Ep 74: The Common Mistake That's Costing you Time and Money

Jul 18

In this week’s episode, I wanted to discuss a common challenge that many business owners face. It's a quick piece of advice, but trust me, if you overlook it, you'll end up wasting a lot of time in your business. Usually, I bring you practical strategies and tactics, but today I have a simple word of wisdom that can be a game changer.

During a recent mastermind call I hosted, one of the participants asked a question that had a quick answer. She wanted to know how to update her pitch deck for school presentations. You know, those presentations where you use tools like Keynote or Google Slides to pitch your ideas. She wanted to make it look nicer and sought an expert's help to improve it.

In the past, my instinct would have been to Google search for an expert or recommend someone I know. However, over time, I've learned to read between the lines and put on my coaching hat. I aim to help people solve the right problems rather than simply providing a quick solution.

Unpacking the Problem

So, I asked her a simple question: "Why do you want to update your pitch deck?" She replied that she wanted it to look nicer. I followed up by asking if she had a conversion problem, meaning trouble converting people she presented to. Essentially, I questioned if the pitch deck was broken. Surprisingly, her answer was no. Her conversions were fine, even great.

She realized that improving the pitch deck was a minor detail and a distraction from her major project. Sometimes, when we're working on significant tasks, it's tempting to divert our attention to smaller projects that can be quickly completed. I recently spoke with a friend who admitted getting lost in creating Keynote presentations because she can see tangible results in just an hour or two.

As business owners, we often create problems where none exist. It could be because we need something to occupy ourselves or because it sounds like a good idea. But we should base our decisions on data and focus our energy where it matters most. In the case of the pitch deck, the priority wasn't making it visually appealing. The real issue was getting it in front of more people.

Encouragement

So, here's my quick encouragement for you this week: Take a moment to ask yourself if you're solving real problems or inventing unnecessary ones. Are you creating challenges in your business just to keep busy or check items off your to-do list? Let's make sure we focus on solving the problems that truly need attention and identify the bottlenecks that have the most significant impact.

Think of it like prioritizing tasks in your house. There may be numerous issues, such as a leaking shower seal or a faulty patio door lock, but you need to address the ones that have the greatest impact on your family. The same principle applies to your business. Make sure you're tackling problems that genuinely need solving and prioritize them alongside everything else.

Accountability

After having this conversation in my mastermind, I realized it's a recurring issue that I'm guilty of as well. So, if we're ever discussing a new project or update, please feel free to ask me what problem I'm solving and whether it's the top priority in my business. And I encourage you to do the same. Let's keep each other on track!