As business owners, you face decisions every day. There are no small decisions because every single choice that you make affects more than just yourself. You have to think about the people you are responsible for continually. The uncertainty you face could lead to what Forbes called decision-paralysis — the complete lack of ability to decide.
The current business climate brought on by COVID-19 has plunged a lot of companies into the red, and many business owners are making tough decisions every day to stay afloat. This situation brings me back to 2012 when I started my events company.
Back then, I started the business as a sport and social club. I had a big dream to bring what I saw and loved in Canada and the USA to Singapore, and I burnt $140K on digital marketing and PR in my first 4 months trying to make it happen. By month 5, I only had enough cash in the bank for one month’s rent and payroll, I was faced with a decision. Should I keep going forward in the direction I initially set out to go, or pivot? I decided to pivot to offer team building services.
That was when I started reading extensively on LinkedIn, and how best to maximize the resource. I always had a reasonably active profile, with significant network size, yet I was not leveraging my connections. I started to take my LinkedIn branding more seriously and carved out a plan on how to turn my business around on LinkedIn.
I got my first inquiry within days and closed them within the week. In the next 8 months, we made over $350K in revenue. We were doing $1.2M by year 2, and over $2m in the third year. From a failing business, LinkedIn helped put my company in front of the right audience, allowing me to reach out to the target market effectively.
As with any social media, the key lies in navigating through all the noise to get your message heard, loud and clear. It was not a comfortable journey, but I am glad I went through it because the rewards are immense. I am sure a lot of you do not realize you are sitting on a goldmine with LinkedIn, as I didn’t know back then.
Don’t be afraid to act. You waste too much time every day, wondering if a decision is going to be right. As Adam Grant put it: Make your decision right. Rather than worrying about outcomes that you cannot possibly control, make a decision, and spend every waking moment ensuring that your choice is the right one. Hustle, and it will happen.