The Cost of Not Finishing Your Product
by BobTheTeacher · Filed Under: Bob The Teacher Training · Business Building · Mindset · Product Creation · Productivity · Time Management · goal-setting
Here’s a simple truth I think you can agree with: an unfinished product you still have sitting on your computer (or in your brain) will earn you no money.
And I’m going to assume that you, like other entrepreneurs and idea generators, have too many projects in play at the same time. I’m certainly in that boat as well a lot of the times.
In fact, just this past weekend, I sent the final files to the fulfillment company for my new home study course. This is extraordinarily exciting for me because it’s allowing me to give access to my extensive marketing and product creation knowledge to people all over the world who aren’t able to get to my SIMPLE live training events.
At the same time, however, I am kicking myself because if I had just focused on this one project instead of about 6 others over the past 9 months, the course coulda/shoulda been out by July.
That means it could have been helping people earlier, and it could have been already generating high levels of revenue for my business.
About a month ago, I reminded myself of this idea that not finishing the course is both hurting my revenue, and the success of my customers whose businesses will be transformed by what they learn in the course (and take action on!). So I buckled down and focused just on that one thing.
And now it’s ready to go!
I’ve discovered that when I can cut out 95% or more of the ideas that I have and save them for later (or leave them for someone else to do) allows me to focus on a project to completion.
When I speak at internet marketing and business growth conferences and show that I’ve created over 40 online training courses, virtual workshops, and live events, people want to know my secret.
Well, this is one of them: realizing that if I don’t finish a project it will never make me any money. And the more I multi-task, the more likely projects will not be finished.
Now if you’ve been a part of my community for any length of time, you’ll know that I’m not suggesting that you wait until a project is perfect before you consider it “finished” enough to sell.
In fact, the whole philosophy behind my book Take Action! Revise Later is to move quickly in 1 project, release it in a Version 1 that is pretty good, and then revise for Version 2 based on real feedback from paying customers.
You’ll also notice that I often will create a course in an outline form and sell it before it’s been created. This allows me to give those early customers the chance to be part of the training live. This happens in the form of teleseminar classes, virtual workshops, and even my live event.
Here’s the overall point – if you’re finding yourself struggling with cash flow, paralysis analysis, information overload, etc., take 10 minutes today to take stock on all the different projects you are trying to work on at the same time (both yours and those you’re possibly helping other people with).
If you have more than 3, it’s no wonder you keep spinning your wheels!
Try to get it down to 1 at a time and you’ll see a world of difference in your results. You’ll get each project done a lot faster, and it will be more beneficial to your customers, too.
Bob Jenkins
p.s. Sometimes it’s hard to determine which 1 project is the 1 to go with. How are you dealing with that now? Can you make recommendations for others? Share with a comment below.
p.p.s. In case you’re curious, the home study course I mentioned will be released December 2; but keep an eye out for a special Black Friday limited time offer.
19 Responses to “The Cost of Not Finishing Your Product”
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| Bob Jenkins is an internet business marketing teacher, with ten years experience teaching teenagers and teachers. He is the creator of several online training courses that teach you how to get better customers and increase your profits. Specializing in social networking strategies for business and creating information products from teleseminars, Bob can help you use internet marketing tools and strategies to promote your business online. |
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Bob, you’re right – we often don’t consider the cost of not finishing something that could be generating income for us sooner versus later. Whether it’s fear, procrastination, uncertainty with how to proceed or the “shiny object syndrome,” we pay a price (literally and figuratively) when we don’t bring a project to completion. While it sounds common sense, I don’t think most people really think about it. And now that I AM thinking about it, I have to go finish something. :)
Bob,
As ever, you have nailed this topic. I would offer more, less tangible, “costs” to not finishing projects: mental pressure, sense of failure, diminished self-worth, all of which lead to discouragement and a depression-related attitude of “why should I bother?” I know whereof I speak, believe me. I’m the poster child for that, in fact.
There is no doubt that your point about generating income sooner is an important one, but if money were the only motivator, we’d all be rich. I liked your other point about the cost of depriving our customers of the information and products they need. It takes us out of thinking it’s all about us and instead, reminding us that it’s all about them.
Very cool.
Thanks, Bob!
Deb
Hi! Bob, this is like you are reading my mind. I always struggle to get at one project at the time, cut some unnecessary clutter, but I am not good enough on doing this, so… I am straggling and I know that it is only my fault… which is painful.
Thanks
Michey
Bob -
You are dead on! I am guilty as charged! I need to focus on the First Things First. I have a few different projects that I am currently working on. I need to stop 2 of them and focus completely on the first one. Once that is complete, move on to #2.
Thanks for the advice!
Be Well.
Paul.
http://www.AllAboutGratitude.com
Hey Bob.
A post after my own heart. This struggle is the story of my life and I’ve even created a blog for creative multi-taskers like us:
http://www.DaVinciDilemma.com The book of the same name has been dragging on for a while, because of just what you mention! I am determined to get it out early next year, but it could have been out a year ago were it not for my multiple projects, including two inventions, a bunch of information product ideas, a DVD production, a screenplay, and I could go on and on! It motivates me to read what you wrote about the people I could have helped by now had I finished it sooner.
