in there, and it’s always worked out every single time. It’s always worked out every time. It’s been. It’s felt like a stretch, but it’s been like I know that I have to be there, or I know. That I need this support or I know that this coach is the right thing for me and it’s been a stretch or whatever, and every single time it’s worked out like every time, no questions, all right? So that’s the second thing, the third thing not to do to grow your business is get distracted. This is something that I also see very often is people who, and it comes from a good place. It’s people who they don’t know what to do next in their business and so, and they’re afraid of making the wrong choice or decision and so they go seek a ton of information, podcasts, books, following people on social media.
Maybe even buying courses or hiring coaches and they get all of this, like, mixed Intel. And then they’re so overwhelmed that they have no idea still what to do and, like, 1 makes them question another. The problem with this is most people, like, majority of people, unless you. Get done-for-you help, like you have a team member or you’re getting someone to do something for you or you’re getting a direct consultation or coach who knows your exact business and you’re getting advice. There are nuances that make their advice not relevant to you and it’s really. Like discerning what to pull out and what to not versus directly replicate so the way I like to look at this is, first of all, anytime you get advice or you see a social media post or a popular podcast or you read a book and it has all this advice in it. The intent is never to take that word for word and go implement it into your business. A skill that you have to develop is understanding what to pull out and what to leave because you are unique.
Your niche is unique. Your offer is unique. You have different skill sets and most importantly, you are most likely at a different level in your business. So I just said this to someone the other day who asked me what my daily routine was how did I structure my day. Because she wanted to structure her day like that because she wants to be successful and I said you cannot replicate how I structure my day it would it would never work why? Because number one I’m at a completely different place in my business than you. I have 22 employees and you have 0 right. So what I do in my day. It’s going to be different from what you do in your day number two. I am different than you I operate differently. My creativity comes differently like there’s no way we’re exactly identical so instead of trying to pull the tactics of exactly what you should do to replicate. What I do to make that equal success look at the principles and what I do every day is I go into my day and I’m proactive versus reactive. I’m intentional with my time and my energy. I have boundaries around what I’m doing in that moment and committing only to that. And to your day and that will help you be successful. This is the same with marketing. This is the same with business advice.
This is the same with what offer to sell like there are principles that are relevant for everybody but the tactics and the exact way to execute it has to have some variation so what not to do to grow your business is to get overly distracted with information limit the amount of information that you’re bringing in pick 2 or 3 people that you really trust. Maybe I’m one of them and consume their material but really have a hard boundary on who else you could consume from not just say you might find someone in the future that you’re like oh this is awesome and obviously different subjects. You can do this but this is what I did when I started gardening. Because the same thing and I did a podcast on this, it’s like you will find all these different accounts, all these Youtube videos, all these books and they’re all saying different stuff and it’s super overwhelming. So I just picked like 2 or 3 people that I really liked and resonated with. I liked their methods. I liked the way they taught and like that’s all that I followed and that’s all that I listened to and that’s the Youtube channels I’d go to when I needed something so it’s the same with marketing. It’s the same with business anything and also it’s a big problem out there. How people over consume like reading. Reading too many books about business and marketing can actually do the opposite effect that you think it will because it’s just going to paralyze you. You. You’re going to be overwhelmed. You’re going to be questioning like well Alex Hermozi said this. But Emily said this or Russell Brunson said this and then Amy Porterfield said this like which one is right? They’re both right.
They’re both right because that is what worked for them but they are different people with different businesses with different business models with different offers with different niches and you are different than them so try to pull out the principles that people teach to limit the consumption. And catch yourself if you start to get into a place where distraction is causing delays in your execution all right everybody, those are my 3 ways my 3 things not my 3 ways my 3 things my 3 strategies not to do absolutely not to do when growing your business. And I’m sure that we are all guilty of these, including me. Like distraction has definitely at times played a part in like I’ve had to deal to cut out how much I’m consuming I haven’t really done the other 2 things like posting on social media was never my strategy. Because it was too slow and I got frustrated with it The second I tried it and then I’m usually pretty good at investing I think that is definitely like if you were to go look at all the successful entrepreneurs. You look up to or in your life. This is a thread I can guarantee you will pull out. They invest and it’s not just investing money, honestly, it’s time and energy too and it’s being willing to take the next step and see if something works and if it doesn’t pull back really fast and try a new thing right? But doing nothing is going to continue to get you the same results that you’re getting right now. Alright my friends, I will talk to you all next week.