Posted by Scott Bywater in marketing Jun 27th, 2017 | No Comments »

So what is the barbell strategy I mentioned in yesterdays’ email.

It’s simple, and involves safety + risk.

You see, business is not all about speed. It’s about speed with minimal risk.

Think of it like this.

You’re in an aeroplane and it’s going fast. But it’s out of control.

It’s taking massive risks to reach that speed.

What’s the end result likely to be?

That’s right…

It has very high odds of crashing… badly!

The same goes when you take massive risks in business. You might get lucky, but
odds are you won’t.

So with this in mind, the barbell strategy works a treat.

Instead of trying to run a startup and worrying about where money is going to
come from every week… you focus on both sides of the barbell:

side 1: low risk, high certainty.
Side 2: high risk, high pay off.

The low risk side means you can live without worry. You’ve got your consistent clients. You’ve got
your income. You can sleep easy at night without growing grey hairs.

The high risk side is for freedom. It comes off, and you’re financially free.

But here’s the thing: the high risk should never involve losing more than you can comfortably handle – it
should be a small percentage, under 10% of your assets.

That way, if it comes off…

BOOM…

You’re set.

If it doesn’t and you lose it, no big deal.

Same goes with your business.

Always reserve a small percentage of your time for the high risk / high payoff.

Perhaps it’s working with a client on a percentage deal.

Perhaps it’s testing out a new type of business.

Perhaps it’s chasing after elephant clients.

Just make sure you focus on both sides of the barbell – that way you have the
best of both worlds.

Posted by Scott Bywater in marketing Jun 26th, 2017 | No Comments »

So after being introduced to Nassim Nicholas Taleb by my friend
Nik Thakoral, I’ve started reading the book AntiFragile…

And here’s an interesting topic he talks about: optionality.

If you’re not familiar with options from a stock market perspective
it basically means you put a small amount of money down to have
the right but not the obligation to buy.

i.e. stock is trading at $3.

You think it will jump up to $4.

You put down 30c to hold it for a certain period of time.

If it jumps to $7, you enjoy the profit of $3, while risking 30c.

In short, you get the benefit of the upside without the risk of the
downside.

But let’s think outside the box.

Options don’t just apply to the stock market.

They apply to everything you do in your business.

You attend a networking event, giving up a couple of hours of
your time – you might get nothing out of it, but you might get
a referral worth tens of thousands of dollars to you.

That’s an option.

You make a phone call to a potential client. It might be a waste
of time or it might be massively profitable.

That’s an option.

You run a Facebook ad.

It might be a waste of money, or it might turn into a marketing
campaign worth a fortune.

That’s an option.

You create a piece of content and promote it. It might be ignored
or it might end up spreading all over the world.

That’s an option.

If you want more business, it’s what you need to do. Take little
bets which have high upsides and low downsides.

Posted by Scott Bywater in marketing Jun 19th, 2017 | No Comments »

One thing you’ve probably noticed over the past few years is that…

THERE’S NO SHORTAGE OF CONTENT

So how do you get yours to cut through when there’s been more content produced in
the last handful of years than in the whole of history?

The answer is – relevancy.

Think about it:

If you’ve got knee pain, you don’t want someone to tell you about general health…
You want specific advice about what will fix your knee pain fast.

So how do you get that relevancy?

Well, there’s a new technology out there called “decision trees” which allows you to very specifically talk to your prospects based on who they are.

For example, let’s say you’re looking for a bed.

Would it help someone selling you a bed if they knew you suffered from back pain (and could therefore recommend a bed which helps support your back)…

Or if they knew you liked a soft bed or a hard bed?

Or perhaps if they knew you were concerned about whether the bed was laced with toxins?

You bet it would.

If they knew that, they could send you emails along the lines of:

“The Perfect Bed for Those With Back Pain”

Or…

“How to Choose a Bed if You Suffer from Back Pain.”

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