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The Surefire Way to Beat Indecision

Indecision Sucks

Indecision Sucks

“One of the hardest things in the world to make is a decision.” While I’d like to attribute that quote to myself, I’m sure someone else coined that phrase long before I. As business owners we’re faced with problems that require decisions. One of the challenges we face when making a decision is to get bogged down into what Zig Ziglar called, “The paralysis of analysis.”

So then, how do we beat the paralysis of analysis and indecision? The surefire way to beat indecision is to ask a simple question: “What’s my return on investment”? That’s the FIRST question that should come to mind.

Whether the decision involves one concerning, time: “should I do this, or that”; or it involves money: “should I invest in this widget or that doodad”; the answer boils down to, “What’s my ROI“?

Let’s take business education as an example.

What’s a surefire way to beat indecision when it comes to business education?

In Dan Kennedy’s NO BS Marketing Letter for November 2014 he points out how it takes an average of 10 years for college graduates to earn back the money they’ve invested in their degrees…and that’s good news! Good news because a person who graduated back in 1980 took 25 years to earn back that investment. I believe two things are at work here, higher pay upon completion of college today, and the lower value of dollars since the 80’s. By the way, this information comes from Business Insider Magazine. For the full article, go HERE.

Dan goes on to raise a question, “When it comes to media or continuing education to build our businesses and grow our customer base, are we saying, “It’s too expensive,” rather than asking, “What’s my return on investment”? If we’re willing to drop tens of thousands of dollars on a college education that takes 10 years to recoup, why do we balk at marketing campaigns or education that can see decent returns in weeks or months?

I believe the answer lies in information and experience. By information I mean that information provided by our marketing department, adviser, etc. Is the information about the education system or media current, is it relevant, is it realistic? By experience, I’m talking about the experience we’ve had with other media campaigns, education programs, etc. as well as the experience of the media/education producers. Experience can be a good teacher—or it can hold us back.

So how do we avoid indecision and know we’re getting the best return on our investment?

The answer is research (information) and experience. Sounds like a bit of doubletalk, sorry about that, let me explain.

Let’s use a marketing training system as an example of what I mean. Let’s say we’re a small carpet cleaning business. I am the owner/operator and employ five other employees. My staff includes my wife who handles administrative and bookkeeping duties, and four employees each with a carpet cleaning truck. The business isn’t a franchise so I’m responsible for all sales, marketing, scheduling, purchasing, and everything else—sound familiar?

Up until this year, our average sale was $202 and we averaged 15 carpet cleanings per week per truck. Our gross monthly income was approximately $12,000; after payroll and overhead our net was about $6,000. In this tough economy sales have stagnated and I recognize I need to do something to increase sales. I’m not really a salesman, most of our current clientele is a result of the list I purchased with the business.

A friend of mine at the Chamber of Commerce mentioned to me the other day he was a member of Dan Kennedy’s Glazer-Kennedy Inner Circle (GKIC). He says since becoming a member two years ago his sales have been growing exponentially and I should take a look at one of the marketing programs GKIC offers, Magnetic Marketing.

After talking with him and reviewing Magnetic Marketing’s video online, I find the cost is reasonable.Now it’s time to go back and look at information and experience to determine whether this will be a good return on investment.

From what I see the information provided by Magnetic Marketing is current, relevant to my business, and as near as I can tell it’s realistic. I find most of that information in the sales materials but also in researching reviews online, reading testimonials, and talked with my friend at the Chamber.

Next, I look at experience. I’ve never really done anything resembling this type of marketing, but then I’ve done very little marketing at all so I have little experience. Again, turning to the materials I see others who’ve been in the same position as me and who appear to be doing well with this program.

Now it’s time to do the math…for the cost of less than two carpet cleanings I can learn how to effectively market my company without cold calling and spending inordinate amounts on advertising. It looks pretty good. What pushes me over the top is the One-Year Money-Back Guarantee…how often do you see a guarantee for that long? I’m in!

That’s just one example of how to beat indecision by looking at the return on investment. As I mentioned we can do the same with time and other possible decisions in our business. Break the challenge down to information and experience then go for broke!

So the next time you’ve faced with an important decision, as yourself, “What’s my ROI”?

Here’s to your success!

How about it? Do you make decisions based upon ROI? Leave a comment below.

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Keith is the resident writer and troublemaker at Empowered Pros.
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