Episode 16 Transcript

You're listening to the Business in Morocco Podcast the
podcast that discusses all things
business and all things Morocco. My name
is Ryan Maimone, I'm here with my co-host
Ryan Kirk and our goal is to share our
knowledge and experiences in order
to help you gain wisdom skills and
habits that can help you succeed in
business and in life you can learn more
about us by going to our website moroccopodcast.com
alright let's get started with today's episode it's going to be a lovely day
all right welcome back to the Business
in Morocco Podcast this week we are
talking about habits one and two of the
7 Habits of Highly Effective People
being proactive and beginning with the
end in mind, that's coming up but let's
just start with an update Ryan where in
the world are you? how's the week going?
Hey Ryan things going well we've moved on
from Chicago we are now in Ohio visiting
some family members and we had an
interesting night last night there were
tornadoes that ripped through Indiana
and Ohio and actually destroyed quite a
few houses and buildings and it missed
us by I don't know 15 - 20 miles so that
was interesting I saw lightning that went on for
probably 20 minutes without stopping. Wow! which was pretty intense so yeah it's
been a good time just to reconnect with
family members and have a little bit of
relaxation later in the week we're gonna
drive from Ohio to Kentucky where we'll
visit my brother and his family so
things are going well still continue to
work I actually recently developed a
LinkedIn marketing campaign for one of
my clients the goal will be to acquire
new customers so I had him write three
articles that demonstrate his knowledge
and proficiency in his area of expertise
and we are going to run ads to those
three landing pages on his website and
we'll be able to do what's called A/B
testing but in this case it will be A/B/C
testing nice we will be testing three
ads and three different landing pages to
see which one is the most effective and
then likely what I'll do is turn off the
other two ads and pour the rest of the
money into the one ad that's most
effective and he's in a pretty good
situation when he gets a client his
average his average revenue per client
is between 15,000 and 50,000 USD
so we have some good margin to work with
when it comes to acquiring a new clients
yeah I'll say yes one of the most
important things to think about when you
are doing your customer acquisition cost
analysis how much does it cost me to
acquire new customer and what is my
expected revenue from acquiring that new
customer do you have a rule of thumb
that you use like a certain percentage
of your profit per customer that you'd
be willing to spend acquiring them I
have my own analysis on what I'd like a
customer to cost I want to pay maybe
five or ten percent of my expected
revenue okay now that's because I'm
often working in areas that are a little
bit more uncertain however there are
companies out there that will spend up
to 1/3 of the expected revenue yeah
that's what I've heard I've heard 30% as
a rule of thumb I think that that's when
you have a bit more mature company
you've really developed your customer
value proposition you've developed your
product offering your marketing funnel
you have a team in place you've been
able to scale your business so that you
have good processes good people good
products and services once you have a
very firm grasp on all of that being
willing to spend 30 percent of your
expected revenue on acquiring a new
customer it makes sense yeah because you
have a good history of work experience
and good knowledge on on what it will
look like to acquire that customer and
how much work you're going to have to do
for them yeah when I'm pitching a new
client or I'm developing a new marketing
campaign I want that cost to be significantly
lower if this particular campaign works
then we will double down on it and be
willing to spend more to acquire a new
customer
because the expected revenue is is
really high. why did you choose
LinkedIn for this campaign? so this
particular client is involved in
business services and consulting
specifically helping small business
owners sell their business okay so he
often negotiates not only an hourly rate
but also a percentage of the sale a
commission on the sale right so many of
the clients that he takes they have
fairly substantial businesses sometimes
millions of dollars in revenue and
that's why his expected billable hours
and commission can be in the tens of
thousands of dollars and the reason we
use LinkedIn is it's very easy to target
people in this very specific demographic
people who have labeled themselves on
LinkedIn as a business owner as a
business manager as a CEO as a CFO
they're self-described and so you can
target them and you can also target
their interests or their geographical
location or their type of industry and
in my mind it was very easy to create a
target audience for this marketing
campaign that was very specific to the
type of clients that we're looking for
you can also narrow the audience by age
or by gender or by education or a work
experience so in that sense we were able
to remove a lot of people from the
audience that will probably not be
interested or not be appropriate for the
content marketing I
see ya well that's good man you'll have
to keep us updated on how the campaign
goes yeah I will and I actually will
probably write a LinkedIn post on how
this goes and share it on LinkedIn so if
people want to find you on LinkedIn
well search my name Ryan Maimone or go to our about page on moroccopodcast.com and
you'll have links there to our linkedin
profiles perfect what about you? what's
