📄 Assets and Leverage: Relationships Before Advertising
Sure, it makes sense for him to run an advertising campaign:
He’s got the budget, he’s an absolute authority in his field, he’s got an offer that converts and a terrific value proposition.
But, he’s also got a list of 2000 subscribers, many of whom have bought from him in the past.
So I ask: “How often do you mail your list?”
“Used to be monthly. I need to get back on that track”.
Alright, time to put my foot down with a firm hand.
Because sure: advertising can work really well.
But it's important to do things in the right order., because advertising is an investment - and let’s not even get into the question of how costly it can be, or how it can take a long time before you get your targeting and messaging right.
No, long before that comes another set of questions:
How did you get that list?
You built it, over time, investing in your business and your visibility.
How did you get that authority positioning?
By working with people, creating relationships, developing opportunities over time (I mean, not every entrepreneur also teaches at universities. Stuff like that takes time).
How did you end up with an offer and value proposition that people actually pay you money for, every month, with their membership subscriptions?
By experimenting and learning, by and by, who is your ideal buyer, and what they need, and how to communicate with them.
All of the above answers can be summed up in one word:
Investing time, mental space, money, creating articles and videos and doing all the business things a business does.
A huge investment, spanning decades.
But if you then don’t talk to the list of people who gave you permission to mail them, you’re looking to invest even more, without deploying the full potential of the massive investment you’ve already made.
You’ve built up assets - relationships, positioning, status, a list etc - and you’re not leveraging your assets.
Like growing an orchard, and when the time comes to harvest your apples, you instead go plant more apple trees. Not the best choice.
So whenever you are thinking about investing (be it time, money, or other resources) into your business, ask yourself the final, the big, the most important question:
Have you, to the fullest extent and maximum potential, leveraged the investments you’ve already made?
Do that first. Invest after.
Hey, and do you want to start mailing your list, in a way that people love to read and buy from, and you want my help?
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