Just a couple of months ago, I hit a setback in my entrepreneurial journey. I wasn’t generating enough sales from my side project. It was something I was really passionate about, and I had spent years of effort building the project.
However, I violated one of the rules of Google SEO marketing: you can’t sell ice to an Eskimo.
Here’s the demand for coaching in Singapore, from an SEO standpoint:
If you’re taking a conversion rate of 3% a month, I’m getting 2.1 leads a month. Not sales, just leads. It’s sobering to say that it’s not a sustainable business model if I were to only market my services through Google.
I was confused for a while, and I didn’t know what to do. Should I perhaps target the keyword: life coaching Singapore? Which has far more demand than the one I’m currently targeting.
Since there wasn’t much demand from an SEO standpoint here in Singapore. I got a little depressed.
I then play around the idea of selling online courses to the rest of the internet.
I’m no longer limited to local SEO and the marketing in Singapore. I got the entire internet as my potential customer.
That’s a pivotal moment.
In the past, I would get depressed and delete my projects. However, there’s no need to delete anything, it’s a matter of restarting and pivoting.
I was so invested in my abilities as an SEO expert that I had ignored other digital marketing business models. Furthermore, it was only through further education that I had learnt about the concepts of positioning and copywriting.
If you failed at one aspect of your business, don’t give up, just take the lessons, data, and move on to better models. That’s something that most people get wrong (including myself), we just give up and think that we automatically suck. We identify with the failure.
However, if you are able to take the step back and ask yourself what went wrong, you’ll be able to identify your errors point by point.
Here are some ideas:
- Did you track your key performance indicators?
- Did you define your target audience?
- Did you position your product or service properly?
- Did you write persuasive copy?
These were the glaring questions that I faced. I had to go back to the drawing block, and re-learn old strategies.
How to Deal with Business Uncertainty – The Pivot Mindset
The best people in the world are able to take information from anywhere and apply it to their current businesses or life. Just because a previous framework doesn’t work for you, does not mean that it won’t come in useful down the line.
The majority of businesses and startups are a constant pivot. You can be working on an angle (that you’re sure that will work) for months and end up having to change and pivot 6 months down the road. Whilst the majority of people will just give up there and then, you just have to take a step back and see what went wrong.
When things don’t work, just take a step back, and change course. That’s a pivoting mindset.
The advantages of digital marketing are that you can pivot fast. You can change your sales copy within a couple of hours. You can run a paid campaign and collect data in a couple of days. However, the fact that it’s so malleable, can work against you as well. You’ll need to test with data collected.
When you have a pivotal mindset, you’ll be able to deal with business uncertainty.
I teach all of these in my SEO courses.