I am excited for 2017 because there are so many opportunities on the horizon. But how do you avoid falling into some of the traps of our industry? As an example, trap #1 is thinking about this as a “career” versus a “business.” This is a mental shift for many who think of what they do as a fun way to get out there and share their message. However, underneath it all is a business that requires cash flow, profit and loss statements, accounts payable and receivable and so much more.
With this in mind, I want to share 3 career or business killers that you need to keep an eye out for and evade in 2017.
Taking risk is scary for everyone, but if you avoid taking risks your business will remain stagnant and never grow. If you avoid crucial business moves like making a lane change, or changing your branding, or making a significant investment or taking some financial risk because you are afraid, you need to get over it.
Mark Zuckerberg says, “The biggest risk is not taking any risk… In a world that is changing quickly, the only strategy that is guaranteed to fail is not taking risks.”
I do not think the key is to play it safe so you avoid mistakes but to learn how to recover quickly after a mistake has been made. I have certainly made my share of mistakes, but getting back on the horse is the best way to push past them. Staying stuck is not an option.
Using the same content year after year without ever changing it up is a quiet career killer that might sneak up on you. When you start “phoning it in” because you have done the material 1000 times, it is time for a change. Trying something new is the best way to re-engage with your audience and your buyers. Moreover, working on new material puts you back in the seat of creativity and control and what comes out of it might just be the spark your business needs.
You might say “my material rocks, everybody loves it.” I get that. Changing content does not mean you have to throw everything you currently have away. You might keep pieces of it, but engaging in new material breathes life into your business and gets you excited about selling it and delivering it.
Trading Time for Money
Dan Sullivan, of Strategic Coach, warns us of creating “high paid jobs” for ourselves. When we only trade our time for money, we are limited by inventory (dates on the calendar). We should always be thinking about passive income streams. Some of us will even go beyond that and investigate whether we are building a company we can sell. For many of us, it is an absolute possibility.
By avoiding these career or business killers, you will be setting yourself up for success in 2017 and beyond!
See you soon Wealthy Speakers!