JCS 16 - Makin' hay while the sun shines

Published: Tue, 04/23/19

Breville On My Mind

This is relevant for everyone, so it's a good idea to read the whole thing.

But first, an update.

Now that I'm back at my desk, in my home office, in my actual house, I can focus once more on my newsletter and getting insights out.

You can expect an email a week - I'm aiming for two, though.

At the moment it's looking like the format for these will be:

Topical commentary
Educational insights

And, in my Facebook group (which sadly, I've left dormant) I'll be focusing on short Facebook live videos throughout the week, expanding upon these newsletters and answering any questions you might have.

Okay, so, back to this 'thing' which applies to everyone.

I've got this thought in my mind:

"Tomorrow's riches are today's reinvested spoils"

You see, however well your business is going at the moment, it's not going to be this way forever if you keep doing the same thing.

Your past actions have paved the path for today, and likewise, today's actions shall pave the path for your future.

You can go deeper than this, though, when you start considering what the 'future' will look like on a greater scale than simply tomorrow, next week, next month, or next year.

Consider what the future may look like for your industry in 5 years... 10 years.

What are the biggest threats to your business? The greatest opportunities?

Understanding this, doesn't it make sense to reinvest some of today's spoils to ensure continued riches in the future?

Take Australian kitchen appliance maker Breville, who's company is now valued at $2.3 billion.

(Breville CEO Jim Clayton)

On p.22 in the last Weekend Australian, Samantha Bailey's article "Drive for perfection helps Breville shine" exemplified this well:

"Rather than compete with Asian rivals on price, Breville's stainless steel appliances play in the premium space.

[CEO Jim] Clayton says Breville sets out to "solve" kitchen products...

Many of the "consumer problems" Breville has discovered are still waiting for technology to advance before they can be solved. And when a viable project gets off the ground, it can take three to five years to make it ...

... [they] spend tens of millions on research and development every year to come up with the next idea. And here Clayton is focused on producing a kitchen appliance that delivers the best result with ease...

... a good kitchen product should sell regardless of what is going on in the broader economy.

"It's no different than Dyson coming out with a vacuum cleaner or Apple coming out with a new iPhone. Our results are much more tied to the quality of the innovation in the products we bring to market," he says."

This is clearly a company that is forward thinking, invests in their future through today's 'spoils', and has been reaping the rewards for almost 90 years now.

Just have a look at some of these comments:

It's like the twilight zone reading so many positive comments on a news article... and I didn't even pick and choose to prove a point. Check out 4 in a row here!

(I feel like Breville should send a toaster my way for all this free press...)

And yes, I know, it's not realistic for us to invest millions in R&D, but we can look ahead at some of the broader trends of our age and consider whether there is opportunity or threat in them.

Consider automation, AI, remote working and the gig economy, blockchain, consumer activism or any of the myriad other 'things' one could use to their advantage (or cause one's ruin) and the future suddenly seems exciting.

Is there something you could take advantage of in one of these areas; something that may also protect you from a future disruption?

If so, spend some time, spend some money, spend some effort into pursuing it - right alongside the things you successfully do today.

Worst case scenario: you spent some time and money.

Best case scenario: you ensure your relevance and prosperity in the future.

It's why I'm doubling-down on content like this newsletter and making videos.

The broad trend in my industry is both in-depth "thought pieces" like this AND bite-sized "infotainment".

Ignore one and you're irrelevant to the other.

So, ask yourself what you can do to put yourself in the best position in the future. Because remember:

Tomorrow's riches are today's reinvested spoils.

Cheers,

James Steadman

Director - JC Steadman Marketing

www.jcsteadman.com

P.S. I have a private Facebook group where you can access free templates, worksheets, and training modules.

Plus, you can learn more about the things I teach and be around like-minded business owners and entrepreneurs like yourself.

Click here to join my ~~cult~~ Facebook group

Inside, you'll find:

Free video training: 'Basics of Direct Response Copywriting'
Free worksheet: '9 Essential Elements To A Direct Response Homepage'
Free worksheet: 'Competitor Analysis'
... and more!

And when you're ready, here's 3 other ways I can help:

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