Rich Cardona Media

129. Unclear Goals, Unclear Spending

On this episode of The Leadership Locker, Rich talks about the importance of defining and understanding your goals, so that you only focus on what will help your business move forward.

Personal Branding | Rich Cardona Media

—–

Connect with Rich:

Website

LinkedIn

Instagram

Facebook

YouTube

Transcript
Speaker:

Welcome back to leadership locker.

Speaker:

This is rich Cardona.

Speaker:

Glad to be back for one of these solo episodes, you are in the right place.

Speaker:

If you are inspiring entrepreneur, new entrepreneur, a seasoned entrepreneur,

Speaker:

and you are looking for knowledge, knowledge, how to knowledge from

Speaker:

industry experts and influencers or me.

Speaker:

Documenting the journey.

Speaker:

Okay.

Speaker:

I've no idea where this journey is going to go.

Speaker:

I have pretty confident it's going to go the right way for a very long time.

Speaker:

However, it's important that I share with you, the good,

Speaker:

the bad, the ugly, all that.

Speaker:

Uh, so that way you determine if it's useful or not, or you

Speaker:

could share it with your friends.

Speaker:

So by the way, share this with your friends.

Speaker:

If they're entrepreneurs, you know, we like to stick together really, really

Speaker:

fantastic episodes in the past and coming up, uh, that'll probably be very, very

Speaker:

beneficial for you to listen to this.

Speaker:

Listen to.

Speaker:

So look, I want to talk about how unclear goals equals.

Speaker:

Unclear spending.

Speaker:

Okay.

Speaker:

Money is tight.

Speaker:

Usually in the beginning, right money.

Speaker:

It can be very tight.

Speaker:

Maybe their margins are razor thin, or maybe you're making plenty

Speaker:

of money and are not sure where exactly to allocate that money.

Speaker:

While I was at the Philadelphia airport on a layover yesterday,

Speaker:

and I'm just like walking around, listening to some role-playing with

Speaker:

sales and sales objections that I've been really just all over.

Speaker:

And I look over to my right and I see a sunglasses hut and I see this woman

Speaker:

trying glasses on sunglasses hut.

Speaker:

And I see her looking in the mirror trying to get glasses on and I don't

Speaker:

know why, but I was, I thought about it.

Speaker:

And I thought about we as consumers or customers or clients.

Speaker:

We know instantly instantaneously, when we put a pair of sunglasses on

Speaker:

it, they're not the right fit by the way they feel, by the way they look.

Speaker:

And it's because we know the goal, which is not to look like an idiot.

Speaker:

It's freaking awesome.

Speaker:

And that's why we want a good pair of sunglasses.

Speaker:

That's why we take the time to try a couple others on.

Speaker:

Now.

Speaker:

Let's just say there's a hundred pairs of sunglasses in front of you.

Speaker:

You already know, you know, 80 of them, aren't going to work.

Speaker:

Maybe 50 of them are female sunglasses.

Speaker:

And you're like, I'm not trying to wear a female sunglasses.

Speaker:

If I'm a dude, maybe I don't know.

Speaker:

Okay.

Speaker:

And then you look at the other and there's like 10 aviators, and maybe

Speaker:

there's a bunch of wire frames that you don't like, and then there's Oakley.

Speaker:

And you're like, ah, I don't like Oakley, who knows.

Speaker:

Okay.

Speaker:

And maybe there's some blue tins and you're like, Nope, I like really

Speaker:

comfortable running sunglasses that are polarized lenses or whatever the hell you

Speaker:

call them and have rubber on the side.

Speaker:

So they don't slip off my head or the switch catches it.

Speaker:

And that they have, they look like mirrors.

Speaker:

I don't want anyone to actually see my eyes through the sunglasses

Speaker:

because I like that Marine mystique.

Speaker:

Whatever, like I'm literally completely making this shit up,

Speaker:

but anyway, we know what we want.

Speaker:

I know what I want.

Speaker:

And that's more important than anything is to not look like a freaking idiot.

Speaker:

I want to bomb ass pair of sunglasses so I can look great.

Speaker:

We know instantaneously what we don't like.

Speaker:

However, when it comes to business, those decisions seem and far

Speaker:

between like, there's not a lot of easy decisions because there's

Speaker:

so many different things to do.

Speaker:

Like maybe I need to do email marketing.

Speaker:

Maybe I need to run some Facebook ads.

Speaker:

Maybe I need to make some content.

Speaker:

Maybe I need to start a podcast.

Speaker:

Maybe I need an accountant.

Speaker:

Maybe, maybe I think I need a fractional CMO or CFO or who knows what.

Speaker:

The amount of things that we think we need are insane.

Speaker:

Okay.

