You Get What You Pay For!
We're all trying to do more with less.
But what happens when we cut things a little too lean and the result just plain sucks? OOPS.
As the child of two depression kids, I was raised to be frugal, to 'save for a rainy day' - to be always ready for economic disaster. I stopped short of stuffing the mattress with cash. But for years I was afraid to spend money on the right things in my life. I was a hoarder and I admit it.
Contraction is not a path to success.
That's true in life and business.When we contract our beliefs, our actions, our spending - we're asking for contraction in the results.
A former client called me last week. I'd helped them define their go-to-market strategy and positioning. They'd decided to go with someone more 'cost effective' for the much larger execution project. I wasn't willing to drop my rates (which I'd already heavily discounted on the promise of the entire project) so they moved on.
My client told me that the results had been less than he'd hoped. They weren't awful, but they weren't what we'd expected. My response?
You get what you pay for!
I didn't say that to him directly - I'm not that obnoxious! But I thought it. And I bet he did as well.
The strategy was compelling, powerful and high value. The execution required an investment that matched that power. Instead of entering the market with a bang, they'd entered with a whisper.
I gave him a few thoughts on how to address the issues and salvage the opportunity. All of which involved spending more money than if he'd done things the right way in the first place.
Be thoughtful when cutting corners!
Contraction is great for silly dollars. We all know there are ways to save and reduce spending, in our business and in our lives. But we must be conscious and selective about where we cut - and where we invest.
If all we do is contract, then how will we ever expand?
I learned that lesson recently in my own life. I had a choice. Go with a New York publisher for my book - change it, dilute it, make it conform to their (boring) norm. OR, invest in myself, breakout and take a new path. Publish it myself - my content, my way.
I chose the latter - after a lot of gnashing of teeth and other body parts.Talk about mom and dad's voices in my head! But it's the right thing to do.
With the help of a great friend and mentor, I found the perfect publisher! I met them last week and I love them!
Still, for my little depression-trained self - it's scary. But I know that contracting myself and my ideas is not the best path. So I'm practicing what I preach. I'm expanding and investing in myself. I've never been more assured that I was on the right path. It feels great.
Expansion breeds growth.
When we expect to expand, we open ourselves to the possibility of positive outcomes. We invest in those outcomes. When we contract our thinking - we plan for the potential negative and it comes right to us.
So the next time you're trying to find a way to cut corners on that important project, think again.
Are you being smart, or simply contracting out of habit?