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It ain't just about the money - so don't make that your only focus

by DaniMc
23 replies
Hey folks - just came across this great infographic! Notice that in NONE of these categories is money the biggest benefit OR the biggest problem!

If you go in there only talking about money - you are missing the mark.

#focus #make #money
  • Profile picture of the author Clyde Dennis
    Love your sig...
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  • Profile picture of the author Recruitment Nick
    28% said their biggest barrier was marketing/finding new customers

    THAT should get a few people thinking...we are marketers aren't we? Over 1 in 4 small companies say that their BIGGEST barrier is getting what we should be able to provide.

    Great infographic
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    • Profile picture of the author DaniMc
      Originally Posted by Recruitment Nick View Post

      28% said their biggest barrier was marketing/finding new customers

      THAT should get a few people thinking...we are marketers aren't we? Over 1 in 4 small companies say that their BIGGEST barrier is getting what we should be able to provide.

      Great infographic
      Isn't that interesting? Most business owners I know are trying all sorts of things on a short term basis. It turns out that they have 2-3 stable, reliable methods of getting new customers.

      Based on everything in this graphic - I would say that if you can bring them a steady stream of new customers, in a way that is not time consuming, along with a process that manages itself - you will never be refused.

      The owners who have those 2-3 steady methods love them because they are simple, repeatable, and don't take up much time.

      I know one guy who has built his entire life on a ValPak ad. Nice home. Nice neighborhood, and all he does is tell ValPak to run the ads again in all the areas he covers. If I tried to sell him on something that will take up more of his time, he will ignore me.

      People want predictable income. People want freedom. And they want those things to come as easily as possible.
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      • Profile picture of the author mojo1
        Originally Posted by Dan McCoy View Post


        can bring them a steady stream of new customers, in a way that is not time consuming, along with a process that manages itself.

        are simple, repeatable, and don't take up much time.
        This sir is what I will communicate to the businesses that I target going forward.

        Thanks a million!
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    • Profile picture of the author DABK
      And 20% said the financial stability of their business.
      If they're not the same as the 24% who said their biggest barrier was marketing/finding new customers, we have it made!

      If they are, we have it made!

      Originally Posted by Recruitment Nick View Post

      28% said their biggest barrier was marketing/finding new customers

      THAT should get a few people thinking...we are marketers aren't we? Over 1 in 4 small companies say that their BIGGEST barrier is getting what we should be able to provide.

      Great infographic
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  • Profile picture of the author iAmNameLess
    Yes, but if you read the infographic, money is essentially the barrier to all the things they want.
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    • Profile picture of the author Recruitment Nick
      Originally Posted by iAmNameLess View Post

      Yes, but if you read the infographic, money is essentially the barrier to all the things they want.
      Indeed. So more customers mean more money, right?

      The problem is, of course, the lead time between what we do (be it website, SEO, lead gen, what have you) and that money coming in. But it's food for thought.
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      • Profile picture of the author DaniMc
        Originally Posted by iAmNameLess View Post

        Yes, but if you read the infographic, money is essentially the barrier to all the things they want.
        Originally Posted by Recruitment Nick View Post

        Indeed. So more customers mean more money, right?

        The problem is, of course, the lead time between what we do (be it website, SEO, lead gen, what have you) and that money coming in. But it's food for thought.
        I hear exactly what you are saying but I kinda look at it another way.

        When a business is struggling (like many of the people here) money is all-important. It's all people can think about because they are living hand to mouth.

        So, I think a lot of the people here approach business owners thinking that their priorities are the same.

        What took me a little while to learn was that after the business creates some form of stability, you aren't just thinking about money so that you can eat. You start looking at the nice ways you can spend that money. You start desiring some independance.

        I think after the business is running smoothly, business owners stop looking at money as food and start looking at it like a tool.

        Money is just a tool to accomplish the other things they want in life. So, while more money is definitely important, it isn't really the biggest goal.

        The lifestyle choices that money buys becomes the real goal.

