I love this story, recorded during our longer interview with Monica from 2010. It felt to me, as she was relating it, that she was discovering and analyze this situation in the moment; as if, in fact, she was coming to terms with her feelings about it just as we were talking. She argues with herself a bit: "I'm not sure it was a mistake... [but] it's just not a fruitful use of time..." just like we do when we are evaluating something that isn't working out as we'd planned. Magic!
Download "Monica Gould - realizing a strategic opportunity is actually a waste of time" (2:21)
Transcript:
I don't know that it was a mistake, I just... strategically I've invested a significant amount of time in garnering state government contracts. And it's just not a fruitful use of time. I say it's a mistake because I should have realized how closed that market is and perhaps not invested as much time and energy in it.
Because it's an opportunity lost. I'm spending time marketing in this arena, and there's another whole business arena that's a whole lot more accepting of bringing in new people and networking and meeting people.
I guess the big lesson is, once you go into a marketing strategy, test the waters, give it some time to work, but don't waste too much time in it. I've retracted my time and resource from doing that. Not because I don't think there's business out there, but I don't think they're willing to bring new people in. They're entrenched with the contractors they have. It doesn't matter how good you are, unless you have worked for PennDOT for 15 years, they're not just going to take a new firm. I'm not the only person who's experienced that. It's really not worth my time and energy to bid on that stuff. I learned, don't waste too much time in one area. You're going to lose opportunities to get work elsewhere.
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