In the summer of 2015, I spent “a ridiculous amount” of money (according to some people) on consulting services for my business. Specifically, I’d shared on Facebook that I was going to be attending seven days of seminars, for which I’d paid $52,000. Some group members wanted to know why. I have three great reasons.
1. It’s Literally an Investment
When you started doing affiliate marketing, you had to spend some money on a book or course or membership (or perhaps all three) to learn how to do it. When you applied the information you got, it enabled you to earn some money. It was an information investment.
That kind of investment can take you far, but it won’t likely take you into the six- or seven-figure ranges. To find out how to do that, you will need to invest in more information—seminars or consulting—that you can only get from people who have created businesses that make six and seven (or more) figures.
And then, when you’re in the seven-figure revenue range and want to continue to grow, you may have to get more consulting from people who’ve built high seven-, eight-, or nine-figure businesses.
So, if your business makes a million dollars a year and you can’t seem to exceed that, you may want to find a consultant who can teach you how. Let’s say that for $50,000, they can show you three things that will enable you to increase your revenue by 20 percent. That’s $200,000. Spending $50,000 to make $200,000 sounds like a good investment to me.
2. Valuable Networking Opportunities
I attended a seminar in late 2012 in San Diego. It was when MOBE was really starting to grow. It was a small audience of people like me—entrepreneurs who were making more than $100,000 a year.
There was one person there whose face I’d seen online, so I took a seat next to him and struck up a conversation. His name was John Chow. He was an affiliate marketer who had made several information products into #1 sellers on ClickBank.
We exchanged contact information.
During that period, I’d begun a contest, offering $10,000 to the MOBE affiliate who could sell the most copies of my book. I discovered that with only a week to go, my affiliates had only sold enough copies to break even on the $10,000. I called John and asked if he’d like to make $10,000. Long story short, he promoted the book to his list and outsold the next-highest affiliate by a very wide margin and MOBE made a decent profit as well.
He’s since become one of MOBE’s top consultants.
You never know whom you’re going to meet, where it might lead, or what kind of return on investment it might result in. So go. Talk to people. Make contacts.
3. Change of Scenery
In his influential business book, The 7 Habits of Highly Effective People, author Stephen R. Covey talked about the need for people to “sharpen the saw.” That was his way of saying that to maintain your energy and enthusiasm and be able to do your best work, you must balance work with activities that renew you mentally, physically, and socially.
Think about sitting on the same chair, at the same desk, in the same location, staring at the same screen day after day. Do you think it would make you feel energized or dull?
Attending a seminar or conference gets you out of the same old routine. It puts you in the company of new people to talk to. You get to hear new ideas. You have a far better chance of being inspired and discovering new ways to do what you do better and more efficiently.
“I could just go outside and take a walk to get away from my workspace,” you say. That’s true, but what usually happens is we stay at our desks, compulsively dragging our dull saw against an unrelenting tree trunk. But if you pay for a seminar, you will get up, go out, and attend it. And you’ll be glad you did.
Regardless of cost, never invest your money in consulting or seminars (or even books or courses) from people who have never done what they say they can teach you to do. Do your due diligence and verify that they’ve made $1 million a year online or built a Fortune 500 business or whatever it is they claim to be able to teach.