Wednesday Updates

Things we're thinking about this week:

Endurance and patience. What does it take to be successful - at what point do you actually hit it? What does it mean to experiment - what's the difference between testing for 3 months vs the intention to test something for 3 years? How do you keep going, knowing that success isn't going to happen in the next month or even year?

Things rarely go as planned, and when starting a new project they rarely happen instantaneously. We're influenced by the success stories and warned about the idea of overnight success and we often think that we're the exception to the rule. Creativity and success take time, and it can be an awfully lonely process.

If you're not willing to push, push and push some more (often for years), do you really have what it takes to be a successful entrepreneur? If you're constantly distracted and looking to jump on the latest bandwagon (crypto anyone?), will you ever really make it? If you're don't have the necesary stamina and passion to keep going, I'm afraid the startup route isn't really for you.

It can't get harder, can it?

Photo by  Filippo Ruffini  on  Unsplash

Last week was probably the hardest week I've had to deal with - two different deals I've been working on for months, one fell through completely and the other is, ideally (ONLY), delayed until August/September. All the effort seemingly down the drain.

There are incredible ups and downs when starting your own business, even more so when you're in a competitive space (digital marketing). While you know that you're offering a much stronger product (and more affordable too), it's hard to stand out and sell no matter how good you are at it.

Time and time again I have to deal with the same issues, answering the same questions - influences? Social media management? Ad buying? Everyone thinks they know what they're doing, but they really don't. We're all just skimming the surface of potential. 

But it gets better, I'm sure it does.

Despite all the negativity, there are many glimpses of opportunity. Chances to partner with other entrepreneurs and many other little victories along the way. It seems tough (and it most certainly is), but you're never really going at it alone (if you have a good support network, which I highly recommend).

In a blink of an eye, things can change. Keep at it.

Wednesday Updates

Things we're thinking about this week.

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Shallow vs Deep Thinking. When something is free, it usually isn't. There's no such thing as free, somebody is always getting something in return - maybe not in a traditional way, but in a way that helps them (charity, in particular, has non-obvious benefits).

On the other hand, things that are paid (or expensive) have a concrete reason for being that way - they're selling you a story. The difference between a free consultation and a $500 consultation, even if they're identical, is that you perceive more value out of it (why else would they be charging for something that is typically free?).

Looking at price is a fun way of figuring out whether a digital marketing agency is worth their fees. If an agency is charging very little for their services, does it mean that they're not experienced? Maybe they're not very good at what they do - you get what you pay for. On the other hand, if an agency charges twice as much as everyone else, they must know tactics/secrets that other agencies don't. Maybe they can get the job done in 1 month instead of 3! Unless they're delusional, there's no reason they can justify charging so much. In these cases there are other differences of course, but the perception is very different.

The key, in this case, is figuring out whether marketing agencies can tell stories - if they can't, then they're unlikely able to do so for your brand either.

You can do better than THAT in interviews

Photo by  Sam McGhee  on  Unsplash

Photo by Sam McGhee on Unsplash

When interviewers are lazy (and this happens a lot), they ask basic, simple questions. When this happens, the answers they get are usually straightforward, standard and worse of all provide no new information.

If you ask a digital marketer if they know SEO, the obvious answer is 'YES' - because why would they say 'NO'? However, with the 'YES', as the interviewer, you really don't get a lot of information. A better question would be 'How would you take on SEO if you were given 3 months?' With a question like this, there's no hiding that you don't know anything about SEO.

The key is to realise that if you can guess the answer to the question, it's not a very good question (it's a terrible question). Instead, you need to ask questions that cause the interviewee to pause and actually think about the answer. Otherwise, you learned nothing and you might as well have asked the same questions to a random stranger.

Read more on Medium here.

Finding our own niche

Photo by  Simon Migaj  on  Unsplash

Photo by Simon Migaj on Unsplash

It's been quite the journey for FU&G so far. We've ventured from content creation to digital strategy, and it looks like we're going to branch out again.

Hiring in the digital marketing space is incredibly tough - there isn't a lot of talent out there (espeically here in Hong Kong), and if you're not familiar with the space, how do you know who to hire? What questions are you supposed to ask them? And what do the right or wrong responses sound like?

We've been approached to help with the hiring because 1) it's tough and 2) companies don't even know what to do once these people are hired. You could, of course, leave them on their own and hope for the best, but luck isn't the best strategy.

Read the whole article here on how this came to be.

Lessons from the rich and famous

Success.jpg

When it comes to comparing yourself with the pinnacles of success, it's easy to become demoralised. Will you ever make it?

Instead, it's better to understand where you currently are, and figure out what success actually means? If you're not going to become a success overnight (and that never happens), what do you need to do to put you in position to become successful over time?

Read more here.