going on? yeah it's been a good week I've
had several meetings preparing for
training workshops and team buildings
I'm doing in June so June is gonna be a
very full and busy month and May has
felt like a lot of setup for that so
what I need to do is make sure I'm doing
some deep work and preparing all those
seminars and and all those team
buildings so that June isn't
overwhelming so well my schedule looks a
little quieter now I need to recognize
that this is the calm before the storm
and put some time in at my computer at
my desk getting prepared and ready so
it's it's not too daunting when things
get a lot busier I also visited a
University in Tangier last month and
gave a lecture I was a keynote speaker
at an event they did and I posted that
on my youtube channel it's called the 5
Steps to Success and it was just advice
that I was giving to the the audience
which was you know a couple hundred
University students engineers and that's
been really well-received I've I've been
been happy with the feedback and I think
it's useful stuff I'm really happy with
the talk I'm proud of it and so if if
you're a young person that hasn't yet
seen that video make sure you check it
out at Maroc Treasure
all right well why don't we get into our subject for the week we're gonna be talking about
end in mind now for those of you don't
who don't know
Dr. Steven Covey was an American
professor who wrote a book in 1989
called the 7 Habits of Highly
Effective People and I think he was 59
years old or something when he published
the book and so it was really like a his
life's work and he he summarized these
principles that he believed were
relevant to not just American culture
not just the business world but to
people around the world in all stages of
life and I think the fact that the book
is still being talked about still being
taught it stood the test of time is a
testimony to the fact that that he's
right that these are principles of
effectiveness that we can all learn from
now both of the first two are really
really important and I've seen their
relevance and the need for their
understanding here in Morocco so let's
start with being proactive Ryan you had
a good definition of what that looks
like do you want to share that sure I
got this from Wikipedia "proactivity or
proactive behavior by individuals refers
to anticipatory change-oriented and
self-initiated behavior in situations"
yeah that's really good
one of the things that I do in preparing
for the team buildings that I lead is I
meet with the directors of departments
and a common complaint that I hear from
them is a lack of proactivity on their
team they get very frustrated by the
people that work for them that are
willing to do whatever they're asked
they're great at following instructions
and getting the job done meeting the
requirements of their job description
but they don't take initiative they're
not proactive they don't look at
problems that exist and come up with
solutions on their own they don't come
to their boss and say hey I was thinking
about this idea or I've got a new
project I'd like to pitch you
they simply busy themselves with the
specific instructions that they're given
to do and bosses don't want to
micromanage they don't want to babysit
they want to see people using their
initiative taking responsibility taking
ownership that's a phrase I often hear
take ownership take responsibility and
be proactive make stuff happen that's
really where you can distinguish
yourself in your career and stand out
from the crowd yeah that's that's a
great point and we talked about
proactivity in the definition I read
anticipatory change-oriented and self-initiated behavior the definition of
anticipatory means doing something
before you are told or directed to do it
anticipating a need or anticipating a
problem and taking action to either
prevent it or solve it if you want to
move up in your organization or you want
to become a business manager or business owner you can't sit around and wait for
other people to tell you what to do and
if you're wondering why you haven't been
promoted or you haven't been given more
responsibility it may be because you are
always waiting to be told what to do and
if you anticipate problems you
anticipate issues and you work to solve
them without being told then that's one
of the ways to be proactive the other
definition here being change oriented
meaning an essential element of being
proactive is being effective and causing
change it's not doing busy work it's not
pretending to do work or just looking
busy it's actually causing positive
change on your team or in your
organization and the last one is self
initiated which has to do with
anticipatory you're the one causing the
change you're the one seeing
the problem you're the one taking action
you're the one determining the solution
now every work environment is different
and you may have managers or coworkers
who are more or less open to the idea of
you taking on problems and solving them
by yourself but you can be proactive in
any organization for example let's say
that your boss is somewhat of a
micromanager you can identify a problem
to your boss and suggest a solution and
oftentimes bosses will appreciate that
not just that you're complaining or that
you're telling them about a
problem but that you are identifying a
problem in offering a solution and there
will be times where you're told no but
if you keep doing it you will likely be
given opportunities to to take on more
responsibilities and move up in the
organization yeah that's right
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students learning to program building
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is serious fun.
