Sometimes, as entrepreneurs, we need to face up to reality and admit that we’re not where we want to be. This is that post for me. It’s mid-April and I am definitely not where I want to be this year.
Last year, when I stated my goal of making $10,000/month online via writing and creating my own products, I felt it would be a goal that I could accomplish by the end of 2008. When 2009 rolled around, I again felt confident that I would hit the goal quickly. It’s April, I still haven’t hit it, and here’s why: I am being too much of a perfectionist.
Let’s roll back to 2008. I first had the goal of creating a pay site called HardworkingMillionaire.com. Then I decided I didn’t like that name, so I scrapped it and went back to Inspiring Innovators–a domain name I have owned for a while. My desire was to create a site where I could interview top entrepreneurs about their business, charge a small monthly fee, and have a few hundred or a few thousand members. I would do two interviews a month, publish them, have them transcribed, and people would pay something like $8-9/month for them.
I did some interviews and they turned out fantastically well. Doing the interviews was straightforward, and the monthly fee was a bargain for the content my members would be getting. With the help of Richard, my boyfriend, we built out a complete membership site at InspiringInnovators.com and sold a couple of interviews via the Warrior Forum. My interview with Tony Laidig, selling for $7 as a standalone product, sold over 120 copies!
Then I went to a women’s business networking event in San Francisco, and excitedly told them about my new business. Having just sold 120 single interviews, I felt this was a no-brainer. But none of the women seemed that excited about the project. I asked them what they wanted instead, and they said they wanted me to consult with them. That night, I ended up showing them a few Google tricks I know to rank #1, and the said they wanted me to teach them that.
My Business’s Fatal Mistake
This was where I made a fatal mistake. I ended up second-guessing my interview project, and instead tried to create a complex membership site where I would teach people how to dominate the Web. And then things spiraled from there. I hired a copywriter, Chris Haddad (who is amazing!), and worked with him. Chris said Inspiring Innovators didn’t sound like the right name for a membership site dedicated to teaching people online marketing tricks — and he was right! So I spent weeks coming up with a new name, and finally negotiated and acquired BeTheAuthority.com.
I absolutely love the name “Be The Authority”. However, this kind of site takes a significant time investment to launch! I’ve currently spent weeks working on the idea for the site, finally coming up with the following two products:
- Be The Social Media Authority, a 3-month course that teaches you how to use Twitter and Facebook for business and not just to connect with old friends.
- Be The Website Authority (working title), a 3-month course that teaches you how to rock Google and get #1 search results for relevant keywords for your business.
These are in high demand from business owners, and I have confidence I can sell them. But they also take some personal time, as part of the package is regular group webinars with me.
Hindsight is 20/20
In retrospect, I should have launched Inspiring Innovators last year and tweaked it along the way. I took my own advice and started talking to people to find out what they want, but I forgot the most critical part — I needed to launch something, and iterate it based on suggestions, not hold off on launching!
Perfectionism took a great, simple business idea and made it into a killer monster — a noose that hung around on my neck and tightened as I talked to more and more people and got more opinions. The more opinions I got, the more frustrated I became; a sure sign that I was going in the wrong direction.
The project has grown out of control. Currently, I am juggling several projects at once, instead of just creating a simple business and promoting it. Worse yet, none of those projects are getting done, and I’m watching more TV than I have in the past — another sure sign that I’m headed down the wrong path with my business.
Are You Heading Down the Wrong Path?
Here’s the scoop. You know you’re heading down the wrong path when…
- Your business doesn’t excite you. If you’d rather watch TV than work on your business, you’re in the wrong business.
- You seem to “work” for weeks at a time but don’t release a project. Something, anything, is better than nothing. Release! Ship! Get feedback…but only after you release your first iteration.
- Your business idea keeps growing, and growing… Your first iteration should be small and simple. Add features later.
