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If You Can't Answer This Question, Your Business Will Suffer

Discussion in 'BlackHat Lounge' started by The Scarlet Pimp, Aug 20, 2016.

  1. The Scarlet Pimp

    The Scarlet Pimp Senior Member

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    considering the many posts on this forum about a lack of success in business, this seems apropos. if you are not achieving the success you want, this may help.

    ---

    If You Can't Answer This Question in 5 Seconds, You're in Trouble

    "What Do You Do For A Living?"

    Too many people are trying to do too much -- and it's hurting their chances of career success.

    Now more than ever, having the discipline to focus only on what you do best is critical to success. It's as true in your career and your business as it is in your communication.

    Sadly, more and more people – particularly aspiring entrepreneurs – are doing more and more. They're spreading themselves too thin, unable to answer "What do you do for a living?" in less than five seconds. And that's a recipe for disaster.

    A growing segment of the population is abandoning the corporate world and opting for the perceived freedom and flexibility of entrepreneurship -- or so they think.

    The problem is they're not focusing on creating innovative startups, but joining the growing ranks of the "gig economy" and doing a little of this and a little of that.

    The data is startling. The U.S. labor force participation rate and new business creation are both at or near their lowest level in decades. At the same time, self-employed workers have ballooned to 16% of the workforce, up from 10% a decade ago, according to research from Princeton University reported in the Wall Street Journal.

    Why is that a problem? In a word, productivity. A recent report by MBO Partners says that independent workers contribute just 7% of the nation’s GDP. In other words, self-employed workers are less than half as productive as their counterparts with full-time jobs. And that’s a real problem.

    This isn't just about Uber drivers, Airbnb renters and Etsy marketers, mind you. The self-employment trend cuts across a broad swath of industries, geographies and demographics. Those workers often make ends meet by doing multiple gigs on a part-time basis. And therein lies the rub.

    The more gigs you have, the less chance you have of developing differentiated, marketable skills and excelling in any single field.

    How many gigs is too many? More than one.

    If social media profiles are any indication, folks certainly appear to have more irons in the fire than ever before. LinkedIn profiles are starting to resemble laundry lists like this one I recently came across:

    "Entrepreneur, Philanthropist, Career Transition Coach, Business Strategist, Transformational Catalyst, Author, Speaker."

    ( https://www.entrepreneur.com/article/251110 )

    Look, there's a very good reason why athletes focus only on one position in one sport. That's what it takes to make it in a competitive world. Olympians may take the gold in multiple events, but always in the same category.

    Granted, it makes sense to cast a wider net when they're young, but the sooner they focus, the better.

    Apple has long touted focus and discipline as key to its breakout success. Both Steve Jobs and Tim Cook have talked about the importance of doing only what the company does best and saying no to everything else.

    That's why Apple can afford to control every aspect of its iconic products, from conceptual design to the customer experience.

    Google is a different story. In the early days, its 10-point philosophy included, "It's best to do one thing really, really well."

    But when Eric Schmidt stepped down as CEO in 2011, the company unleashed a dizzying array of moonshots, from the infamous self-driving car and Google Glass to Wi-Fi balloons and the Calico anti-aging project.

    For four long years, the search giant's once high-flying stock barely kept pace with the Nasdaq.

    Since hiring Morgan Stanley CFO Ruth Porat, it's like night and day. The search giant reorganized as Alphabet to increase visibility of its non-Google operations – projects it now calls "other bets."

    That provided some much-needed fiscal discipline and accountability, and shares of Alphabet have responded, rising 45% in just 15 months.

    Every venture capitalist and startup founder will tell you the key to entrepreneurial success is focus and discipline. The same is true of your career.

    The sooner you figure out what to focus on doing and quit screwing around with everything else, the better.

    http://fortune.com/2016/08/19/focus-discipline/
     
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  2. Anonymously

    Anonymously Jr. VIP Jr. VIP

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    I can't answer this question in 5 seconds because most numbskulls don't have a technological vocabulary. But cool theory bro. Perhaps it's better to ask how much money you have? It's a clearer indication of how well their business is doing.
     
  3. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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    Here's another question most people can't answer: Who is your target consumer?

    You know what irritates me? When I ask a client that question and they say "everybody".
     
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  4. cnick79

    cnick79 Jr. VIP Jr. VIP

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    How much money one has it not a clear indication of how well ones business is doing. What amount of money determines success?

    I like what the OP is saying and it is so true. I remember ranking websites early on and having success until I was hit by a Google update. I asked myself that same question. I said, "I'm an application developer, what am I doing trying to rank websites for keywords I don't care about?"

    Also, Bill Gates and Warren Buffet were both asked separately what is the key to success and they both said focus. So true.
     
  5. NicholasVegas

    NicholasVegas Regular Member

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  6. The Scarlet Pimp

    The Scarlet Pimp Senior Member

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    :D :D :D
     
  7. Tunenchi

    Tunenchi Regular Member

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    OP you are right, sometimes we go an extra mile trying new marketing techniques. Then I end up doing so much that I leave someone with a headache trying to explain to them about being an Amazon affiliate. The question is simple, it should be simple.

    Money made is a clear indication things work, however you can't count money you got because you can add.
     
  8. The Scarlet Pimp

    The Scarlet Pimp Senior Member

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    [​IMG]
     
  9. elavmunretea

    elavmunretea Elite Member

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    Tell me what explain means without using the word itself.
     
  10. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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    To provide more information than what was already given.

    Now tell me what "the" means without using "To". :p
     
  11. Honest

    Honest Regular Member

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  12. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    That depends on what your definition of is is.
     
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  13. onelettershor

    onelettershor Supreme Member

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    I can't answer that question, as I'm still in school. I don't earn enough to make a "living"
     
  14. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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    I thought about this in the shower. Here is my response:
    An auxillary verb preceding a noun or an explanation.
     
  15. elavmunretea

    elavmunretea Elite Member

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    A word commonly used as a reference towards things or people that are common in daily life.

    Closest I could get :D
     
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  16. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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    Hey, you know what,we could turn this into a game in a separate thread. I'll think of the rules for it later. :)
     
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  17. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    Tell that to Bill.
     
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  18. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    @BassTrackerBoats 's line was a quote from Bill Clinton's testimony during the Lewinsky scandal era, not an actual question for you. ;)

     
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  19. tompots

    tompots Elite Member Premium Member

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  20. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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    "If the—if he—if 'is' means is and never has been, that is not—that is one thing. If it means there is none, that was a completely true statement"


    Admittedly, history (except WW2) and politics are not my strong points, and while I knew that one, answering the question was more fun. ;)
     
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