“Don’t be that donkey!” I said that out loud to myself the other day.
That may not sound like an inspiring mantra, it is a useful one for making marketing decisions. Let me explain.
It refers to a fable where a hungry, thirsty donkey is placed midway between a bucket of water and a stack of hay. He can’t make up his mind. So, he dies of both hunger and thirst.
When it comes to my marketing, I don’t want to be that donkey. I want to make the right, definitive decision for my business without being paralyzed. You shouldn’t be that donkey either.
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However, the odds are against us. We have way more options to choose from than just hay or water (I wish it were that easy). Every single day, some new tool or service — a promise of a breakthrough — is placed within arm’s reach.
Have you seen the FinTech Solutions Map from Michael Kitces? It has several hundred tools and services ranging from automated marketing and financial planning, to digital asset management and CRMs. That number isn’t getting smaller anytime soon.
The amount of “water and hay” is growing exponentially. As a result, many of us get paralyzed by decision fatigue and do nothing.
Or, we end up choosing random tools and services — one right after the other — and throw good money after bad, hoping that “this time, it’ll be different!”