When it comes to running and managing your business, there are two types of business owners:
- Just in time
- Just in case
We all have tendencies of both; chances are, however, you swing towards one or the other.
Let’s define:
“Just in Time” business owners invest in programs, software and products “just” as they need them, never sooner.
If you’re a “Just in Time” business owner, you purchase a product on how to host webinars a just before you need the information.
Hosting an event? You learn everything you can about hosting events as you start to plan yours.
“Just in Case” business owners on the other hand, invest in programs, software and products “just in case” they may need them “someday”.
If you’re a “Just in Case” business owner, you invest in a product on hosting webinars because you’re thinking you may host one someday and you’ve purchased everything you can about hosting an event so you’ll have it if the time comes.
Like with most things, there are pros and cons to both “types”.
Just in Time
Pro: Invest in things as you need them, so you purchase only what you absolutely need and always get the latest info.
Con: May not leave time for you to fully learn/implement before you need – can lead to stress, overwhelm and lower revenues.
Just in Case
Pro: Usually have what you need so if something pops up, you’re ready – you have time to fully learn the program, strategy, technique.
Con: Can lead to stress, overwhelm and lower profits when you invest in several things and don’t fully implement/maximize them.
Since you don’t want to be stressed, overwhelmed and with lower revenues/profits, what are you going to do?
Make It Real
Take a couple of seconds, and maybe a glance at your bookshelf, and ask yourself, “Am I a ‘Just in Time’ or a ‘Just in Case’” business owner (and this ABSOLUTELY translates to our personal lives as well!)?
We’re all a bit of both, but which do you find yourself leaning toward more?
What actions can you take/modify to ensure you’re more middle of the road and consciously choosing when to invest rather than acting impulsively?
Questions to ask yourself:
- Just in Time: Take a look at your marketing calendar (don’t have one?) and allow at least 10 weeks before launching anything new that requires a marketing plan (for live events, make that 7-9 months).
- Just in Case: Before reaching for your credit card, ask yourself, “WHEN will I take action on this?” and then schedule it in your calendar before the final purchase happens.
And always remember, it’s about accepting and embracing who you are naturally and adding systems (a.k.a. “questions” in this case) to ensure the outcomes you desire in your business.
Updated on Jan 19, 2018.