What's up everyone. Welcome back to my channel. The best place,
learn how to get visible using social media and get paid at using a business
strategy. Now, in today's video,
let's focus on the business strategy side of things. Specifically.
I want to share some words of wisdom,
some things that I would either do differently or think differently in my
business. I've been running my business for a little over three years,
and I feel like I've accumulated a lot of knowledge in the short period of time.
I know many of you guys who watch my videos are either starting their businesses
or in the beginning stages.
And I feel like by sharing some of the things that I've learned along the way,
it's really going to help you guys avoid the same mistakes,
or even just become stronger entrepreneurs overall.
And so let's dive in because I have a lot to share. All right.
So the first learning lesson is I really wish,
I didn't think that being cheap was a competitive advantage.
Meaning that when I started out my business,
I thought that having lower prices is what made me different.
And I kind of wore it like a badge of honor. I always said that, Hey,
I give the most value at the lowest prices and looking back,
I think that it's pretty ironic because I slowly learned that even though you
think having lower prices is what's going to set you apart.
The fact that you're not making enough money.
And the fact that you're not able to reinvest back into your business is going
to be the sole reason why you're not going to be able to differentiate yourself
in the market. For instance, when you charge such low prices,
you're not going to have anything left over to reinvest back.
So you're not going to have any money left over,
to invest in the support that you need to grow your business.
So let's say you're at a place where you need to hire contractors employees,
or maybe you just need more help.
You need mentorship when you have no money left over to do that.
You're basically robbing yourself of accelerating your business even further.
Not only this, if you're very client centric,
the fact that you're not charging enough and that you're not making enough,
you're not going to be able to reinvest back into your clients.
You're not going to be able to provide world-class client experiences.
Meaning if you want to send client gifts,
if you want to treat your clients through a retreat,
or if you want to just reinvest back so that you can support your clients even
more, you again, aren't able to do that because you don't have enough money.
Now,
I think that this is a very common pitfall that a lot of newer entrepreneurs
fall into because when you're just starting out your business,
you can't compete on social proof. Yet you can't compete on experience.
You can't compete on years of business.
And so the number one thing that we think that we need to compete on is price.
And I think that when you're starting out and even for me,
I started out with very low pricing because I didn't,
I wasn't confident and I didn't know how much I was worth,
and I didn't know what to charge, but at least over time,
I was able to increase those prices.
The mistake that I see a lot of people make is they stay stuck at the low
pricing level.
And then once they actually start trying to scale their business or grow their
business, or they're trying to, you know,
hit the accelerator button on their business,
they're not able to do so because there's no margin.
And there's one thing that I think I heard Tony Robbins say is when there's
no margin, there's no mission. I think a lot of us,
when we start our businesses,
we start because we want to provide value to other people.
Even if you're just a content creator right now,
you decided to be a content creator because you want to share a story or you
want to teach something, whatever it is. We know we all have this mission.
That's driving. Why we chose to start a business because business is not easy.
It's hard. Entrepreneurship is difficult.
And so we must all have a very strong why as to why we choose to
choose the difficult route, right? But when you don't have margin,
we don't have money. You're not able to move your mission forward.
For example,
there's going to be a space in time where you can't be the only person that's
editing videos, helping your clients, doing all those things.
You actually become the bottleneck of your business and you need money to hire
people. You need money to have those experiences. You need money and mentorship.
That way you can actually move your mission forward.
And I think that that's when it truly clicked for me,
that I needed to reevaluate my pricing. Uh, even in this day and age,
even to this day,
I still feel like I need to reevaluate my pricing because I have such a big
mission. And if I'm not making enough margin,
it's going to be pretty hard to scale.
So that's definitely one thing that I would make sure you guys know about
as you're navigating the world of business.
Not only this beyond just scaling your business beyond just reinvesting back
into your clients.
You also want to think about the types of clients that you attract,
especially if you are choosing to pick pricing as your competitive
edge,
if you are actively marketing and positioning yourself as the cheapest on the
market, or as the most affordable, your clients are going to remember that.
And they're going to think, okay, well,
this is the reason why I decided to buy this product or service. You know,
if they decide to raise the price, I'm going to wreak havoc. You know,
oftentimes when you attract clients that solely make their decisions on price.
When you ever, whenever you try to increase your price, they get upset.
Or if they see your competition charging lower prices,
they tend to threaten you or they tend to leave.
