Last month I celebrated being in business for 30 years.
Here is lesson 5 of the 10 biggest lessons I’ve learned from being in business for 30 years.
Click the button in the middle of the video above to watch.
Please leave me a comment below and let me know what you think.
Transcribe of “Lessons from being in business for 30 years – Lesson 5”
– Hi guys, Neil Waterhouse. Today I’m going to share with you my number five lessons I’ve learned from being in business for over 30 years. Okay, this lesson is called the double-down strategy. In other words, find what works, and double down on it. And at first, this lesson can seem so obvious, but when you look around, you find most people don’t do it. Most people focus on the next shiny new object.
Example of Double-down
A big example of this is people with small hobby size businesses, eBay, Amazon, Shopify businesses, most people with these businesses, or these small businesses, don’t realize that all they’ve got to do is double down, double down again, then double down again, and all of a sudden they’ve got a six or seven digit business.
That’s all we’ve done. You know, the first part I ever sold on eBay was a rusty old socket set. You know, that product sold, and I sold another one, and then another one, and then I imported my first container. Oh, sorry, not my first container, my first item from China, then I imported a second item, and then once my first container, the second container, etcetra. It’s the same with drop shipping, I sold my first drop ship item, so I listed more.
The great thing with the double-down strategy
The great thing with the down down strategy on eBay or Amazon is, you know, success comes from selling your very first item, just selling one item. Once you’ve sold just one item, you’re halfway home.
All you need to do is double down, double down, and double down again
All you need to do is double down, double down, and double down again. Sure, you know, of course there’s going to be some growing pains, as with every business on the planet, but we live in this amazing age today of automation where you can use low cost software, and low cost virtual assistants from one dollar per hour. That’s all for this week. Wherever you’re watching this, please scroll down and leave a comment below. Until next week, list more sell more, this is Neil Waterhouse.
This might also be interesting for you:
Top 10 lessons from being in business for 30 years – Lesson 6
Top 10 lessons from being in business 30 years – Lesson 1
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