        So - if people are pitching and they are expecting to only play on greed, they may not do as well. But, if I can offer something that helps the business owner get more money without more work or hassle, maybe even freeing up some of his time - the sale is much simpler.
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        • Profile picture of the author iAmNameLess
          Originally Posted by Dan McCoy View Post

          So - if people are pitching and they are expecting to only play on greed, they may not do as well. But, if I can offer something that helps the business owner get more money without more work or hassle, maybe even freeing up some of his time - the sale is much simpler.

          Never underestimate the power of greed my friend! Most people are very motivated by greed, either wanting more money or afraid of losing what they have, the emotional triggers to use is the hard part.

          I do understand what you're saying though. For many companies it really isn't about money directly, in terms of profits but maybe it's for Christmas bonuses, maybe it is for steady work for their crews, maybe it is to be able to provide another job or two. Lots of different motivators involved.
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          • Profile picture of the author Recruitment Nick
            Originally Posted by iAmNameLess View Post

            Never underestimate the power of greed my friend! Most people are very motivated by greed, either wanting more money or afraid of losing what they have, the emotional triggers to use is the hard part.

            I do understand what you're saying though. For many companies it really isn't about money directly, in terms of profits but maybe it's for Christmas bonuses, maybe it is for steady work for their crews, maybe it is to be able to provide another job or two. Lots of different motivators involved.
            I think for many companies past a certain point it's a trade off of time vs money. Right now I'm gathering seed money to start a recruitment business, so any money coming in is useful. But past a certain point it is time and effort vs reward.

            For instance if I had a consistant supply of money coming in and my business was comfortable, if someone came to me needing to hire someone with a specific skill set but the %s weren't good, I'd say no (I work recruitment now and won't work any roles that pay less than 15% of annual salary). Simply because whilst it may be money, the stress and effort are not worth the pay off vs finding other roles that pay a better % and income.

            In cases such as SMBs (think you use SMEs in the States) where they have reliable income and are looking to grow, not all money is made the same. If you can show you can bring in x amount, then great, but it needs to be framed in a way that reduces effort for the owner, or at least any additional effort is met with a better pay off than the calls on their time now.

            We see it with recruitment all the time. One of my USPs is I let the hiring manager know each step I have taken, boolean searches used, etc (I don't know anyone doing that). Managers like seeing the workings, but in most cases they don't want to be involved (some do) in the search as that takes time, they just want the end result - 3 or 4 targetted CVs they can take to interview. They trust me to do a good enough job that their time doesn't need to get involved in correcting my searches, etc. Taking someone on is important to the business, and important in terms of money paid - but they are paying for time and effort saving (plus learning curve and paid access to job boards, etc) by having me do it vs doing it themselves.

            As ever in my posts I'd say I'm no offline expert. I'm just starting in lead gen and whilst I'm good at my job (environmental recruitment) I'm coming at it from an angle of being an employee, not a business owner or an offline expert.

            Got to admit this thread has really got me thinking, cheers Dan (and IAmNameless for providing a reminder of the greed aspect - it never pays to dismiss that completely).
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          • Profile picture of the author Peter Lessard
            Originally Posted by iAmNameLess View Post

            Never underestimate the power of greed my friend! Most people are very motivated by greed, either wanting more money or afraid of losing what they have, the emotional triggers to use is the hard part.

            I do understand what you're saying though. For many companies it really isn't about money directly, in terms of profits but maybe it's for Christmas bonuses, maybe it is for steady work for their crews, maybe it is to be able to provide another job or two. Lots of different motivators involved.
            I agree. It is also VERY important to note that what people answer in a poll or will admit to publicly and what they are really seeking are two different things.

            Publicly people want peace on earth and to provide a quality service at a fair price blah blah blah... :-) Deep down inside many have many very animalistic and emotional reasons they do things. Figuring out how to recognize and tap into those is critical. I have watched business owners spend MASSIVE amounts of money just to teach a nearby competitor a lesson just due to some perceived slight that may or may not of even happened. One month I saw a pizza guy spend 6 times his normal monthly rate on ads/flyers for 2 months running just to bury a guy down the street.
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        • Profile picture of the author mjbmedia
          Originally Posted by Dan McCoy View Post

          What took me a little while to learn was that after the business creates some form of stability, you aren't just thinking about money so that you can eat. You start looking at the nice ways you can spend that money. You start desiring some independance.

