If you want to experience consistent, lasting business growth this is a mindset you cannot have. Here's a hint...it has to do with patience.
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You’ll Never Create Lasting Business Growth If You Hold Onto This Risky Mindset
If you want to experience consistent, lasting business growth, you cannot have this mindset. Hi, I am Tim Fitzpatrick with Rialto Marketing where we believe marketing shouldn't be difficult. All you need is the right plan. I want to thank you so much for taking the time to tune in today. We're going to jump into a mindset that I see people have all the time, and it's very detrimental. And hopefully by the end of this, you'll see why.
So I'm going to start by sharing a quote from a gentleman by the name of Billy Cox. He is a keynote speaker, sales trainer. And Billy said, you can't build a long term future on short term thinking. I want to say that one more time, you can't build a lon- term future on short-term thinking.
Short term thinking is a super risky mindset, and it's one that I see all the time, especially in marketing, but just in business in general. And there's so many people that just don't have patience and they think short term all the time. I'm going to give you two examples of why I think this is a really risky mindset to have.
So from a marketing perspective, it's risky because marketing is a marathon and it is not a sprint. If all you care about is how you can get results, generate leads, bringing new customers today, you are bound to jump from one marketing tactic to the next with little results. The reality is, most marketing takes time. Okay, it takes time. And if you lack the patience and a long term perspective, you will not give things enough time to see results. Can we get quick results with certain marketing tactics. Is their low-hanging fruit for every business? Absolutely. Yes, there is. But most tactics take time. At least 90 days. Some take much longer than that. And look, there are marketers that are going to tell you that's total BS and you can get short-term results. I don't think they're serving their customers well because they're not setting up proper expectations. Anybody that's being honest is going to tell you that the reality is most things from a marketing perspective take time. So you have to have a long term perspective and you have to give things enough time to start to see results or to see what's working and what's not. So you can make course corrections. If you have short term thinking, you are bound to jump from one marketing tactic to the next and you're just going to spin your wheels. That's the first example of why I think it's a risky mindset.
The second example is that if all you focus on is a short term, you are also bound to make decisions for your business that are going to negatively impact the long term potential and your long term growth prospects. Okay, so here's an example, a real world example that I had. The first business that I was a partner in that I got involved in, I became a partner in was a wholesale distribution company. We ended up selling that company in 2005 to a public company, and I worked for that company for another three and a half four years. In 2008. We all know what happened. The financial collapse. Things melted. In early 2009, business was not great. It was decent, but it wasn't nearly as good as it had been. The company started managing and making decisions based on how they can impact the short term, the quarterly financials, right? That's public companies are notorious for making short-term decisions because they have shareholders they need to keep happy on a quarterly basis and they pay for it long term, in my opinion. But the company was looking at "Gosh things are not great. How can we make these financials look better this quarter?" And what they chose to do was close 30% of the branch locations that we had across the country. So our business, depending on the location, we'll call business, so clients drove to the location, picked up equipment, paid for it, and left. They did not have it shipped. Depending on the branch location. It was not uncommon to have 50% to 70% of our business through pick up. So when the company closed 30% of those locations where customers were picking up product over the long haul, we lost business because of that. Because they wanted to pick it up. So they found other local suppliers where they could pick the products up. That negatively impacted the company long term. It may have made financials look better. In the short term, we lost top-line revenue as a result of that. So gosh, that quote from Billy Cox was a really great one.
But I want to leave you with another one from Jeff Bezos, who I think is an amazing long-term thinker. If you think about where Amazon started and where they are today, it's actually mind-boggling. But Jeff Bezos was quoted saying, if we think long term, we can accomplish things that we couldn't accomplish otherwise. Long-term thinking and patience is so critical to our success as business owners and as entrepreneurs. So I would encourage you if you find yourself falling into that short-term mindset, which I think we all do from time to time. We need to have the self-awareness to pull ourselves out of that. And ask yourself, if you were thinking long term, would you make the same decision? My guess is in most cases, you would not.
The risky mindset is short term thinking shift to a long term mindset have patience and I think your business will be much better off in the long run because of it. I hope you found this helpful.
Again, I am Tim Fitzpatrick with Rialto Marketing. If you are struggling with your marketing, you've hit a ceiling. You're not sure what that next right step should be to break through it. If you're trying various marketing tactics and nothing seems to work head on over to our website at Rialto Marketing dot com. That's R-I-A-L-T-O Marketing dot com. Click on the Get a Free consultation button. I would be happy to chat with you. There's no pressure for me, but if you are struggling and you're not sure what that next step should be, I guarantee you will get a ton of value from that call. So hop on over there. Schedule that call, and I will give you some clarity on where you should be taking that next step. What's the next right step for you based on where you're at. Thanks so much for taking the time to tune in. Until next time. Take care.