And so the loyalty is not there. And so you have to think beyond pricing.
Now here's some things that are going to set you apart.
It's the value that you provide to your client and your customer,
the results that they may get,
or the transformation that they may get because they use your product or
service, or because they followed your process.
The amount of time that they save, because they used your product or services.
There are so many things beyond just pricing.
That's going to help you differentiate yourself in the market.
And so I really urge you,
especially if you're a newer entrepreneur or maybe you're a more seasoned
entrepreneur.
So just think about that the next time you believe that being cheap is your
competitive advantage because I guarantee you it's not.
And it's actually going to cause you not to have a competitive advantage in the
long run. Now,
moving on to the second thing that I would do differently about my business or
that I would think differently about my business,
if I were to go back in time and that is focusing more on addressing some of my
mindset issues rather than.
Only focusing on strategy. Now,
oftentimes when a business is struggling or plateauing,
we often as business owners think that we're missing a skill or we're missing
out on a strategy,
or we're missing some piece of information that's causing us to not be able to
grow our businesses. But the reality is,
is that what's preventing your business from growing is likely the psychology of
the business owner,
meaning your business is only as strong as where you've taken it,
your personal development. For example,
let's say you're someone who thinks that money is bad or people who have a lot
of money are batting evil. Well,
what's going to end up happening is over time in your business.
You're going to find it challenging to increase your own prices or ask for more,
whether that's asking more from your clients,
asking more from your employees or asking more from your collaborators or
partners, these things are going to be challenging for you.
And therefore it's going to be hard for you to scale up your business.
Or let's say you're someone who believes that you're not good enough. Well,
what's going to end up happening is you're going to end up over-delivering for
so many of the wrong reasons causing inefficiencies in your business and causing
burnout.
Then you're going to be an entrepreneur who will never have a minimalist life,
and he'll never be able to truly have time off. This is what happened to me.
I had a core belief that I wasn't good enough.
And a lot of this came from childhood.
A lot of it came from how it was conditioned and therefore for my
programs, for my content, for my business, just everything I did,
I constantly try to over-deliver because I was scared that just showing up
wasn't enough and that caused a lot of burnout for me.
And it also caused a lot of inefficiencies in my business that prevented me from
actually scaling up. Now here's another example.
Let's say you're someone who struggles with having lack of control,
or maybe you're a perfectionist,
or maybe you're someone who has a little bit of trust issues. Well,
how that's going to end up showing up in your business is you're going to
struggle a lot with outsourcing with managing a team and you may end up being a
micromanager.
And what ends up happening when you do that is you have the potential of
crushing, any type of innovation that any team member brings forward to you.
And you may also double up on work and create again, a lot of inefficiencies.
And therefore,
when you actually start thinking about scaling and growing and taking your
business to the next income level,
it's going to be a lot harder for you versus someone who has already addressed a
lot of these issues.
And so what I'm trying to say all in all is that if I could go back in time,
instead of only hyper-focusing on the latest strategy,
the latest marketing tactic or the latest sales tactic,
I spent a little bit more time investing in therapy or reading books,
journaling, mindset, coaching,
these things that will help me become more self-aware as an entrepreneur so that
I can identify what's triggering me. What are my gaps?
Where are my shortcomings? What was my childhood like?
And how did that condition the way that I think today and the actions that I
take today and what can I reprogram in my mind so that I can take my business
and my team and my audience and.
Clients to the next level.
Because what you have to realize is that as the business owner,
it all starts with you,
you are the leader of this organization and the things that you do not address
within your psychology,
within your mindset is going to end up trickling down to your team and your
customers. And that's why if I were to go back in time,
I would invest more time and resources into this aspect of my life and business.
Now, moving on to the third thing that I wish I did differently,
especially a lot sooner in my business is recognizing that good content is good
content and not constantly feeling pressure to reinvent the wheel.
And so specifically what I mean by this is for a very long time in my business,
I always felt like I needed to create new content, come up with new ideas.
And that kind of led to me, burning out a lot more often than I do now.
And a lot of that, again, came from the insecurities that I share previously,
where I talked about how I always felt like I wasn't good enough.
And I always felt like I needed to over-deliver.
