Keeping The Winners And Cutting The Losers

- Personal Assessment

By keeping the winners going and cutting the losers you can accumulate enough income to invest in bigger and better versions of the below assuming it will continue to grow your income without compromising any constituents’ experiences, but instead optimizing and expanding when best to do so.

Losers

• Using 3rd or second-party platforms for admin (go in-house)
• Using low cost staff, (do it yourself or get higher quality and pay more instead)
• Dispersing your assets (keep all like assets together instead)
• Low volume care and detail in service, flipping, prospecting, content/marketing or production (always remember required scale is probably 10–100X or more the volume, quality or relevance than you may initially feel)
• Letting unnecessary liabilities go unmanaged, continuing to pay for unnecessary costs
• Not consistently paying attention to keeping track of income VS spending

Winners

• Services – Video Production, Writing/Editing, Engineering, Wellness (App)
• Flipping – Games, computers, instruments
• Prospecting – IRL, long term online, live stream special offers funnel, campaigning
• Content/Marketing – Medium, Videos, Memes, Promo, Blog, LinkedIn: (+ ads)
• Production – in-house developed digitally or physically distributed products
• Studying – your craft, your micro market, courses, macro trends, competitors, idols
• Investing – assets that increase in worth over time

More On Expansion

Expansion does not necessarily need to be infinite because over-expansion would decrease efficiency and increase costs effectively going against the – keep the winners going and cut the losers – ethic. Therefore you use the top strategy to give you a foundation to grow without prioritizing growth metrics that can end up hurting the long term bottom line. You will not be able to accomplish the scale, quality or relevance required if you spread yourself too thin with expansion too big and too fast. However if it is possible to increase your positive outcomes without compromising your experience via expansion, do so until that is no longer the case. Examples of expansion are larger projects in the same field, higher ticket sales, more mainstream reach and famous endorsements or prestigious collaboration. Those are not the means to the ends but instead potential enhancements, when employed appropriately on top of a solid foundation that does not require reliance on them to succeed.