Jim's Marketing Blog

Marketing ideas to help you grow your business

How to escape the cycle of earning too little

Money gives you options.  This is one of the reasons, why people who have lots of money find it easier to make even more money.  They are painting from a wider pallet.  They can afford to play a longer game.

The opposite is also true.  A lack of money often causes people to make decisions, which can keep them financially weak.

One of the best examples of this, is the short term thinking that many in financial difficulty find themselves confronted with.  It’s hard for a business owner, who needs to have money in the bank in 30 days or lose their home, to divert their time and attention onto the business development strategies they need for long term success.

Short term thinking

The tendency for those who are seriously struggling, is to focus on marketing ideas, which they hope will generate the fastest return.  This sees many small business owners adopting panic measures, such as cold calling and pestering people for leads at networking events, etc, etc.  These time consuming forms of pursuit marketing are more likely to damage their reputation, than grow their business in a sustainable way.  People hate being pestered by pushy business owners.

No matter where your business is right now, you need to avoid being caught up in the negative loop, where you go from one short term answer to the next; never getting far enough in front to set the longer term strategies into play, which your business needs in order to grow.

Important

If you or someone you know is in need of a way to generate meaningful income, without pestering anyone, the 2 posts I link to below may help.  They provide a way to quickly get some bankable results, in a way that’s easy to scale and requires low financial investment.  Follow the links for dedicated posts on each subject:

Endorsed Relationships

Joint Ventures

I also recommend you read this, which shows you the 4 ways you can grow your business.

Photo: Images of money

About Jim Connolly: I help small business owners grow their business, make more sales and boost their profits. To see how I can help you and your business, read this.

10 Comments

  1. Interesting as always Jim!

    Yes, I see a lot of people come to me saying “Quick! I need something FAST and oh, I don’t have any money.” I usually tell them to go and make some money then come back and talk to me.

    A lot of people think that marketing will fix all their problems. And by marketing they mean communication. They don’t look at their products, how they have the packaged or even at the pricing.

    They then start throwing money all over the place, (remember that money they DIDN’T have?) and end up wasting it on Facebook campaigns or Google Adwords …

    If you are looking for a quick fix you are better off clearing your cupboards out and listing on eBay!

  2. I love your contribution-focussed approach to helping entrepreneurs James.

    Maybe one day others will catch up and stop thinking only of their selves.

    Margo X

  3. I can appreciate why some business owners would think in terms of short term solutions when in financial difficulty – it’s not inherently a bad idea, it’s the execution of such solutions that can be detrimental to your long term success.

    Many may fall back on the thinking from this phrase: Desperate times call for desperate measures.

    I’m not sure I agree with the philosophy entirely and I most certainly disagree with any actions that make an owner appear desperate. A more appropriate phrase could be: Desperate times call for a cool head and always keeping one eye on the big picture.

    It may not be as snappy, but it’s much more effective in the long run.

  4. Thanks for the great post, Jim.

    Lately, it seems like I have been in that position of short term thinking. This week as we prepare our budget, we will be looking at Joint Ventures and getting some great quality endorsements.

  5. Thanks for the valuable link. Will go to them now.

    I haven’t “needed” the money from m site so I have been taking my time growing it organically. However, I wonder if I did need the money to some extent would I have worked harder/faster and come up with ideas more readily to make it profitable.

    Best,
    Rajka

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