Rich Business, Poor Business?

There’s a book called Rich Dad, Poor Dad that has probably done more to change my thinking about money than any other book.

The premise is pretty simple: instead of buying liabilities (TVs, clothes, cars) you should instead spend your money on assets – things that make you money over time. This includes stocks, bonds, businesses, real estate, etc.

It makes tons of sense. Rather than having your money disappear into things that will one day end up at Goodwill, you instead focus on things that make you more money. Fairly simple.

Now, if you expect me to say that you should invest money in marketing, you’re right.

But you shouldn’t just invest in any marketing.

Within your business, there are things that will be valuable for a moment and things that will be valuable for the long haul.

Paid ads are valuable at the moment. Ideally, you make more than you spend, so they are still a good investment. But the moment you stop paying for them, the value disappears.

Instagram and Twitter are the same way. When you stop posting, the value disappears.

There are other types of marketing assets though. Things like webinars, white papers, guides, long-form videos, tutorials, original research, entertainment, websites, SEO landing pages, sales funnels and email autoresponders.

Each of these assets provides you with leverage. They help amplify your marketing over time. They continue to provide value long after they are published. Often you can get years of value out of a single one of these assets.

Sure, Facebook ads are sexy. Everybody loves Instagram.

And there’s a good chance you should be on those channels.

But you should also be investing at least 30% of your resources into creating lasting marketing assets for your business. These autoresponders and sales processes will sustain your business in the lean times and help you grow during the good times.

Ads are good. Building long-term marketing assets are the best.

Build assets in your marketing.

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