I'm a designer who turned into a writer who turned into a startup CEO. My mission is to help creators earn a living. Subscribe for essays on building an audience and earning a living as a creator.
7 flywheel mistakes creators make
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Hi Reader, Most of us start a business to free ourselves from the restrictions of a day job. We love the idea of working when we want, where we want, and with complete autonomy. The good news with running your own business is you own all of the upside. The bad news is, you often end up creating another job for yourself. You’re stuck on a hamster wheel of requirements. You can’t actually work when and where you want because there are certain demands on you that only you can do. In an attempt to get back your autonomy, you look into the concept of flywheels. Maybe you read my essay on Creator Flywheels. You discover ways to take your scattered and linear processes and turn them into cyclical flywheels that continue to generate more and more results with less effort. But for some reason, your flywheel isn’t running smoothly. It’s not generating the results you hoped for, and it seems overly complicated but you’re not sure why. The idea of putting the steps of a process in a loop seems simple enough, but there are details in practice that aren’t entirely intuitive. Here are 7 mistakes I often see creators make with their flywheels: 1. Not having a clearly defined goalWhat is it you want this flywheel to accomplish specifically? A poorly defined goal results in bloat and causes several problems:
2. Having multiple goalsSimilar to the problem with multiple priorities, multiple goals makes it less likely your flywheel will achieve any of them. Having multiple goals creates friction, and that friction slows down each rotation. If you don’t establish a single goal, your flywheel will either not function or, if it does function, it will be difficult to build momentum. 3. Giving up before the flywheel starts spinningWhile you don’t want to continue doing something that isn’t working, you also don’t want to quit too soon. It takes time for a flywheel to spin up. Don’t get discouraged when you don’t see immediate results. Every flywheel will require tweaks and adjustments in the early stages. It takes a number of rotations to dial things in, so expect it to be a bit harder in the beginning.
4. Having a weak loop closerWhile a flywheel is a loop, there’s usually a first step—which means there’s also a “last” step. I call the last step the loop closer. Too many flywheels rely on a soft or wishful loop close. It works, but it's not strong. Instead of hoping for an ideal outcome, we want to engineer it. Work backwards: What’s the goal? How can you make your loop closer generate more of the results you want? 5. Optimizing steps before eliminating themBefore you optimize any steps, do a pass and ask yourself which steps can be eliminated entirely. There’s no sense in improving something that shouldn’t be there in the first place. This goes back to why having a single, clear goal is so important. If you have ambiguous goals (or multiple goals), you’ll end up with step bloat. Start by eliminating entire steps if you can, then move on to optimizing any that remain. 6. Not measuring resultsIt’s imperative you measure the results of each rotation of your flywheel. Especially in the beginning. I’ll say it again: this is why you need a single, clear goal. Only then can you determine if the results you’re seeing are trending in the right direction. Measure the results of each rotation and set check-in points (30 days, 90 days, etc.) to review how things are going. Make adjustments if things aren’t trending in the right direction. 7. Not seeking feedbackLet’s say you’ve given your flywheel a chance to spin up. You’ve made tweaks over the first few rotations, but you’re still not seeing results. This is where a lot of people quit because they don’t want to keep doing something that’s not working. But why is it not working? Sometimes you can’t see the problem on your own. This is where it’s helpful to seek an outside perspective to find clarity. Keep in mind, however, that an outside party can only give useful feedback if A) they know what you’re trying to accomplish, and B) you have measured results over time they can review. Only when they can compare results against your goal can they give useful feedback. State your goal, measure your results, and seek feedback at regular intervals. PODCAST$100M Blueprint for Brand GrowthWhen you think “$100M business”, you probably don't think quilting. Would you believe that a tiny town like Hamilton, Missouri could become the ultimate quilting hub, earning the nickname “the Disneyland of quilting?” Learn how Al Doan built a $100 million business and why every business should have a town. Watch or listen to episode » PODCASTSPI: The Creator Network Literally Grows Your Email ListIt’s hard to believe the first time I joined Pat Flynn on the Smart Passive Income podcast was way back in 2013—over a decade ago. In this episode, we talk about all things email and how to grow your creator business, including:
Before you go... What interests you most about the concept of flywheels? What problems are you experiencing now that you think flywheels could help with? Hit reply and let me know. —Nathan |
Nathan Barry
I'm a designer who turned into a writer who turned into a startup CEO. My mission is to help creators earn a living. Subscribe for essays on building an audience and earning a living as a creator.