Haven’t you ever wished someone could have given you great advice before you started your business? You may not be able to help your younger self but you can always help someone else who is barely starting out.
Alex Schlinsky, the Founder and CEO of Prospecting On Demand has learned many things on his entrepreneurial journey. After constant struggles, he finally created something that could help others and be profitable at the same time. At Prospecting On Demand he helps coaches, consultants, and agency owners implement the systems and strategies necessary to scale their company and become successful CEO’s.
Here is some advice from Schlinsky.
What are your “5 things I wish someone told me when I first started” and why?
#1. Don’t worry about the competition. Focus on what you can control!
Story: When I was just starting my marketing agency, I joined dozens and dozens of related Facebook and LinkedIn groups. Soon I was bombarded with ads and solicitations, and I was fully ingrained in the space. I began to think “Man, this is a pretty saturated market.” Rather than blazing my own trail, I was trying to copy every Tom, Dick, and Larry. I was quickly frustrated when I wouldn’t get the outcome, and I’d restart the process all over again. Information overload and shiny object syndrome were my calling cards, and I felt trapped in a sea of never-ending information. Then I saw a post that told me “Remember: Social Media is a highlight reel.” It suddenly all clicked. I wasn’t allowing social media to inspire me, I was allowing it to frustrate me. I had no control over what someone else was doing or accomplishing, I only had a focus on my day-to-day actions and improvements. Once I started focusing on what I could do to move the needle, I felt more comfortable on my own path.
#2. Selling a $500 offer is the same as a $5000 offer
Sales are at least 80% a mental game: “What if they don’t like it? What if they can’t afford it? What if they have objections I’m not ready to overcome? What if they want to start at a lower price?” and so on… Most entrepreneurs fight for the bottom of the barrel rather than creating a prestige and irresistible package. Nearly everyone chooses to lower their prices - and thus their inherent value - so that it’s ‘easier’ to close deals. Truth is, selling a $500 deal is identical to a $5,000 deal. If you’re providing an indispensable service to your ideal customer by making them more money and saving them time, then charge a premium for it. You’ll feel more confident, have more funds for delivery, and you’ll deal with fewer headaches because you’ll naturally handle-less clientele.
#3. Simplify your business into 4 tenets: Prospecting, Sales, Delivery, Productivity
As an entrepreneur that’s hungry to grow, you’ll always have some sort of obstacle in your way. That is simply part of the business. The difficulty comes when we attempt to solve surface-level problems because we hadn’t taken the time to correctly identify the core issue at hand. This is because entrepreneurs tend to over-complicate everything, including obstacles. The best solution is to simplify your business into 4 sectors, or tenets: Prospecting, Sales, Delivery, Productivity. I personally guarantee that every obstacle you’ll ever face will fall within one of those 4 categories. With clarity on the bottleneck, solving your problems will be easier than ever before.
#4. Clarity over ambiguity
Most entrepreneurs I speak to, especially those early on in their careers, simply lack the clarity required to successfully scale. When asked to define their goals, it’s painfully evident they haven’t thought past the next week, let alone a month, a year or next decade. When asked to clarify what they do, they tend to over-simplify, for example: “I help small businesses”. When pushed on their definition of success, they blindly accept the latest definition from their parents, mentors, or YouTube motivational clip they watched the week prior. Most say “Freedom” and even more struggle to define past that word. If you’re clear on your strategy, goals, action plan, obstacles, opportunities, bottlenecks, and more, you’ll continue to progress. If you stay comfortable with ambiguity, you’ll never be satisfied or fulfilled and you run the risk of complacency.
#5. Invest in mentorship
The first time I was ever offered paid mentorship was from an online “agency guru” who had helped about 50 entrepreneurs hit the $10k/mo mark. He wanted me to pay him $6,000 for his services. I was offered a training portal and weekly calls for 2 months. I quite literally laughed. Guffawed even. I simply could not fathom someone investing $6,000 in “mentorship.” The idea was so foreign to me. I didn’t invest in true 1 on 1 mentorship until 2 years later, where I spent $10,000 for a 3-month program. It was the best investment I’ve ever made. What I accomplished in 90 days would have taken me 2-3 years to complete. If you want to accomplish anything, cut your learning curve by finding a mentor in the space.
Published by john paret