now back to the show
and being proactive we've been focusing
on what it looks like in your career but
this is a principle that extends to all
areas of your life taking responsibility
so you think about your relationships it
can be very easy to identify changes
we'd like to see in other people you
know ways we wish people treated us or
we wish they understood more ways we'd
like those around us to change however
we do not control the actions and the
behaviors of others we only get to
choose how we act and behave now those
behaviors may influence those around us
they may not they have freedom to choose
how they respond to how we act but it's
up to us to take control and
responsibility for how we act to be
proactive so if you're not happy with
something in your life rather than
focusing on the things that we don't
control might be the economic situation
in our country it might be the
government and their policies or laws
that exist it might be limitations in
the way that God has created us you know
you would have designed yourself
differently if you were God, well we
don't get to make those kinds of
decisions and so in those cases there's
no value in mourning and complaining or
grieving those things or focusing our
attention on them and wishing it was
different we need to put our time and
attention on to what we do control and
the areas that we can influence and that
gives us practical steps that gives us
actions we can take to change the future
absolutely and one of the things that
prevents a lot of us from taking this
kind of action is peer pressure or a
cultural understanding of what is
appropriate in a given situation if the
most important thing that you're worried
about is what your co-workers or other
people in your organization will think
about you if you try to be proactive and
you look for problems to solve and you
try to be helpful and you try to learn
something new every day and make things
happen if you're worried that people
will criticize you for doing things that aren't your job or
for being what is known as a suck up to
the boss then you'll just stay where you
are if that's the most important thing
to you is your reputation among your
peers and the most important thing to
you is not being criticized for for
doing things that people don't think you
need to do then you'll stay right where
you are but by definition as you move up the
organization you will be exceptional you
will be different because every
organization is in a pyramid and as
you go higher and higher the number of
people gets fewer and fewer and the
criteria for being one of those people
it gets more strict and more intense if
you want to be promoted if you want more
responsibilities if you want to have a
higher salary and a better job you must
be proactive you you will not find
managers of hotels and managers of large
organizations decision makers people
with high salaries and nice cars you
will not find people who for the entire
career just waited to be told what to do
you're just not going to find them
that's not who gets promoted that's not
who leads organizations and it's not the
type of person that starts a successful
business yeah so when you think about
your larger mindset in life some people
view things as just the will of God and
that it's been faded it's been decided
and they have no control what is meant
to happen is going to happen and so
there's no real reason to take
initiative and to take ownership and
they wash away all responsibility and
they just kind of go with with the flow
and and see what happens
and the good things are gifts from God
and the the bad things those are things
you complain about but it just
completely eliminates
action it completely eliminates the
initiative required to change things in
the future
others blame their circumstances and
they consider themselves a product of
their environment and so the type of
home they grew up in the family
situation that they've had the education
that they've received maybe other
unfortunate circumstances tragedies
health issues that you've encountered
and they just blame their environment
and they say they are the way they are
because of how they were raised or
because of the type of neighborhood or
the culture where they were born
but being proactive requires you to look
at the world a very different way and to
recognize that you are where you are
because of your choices now this is
particularly true the further and
further you enter into adulthood so I
recognize that my kids don't have a lot
of freedom to make choices right now my
wife and I are really shaping and
influencing the direction that their
life goes they can't make those kinds of
choices right now they very much are a
product of their environment and their
upbringing however the further you get from the age
of 18 or at whatever point you you get
to have some freedom to choose your
future is more and more shaped by your
choices and if you say well no you need
a good education you can find examples
of people who didn't have a good
education but completely transformed
their life or all you need to come from
a rich family or a happy household again
you can find examples of people who defy
those odds and so your excuses just
don't hold up
in order to be proactive you've got to
recognize that your future is a product
of your choices and that transitions
very well into the next step. step number
two begin with the end in mind, if your