Speaker:

But if we're unclear with our goals, we're going to be unclear with our spending and

Speaker:

we're going to spend all over the place.

Speaker:

Okay.

Speaker:

So why am I like, what the hell is this all about?

Speaker:

It's about.

Speaker:

Just recognizing that I'm a woman in that moment and knowing how many

Speaker:

times I've put something on and knew right away when it comes to business,

Speaker:

we spend a lot of time thinking about the best place for the money to go.

Speaker:

And more often than not the best place for the money to go as the place where

Speaker:

it is going to give you a return.

Speaker:

Okay.

Speaker:

Cause obviously we're all trying to scale our businesses.

Speaker:

We're trying to grow our business or we're trying to sustain the business.

Speaker:

And if we're very, very, very, very new than what we're just trying

Speaker:

to get some reps under our bell and make our clients very happy.

Speaker:

However, this becomes way more of a challenge.

Speaker:

If you have unclear goals and the water is murky.

Speaker:

Okay.

Speaker:

And look, this is, this is something that just resurfaces over and over

Speaker:

and over, because business is a progressive uncovering of what you

Speaker:

want to do, who you want to serve and how you want to serve them.

Speaker:

Okay.

Speaker:

But if your goals are unclear, it's going to lead to probably

Speaker:

spending all over the place.

Speaker:

And I've done that.

Speaker:

I've been there.

Speaker:

Done it.

Speaker:

And I've been there.

Speaker:

I promise you I've spent money on courses, conferences, coaches, all of that

Speaker:

shit courses, conferences and coaches.

Speaker:

Look at that CCC.

Speaker:

So, so what do I need?

Speaker:

I'm just gonna like share with you.

Speaker:

Like one of my goals, one of my goals is to buy or have my dream house built

Speaker:

and I want to pay for it straight up.

Speaker:

I feel like that's a gangster move.

Speaker:

It'd be like, here you go.

Speaker:

I don't want a mortgage.

Speaker:

I don't know how long that's going to take.

Speaker:

And a dream house does not mean 10 bedrooms.

Speaker:

It means exactly what we need for our family.

Speaker:

Maybe with a guest house for in-laws.

Speaker:

And maybe with a pool maybe with, uh, awesome iron paradise, who knows that's

Speaker:

a goal and it's not a material goal.

Speaker:

It's a financial goal.

Speaker:

So, what do I need to do to get there?

Speaker:

And it does my critical task list for the day, reflect those

Speaker:

goals in terms of spending.

Speaker:

Okay.

Speaker:

So I look at the reserves.

Speaker:

I look at what's coming in, I look at the P and L I'm like, okay, what can I, I came

Speaker:

so I can allocate, I could grow allocate.

Speaker:

I could record more podcasts because the more this podcast continues

Speaker:

to do well, the more I'm going to be able to secure sponsors,

Speaker:

which I just secured my first one.

Speaker:

It's a great deal for them.

Speaker:

And for me, so.

Speaker:

They are going to help fund the podcast.

Speaker:

I'm hopefully gonna bring them business because I very, very, very, very much care

Speaker:

about their business and what they do.

Speaker:

And I believe in it.

Speaker:

So if I'm getting that sponsorship and that helps me interview greater

Speaker:

people and visit these people and bring a videographer was made

Speaker:

to take care of all that stuff.

Speaker:

What does that do?

Speaker:

Hopefully that makes the podcast too well.

Speaker:

It grows the brand and, and if it grows a brand, then people understand

Speaker:

what I do, who I am, and I could help them start a podcast, or I can

Speaker:

help them start video content, or I could help them in many different

Speaker:

ways, whether it's brand or strategy.

Speaker:

So on my critical task list, does recording podcasts grow the business?

Speaker:

Yes.

Speaker:

Just not immediately.

Speaker:

And people don't have the patience for that.

Speaker:

Okay.

Speaker:

So let's talk about investments that I didn't need to make.

Speaker:

Email marketing course.

Speaker:

I'm not an email marketer.

Speaker:

I don't have time to learn about email marketing.

Speaker:

I know it's relevant, but what I can do is invest the time.

Speaker:

Maybe not the money into growing my email list.

Speaker:

Okay.

Speaker:

I'm not, I can't pay someone to do that.

Speaker::Speaker:

Instagram and you know, a bunch of scattered all over the place.

Speaker:

And soon enough, that's going to be big.

Speaker:

It's going to be in the six figures.

Speaker:

Okay.

Speaker:

Uh, followers.

Speaker:

And that'll be great.

Speaker:

So what can I do?

Speaker:

What can I do to grow that email list with the people?

Speaker:

I know the people that already appreciate my content.

Speaker:

I can reach out to them and ask them to subscribe to my newsletter.

