Starting with an example, ‘anyone can create content on sites like Facebook, but that content effectively belongs to Facebook. The more content we create for free, the more valuable Facebook becomes. We do the work, they reap the profit.’
Of course not. Facebook, Google, LinkedIn, Twitter, and many more sites are all superb tools to add to our marketingÂ mix.
The secret is to spend most of your time and creative energy building assets that you control.
There are three assets you should be building today, and should continue to focus on for the lifetime of your business:
- AÂ well-designed websiteÂ or blog populated with lots of valuable content
- An opt-in email list, ideally with a high-qualityÂ autoresponder
- A reputation for providing impeccable value
These things are the equivalent of buying your building instead of renting it.
Now any of these can fall prey to outside influences. The bookstoreâ€™s building can burn down. And your site can be hacked, your email account closed down, your reputation smeared.
But repairing your assets is in your control. You can fix the hacked code, export your email list to another provider, and respond effectively to manage your reputation.
More important, you can proactively protect those assets by taking website security seriously, avoiding any spammy or dodgy practices with your email, and cultivating a loyal audience who will vouch for you as being one of the good guys.
Youâ€™ve put a lot of time and effort into your business â€” donâ€™t put it all at risk by building on rented land.
How about you â€” do you feel confident that youâ€™re developing your own online assets? Howâ€™s the balance between assets you control and third-party sites like Facebook or Twitter?