“Do you want to make money sitting down in your chair doing nothing? Are you tired of 9-5 job? Well, no more! I have come up with a way where you can make $1 million in 2 weeks by doing these 3 things”. We have all seen this advertisement. People are so enticed because we live in a society where everything is instant gratification. If it was that simple everyone would be doing it.
I believe that if you want to build a business worth millions of dollars you can do it through a lot of hard work! Outside of being a trust fund kid (which there is nothing wrong with), making a million in 2 weeks is a hard sell. We have seen $100 million companies go out of business, so in starting a company, the hardest thing is sustainability. If you are starting a marketing agency like everyone in their mom, once you get a couple of clients, you think that you are in the clear. Thinking like this is a sure way to drive that business into the ground.
Many companies fail because they have people at the top who are only concerned about short term wealth. According to The Huffington Post, “The pursuit of wealth itself can also become a compulsive behavior”. For most people, it is about the next sale and the ROI (return on investment), but nobody cares what’s next.
The worst mistake you can make is poor branding. Some companies are huge and they still don’t understand branding. Think about Disney, Google, Vaynermedia, Apple, and Facebook. These companies understand branding; they are thinking about the long-term company health as well as understanding the difference between fads and culture shifting.
Companies make huge mistakes when they can’t connect with their audience and focus on just short term wealth. There is a world where you can care about the health of the consumer and make a profit. Look at a company like Disney who has taken branding to an insane level. People spend their life savings at Disney because the connection with the consumers and the Nostalgia behind their branding!
Ultimately, as a business owner, you must decide where you want to take your company! If you want to build a company and sell it; you can just worry about the profit, but if you want to build a company for the future that can change the landscape of business, you must understand branding and have a passion beyond making money in order to run a successful business.
I have interviewed numerous CEO’s, entrepreneurs, small business owners, big business owners, and they all say this same thing.
While making a lot of money in a short period of time seems fun and the “thing” that’s popular, there is so much value in working your butt off in branding; then you reap the benefits of your company booming.
The key to success is being patient! Go 100mph toward your dreams and goals, but be patient and enjoy the journey!