Your Future Self Will Thank You For This - podcast episode cover

Your Future Self Will Thank You For This

Sep 05, 202414 minEp. 14
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Episode description

The business gurus out there have given people false expectations. It's important you go on this entrepreneurial journey with the proper perspective, otherwise you'll be tempted to change directions or quit far too soon.

Transcript

Hey Bo here. You know, one of the things I've learned over the years when it comes to growing your online business is that this is a game of decades, not weeks or months or even years. And I see so many creators out there who are so impatient, like they can't stand the fact that they have to.

Create content for a few months before they make even one sale online, or to get their first client, you know, and they're, they think they're a failure because they've done this for a year maybe, and they don't have the results that they, that they want. It's like people have very unrealistic expectations, I think, because, you know, it took me probably seven years, I think about seven years before I made six figures in a year for the first time.

You know, I had my first a hundred thousand dollars year, I. And before that it was just a lot of trial and error, a lot of making mistakes, uh, figuring out what the hell I was doing. Learning a lot of different skills. Like there are so many skills that you need to be a successful entrepreneur. Entrepreneur, so it's not gonna happen quickly.

You know, you're not gonna become the super successful guru or whatever you want to be, or the the million dollar business owner or the seven figure business owner, you're not gonna become that in a year most likely. I mean, maybe some people are super gifted and they can do it, but for 99.9% of people like this is a game of decades. Like you have to. Just see it like that. Like you're gonna be on this journey for a long time.

I mean, if you wanna be an entrepreneur, you're gonna be on this journey for the rest of your life anyway. So slow down and be patient, because when you try to go too fast, what happens is you make the wrong decisions. When you try to get there so fast, you end up making short-term decisions that. Seem like they're the good thing to do in the short term, but in the long run they don't actually help you. Like I see this all the time, almost everybody does this.

It's like you pursue the path that you think is gonna make you the most money In the short term. You want to go down the path, you wanna start the kind of business that's gonna be the most profitable 90 days from now. But maybe that's not even what you want to do. You're just doing it for the money. Or maybe that's not really what's going to set you up for success in the long term. It's just the short term thing you're doing because you want the money and that is the wrong approach to take.

Like you have to think about what do you want your life to look like three years, five years, 10 years from now? And then you have to build your business. You have to reverse engineer that goal and, and build your business in a way that's going to get you to that long term future as fast as possible. And if you think that way, it's like you think much more carefully about your decisions. You think like. Is this decision going to give me leverage? Is it going to create more freedom in my life?

Is it going to open up more space in my life and give me the the time and energy that I need to be my creative self? You know, like you have to be way more careful about your decisions if you're thinking long term, because if you don't make the decisions, the right decisions in the short term, you're gonna end up making the long term goal take way, way longer.

So I talk about this sometimes in terms of like, choosing your business model because, you know, maybe you think, I, I see a lot of people, like, they go down the path of like doing a, a high ticket business model or starting an agency or doing something that's like you, you can get some more cash in the bank faster. Um, nothing wrong with that. But they don't ever ask themselves like, is that even the business I want to run? Like, is that how I want to do things? Do I, do I want to do that?

Or am I just doing it because it's gonna make me the most money in the next 90 days or whatever, you know? And I think if you, if you want to build something in the long term, you have to start doing it now. Don't do something else that you don't really want to do first, just because you think you have to do it to make money. It's like, no, just do the thing you really want to do. And start it now because it'll make it so you get to the end destination faster.

It might take years still, but you'll get there sooner. And most people actually never get to to that point. They never get to the life that they really want, the business that they really want. They never get there because they're stuck. Being, like making these short term decisions and being so impatient and it sabotages you. You know, like I, I see it in my own, on my own journey.

Like there were many times where if I had just been more patient, I would've gotten where I wanted to be so much faster, but I thought I was moving faster by doing the other things. But actually it was slowing me down. So I'll give you like a a a practical example. Let's say you create a, an online course or a coaching program or something and you launch it out to the world and. You only make a few sales, let's say it. It doesn't go as well as you hoped.

Well, what most people would do there is be like, oh, well this isn't working. Like this is, I must be doing something wrong. This is not a good idea. That's not a good business model. I need to do something else. You know? And so they go create a different product or start a whole different business, or they quit for a while and then start something new a few months later. It's like if you had just.

Taken what you learned from that quote unquote failed launch, and you just made some improvements, and then you repeated it and launched it again, and then learned from your mistakes and then launched it again and learned from your mistakes, and then launched it again. And if you just kept focusing on small, steady improvements and refinements to the thing you're already doing. You would get where you're wanted, where you're wanting to go way, way, way, way faster.

Because what happens is every time you change your mind, every time you make these impulsive decisions to do something else, just because what you're doing right now isn't working as well as you want to. Every time you do that, you're basically starting from zero again. You lost all that momentum that you gained, and now you're starting back at zero, and now you gotta build it back up from zero. And I see this all the time. Almost every entrepreneur does this.

I've done it more times than I would want to admit, and I've had to learn my lesson the hard way. Like just because something isn't working now doesn't mean you need to change to a new opportunity or go in a new direction or try something different. Usually you just have to keep doing the the same thing over and over and over again and keep getting better and better and better at it. And when it comes to like selling a product online, I don't think people realize this like.

When you sell a a product online, if you really want to be successful, you cannot just launch this product and then leave it at that. Like you have to be constantly improving that product, constantly improving the marketing, improving the sales copy, the sales page, the marketing material, the webinar, or whatever it is. You have to constantly be optimizing this, and this takes many months, this takes years to really dial this in.

