Videographers often stick with outdated strategies like word-of-mouth and cold calls because they've invested time in them. The sunk cost fallacy keeps you trapped. Switch to inbound marketing, ads, and AI tools or get left behind.
What's going on, guys? Welcome back to another video. This is going to be more of a short one, but I wanted to kind of recap a talking point that we talked about on our live earlier today. And one of the biggest things that I think holds people back is sunken cost fallacy. And if you don't know what that is, essentially what that means. Sunken cost fallacy is basically the idea that you've put so much into a certain solution or path that you've sunken so much cost that you can't turn around and change directions. And, and we see this a lot with the people that we talk to on our calls because we've talked to thousands, like 9 or 10,000 videographers and video business owners. We see this a lot because, like, they get stuck in the way that they do business, right? So you get stuck in the way of like word of mouth referrals, cold calls, waiting for people to come to you, all these methods that work but don't work as well as you want them to. And so you think if you just keep doing them, you're gonna get the result that you want, when in reality that's not actually what's going to happen. And we talk to people all the time that don't want to switch their strategy because they feel like they've sunk in so much cost already into the way that they're doing business. And I'm here to say, like, that's not true. You can 100% switch up and change strategies. People do it all the time. And often like that. Sunken cost fallacy is what actually kills people's businesses because they are unwilling to change with the times, right? It's like, think about when the Internet was invented and companies didn't want to get on the Internet, they didn't want to get a website. What happened to those businesses? Well, they got left behind, right? It's like with AI now, if you're not using AI in your business, you're going to get left behind. And there's ways to incorporate things and change, but the only thing that is constant is that things are going to change. And so if you're stuck in the way that you're doing things, you're scared of making changes, you're scared of implementing a new system, you're scared of doing different things because you don't know what's going to happen. I mean, you just have to ask yourself, like, what is the alternative? I keep doing things the way I've done them and keep getting the results that I've been getting or I make a change and I get the results that, that I want. And I think a lot of people are scared to make that jump. I myself was scared to make that jump when I first started as well. So I definitely empathize with it. But in order to be successful, you have to adapt new change and try new things. And word of mouth and referrals works. But developing an inbound system where people are booking on your calendar from ads and organic and they're coming through a system to get on your calendar works a lot better because it's more efficient. It's kind of like trying to dig a hole with a shovel or dig a hole with a backhoe. Obviously the backhoe is going to get your results quicker. Right? We all know that. But we still dig with the shovel sometimes because that's the thing that we know. We don't know how to use the backhoe. So that thing looks big and scary over there and we don't want to touch it when, you know, all it takes is some training and some, some learning curves and then now that we know how to do it, we're ten times more efficient. So just a short video. Hopefully this resonated with you guys. If it did, drop a comment down below, let me know. I'm going to try to do more of these kind of like mindset type videos that are a little bit less tactical. Tactics are obviously very important, but understanding the mindset behind implementing the tactics is also really important because if you don't have the right mindset, you're not going to implement the right things. So hopefully that makes sense. Outside of that, have a good day. We'll see you in the next video.
