Over the last couple of months, the world has gone Bitcoin crazy. I went to jump on the bandwagon early, when the price was at about $9000.00 AUD.
There was a problem with the transaction. I didn’t trust the service, and by the time this all got clarified, the price
jumped up to $20,000.
Now it’s see-sawing up and down like a yo-yo.
But you know what it’s going to show us?
All of this hype.
It will show us who the real players are.
You see, if you jumped in at the early stage and quadrupled your money, you felt like a genius.
In reality, unless you are a true student of the markets, you got lucky.
You rolled the dice and won.
But over time, if you keep rolling the dice in this way… keep sitting at the casino table… you’re going to lose.
Randomness will sort you out.
It’s a bit like a soccer game. Australia played Thailand last year in the world cup. Had SO many shots at goal, over 30, but only converted a couple.
Thailand had one shot and converted.
Thailand didn’t win, randomness sorted the game out.
But they could have. They could have got lucky.
HOWEVER… if Australia played Thailand in 10 game, 30 games, 100 games… our skill would have caused us to come up trumps.
And it’s the same with business.
You might have a bad day or a bad week. You might get down on yourself.
Think over the period of a year or a decade instead.
Because if you keep swinging that bat, make no mistake about it – some of those swings are going to connect – and they will make all the difference.
Success is lumpy – so keep swinging that bat!
You’re probably heard people talk about the 5am club online… with the idea being that your most vital hours are in the early hours, and by getting up at dawn you have a more productive day.
I don’t disagree, but the reason most people don’t do it is because of something which happens earlier.
You’ve got to take a step back.
What do I mean by this?
You need enough sleep.
That’s right… if you don’t get enough sleep – that 7 or 8 hours a night which most of us need…. If you’re like most people (except my friend, Nik Thakoral who is super-human and doesn’t need to sleep) It won’t be sustainable long term.
So the problem isn’t in getting up at 5am.
It’s in going to bed either at 9 or 10pm.
So it should be renamed the 9pm club…
Because the problem isn’t that people can’t wake up… it’s that we don’t have the discipline
to go to bed on time.
And it’s the same with everything. You’ve got to uncover the layers.
For instance, I had a client who thought they had a marketing problem. It turned out, they had a customer service problem.
And if you dug deeper it was an operations problem. And if you peeled away another layer of the onion, it was a culture problem.
The problem is never where you think it is.
According to data from Adstage, the average cost per click on Facebook ads has soared 136% since January 2017. Same with Twitter (18%).
Why? Supply and demand.
And going forward, it’s only going to head in one direction. Same goes for virtually all digital advertising. Just look at
what happened with Google Adwords.
So what’s the answer?
Play the long game.
Create a content marketing plan.
While paid advertising will definitely get you a faster pay off, content marketing has been proven to provide you with a far longer term pay off.
And you own the media.
So once you’ve paid for it, once you’ve set it up… it’s there for life.
Remember, if your paid ads are working now… but prices double or triple… will they still work?
Even if you have a paid strategy that’s working, consider building a content marketing strategy as a back up.