You know, like any good product will have gone through many iterations. It'll have gone through many evolutions. Like the product that you launch on day one is going to look completely different from that product in a couple years. You know, if you keep focusing on it and making it better, which you should do because what most people out there are doing nowadays, I see it, it's even more common now, which is kind of a shame, is people are selling these like low quality products.

That aren't that good. And you know, there's nothing wrong with like having a, an early version of your product that's not that good. But the problem is when you just leave it at that and then you just let it be shitty and you don't ever improve it, you know? And I've done that before too, and I'm not happy, I'm not proud, proud of that.

Um, because in a way I felt like, you know, I was letting my customers down because I, I knew the product wasn't as good as it could have been, and I knew I needed to make it better, but at the time, I just didn't have the patience to do that. And I had a lot of other challenges in my life that were, you know, preventing me from doing that in a way. But I still, you know, I feel like moving forward my path is going to be more about building.

You know, building a product and then making it great and then just continuously making it better and better and better and better. And I know, like, it kind of scares me in a, in a way, but I know that it's gonna take years. It's gonna take years for, for me to do that. Like, I'm going to have to be very laser focused on this one product. Um, but eventually, you know, you get to a point, it gets easier and easier, you know, like every time you do it.

Every time you do that launch, it gets easier 'cause you can use some of the same material that you used in the last launch, or every time you improve the product, the product becomes a little more solid, a little more stable. It's more systemized, it's more set in stone and every improvement you make to it.

You're getting closer to the point where that product can truly stand on its own, and it can be an asset that serves your customers and serves you and brings in income for you for many, many years to come. But you never get to that point if you're just, you know, launching this thing and then launching another thing and doing this and that over here and that, and you, you're so spread thin that you can't possibly give anything enough energy to make it great.

And that's what I want to encourage people to do is like. You have to focus on making great things. Make your content great, make your products great. It's not gonna be that great in the beginning. You're gonna have to iterate, and that's just part of the process. But like you have to be in this mindset of, uh. Constant improvement. You know, like the, the Japanese concept of kaizen, which is like constant, never ending improvement.

You know, like just look at, look at the iPhone for example, the first version of the iPhone that, that came out. I mean, at the time it was amazing, but if you compare it to. The phones we have now, it's like night and day. You know, like they've, they're very different products. All they have done though is they've just focused every single year on making little improvements to the iPhone.

Every single year they make a new iPhone and they just keep making it better and better and better and better. And that's how. These big companies are successful. You know, like take car companies, for example, these car companies, they've been making the same cars for decades, and every year they come out with a new model that's slightly improved over the last one. There might not be any major differences in the product, but there's just slight.

Improvements and that's how you build a highly successful business, is you make a great product. And most people don't have the patience to do that. And so that's why I just have to encourage people. I want, I want to encourage people to like think longer term. Stop making impulsive decisions. Stop jumping from thing to thing to thing, and just go all in on the one thing that you really want to do. You know, like the business model that you really wanna do.

If eventually you want to have a, a. Online course business, then why are you spending your time doing done for you services and high ticket, whatever, whatever thing you're trying, if the thing you really want is this other thing, you know, like you have to work towards what you want. And I, and granted some things are a means to, like some things are a stepping stone. I get that. Like sometimes you have to do something. That isn't the ideal thing.

It's not optimal in the short term so that you can get to the thing you really want. Like, you know, for example, I want to be an author someday, like a full-time author. But I realize like what I'm doing now is a stepping stone towards me being able to do that. You know, like, 'cause I don't wanna write books just for money, you know? So I wanna make my business like, get my business working really, really well so that I have the money.

And I have the space, and then I can spend more of my time writing and, and just write books full time. You know, so like what you're, what you're doing is a stepping stone to the next thing that you wanna do. And so you have to think long term because you have to like, you have to be willing to delay gratification a bit. You have to be willing to focus on one thing because you see, like, you have to be foc focused on one thing.

Even if it's like uncomfortable or you get bored of it a little bit, like you have to keep focusing on it because you have to see that eventually that's going to get you where you actually want to be. That's gonna give you the freedom that you actually want. And if you were to jump ship and change your mind and start back at zero and lose all the momentum.

You would actually be doing yourself a great disservice because you're just gonna make it take longer to get to the thing you actually want, you know? So, um, this is just a long little rant, I guess, but, um, I really think that's like plaguing the whole online creator community. It's like people are thinking social, short term. They're trying to like, you know, go viral and blow up their business in, in a day or a week and make six figures this month.

And, and they're, they're so impatient and. It's really, it's, it's not serving them either because of most, most of these people that are impatient and they're trying to get there so fast, they're not gonna be around in a few years. They don't have the patience, you know, like they're gonna quit because it's too hard, because they're burning themselves out by trying to go too fast. So, you know, there's a lot of wisdom, I think, and just like slow and steady, slow and steady growth.

You don't have to be in a hurry to get there. You just have to be focused, you know, and also build leverage into your business so that. Every time you create something and do something or improve something, you can reap the rewards of that for many years. You know, like every time you improve your product or make your product better and easier to sell, that pays off for you for years and years to come. That makes you more money years into the future.

Every time you do something that you can reuse or you can automate, or you can leverage in some way, you're building in more and more freedom into your life really. Um, so you have to think in terms of like systems. How do you, how do you sy systemize things? How do you do something once so that it's easier to do the next time you do it, you know? Um, so I think I'm getting a little off topic here, but, uh, I hope this was helpful in, in some way and, uh, talk to you in the next one.

Lemme know if you have any questions.

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