I originally intended to launch Inspiring Innovators in January, 2008. It is patently ridiculous that I let this grow completely out of hand instead of getting something out there. If I have any consolation, it is that I know thousands will read this post, and hopefully it will stop a few of you from doing the same thing. Whatever you are working on — release it quickly, even if it doesn’t have everything you need. Your perfectionist instincts may cost you thousands of dollars.
My Commitment
To combat my perfectionist instinct, I WILL RELEASE INSPIRING INNOVATORS WITH ITS FIRST INTERVIEW BY THE END OF THE MONTH! That means I have two weeks (less, actually, as I will be traveling this month) to get it up and running with two interviews, a membership component, a payment system, etc. NO MORE EXCUSES!
Also, since I know there is a ton of interest in Be The Authority, I will release that quickly, too, with one 3-month system available for purchase by May 22. Why May 22? I’m speaking at UnSeminar6, and would love nothing more than to launch it there and honor Pat O’Bryan, as he took a chance on me and gave me my first Internet marketing speaking gig last year.
If there’s one thing I wish I could implant into your brain in big, flashing, red letters, it’s that perfectionism is your worst enemy when it comes to launching a business. Don’t do what I did; it will cost you more money than you will make by launching quickly and iterating.
I currently have completed interviews with marketing maven Ben Mack and blog whiz Steve Pavlina, so those will likely be my launch interviews. I’d appreciate any feedback you have on what you’d like to see on Be The Authority, or any person you would like me to interview for Inspiring Innovators.
See my previous posts about my goals.
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15. April 2009 at 1:27 pm
100% sound advice! I’ve learned this as well!
15. April 2009 at 2:20 pm
Hi Erica!
Wow. This post is right on time. I’ve gone through the same thing. Thanks for the inspiring innovation of calling to mind these things. Push stuff out the door before it’s “perfected”…
Hey, it works for Microsoft (lol)…
Carl
15. April 2009 at 2:27 pm
Yay! I kept wondering why I couldn’t find a url to inspiringinnovators to see what it was actually like…
15. April 2009 at 4:43 pm
Oh this is absolutely perfect! (Pun very intended!)
I’ve been sitting on a few projects that now languish, helpless in the morass of the mind’s back burner. I need to shove them out of the front door, warts and all!
15. April 2009 at 6:46 pm
This is a powerful post. You bring out that balance between needless changing your approach in search of perfection and detecting you’re truly on the wrong track. It is harder to distinguish these than people might first think.
15. April 2009 at 7:05 pm
I think your problem is that nobody today wants to pay for content when with just a little digging, you can get ANYTHING, and I mean ANYTHING for free on the internet. The days of paying are long gone. good luck.
15. April 2009 at 11:03 pm
Why did you write this post? I was so happy thinking i was doing a good job with my always “in development” project! Now i have to get out of my cave and face reality!
Thank you!
16. April 2009 at 1:09 am
Hi Erica,
A timely post for sure. I see a lot of us mirrored in what you wrote. I have been struggling with getting some sites I think people will find valuable launched. I’m learning to ignore the voices of the naysayers.
The other thing about great ideas is if you have several you can get pulled in different directions, diluting your efforts.
I don’t agree with Don that people won’t pay for content because they can find it for free. People don’t want to waste time searching the Internet to do that, but I do think the content must be stellar if you want a membership site that lasts.
Wishing you and all visiting this blog continued success.
16. April 2009 at 6:41 am
Don,
People will always pay for pre-fetched/pre-packaged information because it has the potential to save them time. Not everyone wants to try every search engine and sift through possibly hundreds of search results while they play the “am I using the proper keyword” game. And providing that the search engine returns the most relevant results, not everyone knows how to squeeze those search results for the best information.
As long as the membership site is relevant to their goals, it’s not so much the information that’s out there; it’s the extra thoughts and experiences that go along with that information. It’s also the “customer experience” that’s provided along with it.
People will continue to pay for membership sites because of the manufactured experience they can get only there and nowhere else.
