Having the Courage to Say No
Hey there. Tim here.
This week, I am giving you a breakdown of all the opportunities I am forcing myself to say no to.
I hope it gives you the courage to do the same.
Sponsored
A brand new framework for thinking about today’s complex world
What's our problem? Get to the bottom of modern society with a groundbreaking new book from Tim Urban, creator of the wildly popular blog Wait But Why. Dive deep into history, evolutionary psychology, political theory, neuroscience and more as you explore an entirely new framework for understanding our complex world. Packed with original concepts, sticky metaphors, and hundreds of drawings, What's Our Problem?: A Self-Help Book for Societies is sure to change the way you see your world.
Having the Courage to Say No (Even to Good Ideas)
Last week, I wrote about how I've struggled to maintain control of my mind and my thoughts. I received a lot of feedback on the piece and I think that's because our society makes it harder and harder to stay focused and to stay emotionally engaged in the things that matter.
Clearly, I'm not the only one who has struggled with that.
Here's the problem: When you're first starting out as an entrepreneur, you should say yes to almost everything.
- go to every meeting
- experiment on new ideas (and fail as much as possible)
- take on every client because building a reputation is more important than profits
- try all the marketing ideas you can think of
But over time, it becomes more and more important to say no.
As you start to have success, you will find yourself in a position where you have a lot to lose, and your judgement becomes more important than your hustle.
This is an important moment in your journey, and it was an important moment for me.
Just this week, I had to take a good hard look at myself and recognize "good ideas" that I must say no to.
It hurts, but it's the right thing to do.
Here is a breakdown.
1. The Blank Page Stays Free
I have a secret Substack called The Blank Page. I don’t market it and I don’t promote it. I don’t tell anyone about it. It is intended to be a place for me to clear my head, write creatively, and have fun.
It’s a place for me to write for myself.
Lately, I’ve been fighting the urge to turn it into a paid product.
I've always wanted to have a paid newsletter. I love James Altucher's model and it's been a secret goal of mine to create a portfolio of paid newsletters.
I’m doing the math and if I get 3 paid subscribers a week, I could make an extra $15,000 this year alone.
The second this turns into something I need to take seriously is the second it loses its magic.
In addition, this will only take focus away from Copyblogger Academy, which is the priority.
The Blank Page is free and stays free. Final answer.
2. I Can’t Create the Media Company for Stodzy
Ethan and I had an amazing conversation on the pod where I talked about this cool tactic that agencies use to get leads and close deals.
I already use this tactic on Copyblogger, because Copyblogger serves as a media companies that drives attention and leads to Digital Commerce.
Every article includes a CTA that collects leads.
See?
I've been thinking about doing the same thing for Stodzy.
The idea is to create a website and a media company that publishes news, articles, and tips for business professionals in the behavioral healthcare space. The media company would monetize through sponsorships, the front end product could be events or lower cost services, and the back end product would be high ticket contracts.
I love the idea, but it would only take away from the time and effort I am applying to closing deals.
I don’t need to have a full blown website and separate media outlet to build a community and brand for Stodzy. I can keep it simple for now.
This one hurts because I really love the idea, but it would definitely be a distraction.
3 - I’m Not Ready to Build a Sales Team
Selling ads on the Copyblogger newsletter is such a HUGE opportunity for cash flow. I’m closing in on 100,000 subscribers and by having an ad on the Tuesday and Friday edition, I should be generating an extra $12,000 a month.
The problem is that in order to have the inventory, I need to be more active in outreach and cold calling.
I REALLY want to do this, but here are the facts.
I have a pretty good thing going with the ConvertKit Sponsorship Network. They are doing a good job getting advertisers for me. Yes, the ads do come in a bit sporadically, but that’s okay. The ad network is still in it’s beginning stages and I need to be patient and let the process take it’s course.
All the time I would spend building a sales team is time that I WOULD NOT be spending inside the Copyblogger Academy. If I take my eye off the academy, then the quality of the product would suffer. That can’t happen. The most important thing I can do is to create the absolute best product possible. My goal is $20,000 MRR by the end of the year, which means I would need about 670 paying members.
That's my goal and I need to keep my eye on the prize.
Half of Success is Avoiding Absolute Ruin
It hasn't been easy for me to learn these lessons. I still want to say yes to everything. But it's not smart.
I know at least a half dozen people who have done something big, made money, and then crashed and burned because they didn't have the ability to stay centered.
I need to be disciplined and I need to have the emotional fortitude to say no to projects, even if they excite me. ESPECIALLY if they excite me.
I have worked my entire life to be in the position I am in now, and it would be criminal for me to lose it because I didn't have the courage to focus on what matters most.
Thanks for reading. Love you guys.
Tim