December 11, 2018
Quite often I see business owners misdiagnosing the problems in their business’ as marketing problems when in reality your business Is just broke.
Let’s first focus on mindset and implementation. This is where we move into place of conscious competence or conscious incompetence where you don't know what you don't know. And let's face it, what you've been doing so far hasn't been working for you. And normally it's because the business owner has the wrong mindset. you'll get some practical tools and mindset techniques to learn to do things differently.
So, at the moment I bet you're not reinvesting into your business. Now I've done loads of talks and words that crop up often are that we can run a business by doing it free or cheap or DIY, doing it yourself, and basically, all you're doing with that is sticking plasters all over your business. The harsh reality is that you need to reinvest money back into your business.
I've got 10 of your perfect clients, each client has a black satchel full of £5,000 cash. Each one of those clients is going to tip the satchel full of cash on to the desk in front of you. Now all you've got to do is pay me some of that money. So how much would you pay me, 5%, 10%, 15%? Well to be fair, I probably wouldn't get out of bed for much more than 20%, but, and this is the question are you reinvesting 20% of your turnover or time back into your business?
The answer is most businesses don't and I know why. It's because you don't actually know if that investment will work. It’s a little bit of trial and error and you only really want to invest your money in things that have some kind of a guarantee that they'll work.
Will it yield you result’s and will it get you more customers?
Answer is, we don't know.
So, you simply don't invest in your business. And then you wonder why you struggle from month to month.
Many business owners simply don't plan for the future of their business.
You had this idea for a product or business but ultimately you didn't have a great business for the idea.
And maybe you seen other people do it successfully and you thought that you could do it. But you must remember that you're not them. Your different to them. And you never really think about why you do what you do. You're just getting up every day on autopilot doing the things that other people tell you to do, all these marketing experts and gurus telling you to go to networking events, do Facebook ads, write blog articles. But you don't really understand why you're doing that. So, you end up spewing pointless marketing bullshit into the world which doesn’t benefit anyone.
You have to have a very clear idea about what your goal is, like what direction are you heading in. You need to know what activities you need to do in order to achieve that goal and you also have to have a huge desire to achieve that goal. Otherwise it just doesn't happen. It will kick you in the bollocks from time to time It's about having the resilience to get back up and keep on driving towards your goal.
But being British what we tend to do is that when we're getting derailed, we let the fear of failure, fear of not finishing what we started, fear of letting people down, fear of success stops us from moving forward.
There’re all sorts of different fears which crop up here and basically, we carry on regardless. And that's self-sabotage.
What value you can deliver for your customers and your prospects? Finding that is getting comfortable with being told no, but also with you saying no to prospects. Scarcity mindset in small business means that we just take on any work that we can possibly get coming our way.By just accepting any and all types of work it doesn’t give your business value, you have no niche, and this can hinder you a lot more than saying no.
Sometimes business owners are so desperate to take on new business, they'll skip the assessment process. They will skip the consultation and they'll just take on a customer without really vetting them and then wonder why that customer becomes a pain in the ass.
You’re now feeling like you don’t really know what to do with this information, you agreed with a lot I’ve said haven’t you?
Sounds like you need a hand…
Book a free 30-minute diagnostic call with me.
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So be fearless and I look forward to seeing you on the Fearless Business Coaching Programme.
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