goodroi - 12:57 pm on Jun 8, 2013 (gmt 0)
I don't know about your specific situation or your company financials but I do know about my experiences and what I have learned from them. These are some things I try to focus on.
1) Be honest with yourself. No seriously, be honest. Too often we let our ego and personal feelings cloud our decision making.
2) Diversify, you never know when your good resource is going to fade so you better have alternatives.
3) Live and operate below your means. Skip the first class tickets & save that money for when your business needs extra work.
4) Plan for the worst case scenario and you will be better prepared for whatever reality throws at you.
5) Don't believe the hype. People are always trying to sell me some service. I need to be my own advocate who is protecting my budget.
6) Don't let social pressure push you into decisions that you can't afford. SEO conferences can cost over $5k (tickets, airfare, hotel, food, etc) but it is free to read SEO forums and blogs.
7) Test, Test and Test again. If you don't know what is wrong, you can't fix it. If you don't know what is right, you can't repeat it.
8) Monitor your own industry. I regularly monitor traffic, competition and profit levels. Horse buggy whips were once profitable, then along came cars, who know what will replace cars. Just remember that eventually all things change.
9) Don't work for today. Build for tomorrow. If you have Google's secret algo it might not help you because by the time you built the perfect site for today's algo, Google will have already updated & changed their secret formula or consumer preferences could change or government regulations or anything else. Keep your eyes looking forward.
10) Think outside of Google. Imagine if you didn't buy your own computer but borrowed your friend's laptop who any day is going to take it back without asking. You wouldn't borrow your friend's laptop because it is smarter to buy your own. Don't rely on Google traffic. Develop traffic from social sites, email newsletters, traditional media, Amazon, affiliate marketing and all the other sources.
11) Don't blindly follow. People can say and write anything. It doesn't mean it is true and even if it is it doesn't mean it will be accurate tomorrow. Think for yourself.
12) Don't settle. Your business can be improved. Your vendors can produce better and at lower costs. Your monetization can grow with higher profit margins or opening up new revenue streams. It is not easy but you can always find something to improve.
13) Be honest with yourself.