          I think after the business is running smoothly, business owners stop looking at money as food and start looking at it like a tool.

          Money is just a tool to accomplish the other things they want in life. So, while more money is definitely important, it isn't really the biggest goal.

          The lifestyle choices that money buys becomes the real goal.

          So - if people are pitching and they are expecting to only play on greed, they may not do as well. But, if I can offer something that helps the business owner get more money without more work or hassle, maybe even freeing up some of his time - the sale is much simpler.
          oh yes indeedy http://www.warriorforum.com/offline-...ml#post9296676
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  • Profile picture of the author socialentry
    Geez, for me it was always the contrary.

    It seems to me that SMBs have less freedom in general, and far more responsability then being an employee.

    90% employees = punch in clock at 9, go to home at 5, watch TV,sleep
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  • Profile picture of the author JulieWhite
    I found this to be a somewhat funny coincidence:

    Are you optimistic about the second half of the year? : 83% said yes
    Would you be hiring new employees in the second half of the year? : 65% said no.

    So perhaps they are optimistic because they won't have to deal with new employees, lol
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    • Profile picture of the author Recruitment Nick
      Originally Posted by JulieWhite View Post

      I found this to be a somewhat funny coincidence:

      Are you optimistic about the second half of the year? : 83% said yes
      Would you be hiring new employees in the second half of the year? : 65% said no.

      So perhaps they are optimistic because they won't have to deal with new employees, lol
      Remember that an x percentage of SMBs are going to be "lifestyle" companies, that employ anywhere between say 0 and 10 members of staff. The managers are comfortable at level and don't want to take it past.

      From talking to many SMBs about recruitment in my "day job" many are wary of taking people on. There was a big uptick in the UK (for me) around Jan till May - the new year and the new financial year. Many are now wary of taking more people on because they want to see how sustainable the recovery is.

      On top of that many are telling me that levels of business are back to where they were precrash, but margins on business are growing at a far slower rate. Until suitable margins are available people don't want to take on new staff members. This is where showing greater income, with less effort and hopefully good margins, can help you to stand out.

      It comes as no surprise that the busiest dept in my company are those recruiting sales people at the moment, they want to take advantage of the amount of business out there, but will wait on "delivery" aspects until margins get better, and just get people working harder/overtime in the mean time. Not sustainable long term but it lets them assess the market with less risk, and sales people know they live and die by what they produce so won't be shocked if they're let go if sales don't come in.

      Growth is happening, and people are hiring, but it is with an eye on economy as to growth, rather than just hiring because things are picking up. Given the recent history, it's hard to blame them.
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  • Profile picture of the author GloriasRosse
    SO DOES IT MEAN THAT IF YOU DON'T HAVE SINGLE AMOUNT OF MONEY YOU CAN DO ANYTHING?
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  • Profile picture of the author umc
    That's a great infographic. It just goes to prove the validity of what I've always heard, which is that autonomy is the most important thing to most people. We all want the freedom to pursue a life that is in line with our wants, needs, and values. People don't want to buy a service or start a business or get a job or whatever, they want what that service/business/job provides them that falls into those three categories.

    In my business (cleaning) I started it chasing money because it was more than I could make at other things I was doing. I was miserable. When I realized the things that my business brought me other than money and really appreciated the autonomy that I had and the benefits of helping others in my business, I found gratitude and really started to love it. So sometimes you can start for the wrong reason and end up in the right place later if you adjust your mindset. It would be much better to go in with the right motivations in the first place though.
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    • Profile picture of the author DaniMc
      Originally Posted by Recruitment Nick View Post

      Remember that an x percentage of SMBs are going to be "lifestyle" companies, that employ anywhere between say 0 and 10 members of staff. The managers are comfortable at level and don't want to take it past.
      Many small companies can make a LOT of cash for the owner without very many employees. To me...this is the best situation. High profit without a lot of headache.




