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Entrepreneur Mindset

The Death of the 10-Year Business Plan: What You Need to Know Right Now About Building a Business That Stands the Test of Time

The only thing that’s constant in business is change.

The world is always changing… 

Consumer expectations are always changing… 

The market is always changing… 

And most importantly YOU are always changing.

The irony is that none of us can do anything to change any of it 🙂

And the second we think we got it made, the moment we believe we have it all figured out, it’s game over.

Because no matter what your area of expertise, no matter what industry you’re in and no matter how great you are at what you do, there’s no such thing as a fixed, unchanging formula for success.

And if you make the mistake of thinking you nailed it, someone’s going to come and eat your lunch…

I guarantee it!

Forever Doesn’t Exist Anymore

My friend Eben Pagan says that the #1 skill in the world today is reinvention and I agree!

One of the smartest and most effective things you can do right now is to stay open to pivoting and reinventing yourself and your business over and over again.  

The way I see it, the 10-year business plan is dead (and maybe even the 5-year business plan!) because what’s working in marketing and sales and everything else in the online space is changing all-the-time.

So it’s definitely not about finding one way of working, one way of doing things in your business and then sticking to that forever.

The fine art of change and reinvention is about shifting away from making “forever” choices to making “for now” choices in response to what’s going on around you.

And I wish I could tell you something different, but the truth is…

If you want to stay in the game, if you want to get ahead, you need to get super comfortable with change.

… But It’s Not Random 

Back in the 20th century, people got out of college, applied for a job in company X, Y or Z and — if they got hired — they were in it for the long haul.

 And it’s safe to say that a lot of people worked in just one or two companies their entire career and most people stayed in the same industry all the way to retirement.

But that’s not how things work anymore.

These days some people switch jobs, businesses and even industries, as often as they change cars!

Just to be clear I’m not saying that’s a good thing… building a successful business in today’s marketplace isn’t about making random changes or following a new passion or trend every 5 minutes.

It’s about making ongoing course corrections, shifts and transformations based on how the market is evolving and what clients and customers say they want and need.

How to Beat the Odds

So when you first start a business, you’re likely to go with where you’re at in terms of expertise and experience.

You’re going to launch offers and services based on your skills. You’re going to pick your niche based on what you’re great at doing and how you want to help people and that’s a good place to start.

But know this…

The most powerful way to build a business that stands the test of time right now is to consistently create offers and services that people value and are willing to pay for at any given time.

You need to pay close attention to how real people respond to you and your work and — as you get feedback — be prepared to make changes and adopt what I like to call the “iterate your way to awesome” mindset.

It’s what I did when I first created the Experience Product Masterclass or EPM (our signature program on online product creation).

Based on feedback from my early work with clients and customers it was clear to me that giving people more knowledge and more information just wasn’t cutting it anymore.

As the industry became more and more sophisticated, people wanted real, tangible results from their online programs and courses.

They were craving experiential learning — basically high-touch guidance and support — plus actionable ideas and techniques that work in the real world.

When I realized this, I took everything I learned and created a whole new category of online product that revolutionized the online education industry

That’s how EPM was born and that’s why it became a blockbuster product for our company!

3 years on — at a time when a lot of business owners are seeing a significant downturn in sales for their online offers — EPM continues to beat the odds.

And I’m proud to say it’s one of the most successful programs around 🙂

Change is Never Painful… Not Really

Here’s the thing…

Your business is not static. It’s not something you set and forget. 

And what I’d love for you to do is start and grow your business with an attitude of flexibility, non-attachment, and openness to change.

It’s a bit of a spiritual concept and I think it’s the Buddha who said…

Change is never painful. Only the resistance to change is painful.

So let go of your attachments to how you think your business needs to work and allow yourself to flow and transform based on what’s best for you — and for your clients and customers.

Allow yourself to be flexible and bend with the feedback and changing environment, and I promise you won’t just survive… you’ll thrive for years to come!

A final note on building a business that stands the test of time…

Let go of perfection.

As I said, change is the only constant in business so you might as well do the best you can with what you have — and what you know right here, right now.

And if you’re feeling uncertain about the changes you’re facing and what you need to do first (or next) in your business…

If you’re confused or overwhelmed around choosing a profitable, fulfilling business or product idea…

Check out my free in depth masterclass on how to start and build the business you’re truly meant to build (not just the business you can build) 🙂

I go deep into:

  • The 3 paths you can follow to start a business – and why only one leads to purpose, passion, profit and play! 
  • The 7 key criteria to identify the perfect niche for you so you can make great money AND love what you do
  • How to tune into what you really want so you can design a business that aligns with your natural strengths and one that pays you well for doing the work you’re meant to do in the world… and s WHOLE lot more!

Get your free masterclass here

Now it’s your turn…

If you had a magic wand, what’s one thing you’d like to change in your business today? What’s something you’d love to do differently? Something you’d like to shift or pivot or reinvent?

Maybe it’s your website or branding? Maybe you’re tired or bored of doing what you do and you’d love to go from being a copywriter to being a coach or marketing expert?

Share your thoughts, stories and questions in the comments below. I personally read and reply to each one 🙂

Love it? Hate it? Let me know...

  1. michael

    Hello! Thanks for the information. How do we improve our credit Ratings and Score???? Thank You. michael

    Reply ·
    1. Marisa Murgatroyd

      Sure thing Michael! That’s a great question for a financial coach! 🙂

      Reply ·
  2. Robyn Unwin

    I’m in the middle of the Experience Product Masterclass right now and I wish I’d found this course and community years ago. I’ve already learned so much about engaging my students online, something I’ve been trying to figure out since I created my first course….I love the ‘iterating my way to awesome’ concept and that’s what we’re all supporting each other to do in a fun, creative and intelligent environment led by top notch coaches and experts. Excellent program.

    Reply ·
    1. Marisa Murgatroyd

      Welcome to the community Robyn! I’m so glad you found us and thanks for your kind words about EPM. I hope to meet you in March at M2M Live! 🙂

      Reply ·
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About the Author Marisa Murgatroyd

Marisa is the founder of Live Your Message, where she turns entrepreneurs into Online Superheroes, and the creator of Start With You where she helps people just like you to discover the business they're meant to build, not just the business they can build. At 4’11 and a quarter, she’s called the shortest woman in marketing — and that doesn’t stop her from having huge ideas. She’s the “go to” brand builder for industry luminaries and heavyweights such as Justin Livingston, Callan Rush, Danny Iny, Alexis Neely and Susan Peirce Thompson. Marisa helps entrepreneurs create a business that is authentic and aligned with who they are, to empower them to turn up the dial on their “inner superhero”, so they can be the superhero to their tribe, as well as in their own lives.

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