No Use Fishing In A Smelly Pond

No Use Fishing In A Smelly Pond

1333114443_63453452345At a recent (last week in fact) closed door one day event attended by 12 or so ‘Shakers and Movers’ who pay me $18K each for the privilege, one member made a damning omission. You see, when you sign up to attend “Think Tank” which it is affectionately known as, you agree to keep everything that is said behind closed doors…behind closed doors.

 

So I did seek out the permission of the person concerned to share what I’m about to share with you. I believe you will find it VERY instructive

So what was the DAMNING OMISSION?

The damning omission was that in spite of him applying everything he had learnt over the last 12 months to his existing business, the results were nowhere near as good as should be expected.

Understand it was no easy task for this “Think Tank” member to admit to this high powered group of individuals that things were not as “Rosie” as they could be.  But hey if you can’t tell it as it is here and ask for help, what chance anywhere else?

He has also heard me say that “most business problems have a marketing solution” and some were offered however, my response may not be the one that was expected.

My response was, after examining everything he had to present on the subject that “he was trying to build a better fishing rod (Marketing) to fish (Clients) in a smelly pond”. You see it doesn’t matter how good your fishing rod (Marketing) is you won’t catch any fish (Clients) because fish can’t live in a stagnant smelly pond.

Another way I express this is that no one likes being told “their baby is ugly”. Their baby in this instant is “their Business” and the smelly pond is “their Business” also.

You see if you do the marketing stuff to the level of competency we do and this guy does, I am a firm believer in using the “Principle of the Swift Sword”. That is, stop putting all your time, energy and money into it and cut it free, and apply your talents and resources elsewhere.

Instead of stubbornly trying to prove you can “make it” work. I believe that choice of “Wealth Creation Vehicle” is at least 80% of your success. SO it makes perfect sense to get into the right vehicle as soon as possible.

Strangely for every reason imaginable this guy would appear to be in the right vehicle however in spite of his best efforts the results were still disappointing.

You see it doesn’t matter what we think as business owners, in the end it’s the market place that is the judge and the executioner. And frankly with this guys talents I felt it was better he applied them elsewhere.

Now a lot of people come to me with “ugly babies” and quiet honestly it doesn’t always go down too well when I give them my perspective based on many years of extensive experience.

Some even become aggravated.  Some ignore this wise counsel and stubbornly throw more time, money and energy into “building a better fishing rod’’ even though the pond stinks.

My advice is not to let your biased and opinions keep you away from a pile of money. Instead listen to what the market says because it never lies.

Sometime it just doesn’t matter how good your “fishing rod” (marketing) is. Sometime that “baby” you invested so much of yourself into is not going to succeed in spite of your best efforts. It’s just plain ugly.

Hats off to my “Think Tank” member who had the courage to be honest with us and himself. It’s a trait well worth mimicking.

All the best,

Mal Emery
Committed to Elevating the Financial Wealth and Wellbeing of Society
Through Entrepreneurial Excellence and Guilty of Conspiracy to Create Capitalism

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  1. Enjoyed the analygies and the story, and wholeheartedly agree, especially the ugly baby bit. A timely message for some, methinks.
    Cheers

  2. Of course we all have goggles on and think our baby is the most beautiful one in the world – none of us like to think our baby is ugly. But, as hard as it is to accept, we really do have to face reality when it comes to business. Thanks for the advice, Mal….

  3. Hi Mal,

    Great post.

    It would be great to learn what the smelly ponds are v the rosy ponds. I think many entrepreneurs would save a lot of time having access to this information sooner. Where do we learn this? Thanks

  4. Congratulations to the Think Tanker concerned – doing all the work and not getting the results suck

    ..but..and this is the big but…

    now that you have all the skills and have had a practice run…imagine what your next venture will reap!

    Looking forward to hearing and hopefully seeing the results.

  5. Couldn’t agree more Mal. I check out my clients first so they hopefully don’t have an ugly baby but it’s not always easy to see at the outset. Still loving your stuff.

  6. Mel, Its only when you have brass balls can you stand up and change the vehicle you are in, in a matter of fact I am about to do it.

