No matter where you are in your business, the question is the same when it comes to paying for educational courses or consulting. Answer it honestly and you will know exactly when you are spending wisely and when you’re just throwing your money away.
I have an old desktop computer back at home in Perth. It’s the one I used when I was first starting in online marketing.
There’s a folder on it called “Education” that is full of e-books, reports, e-courses and other materials…
…that I purchased and downloaded.
I’m not too proud to tell you that while I did read, listen, or look at all of it, more than 90 percent of it is stuff that I never used or implemented.
In 2009 and 2010, I hadn’t yet figured out that more knowledge does not equal more success or income. Back then, I got offers from marketing gurus via email every day.
I read the emails, read their sales pages and I bought a lot of their products. I was on a constant information intake. I’d even have instructional videos or podcasts playing in the background while I was working.
As I’ve stated, I did nothing with the greater percentage of it.
If you’re reading this, you are probably new to internet marketing. You might be in learning mode yourself and think that if you just knew a bit more about this or that, you would suddenly start making money.
I speak from experience (i.e. struggle) when I tell you, that is not how it works.
You don’t need to learn about all aspects of online marketing before you can succeed at it.
The Sole Criterion
Wherever you are in your business—beginning or experienced—there is only one question to ask when you’re staring at some new, irresistible offer: “
Do I need this information right now to get my business to the next level?”
When you’re just starting out, “the next level” is making your first sale. So what do you need to know in order to make your first sale? If you’re doing online marketing, first and foremost, you need to understand paid traffic.
You may also need to know about copywriting if you’re going to be writing your own ads and follow-up emails.
So, purchase a program that teaches traffic. Learn about copywriting. Ignore everything else.
I always urge people to go through the entire course once—twice at the most—to get familiar with it. Then go back to the first section and pay close attention to it.
Study it for an hour and then implement what you learned for four or five hours. So, for example, study how to do Facebook pay-per-click ads for an hour and then go place ads for four hours.
You could also ask “What information do I need right now to get my business to the next level?”
This is not just for beginners. For someone who is making a lot of sales and is…
…unable to keep up with business in general, the likely answer to the question is: “I need to learn how to outsource non-cash-producing tasks so I can concentrate on sales and marketing.”
This way, you only buy what you actually need. It will keep your hard drive from getting cluttered with unused, unimplemented educational products and will keep you focused only on what you actually need to know.
My Own Business Education
Even someone in my position, running a company that’s produced more than $100 million in revenue, has business education needs.
No matter how far you go, you eventually reach a point where you’re not sure how to proceed. There is usually another entrepreneur who has “been there, done that” and can advise you. I use one such consultant at a cost of about $10,000 a month.
In 2015 alone, I spent more than $150,000 on consulting and education products that helped me take MOBE to the next level. It was money well spent and it allowed to handle only what I needed to handle to get to the next level.
MOBE’s focus is business education and training products so you might be surprised that my message isn’t “Buy more educational products!” However, as you will eventually discover for yourself, the only education products that have any value are the ones you need and which you implement.
Article curated from MOBE