The whole thing has to have an exciting aura of positive energy. It has to be fun. It has to give the same feeling (every time you think of it) as the prize inside the box of cereal that you used to rip open to eat on Saturday morning while watching cartoons.
The caveat is that it has to consistently do this to maintain a loyal following.
Carl
17. April 2009 at 9:04 am
Interesting post. I learned another thing from your post: talking and selling to the right targeted audience.
I think the core audience of your “hardworkingmillionaire site” is the get-rich-online crowed, people who read johnchow.com, shoemaker, etc. However, the women who attended your business woman conference in San Francisco is from a different crowed. Their needs is different from those people who paid for your interviews.
So, each of your sites has its own merit. It’s matter of which niche(s) you want to exploit.
17. April 2009 at 10:06 am
Hi,
Thank you for backing me up re: Don! I think it’s clear that people will pay for content (see the 120 people who bought a copy of one of my interviews). Of course, it helps when the content is exclusive and more in-depth than a typical blog post. I can’t tell you how many times I’ve searched for something online, ended up finding a bunch of blog posts that speak about it vaguely, then buying a book instead…because the book has more depth on the subject.
400-1500 words simply cannot convey most topics in any depth.
GeekMBA360, I agree with you, and should have realized that too. My audience for Inspiring Innovators is definitely the “I want to learn how to make money online” crowd. The already-running-a-biz folks want more content on how to run their biz effectively. That’s where Be The Authority comes in.
I am working hard on Inspiring Innovators to get it up and running by the launch!
-Erica
20. April 2009 at 6:38 am
Thanks for sharing this!! I’m not there yet, but trying to live by a new mantra: “Done is better than perfect.”
20. April 2009 at 6:52 am
A terrific read and thanks for sharing your story. I’m working diligently to break my own bad habit of over-analyzing and over-scrutinizing things in my own business – just get on with it already! I advise clients on this all the times, “The Cobbler’s Shoes” syndrome! Getting it out there actually allows you to test the market and see what it really wants, what it can bear; presumably we’ve done our homework ahead of time and have a good idea, but until it’s “released”, we don’t know for sure. Keeping the best kept secret serves no one.
Oh, and I agree with membership content: if it’s really want the audience wants, without having to wade through a bunch of ads, etc., they’ll tell you with their purchases of same.
25. April 2009 at 2:47 pm
You learned a lesson I had to learn many years ago. I wanted to start a newsletter, so I wrote the first one and sent it out to people asking for their comments. I had 10 people write back with comments on everything except the content. Two even wondered why I was going to waste my time.
I decided to do it my way anyway, for two reasons. One, I realized that every person wants to do things their way, to mold you into them, and that’s just not going to happen. And two, I had asked the wrong people. Only two of those people ended up subscribing to my newsletter, which means that, apparently, the content I was writing wasn’t for them in the first place.
Your initial idea was and is sound, but the women you approached wouldn’t have been your audience, which is sad. I’m glad you’re back on track, and now I know what’s going on, since I just wrote something on your initial post from last February.
By the way, I think it’s interesting that your anti-spam question only allows one word, as I tried to write “yes I am”.
26. April 2009 at 8:18 pm
I’m surprised, considering your past successful ventures, that you let yourself get pushed off course like that. Oh, I can see how it happens (we are always buzzing with new ideas), but you’ve always struck me as the “launch & fix” type, not the perfect before launch type.
I think the response you got back from the business women may have also been the fact that they might not be your market for InspiringInnovators. Their needs are different. For me, InspiringInnovators is something I would want to buy in on on a per-interview basis, but maybe not monthly. (I would love to see the Steve Pavlina interview.) As far as Be The Authority – that is *awesome*. I don’t care about more instruction on using Twitter & Facebook, but I would love the SEO tricks portion.
Ultimately, no matter what you do, I know you’ll come out on top. You are amazing!
27. April 2009 at 3:05 am
It’s all about “Progress Not Perfection”. Easier said then done
27. April 2009 at 3:04 pm
Busy busy busy… how many projects?
