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I once talked to a global company’s CEO who wanted to try some of this storytelling to stand out in the market place. He said:
“We want it to generate revenue before really funding it too much.”
Huh? Ugh, I didn’t reply with “huh” but wanted to. This kind of statement and attitude isn’t that uncommon actually. Unfortunately.
Prove to me that it works before I invest the amount it takes to actually make it work. Now, don’t get me wrong – you can do content marketing on a shoe string and I’ve done that before and still do it from time to time. But usually this tactic is best used by smaller businesses and startups.
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So I asked how much he expects to make from this in year 1. He gave me a number. I told him the project for year 1 would cost 15 percent of that number.
Seemed shoe string to me. Ha.
On the other side of this effort vs. value discussion is the often inaccurate projecting and guessing happening.
If I do x and invest this much time I will get y. It’s guaranteed. Unfortunately, hardly anything is guaranteed.
I would likely never have started blogging, speaking or losing weight had I always overanalyzed everything before doing it. I just started doing. The best plan still is doing toward a declared goal.
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Don’t get me wrong here. I change things all the time. Something isn’t working or doesn’t exactly align with my declared goals it gets the ax. Done. It’s out of here or gets adjusted to keep moving me toward my goals.
Sometimes the value can be guessed or something can be dismissed without trying. Many times it cannot. I’ve been on many projects where success happened and teams learned something because they focused more on doing vs. analyzing what they could or should be doing.
You could have hit that breakthrough in that next minute – the one you didn’t spend. The only way to win the game is by playing it – not by sitting on the sidelines analyzing what may or may not happen.