Don’t Have Sex With Your Expert
Rachel Henke is spot on with her post. It’s something that keeps poking me in the eye when I log on to FaceBook yet I remained stum on the point; why I’m not sure.
Thank you Rachel for awakening me on this.
There is a crowd of nouvelle entrepreneurs with commando marketing inflating the bubble of their industry; the “I’ve built a 7 figure income in 12 months and I’ll show you how” industry. The signal to noise ratio on FB and social in general is abyssal steep and the noise of the nouvelle entrepreneur crowd is deafening. Think of nouvelle entrepreneurs as the nouvelle riche of the 80’s and 90’s. Easily recognisable because arrogance is disguised as confidence and success. Recognisable that is if you can see through the disguise.
Their offer and apparent achievements are attractive, even to the point of being alluring, and sexy. The best ones create a oestrogen, progesterone and testosterone cocktail of the mind with G-Spot somewhere between the hip pocket and the mobile banking app on their phone, the interaction and final execution of which causes a dopamine rush, and the elation of just having walked across hot coals.
The “I’ve built a 7 figure income in 12 months and I’ll show you how” industry offer can be genuine and it’s definitely possible, so I’m not saying they are all liars and opportunists. In fact, I’m conflicted to a degree because …
… firstly my nature is to share knowledge and create wealth, so when you have a way to create more wealth in the world, it serves you and everyone to share that knowledge with others so that those who choose can follow in your initial footsteps, and at some point branch out to beat their own new path. You simply incubate them with, and accelerate their, knowledge along the early part of their individual journey …
… and secondly I believe that in pursuit of the first point above the interaction should be transactional. That is you are not a charity and your knowledge and time is valuable.
Now the nouvelle entrepreneur crowd have figured out that social media is like democracy because it listens to anyone who shouts the loudest. If they (nouvelle entrepreneurs) can put rose tinted glasses on the noses of enough people in the fastest time they will build sufficient momentum to peddle their system.
What they are still blind to, as is their movie theatre audience watching on in awe, is that real power operates silently in the background letting them have their 15 mins of fame, quietly watching them destroy the credibility of another potentially great industry.
I say potentially great because the potential for this industry is huge. People with integrity, experience, failures, and successes, thus real knowledge, can share and teach tools, techniques, and tips to a very broad audience who will synergise what they learn into new innovative knowledge.
The wealth that can be created is exponentially more than that which is mainly landing in the bitcoin, Stripe and PayPal accounts of the (relatively) few nouvelle entrepreneurs who are making the loudest noise.
In the earlier generations business was built to last. None as long as New York Gas Light (Con Ed) who’ll celebrate 200 years in 2023; nonetheless the idea of building a legacy was create something that will last and it was applied successfully for many years.
I am an advocate of the principle that business these days is built to synergise. That is, detach from any expectations that a company will be around in it’s current form in 20 years, 10 years, hell even 5 years in somes cases. Depending on the industry it may disappear well before then and be morphed into something better.
The concept of legacy has morphed from something physical for the few to something experientially tangible for the many, emanating from the vision of one or a few who inspire a group to exert effort and invest resources to bring about something lasting for the benefit of everyone else, provided it is valuable to their individual circumstances.
Business cycles are rapid these days. I get that. It is fundamental to some of the things I share with people. Businesses and business people need to be able to proact, act and respond when circumstances are foreseen or change.
Opportunities are everywhere. How can you tell which ones are genuine and will help you achieve your desires, intentions and goals?
My suggestion is that the litmus test of who to engage with to help you grow your business consists of these two questions.
- Has this person built more than one successful business over more than 12 months and sustained those businesses to a successful exit? Muscle building hormones will give you rapid physical growth but it is not a sustainable lifestyle. The same goes in business. In every venture I strive for rapid growth that leads to sustainable profitability and ultimately the three stages of exit.
- Does this person have a genuine vision for a values based legacy (not platitudes and your gut will know the difference) he/she wants to leave and do these values resonate with you?
Ticking both boxes is ideal. Ticking the first box is IMHO essential.
Look for people who have experience and can genuinely help you grow and expand to greater profitability.