Getting out of the business

This morning a client messaged me to tell me he's quitting marketing altogether.

He's already invested several years of effort, and a lot of money in several projects, including one we'd been working on for a couple of months.

Now he's shutting them all down, and telling his accountant to offset the losses against his next big tax bill.

That might sound like a failure to you, but in my mind it's a MASSIVE win.

In fact, it was a direction I've been subtly trying to nudge him towards, by discouraging certain things he wanted to do, and also asking him to do things he didn't really want to.

I'm confident this decision to quit and walk away from marketing is going to net him multiple millions in profit over the next few years.

The reason why is that big tax bill I mentioned a moment ago.

This client already has another business that made him millions over the past decade, and will continue to do the same.

He only added a marketing business into the mix because he wanted to diversify and add a second stream of income.

In simpler language - he was bored and wanted something new and exciting to do.

Diversification sounds fancy and exciting on paper.

And for really huge businesses it's an important defensive strategy.

For my client though, diversification took his focus away from something that was actually making money, and put it onto something that had potential to make more money.

Fortunately for him, he's seen the light, and is now doubling down on what's already working.

He's such a genuine guy, and when he told me, his #1 concern was that I'd be pissed off he was canceling the project.

Absolutely the opposite is true.

My #1 priority with anyone I work with is to get them an ROI, and I truly believe that for this client quitting marketing stuff and refocusing on his core business venture will make him the most money.

Plus, he can see that I've given him advice and support that's genuinely in his interest, and not based on my short-term gain.

So it's increased the trust between us.

With his core business still growing and having a lot more potential, I know he'll need marketing help down the road and want to work with me again.

Plus, if any of his network of other successful entrepreneurs need help, I'm confident he'll refer them to me as someone to be trusted.

Long term it's a Win | Win for both of us.

And right now, today it's an important reminder of the dangers of 'shiny object syndrome' AND the power of focus.

That's why I decided to share it with you.

Your Friend,

John Caprani