A few weeks ago, a well-known business and mindset coach listed some of her online business accomplishments.
One of these things included getting almost 100% of her business from Facebook alone.
According to the comments, her following was very happy for her. And, admittedly, many of her other accomplishments that were pretty neat: consistent 6-figure months, breaking 7-figures annually, and a bunch of others I’m forgetting.
But, this over-90%-from-one-platform business raises the reddest of red flags.
One of the most important things I learned from my mentor, Ben Settle (and, by extension, Dan Kennedy and whoever else preceded him), is that one is the most dangerous number.
One fulfillment house? They’re one economic downturn away from leaving you scrambling to fulfill orders.
One client? They’re one managerial shift or bad investment away from leaving your penniless.
One platform? Well, you’re at the behest of whatever their business plan—and technological forecast—is.
As I said yesterday, Facebook has openly announced it will soon decide for itself is “Newsfeed-worthy” and what isn’t.
And, apparently, it’s now taking orders from the government of who is and isn’t allowed an account.
Granted, if you’re not a likes-ho or a comments-shill (or a Chechen), you’ll probably be alright.
But, putting all your hallowed, precious eggs in one basket that you don’t even own is a very, very precarious position.
It’s no different than investing your entire financial future in Bitcoin.
Or, relying on the kindness of one client to pay all your bills.
Or assuming that the one social media platform is the end all be all of all mediums. (Periscope, anyone?)
One of the ways to combat this is to have a deep, undeniable knowledge of your market.
Knowing what your market wants—and giving it to them, of course—but also how they’ll behave before even they do.
And, likewise, how to diversify your business as to not rely on just one platform/vendor/partner/offer—in a way that is not only sensible but enjoyable for you to do.
How do you do this?
By knowing how to “type” your market—as well as yourself.
Knowing exactly what makes them (and you) tick—and why, so you can leverage it to your advantage.
To learn how to do type people within minutes of meeting them (and how to use it in all your relationships, both business and personal) for less than your monthly Netflix, go here: