MBA2016 Why I Am Not on TikTok

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Business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of Webinar Ninja, an independent software company I started with my co founder back in 2014 and in today's lesson you will learn we're why I'm not on TikTok I covered TikTok in a previous episode of this podcast and I shared with you that it's really important actually to explore new platforms and then decide if it's good for you and your business. TikTok is a very, very powerful platform. I mean, listen to some of these stats. The average user of TikTok spends 24 hours on the platform every month. 90% of TikTok users use the app every day, and 83% of users of TikTok have posted at least one. So there is no doubt the platform has eyeballs, has attention, has engagement. But why do I choose not to be on it? You might be surprised by the answer, but I'll explain my answer. I'll show you why I choose to do this. Because you might want to consider some of the things I'm considering when I decide not to be on a platform because at the end of the day, your greatest asset is your time and you need to make sure you're spending it on the right things to grow your business. So let's get into it. Let's get down to business.

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I want to start today's episode by saying TikTok in particular is not such a horrible platform. Yes, there are people that have security concerns and its algorithm is incredibly addictive. And I'm not here today to pick on TikTok. You know, TikTok is another social media platform. I don't really think much of it in terms of it being worse or better than any other platform that's out there. They're all pretty addictive. They're designed, they're engineered to be addictive because that's how they make money when you're on the platform. So I want to share today why I decided to be off TikTok. And it really just boils down to one factor. We all only have 24 hours in the day, and I really need to decide how I'm going to spend every hour, because each hour counts. And what I spend it on, what I don't spend it on, is going to directly affect my success in my business. So I have to weigh out the pros and cons of if I spend an hour on TikTok day trying to, you know, share content and really invest in the platform, will it pay me back and give me that return on investment that's worth that investment of time every day? Because there's something called opportunity costs. If I'm spending one hour on something, that means I can't spend that hour on anything else. Meaning if I decide to spend an hour, you know, putting up content on TikTok every day, I can't spend that hour, you know, improving my podcast. I can't spend that hour optimizing my email marketing. I can't spend that hour on improving my conversion rates on my website. I can't spend that hour improving my actual products and services. So you see what I'm saying? Like, where is that hour best spent? Now, the problem I see in particular with TikTok is that it's never just an hour. TikTok is probably one of the most addictive platforms I've ever encountered, because part of the strategy of being on TikTok is not only just producing content, is following the right people, understanding what your audience on TikTok wants to see. So there's a bit of consumption with production and it demands a lot of your time. And to be honest, I'm just not willing to spend that much time on a platform or build my business on a platform that's not mine. You know, at the end of the day, you know, they can ban TikTok. TikTok can be bought and sold. It can go out of business. It can do a lot of things where I just lose all that work that I put on the platform. Many people have experiences with platforms that have come and gone, whether it's Vidyard or, or Clubhouse or even, to a degree, Snapchat. And let's not forget about Vine. There's lots of different platforms that come out that can come and go. I'm not saying that's going to happen to TikTok. They probably have established themselves at this point. But I don't like the idea of spending so much time and investment on something that is really not mine. It's not my platform, it's not my website, it's not my podcast. Now, I'm not saying that this is the right decision for every type of business. If you have a team that can create content for you and publish that content on your behalf, TikTok might be one of the best places to build some attention and an audience. But in general, what I found is that when I don't produce the content, when I'm not doing the teaching, because I do have a personal brand, especially with this podcast, the content kind of falls flat or it doesn't get the same attention or traction that we need now. Of course, you know, you can get a team that can edit all your videos and your webinars and put it all together and post it on your behalf. Our business, business right now is just not at that point. We don't have that large of a team when it comes to marketing. We have a few really good players that do a lot of different things when it comes to our social media and a lot of our content and our marketing, but a dedicated team for social media content, like somebody like Gary Vee. Has where he's pumping out literally hundreds of different pieces of content daily. Maybe at some point my business will be there and the investment will be worth it. But if I have to invest my own time, that's really something I'm not.

Willing to do because I have other.

Platforms that I already have traction that I really need to work on, like this podcast, like my own website, like my products and services. You get the point. A lot of us, we get distracted by different opportunities. There's an old saying that says most businesses fail not because of famine, but because of gluttony. Meaning they get overwhelmed with all the opportunities. They try to do everything, be everywhere, and what happens is they spread themselves too thin. In today's day of online business, we have so many options, it's almost overwhelming. Right? So your job as the leader of your business is to really reign it in. It's really to understand, hey, I only have a certain amount of time every day to work on my business, to work on my marketing. I need to be selective and really be very, very picky when it comes to how I spend my time, where I build my audience, how I do it, and really double down on those spaces and those efforts. Because at the end of the day, you need to get results in a reasonable amount of time. And let's say for example, you work 50 hours a week and you're spreading those 50 hours against 25 different places or 25 different activities to grow your business. You're only dedicating two hours a week on each area, on each task, on each channel. But let's say, for example, I had 50 hours a week and I'm spreading out across five different areas. Now I'm spending 10 hours on each area, on each marketing channel, on each kind of focus point to build my business. And now I can get real traction really quickly because 10 hours plus 10 hours plus 10 hours, 40 hours a month versus 8 hours a month. So you could see the compounding of of traction you can get if you don't spread yourself too thin.

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To wrap today's episode. I don't have anything particularly against TikTok, but be mindful of how you spend your time. If you want to go all in on TikTok and spend a good amount of time investing in your marketing there, great. But just be mindful, hey, do you want to do that? And be on Instagram 24.7and on Facebook and on Snapchat and on Twitter and on and on and on. You get the point. And at the end of the day, these are tools to get attention to market to brand. It's not where business gets done. Your website is really where your business gets done. It's where a transaction happens. So a lot of us, we kind of put the cart before the horse. We forget we need to make sure our home is ready to take on visitors, our business is ready to take on customers so that when they actually do find out about us and they go to our website, they that we actually convert them. They actually really love what they see and feel like. If they buy from you, they're going to get a return on investment. They're going to be happy with that purchase. Most businesses don't have a traffic problem, they have a conversion problem. They have a problem where when people actually go to their website, they don't convert. And I've talked about this before, but if you just improve your conversions just a little bit, your business can blow up. Just some quick math. If you had 100 visitors a day and your conversion rate is 0.25%, that means it's going to take you four days to get a customer. But if you up that to 1%, guess what? You get a customer every single day. You just quadrupled your sales because you focused on conversion and you had the same amount of traffic. No ads, no worrying about being on every platform. Thanks so much for listening to the 100 RMBA show. If you love what you hear, hit, subscribe or follow on your favorite podcast app. And don't forget, leave us a rating and review on your favorite podcast app. We'd love to hear what you think of the show. By leaving us a review and subscribing, you let other people know that you love the show and you help spread the word. Thanks in advance for doing that. Before I go, I want to leave you with this. One of the things I had to learn very quickly when I went from being a teacher, an employee to a full time entrepreneur was my time is very, very valuable. Meaning that time, the way I perceive time and work is very different. Most people kill time at work. They're waiting for the clock to strike five or six so they can go home. But in business world, in entrepreneur land, you want the clock to slow down. You need more time. Every minute counts. So it took me a bit to realize, wow, my greatest asset is my time. I can't make more time. Right? You only have a limit of time. Everybody has the same amount of time every single day. But you can make more money. And the reason why money is so powerful in business is that it allows you to be a little bit more liberal with how you spend your time. Meaning you can hire somebody to do some of your menial tasks. You can delegate, you can outsource. This is really why people want to be rich. Thanks so much for listening and I'll check you in tomorrow's episode Freeride Friday. I'll see you then. Take care. Of.

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