Too many. Good ideas come in floods, tsunamis. Overwhelming.
Execute right now!
Speed of Implementation — key to success!
When to quit? Caffeine poisoning. Sleeplessness. Everything you always hated working for the man… realizing you’re the worst boss you ever had!
Peter Drucker mastered the opportunity cost: ignore “closure,” an emotional weakness. Know when to walk away. Just walk away. Leave it hanging.
Ok, back to the salt mine.
-d
ps: Great post! Really resonated with me.
10. May 2009 at 11:13 am
What about “you only have one chance to do a first impression”? Do you think that’s not relevant in this case? I’m asking because I have the same perfectionism tendency but I always give myself that excuse to delay.
17. May 2009 at 9:46 pm
Hi Hertanto,
No, I don’t really think that’s the case. I mean, there may be that rare dude who says “Man, I HATED that website design 6 months ago when they first started, so I will never use it,” but there are so many more people in this world that it’s really not even worth thinking about the couple who will remember. People’s attention spans are really short. I thought I knew a lot of people when I ran my hosting company, but I bet maybe 5% or fewer of my current blog subscribers knew me then. So don’t sweat it. Just get something out there and keep making it better!
-Erica
20. May 2009 at 11:23 am
Check out 37signal’s book Getting Real. It is a collection of essays that talk about making a successful web project. Several of them convey exactly what this post is about – put something out there, even if it’s not 100%! Every project has the potential to be at 90% forever! Good luck with your new sites, I’m eager to check them out when they launch (soon!)
27. May 2009 at 2:39 pm
I’m so glad I found your site, Erica – my mind is overflowing with your good advice!
When I saw the picture for this post, I knew I had to read it: I actually have cut grass with a scissor to try to make it perfect (Did I just admit that?)
Your readers also offer excellent advice and I, too, will try to think in terms of “Progress, not perfection”, and “Done is better than perfect”. Unfortunately, my ‘version’ of perfectionism can sometimes paralyze me from even beginning a project because I know I won’t be happy with the result when finished, e.g., the inability to organize things around the house just the way I want them leaves a disorganized mess for everyone to see :-/
I think that’s exactly what would be seen if one could look inside my HEAD
Such a useful post… Thanks,
Debi
4. October 2009 at 11:11 am
nor crap nor perfect!
Hi Erica am new to your site but you already helped me so much with this post.
My Bio and story are similar to yours, i had a successful online business back in 2000 – 2003 and purchased my first home (i was about 22 and my parents couldn’t believe i actually made $ online…), i sold it (since i was young and it was eating so much of my time, energy and sadly my relationship) , retired for a while to be with my wife, my first born and finish college
I took a job about a year after and didn’t felt happy… so i realised i wanted to get back online so bad with many new ideas. Am a net geek at heart
ok, here comes your post idea!
in 2006 – 2007 i spent nearly a YEAR building and programming a website for a new local biz i had in mind, i wanted it to be perfect (i also thought i had the perfect idea…) After 12 months i got the “damned” thing out finally but to my surprise, competition had become fierced in my niche and there was little room for the new commer in this market + the crisis thingie was just starting to kick in
i felt like a failure and was depressed for a while only thinking: “if i had launched 8 months before i would had a better chance”
I realized how quick the net moves and how inexperienced i was at the “marketing thing”.
now am into a new project again and won’t make the same mistakes ! i fell off the bike but am up
am 1 month into the project and won’t let a 12 , 6 or even 4 months pass by this time. In a month or 2 i should be “ready and lauched” even if it’s not as perfect as i envisioned it (but should get there in time ^^)!!
I must also thank the Linux community (specially ubuntu) for showing me a great example that this is indeed possible like you said. Ubuntu is a software project that has become so popular even if it’s still far from perfect, but every 6 months they get better and thousands of new users.
you must already know everything about linux since you were in the server biz
Also Mark Shuttleworth the “Internet Billionaire” has been an inspiration to me. You might want to interview him some time