end is the results of the choices you
make over time then the choices you make
are very important and I know that in
Morocco there's a very common saying
Inshallah, if I say to someone I'll see
you next week they'll say inshallah and
as you said Ryan there
is a mentality that everything that
happens in life is God's will and well I
agree that God has a will and that is
important to think about God's will for
our lives I think that everyone who says
Inshallah for everything they know
inherently that it's not true and the
best example I have is think about the
farmer, if the farmer went out to his
field and just looked at his field and
said "and now watermelon shall grow
according to the will of God" and he just
stood there and he watched his field day
after day, week after week, month after
month, and no watermelons appeared and he said ok I guess it was Inshallah it was
the will of God that no watermelons
appeared but everyone knows that the way
you get watermelons to appear is to plow
the field to till the soil and to plant
the seeds and anyone who has an
expectation of watermelons appearing in
a field without having planted seeds,
that person is just crazy so even with
God's will we know from the very basic
example of the farmer that we are
supposed to do work, that outcomes
in many cases are determined by the work
that we do whether it's planting seeds
in a field or studying at a university
or taking online classes or doing an
internship an apprenticeship learning a
new language all of these things will
impact what we are capable of doing and
they will impact our future and just
like the farmer in the field who planted
the seeds the watermelons don't show up
the next day he's planting the seeds
with the end in mind he's plowing the
field with the end in mind he's delaying
his gratification he's working the field
planting the seeds watering the field so
that he will have on harvest in the end,
yeah to build on your example Ryan we
don't control the weather you know it's
it is God who determines is this gonna
be a flood year is this gonna be a
drought year but we are able to react
we're able to take actions based on the
environment that we find ourselves in so
if it's not raining a whole lot well
then I can go and water my field more I
can dig a deep well or I can choose to
locate my field next to a water source I
can plant crops that don't require as as
much water as others I have options I
have choices but to just fixate on the
fact that it's the will of God negates
my own responsibility, exactly and when
you talk about beginning with the end in
mind it is essential to take
responsibility for your own outcomes to
take ownership if you aren't taking
ownership for your life and where you
are, then you will be stuck where you are
because you are the only one who can
affect change in your life no one is
going to walk up to you off the street
and hand you a high-paying job you have
to earn it and that's true for Morocco
or Europe and it's true for the United
States. this idea that if I move to the
United States and when I get off the
plane someone's going to pick me up in a
limousine and take me to this high
paying job it's just a fantasy no matter
where you are in the world you have to
earn it you have to be proactive and you
have to take the steps along the way
that will create the results that you
desire yeah I had a guy contact me
recently that's struggling to find a job
and he's worked overseas in the finance
and banking industry but since he
returned to Morocco he hasn't been able
to land a position with a company here
and the excuse he gave me or the reason
he gave me is that companies really
prefer to hire new graduates
I guess he believes that
you know companies like to start with a
blank slate and be able to train them
from the ground up but I find the
opposite excuse being presented to me
from new grads who say all companies
want people with experience and so you
have one guy over here saying I wish I
was a new grad that's what companies
really want and then you got another guy
on the other side saying I wish I had a
couple years experience I wish I'd
worked with a bank abroad then I could
really land a position and both of them
aren't recognizing the advantages of
their position and they're using what
they lack and what they don't control as
an excuse for their lack of action so
I'm actually going to meet with this guy
this coming week to do a little
consultation and see if I can't can help
them with his mindset and maybe some
practical tips to land a position I'll
have to update you on how that goes
that's a great example Ryan and if there
is one takeaway for our listeners from
this episode is that you may be a victim
of circumstance or a victim of the
actions of others or the victim of bad
policies from a government that may be
true, but it doesn't matter because
you're the only one that can fix it and
two of the best ways to fix it is to be
proactive and to make choices with the
end in mind
you've been listening to the
Business in Morocco Podcast. my name is Ryan Kirk here with my co-host Ryan
Maimone, if you enjoyed this episode be
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theme music is Lovely Day by Bill
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we hope you'll have a lovely day
doing business in Morocco we'll see you next time

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