And how that translated into my business is every time I created content for
YouTube, for Instagram, for anything,
I would always put unnecessary pressure on myself to come up with new ideas,
reinvent the wheel,
do something different and slowly but surely I realized this way of
thinking and this way of doing clearly wasn't working out for me because I was
being incredibly inefficient. I was burning out and I was just,
wasn't feeling good about myself as a content creator,
but also I slowly realized that good content is good content.
And when I looked back at the archives, when I look back at my old captions,
when I look back at my old YouTube videos,
there are so many things that I could resurface repackage and repurpose
today, because what you have to realize is that as a business owner,
on social media, as a content creator,
you're always increasing the amount of followers that you're getting.
You're always increasing your reach and visibility every single day.
There's at least one person who is never engaged in your content before that's
finding you for the first time.
And what you have to realize is a lot of the content that you did in the past is
worth bringing up again because of the people who follow you for the very first
time, they don't have the time to look back at your archives,
look back months ago, or years ago, to see what you post it.
And so it's an incredible limiting belief.
If you think that you can't repost the same thing,
or you can't reshare the same idea,
because you're scared that people are going to think that you're irrelevant or
that you're boring or that they know you've repeated this again,
another thing that you also should realize is that you're just one content
creator,
one business owner amongst the thousands and millions of other content creators
and business owners that your followers are following.
And so a lot of times the content that you've done in the past deserve to be
resurfaced so that your followers can be reminded of the principles and the
concepts that you share now, how to repackage, repurpose,
and restate your content can come in different ways.
So a good example is I had this one post that did really well a year ago.
And what I did is I literally re posted the exact same post and it
performed even better or equally the same.
Another way that I also do it is I look at my old captions.
And if there's a few lines that I can repurpose,
then I'll repackage it into a quote post. And this also does extremely well.
Another idea is if I have a carousel post that did really well,
then maybe what I would do is I would break that carousel apart and turn that
into separate posts, or actually turn those into captions.
There are so many different ways that you can repurpose repackage and restate
your content. Another idea that I have for you, especially if you're a YouTuber,
is if you have a video that's 30 minutes long,
what you could do is take pieces of that video and break it apart into three 10
minute videos. Now you have three pieces of new content,
even though you didn't necessarily reinvent the wheel.
A lot of these things are things that I focused a lot more now in order to
actually scale up my business, because at the end of the day,
there are so many new ideas that you can come up with and you can not neglect
the fact that the content that you posted months ago or weeks ago,
or years ago is still really good content that deserves to be reminded of not
only this.
Another thing to note is that oftentimes you have to repeat a similar concept
in different language, in different ways,
in order for different people to understand it, because at the heart of it,
different people have different ways that they like to learn.
Maybe some people like to learn from a video format,
maybe some people like to learn in a carousel format.
Maybe some people like to learn in a live stream,
or maybe some people need to hear a concept,
but in a different way that you explain it in order for it to actually hit home
for them. And so if I were to go back in time in my business,
I really wish that I understood this concept a lot sooner because I feel like
it would have prevented a lot of unnecessary burnout.
It would have prevented a lot of unnecessary pressure and it would have also
doubled,
or maybe even tripled the reach that I could have gotten because I was holding
myself back feeling like I needed to reinvent the wheel or feeling like I needed
to create new concepts and new ideas with every single post that I put out now.
So far in this video,
I shared a lot of the things that I would do differently if I were to do my
business all over again.
And I really hope that some of my words of wisdom helps you.
What I'd like you to do is share your words of wisdom and comment below in the
comments section and let other people know what you would do differently about
your business. If you could go back in time,
I have a feeling that it's going to help a lot of people.
If you share your wisdom to speaking of words of wisdom,
I also have a free guide that you guys can download in the description box.
And in the comment section below this guide is really designed to help any new
coach or consultant, get their feet off the ground. As you can see,
I go over the top 10 steps to get your business up and running.
It is packed with information.
And so you can get the digital copy through my comment section or in the
description box below. As you can see,
it is jam packed with all my words of wisdom and it is absolutely.
So make sure you download this free guide. If you haven't already,
it is designed for new coaches and consultants who want to get their business
off the ground running as always guys, I post a lot of videos on marketing,
entrepreneurship and social media. So while you wait for next week's video,
make sure you check out these two videos that I have right here as well.
I promise they will not disappoint. I appreciate you guys.
I hope you guys have a great day, a great week and a great life.
And I hope to see you in the next video. Bye guys.