      Originally Posted by GloriasRosse View Post

      SO DOES IT MEAN THAT IF YOU DON'T HAVE SINGLE AMOUNT OF MONEY YOU CAN DO ANYTHING?
      You can absolutely get started without money. In fact, I recommend that people never use money to get started. You must identify something you can do. Something very simple that earns more money than it costs to perform.

      The key is to get very, very good at this simple thing through lots of repetition and real world practice. As you get better, you raise your prices.



      Originally Posted by umc View Post

      In my business (cleaning) I started it chasing money because it was more than I could make at other things I was doing. I was miserable. When I realized the things that my business brought me other than money and really appreciated the autonomy that I had and the benefits of helping others in my business, I found gratitude and really started to love it.
      This has been my experience also! When I was just chasing money, I was not very happy. When I started focusing on happiness instead of money, life became much better. The thing is, I also started earning more money than before.

      In my mind...the goal isn't to be rich....the goal is to be happy. Many people believe being rich is the only way they can be happy. Having all my needs met is definitely PART of happiness...but it won't make me happy. Don't get me wrong...I LOVE money and want more of it. People who say you shouldn't love money have probably never had much of it LOL.

      “When I was 5 years old, my mother always told me that happiness was the key to life. When I went to school, they asked me what I wanted to be when I grew up. I wrote down ‘happy’. They told me I didn’t understand the assignment, and I told them they didn’t understand life.” ― John Lennon
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      • Profile picture of the author Recruitment Nick
        Originally Posted by Dan McCoy View Post

        Many small companies can make a LOT of cash for the owner without very many employees. To me...this is the best situation. High profit without a lot of headache.
        Indeed, that's what I meant, though obviously I didn't explain myself well. One guy I used to work is now running his own "recruitment business". It's inverted commas as he has one part time admin woman and him. He knows he can do about £250k p/a ($400ish? around that anyway), and that suits him - not having the headache of managing people, worrying about what they're doing, etc.

        He has set clients he knows well, and a market that is clearly defined. He has reached a point where candidates and clients come to him first, so his work load is far lower.

        And $400k isn't big money compared to many types of such businesses that can make the money without the headache, but is a perfect example of a company that thinks things are improving but won't be hiring in the next year.
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  • Profile picture of the author umc
    There's a book by Tal Beh-Shahar called "Happier". In it he labels happiness as the ultimate currency, and that book was the start of me changing my perspective. It is a great book.
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    • Profile picture of the author DaniMc
      Originally Posted by umc View Post

      There's a book by Tal Beh-Shahar called "Happier". In it he labels happiness as the ultimate currency, and that book was the start of me changing my perspective. It is a great book.
      Thank you for the recommendation. I just bought the book and put it on my reading list.
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  • Profile picture of the author BacklinksPlus
    I've been trying to convince my landlord and the electric company it's not all about the money. But there not hearing it. Lol
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    • Profile picture of the author DaniMc
      Originally Posted by plessard View Post

      I have watched business owners spend MASSIVE amounts of money just to teach a nearby competitor a lesson just due to some perceived slight that may or may not of even happened. One month I saw a pizza guy spend 6 times his normal monthly rate on ads/flyers for 2 months running just to bury a guy down the street.
      For the Pizza guy...I'm all for it! A competitor was upsetting his feelings of stability. So he did his best to take him out.

      Mopping the floor with a competitor is part of business.

      As I stated previously, once people have their basic needs met and the business is stable...money is a tool. The goal isn't just money. The goal becomes freedom or a certain lifestyle.

      I do better selling the freedom or lifestyle goals...not just the money. When I talk about stability or helping them set up processes that are "hands off" - almost every business owner I speak with is eager to hear more.

      Every "marketer" who pitches them is talking about money. Switching gears to stability and freedom works much better for me.

      Then again, it is possible that I have a selection bias. The people I "click" with are often a lot like myself.


      Originally Posted by BacklinksPlus View Post

      I've been trying to convince my landlord and the electric company it's not all about the money. But there not hearing it. Lol
      This is hand-to-mouth thinking. People who are living in this mode will be able to think of little else besides money. Once the business is more stable, the day to day needs are met, and your pay is predictable and satisfying, your desire for money (hopefully) will be centered around growth objectives, rather than eating and staying alive.
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