Don't Self-Sabotage Your Business: Create Cost-Effective Outlets to Experiment Within Your Own Business

As founders, many of us experience a disconnect around the 5-year mark. I’ve been there. In this week’s newsletter, I will explore how to reignite that passion by creating cost-effective intrapreneurial outlets within our businesses. This will ensure that we get to stay engaged and innovative without breaking the bank.

Here is what we’ll cover this week:

1. Don't Self-Sabotage Your Business: Create Cost-Effective Outlets to Experiment Within Your Own Business
2. Sales Engagement Tools Killed Sales: What's Next?
3. The Future Death of the $ 75,000-a-Year Social Media Manager

Don't Self-Sabotage Your Business: Create Cost-Effective Outlets to Experiment

I want to share something that many of us experience but rarely talk about—the 5-year itch.?

After pouring 5 years into your business, you might find yourself feeling disconnected and anxious, wondering if it’s time to move on. I've been there myself, and it’s a tough spot.

One effective way to combat this is by creating intrapreneurial outlets within your own company. Think about starting a podcast, launching a new video series, or trying out fresh marketing channels.

These projects can reignite your passion and bring back the excitement you felt when you first started.

And here’s the good news: you don’t have to break the bank. Leveraging offshore sales support and marketing support can make these experiments affordable—just $1,000 to $2,000 a month. This way, you can test new ideas without risking your core business.

So, instead of feeling stuck or disenfranchised, turn the 5-year mark into a new beginning. Founders, use this opportunity to innovate and grow.?

Remember, it’s not about abandoning your business, but about finding new ways to love it.?

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Sales Engagement Tools Killed Sales: What's Next?

I recently stumbled upon an article by Adam Robinson, it’s a real eye-opener.

Sales tools. They used to be our secret weapon, but now they’re falling flat. Contact rates have dropped from 15% to a measly 3-4%. Email open rates have been cut in half, and response rates are a fraction of what they used to be. The culprit? Over-automation.

Tools like SalesLoft and Outreach have flooded the market, and now everyone’s inbox is drowning in automated emails. Customers can tell when a message is canned, and spam filters are getting better at catching them too. The personal touch is getting lost.

What’s the solution? Cut costs and boost effectiveness by using offshore resources. Instead of having your high-paid team manage emails, let specialized offshore teams handle it. They can manage email systems for multiple sellers at a fraction of the cost, ensuring your messages still feel personal and engaging.

By spreading these costs, you can turn diminishing returns into a profitable strategy. Even with lower response rates, the reduced expenses make it worthwhile. Keep your sales engagement tools effective without draining your budget.

The Future Death of the $75,000-a-Year Social Media Manager

Last night, I was on LinkedIn, curious about the going rate for social media managers in Toronto. What I found was staggering – the average salary is around $75,000 a year. This got me thinking about the future death of this high-cost role.

A social media manager's job includes organizing content, creating captions, posting, and engaging with customers.?

However, companies worldwide are already outsourcing this role for one-fifth of the cost, including content creation, copywriting, posting, and engagement.

Consider this: at $75,000 a year, a company needs to generate $375,000 in revenue just to cover this one role if they aim for a 20% profit margin. On the other hand, outsourcing for $12,000 a year means needing only $60,000 in revenue for the same profitability. That’s a huge difference!

Many companies default to hiring locally without considering the financial impact. But outsourcing can provide the same, if not better, quality of work at a fraction of the cost.?

It’s about being smart with our resources. We’ve seen companies thrive by outsourcing their social media management.?

They get high-quality content, consistent posting, and active customer engagement without breaking the bank. It’s time to rethink our approach to these roles and embrace more cost-effective solutions.

So, let’s bid farewell to the $75,000 social media manager and welcome a more efficient, outsourced approach. It’s not just the future; it’s the smart way forward.?

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