Before You Do One More Thing, Check Out These Warning Signs You Could Be Waisting Your Time
This Well-Known Principle Shows if Your Content Marketing Efforts are a Colossal Waste of Time
Knowing is half the battle.
And that applies to just about every field of human experience you can imagine – whether we’re talking about medicine or law or…
So in the hustle-bustle of the business world, you’ve got to constantly make this decision: “Do I delegate this part of my business to someone else or will I do it myself?”
Businesses that successfully grow and scale have learned how to delegate responsibly; on the other hand, some business owners – those who don’t strategically delegate – don’t see a steady rise in their income. Instead, their income seems capped year after year, with little improvement.
(Which sucks, to be honest)
Their income is capped because – let’s face it – there are only 24 hours in the day or 168 hours per week. You’d need megatons upon megatons of energy to carve more time out for yourself by manipulating the space-time continuum, an option which most business owners clearly don’t have :-)
What’s the main point we’re driving at here?
Well, because you only have a limited number of hours per week, there’s literally only so much that you – by yourself – can accomplish. So successfully growing and expanding your business requires that you either automate certain components of your company – or, barring that, you must delegate to qualified individuals and teams.
Because most business owners aren’t experts in everything, savvy business people choose to delegate business components and processes to those who actually have a proven track record and relevant expertise. If you don’t do that, you’ll wind up wasting a lot of time and throwing cash at solutions that work about as effectively as raking leaves in the middle of a windstorm.
That brings us straight to this question: are you spending too much time working on your content marketing and inbound marketing strategy?
In this case, the answer is beautifully simple: you’re spending too much time on your content marketing strategy if your time investment is not part of the 20% of activities (as ranked by time investment) that yield 80% of your profits.
We’re looking to Pareto’s Law here (otherwise known as the 80/20 rule), popularised in business culture by Tim Ferriss. Here’s how he defines it:
“80% of the outputs results from 20% of the inputs...80% of the consequences flow from 20% of the causes. 80% of the results come from 20% of the effort and time.” – Tim Ferriss, The 4-Hour Work Week
In other words, if your content marketing efforts burn up a lot of your time – and you’re not getting a very healthy ROI from that time investment – it’s time to start thinking about alternative options available to you.
So here’s a quick exercise you can do right now to determine if it’s about time you look to external content marketing expertise to handle the key parts of this kind of marketing: graphic and web page design, copywriting, content uploading, and coordinating all collateral across platforms.
How Much is Your Time Worth? Self-Exploration of Your Content Marketing Efforts
Open up your favourite word processor or get out a notebook. Then ask yourself this:
“How many hours per week do I spend in researching and executing my content marketing strategy?”
Write it down.
Then write down the answer to this:
“How much profit does my business get directly from my content marketing efforts?”
Once you’ve done all that, actively catalogue where all of your time goes during your business hours (this doesn’t mean 9-5 business hours, but it does mean all of the hours you spend during the week involved with your business).
Now what you will likely discover is that certain activities you carry out during ~20% of your hours yield roughly 80% of your profits.
The final question at this point, then, is: “Do the profits I receive from my content marketing justify the time I invest towards personally executing that part of my business?” If the answer is “No” – as determined by the above 80/20 analysis – then it’s definitely time you look to a dedicated content marketing team to take your business forward.
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