But the Deal Sounds So Good……
We have all had experiences where we have invested in things but they just didn’t quite pan out like we thought they would. I know I have had lots of them. Yes they work beautifully for someone else, its not the experience that was not a good one, it just wasn’t a good one for me at the time.
What I have learned is that the answer is always in the details.
Most of us are great with the details when it comes to our own craft. What we deliver, how we deliver it, and the desired outcomes for the end user. However when it comes to running a business there are a lot of areas that are not our area of expertise and so we don’t even know the details we need to be asking about and we certainly don’t know what the impact of not having them will create. As such we are often investing with one eye closed and one hand tied behind our back, we just don’t know it.
The details are what will give us clarity and empower us to be able to make choices that will best serve us.
So I can speak to details when it comes to money, it is my craft. Marketing, HR, Self-care are all places where I have invested without the expected ROI, mainly because I didn’t know what I didn’t know.
So how do we find the details? For myself I always run the numbers first. If it pencils then it is worth exploring more. What I mean by pencils is that the return is greater than the investment in the amount of time and money required. Do I and my team have the bandwidth, the space to add it to our plate, and is the return in dollars worth the upfront investment of time and money?
The next step, and this is often where I fall down, is uncovering exactly what needs to be in place FIRST before the investment can actually give you the return.
What systems? What team? What skills? What level of accomplishment in business?
Gaining clarity will let you know that you are set up to win for the return you are expecting.
If you learn that you do not have all that is required in place then are you ok investing for 2 or 3 +++ years in order to get there? Are you willing to learn the new skills that will be required? Will you invest in the required team?
Then, work with one thing until it is mastered and giving you the ROI you desire before jumping into the next. Again, as a creative entrepreneur, this can often be a challenge. I know it is for me and every time I don’t do it, I pay more for all projects.
I hope my journey into uncovering details has been helpful. It’s what has been in front of me all week not only in my own company but also with some very dear clients.