Four months ago, we opened registration on a course with the intention of keeping the doors open long-term. Our strategy has changed, and this new approach will actually be better for everyone involved.
In June of 2015, I launched my first video course, The Get Noticed!™ Theme Unlocked.
Registration was open for just ten days, and we generated roughly $10,000 in sales from a list of about 250 people (full story here).
Then we closed registration for three full months.
When we re-opened registration in September, we added a new twist to try something out.
Launching a business or product is risky. You’ve got time, attention, and usually money all on the line. But what if it was possible to test your idea, so you can anticipate success before going all in?
Five months ago this week, I had what might be called a “rude awakening”.
I realized there were about seventeen dozen things I never learned about raising a child until my wife and I had a baby ourselves.
Things like how to predict spit-up trajectory, comfort a child after his first big fart, and somehow write a blog post while making a newborn laugh at the same time.
Building a business often feels exactly the same way.
Running a business feels like flying without radar―there aren’t any roads in the sky! Most business owners make decisions based on their gut, but they’d make better decisions if they calculated their ROTI.
Your ROTI (or Return On Time Invested) is an important business metric to monitor, if you want to make decisions based on cold, hard facts.
In a previous post, I broke down the purpose of ROTI, and three metrics for measuring the value of your time. They were:
- Average ROTI,
- Peak ROTI, and
- Target ROTI.
The metrics relate to each other like this:
Business owners often feel like they’re being pulled in more than one direction at a time. This leads to the question: How do you determine which direction is the most effective use of your time?
When I first launched MeeseWorks in early 2015, I sought out successful business owners I knew for their advice. Luke Stokes (co-founder of FoxyCart) gave me this nugget of wisdom:
Track your time for every minute you spend on your business. This will help you hold yourself accountable by comparing your results to where you’ve actually invested your time.
When I first heard this, I thought it seemed strange. “Clocking in” seemed too much like my hourly day jobs from the past.
Unlike most blog posts, this one is primarily for me. It allows me to process where I’m at, and where I’d like to be headed. I share this in the hope that you can benefit from my journey in some way.
I’ve never truly done an annual review before, but this year I was inspired by Nathan Barry’s annual review, and then James Clear’s as well.
Want to create a “Year in Review” post of your own without
writing 1413 words? Check out myyear.co