Should We Compromise in Business?
Over the years I have seen some of my good business buddies go back to work. These are very talented people that gave every drop of sweat to their business.
Ultimately, the decision of going back to work just made more sense for them and their families. The ability to get a steady paycheck and work half the hours even sounds good to me at times.
We have all been there. It is late at night, maybe we are on our 5th cup of coffee and we are battling ourselves. We are asking, “is it worth it?” That indeed job posting looks really nice at midnight.
Once the coffee wears off and we finally get some shut-eye, we get up the next day and start up the grind again.
We just know that this has to work. If it does not, our family does not eat, and we let our kids down. So, we buckle up for another day and scrap and claw our way through this entrepreneurship thing. This is our life.
In the back of our mind, we are wishing, praying, hoping that we are going to get our big break. We want to go to sleep and wake up to a high performing Facebook ad that generates thousands of dollars of revenue.
Well, Buck-o, it might not be your time, yet. Building a business is hard work and building your dream takes time.
Reasons You Are Not Ready for Success
When I was forced out of corporate America and my nice cushy, high-paying job, I was not ready for the next adventure. I knew I wanted it, but there were tons of lessons that I had to learn, fast. I had the skills, education, and drive to build a business, but I was lacking a few key ingredients to really take off and flourish. To this day, I struggle to make this happen.
These skillsets are items that I am working on to this day. I continue to work and three core areas of business that I did not really learn in graduate school. I focus on leadership, systems, and learning from my failure. I know these three things will help me build the business I want.
Okay, this is going to sound funny. I have a master’s degree in leadership. Leadership is a skill set that I learned over 2 years, but its something that I am working on daily to improve. The ability to create and share a vision is difficult. The ability to find the right team to get the job done is hard. Leadership will separate your business from the rest. Leadership will help you build something sustainable.
In my early days, I thought I could do everything myself. Some of it was because I did not have the funds to pay others for their time. Some of it was because I had not truly become the leader that I needed to become.
This lack of leadership kept me from ever growing my business quickly. The ability to create and share a vision will set you apart from the rest. So, if you are not growing as fast as you think you should, it could be because you are not ready to lead a team. You are going to need your team to build a sustainable, growth-driven business. Work and learn about leadership daily.
Okay, I cannot stress the need for systems and processes in your business. Building a business based on systems is the only way to scale without adding headcount.
In my early days, I knew what I wanted to do. The problem was with any client, I would prepare a custom proposal and create tons of variations of the marketing tactics we used.
Building a repeatable system from intake to execution will help you build faster. Over the years I have developed a way to generate leads that are systematic and helps scale my business. The intake process, software, execution, and reporting are all the same. Yes, the message and targeting are unique to each customer, but this system has helped us shave hours off the setup and helped us focus on results.
Whenever your business has a standard process for getting something done, use it. If you can automate anything and save yourself time, do it. These systems are going to help you take your business to the next level. Without defining your system or process, you will never be able to scale.
Without a system or process, you are trading dollars for hours.
Okay. I have failed more times than I would like to admit. Every time I fail, it brings me closer to what I really want to do. I have tried opening a marketing & branding agency, I have tried building websites for clients, I have tried inbound marketing. For some reason, these ventures start and fail.
I mean I get things going, start making okay money and something happens. From bad business deals, partnerships, or lack of systems, things came crumbling down. I feel like I am always starting over.
However, this last setback gave me the clarity I needed to start Phoenix Marketer. I enjoy blogging, creating content, and sharing my knowledge. I also love setting up automated marketing systems that generate results with minimal effort.
So, through my 5 years of failure, I have finally figured it out. Sometimes you are not ready because you are trying to fit a round peg in a square hole. However, you have to fail enough times to get clarity on your mission.
I have finally found what it is I want and set myself up for success. I was not ready in the past, but now it is all system go.
Never Compromise to Speedup Progress
Over the years I have failed. For the most part, when I fail it is because I compromised something that I believe in to make money or try to speed up the process.
For example. CoBound, my marketing agency was founded based on compromise. Let me explain. 2 years ago, I made the decision to “partner” with another marketing agency because I thought the other agency owner was going to be able to help me build a bigger, stronger marketing agency.
It makes sense. Two awesome marketers are better that one. So, I thought.
I decided to give up on my agency and focus 100% on the new partnership. The problem was I stopped doing all the things that made me, me. I compromised what I set out to do, help small businesses grow.
We started hunting the White Whale, the largest revenue generating company in Arizona. We had some connection and tried to get in. We held meetings, created proposals, and did whatever we could to make a buck.
Things never worked out, we never landed the next big thing.
I still look back to this day and regret the decision not to push forward with what I was doing. I loved working with small business owners. I tried to speed up the process and it bit me in the rear.
So, that being said. We never want to compromise what we are doing to make money. When we do that, we leave with regret, loss of credibility, and hurt our community.
Compromise in Business leads to Regret
Like I said, to this day I regret the decision to focus on the White Whale. It set me back about 2 years. Now, we should never live with regret, but when we fail and fail hard it is hard to not think about the what if. The should’ve, would’ve, could’ve.
I will tell you this. I am 36, I believe that I am still in this game. I will never give up, it is not too late to make this thing happen. Yes, I have made mistakes and failed. Yes, I have regret about the decision I have made, but I will push forward and live in the now. Not in the past.
So, do not compromise what you believe or stand for. You will regret not doing it your way. In the end, the only thing that matters is your family. Put the regret of missed opportunities in the past.
Compromise in Business Decreases Credibility
Credibility is a quality of being trusted and believed in. When you compromise, you hurt your credibility by moving outside of your core capabilities.
As I write this, it is 3 am. I am awake because I could not fall asleep. I have been thinking about a client that I took on that was outside my core capability. I have been working in digital marketing for my entire life. Our client wanted an entire marketing team, so I rallied the troops, found a graphic designer and copywriter to get the work done.
We are being asked to do their print marketing and we have 0 experience. Every time we do a print job it takes twice as long to complete. This longer lead time and lack of experience are taking away from our credibility to get the job done. “Can these guys actually do marketing?”
We took the contract because, well we needed the revenue. This contract basically takes care of the entire agency at this point. Kind of.
Remember, credibility is like a bank. You make deposits and withdrawals. The problem is it is not a 1 to 1 ratio. You can build up your credibility over time and with one action you can empty your account.
When we compromise, we take away from our credibility. This hurts our business and our reputation. Take it from me, never compromise what you believe to speed up the process.
Compromise in Business Hurts Your Community
When you compromise, you hurt the people around you. By going after the White Whale, it hurt my relationships with the smaller businesses that I was working within the past. Sure, they understood that higher paydays are needed and supported me along the way, but I could have put their business in jeopardy as well.
I also placed my family at risk. I had built a nice little customer base and by focusing on the wrong things, I put a burden on my family. This leads to stress with the ones you love. Never a good thing.
When we place our community at risk, sometimes we never recover. Sometimes we are lucky and are able to rebuild the relationship. But never put yourself in that situation. Compromise will lead to hardship on your relationships that you worked so hard to build.
We are the Dad’s that have taken the risk to build a better future for our families, the DADPRENEUR. This is either through increased pay, more time, or whatever makes you tick. I want us all to remember that the process takes time. Sometimes you need more time to figure it out. Sometimes we make mistakes and compromise what we already built.
One thing that is true, we are able to overcome and restore. We will build on our failures and learn in the process.
I hope this blog has helped you in some way. I would love for you to leave a comment and be open about your struggles. I think we can all learn from each other.