Saturday, June 30, 2007

What's your currency?

Not the yen.
Not the dollar.
Not the deutschemark.

Today we’re talking about the metaphorical form of currency.

Consider two facts:

1. Currency is the transmitting of something, especially money from person to person.
2. Currency is just another word for “return.”

THEREFORE: You need to know ahead of time, prior to engaging in any new project, marketing effort or activity, “What’s my currency?”

In other words, “Why the heck am I doing this?”

Because if you don’t...

You won’t know when you’ve succeeded.
You won’t know what to keep, stop or start in the future.
You won’t know the lowest common denominator of your actions.

SO, ASK YOURSELF: “What would have to happen to make me feel like I’ve achieved a Return on Investment from this new endeavor?”

Take online social networking, for example.

Too many companies and businesspeople hesitate to get involved with this trend because they think it’s a fad. That it will just fade away like mini-discs, pogs and Ricky Martin.

BIG mistake.

Online social networking ain’t goin’ nowhere! It’s the future of the Internet, the future of the world!

And the reasons (excuses) people give for not getting involved in social networking are:

1. They don’t have the time.
2. They don’t see the payoff, aka, currency.

Well, remember this:

You WILL have the time...

...when-you-first-understand-your-currency!!

For online social networking, potential currency could be:

o Expanding your network
o Driving traffic
o Filtering in new leads
o Developing, storing content
o Branding and marketing
o Making money
o Projecting transparency
o Building community

Here's an example.

I never thought blogging was worth it. For about a year, I didn't see any return, any "currency" from my daily posting.

Then, on August 31st, 2005, I wrote a post that would lead to over $100,000 of new business.

If that happened to you, would YOU make time to blog every morning?

You bet.

So whether it’s online social networking, initiating a new marketing plan, attending a conference or deciding to publish a book, understand this:

It might take six to twelve months before you actually see your currency come to fruition. Heck, that’s the “I” in Return on Investment!

So, be honest with yourself and your business. Find out if you’re willing to pay the price.

LET ME ASK YA THIS...
What’s your currency?

LET ME SUGGEST THIS...
Share your best currency success story here!

* * * *
Scott Ginsberg
That Guy with the Nametag
www.hellomynameisscott.com

Are you the luckiest person you know?

Watch Scott's interview on 20/20!

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