  7. Hi all,

    Well I have a good product that I am about to invest good money into the marketing.I won’t go into our financial position but let me say the money being spent is borrowed.All I have been advised so far are traditional areas. I am an inventor, thinking outside my comfort zone, the norm isn’t normal to me, but i carn’t think of another place to really get the product OUT THERE!

    The product is on our web site if you are inclined that way to help.
    Hope you can

    Cheers
    Pat

  8. Good one Mal,

    It is often difficult to know when to cut a project loose. The amount of work required to get a system up and running means you can spend a lot of time before you really know if your idea will work.

    I guess the good thing is that we normally learn somethng and progress from everything we do. Better t6o take action and fail than do nothing like most people!

  9. I’ve only recently started listening to your rants and buying your products. Apart from learning so much from someone who is candid (putting it mildly), you crack me up!

    Love your humour and delivery. Makes it a lot smaller pill to swallow when required sometimes. I wish your courageous client all the best in hopefully a new idea. Regards
    Brigitte

  10. Thank you again for the experience and prospective you bring to the table. It is always wonderful to know that you have backed the right horse and invested in the right geloppy with business growth.

  11. G’day ol mate Mal,

    So mate ,Its just Not easy being green

    To read over your story , made me feel for your bloke the Think Tank fella & well mate just where would his wiser area / neiche be in ?

    To merge into,or as you expressed, he is better off to be placing his time and energy else where ?

    So where to ? ,and how does this ‘bloke grasp this from being in your inner circle status ,to dropping out by the way side ?

    You see ‘you have had the ugly duckling’ syndrome
    come ‘your way before mate’ with all your experiences & well, where the signs are ‘stagnent’ & present , with his ‘market place’ and being surrounded by what could be said as just this DOG UGLY MUTT model that seems to be stacked against all odds,from its birth or as you state since a BABY.

    Yeah mate , nobody likes to see their baby as ugly, even if its lumpy head is begger than texas.

    Then Mal ol mate ,without being ‘stupid’ I enquire here-in or excuse the word even (retarded )-( parden the pun no disrespect to anybody’ ),if your Think tank member kept soldiering-on.

    Perhaps within his perssistance, then your subject who is obviously ‘use to adversity’ may infact ‘finally break ground and come to GROW UP into a MAJESTIC SOUND SOLID HOUND ? ,un-interested in chasing parked cars perhaps ?

    Now as you mentioned he was against the ‘ODDS’and a wise man once Quoted ,-

    -Even The Deepest Pond stagnates without Action,-Buddha:

    You Mal do advocate ‘MASSIVE ACTION’ if I am correct here.

    So Mal ol Mate ,you being a leader among GIANTS knows only too well of the power of applied ACTION.

    I almost feel your wisdom about your Think Tank member and his adversities & because YOU are such a wise respected marketer & bloke mate ,perhaps YOU have a point ?

    My feelings leads me to state that your Think Tank Bloke may just have to change the playing field again & re-group his business model.

    My assesments of all your wisdom & your blokes new directions lead me to two words.

    THINK & GROWN LESS !

    Nice ‘reading you again mate’.

    Stay healthy & thanks for your energy ol mate.

    You do choose wise, Mate-eyes !

    All the best .

    Kind regards .

    Mr.Mate-eyes.

  12. Hello Mal Emery 🙂 Yes, that is very true what you said. In a book by Felix Dennis (Britains richest self made multimillioaire), he says: If at first you don’t succeed, try try again. And then quit. There’s no use being a damb fool about it

    🙂

  13. Pat – commentor above,
    Regarding your comment about spending money on traditional marketing to promote your product…I would very much advise that you speak to Mal or one of his advisors before you do so.
    At Moon Haven we have a range of great products…but failed miserably and expensively (we’re talking many thousands of dollas here) with traditional marketing… it wasn’t until we started marketing ‘Mal’s rebellious way’ did the penny drop and our efforts bore spectacular fruit.

  14. My husband has a $7M turnover wholesale produce business. The gross profit margin is 10-11%. Net is 1-2%, after his salary. He’s not happy with it, wants to sell it but I’ve been telling him to keep it and get it more profitable. He says the marketing stuff doesn’t work on retailers (his customers).

    Would this be a smelly pond?

    Best wishes,
    Meileen
    (one of your customers from TGR 2007, who still hasn’t done the 2 day event included in the package she got)

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