For those of you multi-talented creative souls who distract yourself with your own brilliance –a state I call “The DaVinci Dilemma(TM) — and would like to make 2011 the year you finally focus and enjoy your gifts more while getting more done, you can download a super tool for FREE. It was developed by my co-author on the DaVinci Dilemma book, Liisa Kyle, Ph.D, & it’s called “Making the most of Your Multiple Talents in 2011.” Just go to http://www.2011talents.com and you’ll get this terrific workbook.
Thanks, Bob, for letting us know you are a recovering multi-tasker too!
:-)
Lisa
Ugh! with a smirk and smile. I am happy when I am creating and frustrated when I am sitting with 4 or 5 ideas partially completed or not begun. Okay what next: tele-seminar, book, talk, more articles, website changes, products to sell? I am going to pick one and put the others aside for now. Suggestions? thanks, bud
I thought you wrote this personally for me Bob! This is just too true, but how do you find time in your day when everyone else is consuming every waking second? When you are a people pleaser personality type it is nearly impossible to say “no” so that you can work on the things that will take you one step closer to your dreams.
It is so difficult but today I give myself permission to say “no” the next hour is mine alone.
The hard part will be repeating this tomorrow – so that I can actually complete the projects that are left to be done.
Thanks for the nudge Bob – I needed it.
Kay Kinder
http://www.FrancisPlumbing.com
OOOH. Guilty as charged, Bob! I know that’s partly due to having ADD, but even that is no excuse. I have gotten better at just starting things instead of sitting around trying to figure out what to do next. I do like the idea of just focusing on one project until it’s completed. What I do is figure out what I can finish the quickest and finish that and then move on to the more complex projects.
Glad to see this is finally out. Believe it or not, I thought you had it for sale for a while now! I can’t say anything. I bounce around in my projects too!
Have to get a huge client project wrapped up this week so I can spent the holidays finishing up my big project.
Great post Bob. Really love your philosophy of releasing something “good enough” and then improve it based on customer feedback. For me, trying to undertake a big project is just too overwhelming. Smaller projects suit me better… and they work well as long as I can pump out enough in short intervals.
Best wishes,
Stuart Stirling
I don’t think there’s an internet marketer alive that hasn’t gone through this process… and is possibly still struggling with it.
The first person I heard put it into words was Mike Filsaime at a World Internet Summit Conference here in Australia.
Basically what he was saying was
1. Decide on your niche… don’t go buying into the next big thing… and the next…
2. Research the niche and dig down to find a section of it that you might be able to dominate
3. FOCUS!… totally on the business/site until it’s up and running.
4. Market the *** out of it.
Good luck everyone. And thanks Bob. :) A reminder is always great.
Christine R.
Wow! Bob, I feel like have been sitting on my shoulder watching me… well, you kinda have:) Thanks for a great reminder and thanks to everyone who has commented before me, I thought I was the only one and now I see I am in great company!
Oh, yeah, Bob…
you know I love to harp on focus, and you have perfectly illustrated how not being focused is actually going to cost you (and others, perhaps) money!
Congrats on the new product getting done! I’ll be watching the buzz build…
Keith
Great post Bob! I read it as I was sitting down trying to decide which of the many projects I have going to start working on. (Of course, I wasn’t working on any of them, I was checking email, lol)
But I agree, one at a time is the only way to go. We often think that we are good at multi-tasking, but our results speak for themselves.
Peace,
Bob Crawford
Hi Bob,
What great timing to see this post (there are no coincidences in the universe, right?). I have been “working on” my website ever since you did the Discover DAP class. I have let so many things get in the way of finishing it, including fear, self-doubt, etc. This post and the comments of people before me have inspired me to just get it done, so I can share my ideas with others. Thanks, Bob, and I can’t wait to see your new home study course–congratulations on getting it done!
Best wishes,
Connie Horn
Hi Bob!
Your post found me debating on what to do next that would get me
closer to my goal:
an article on ezine? a blog post? a tweet? a facebook entry? a squidoo lens?
create backlinks? optimize previous posts? create a teleseminar? write a 7 page report? create a weekly podcast? shoot a video for the blog? exercice? go for a walk?
Pfffff…
I got myself a cup of coffee…read your post and started prioritizing my projects & tasks.
Once I send this comment I will choose the No 1 thing
I should take action on to make something happen.
I’ll get to #2 when #1 is completed.
One thing at a time..there is no other way.
Wish me luck in my prioritization process ;-)
Thanks for the direction!
Have a fun & safe trip.
PS: I heard Bob Proctor say “You cannot manage Time, you can only manage activities” ;-)
I learned this one the hard way, and it smacked me in the face. You see… I just got FIRED yesterday. (Read the story: http://www.passivejourney.com/what-to-do-when-you-lose-your-job/)
I’ve had a product that’s 95% complete, just sitting on my hard drive for several months now. Those months are precious time that could have been gaining momentum before tragedy strikes. I guess hindsight is 20/20.
Love the blog, Bob. Keep teaching.
Shawn McLaughlin
Oops — Link was awkward. I meant, http://www.passivejourney.com/what-to-do-when-you-lose-your-job/
Sorry. 404s are a personal pet peeve. :)
Well said.
Inspirational
Multi-Tasking is “out the window”
Understand the common problem and reap the rewards with only an explanation and example
Put a rudder on the boat and avoid the rocks!
Definately Inspiring!