Speaker:

That's an investment of time, but it's worth it.

Speaker:

And it's been working so far and the people really appreciate it.

Speaker:

So that is an investment, but email marketing.

Speaker:

No, I don't need to do that.

Speaker:

I don't want to fucking go into MailChimp.

Speaker:

I don't want to make it all pretty.

Speaker:

I don't want to do any of that stuff.

Speaker:

Okay.

Speaker:

I don't want to learn code.

Speaker:

I don't want to learn how to make some website adjustments.

Speaker:

That's not.

Speaker:

That's not where I belong.

Speaker:

That's not what I need to be doing.

Speaker:

Okay.

Speaker:

So why would I invest in the investment would be in the person, but even

Speaker:

if I invested in the person or the service, does that mean it's actually

Speaker:

going to move the business forward?

Speaker:

I've quickly learned once again, that my website really doesn't mean a fucking

Speaker:

thing because I put so much content out.

Speaker:

That's actually probably the leading aspect of helping a prospect, make their

Speaker:

decision by seeing all my content, where I am, who I worked with and all that other

Speaker:

stuff, website is like kind of the final stop it's like, they really want to go.

Speaker:

So anyway, does that help me towards my goal of getting that house?

Speaker:

Yes.

Speaker:

Like are these critical tasks that I'm doing every day, somehow lead to

Speaker:

two things, one gathering an audience and those true fans, so to speak.

Speaker:

And second, is it going to generate revenue and right when you have that, it

Speaker:

makes it easy to take the sunglasses off.

Speaker:

AKA, it makes it easy to say no to meetings.

Speaker:

You don't need it makes it easy to say no to activities that

Speaker:

you don't need to be doing.

Speaker:

It makes it easy to say, no, I'm not going.

Speaker:

To lunch, just to go out to have lunch, I'm going to go to work.

Speaker:

I'm going to put my head down and I'm going to work.

Speaker:

Makes it easy to say.

Speaker:

I'm going to spend far more time on Instagram and LinkedIn than I did the

Speaker:

last year, because it's not doing shit.

Speaker:

It's not necessarily driving the business forward.

Speaker:

Okay.

Speaker:

I've realized like I could spend less amount of time and

Speaker:

get actually the same results.

Speaker:

So anyway, look, unclear goals equals unclear spending, and this

Speaker:

is not a place you want to be in.

Speaker:

Okay.

Speaker:

Now you are going to end up spending in a lot of places you don't want to anyway.

Speaker:

And you're going to look back and be like, okay, I learned from it.

Speaker:

That's going to be inevitable.

Speaker:

Okay.

Speaker:

Like it is, in my opinion, it is okay to kind of spend a try and

Speaker:

experiment, but you also have to not make the mistake I did, which is

Speaker:

just trying a lot of EV anything and everything, things I thought I needed.

Speaker:

Okay.

Speaker:

Really good marketers make you feel like, Ooh, this is a problem

Speaker:

I need to solve right now.

Speaker:

The only thing that's going to keep you grounded from not creating.

Speaker:

Problems that aren't really problems are knowing exactly what you want to

Speaker:

do and kind of reverse engineering from there and just saying, does

Speaker:

this get me closer to there?

Speaker:

Yes or no.

Speaker:

It's binary period.

Speaker:

Point blank.

Speaker:

That is all I got for today.

Speaker:

I'm going to end it right there.

Speaker:

Thank you so much for your time.

Speaker:

Look, I really want your input on guests.

Speaker:

Any guests, uh, that you think would be great.

Speaker:

I'm not looking for veterans.

Speaker:

Okay.

Speaker:

I'm looking for influencers, um, industry experts.

Speaker:

Uh, please DM me.

Speaker:

If you have any suggestions, number one, number two is pleased.

Speaker:

Just to like, look it's less than a minute.

Speaker:

If you'd go review this on Castbox Spotify, apple, that

Speaker:

would be ridiculously helpful.

Speaker:

And it would get the word out to more entrepreneurs last

Speaker:

but not least, if you are.

Speaker:

And I mentioned it, you're looking to start a podcast.

Speaker:

If you need video content and you know, you don't have the time

Speaker:

info at rich Cardona, media.com or DME on Insta or LinkedIn.

Speaker:

I absolutely could help.

Speaker:

I know what it's like, trust me.

Speaker:

I noticed like I could hardly keep up with my own stuff.

Speaker:

Uh, so I know other business owners absolutely have no time, even though

Speaker:

they recognize that this is actually probably a business need and a business

Speaker:

advantage and positioning themselves as an expert against their competitors.

Speaker:

So don't forget, you could reach out to me anytime, if you want to

Speaker:

inquire about some of that stuff.

Speaker:

That is all I got.