7 reasons why your business is failing and how to fix it
Owning your own business is awesome when it works, but it can also be frustrating when you don’t get the results you want. I’ve helped over 10,000 people to grow businesses. Often with no budget or time, often quadrupling profits in a short amount of time, so let’s look at 7 reasons why your business is failing and how to fix it
1. Relying on social.
Social media should be part of your marketing strategy, not it’s entirety. Imagine Facebook disappeared tomorrow, what would you do? I often find business owners pouring tons of time (and money) into social media but without altering the next 6 fails they will fail to make it work. Social media is reliant on you doing something — either physically adding content and/or spending money. Consider blogging works 24/7 and is evergreen marketing — i.e., it works when you aren’t.
This graphic is not the prettiest, but it sums up how you need to think about marketing — what 8 to 10 tools will you use?
2. Not really knowing your audience and why they buy from you
When you start a business it’s great when people are buying, but if you don’t know the science behind why people buy you are missing out on the opportunity to get people buying often with little input from you. All of my clients can tell you where they met their clients, what issues their clients have, where they like to shop, even what TV shows they like and what car they are likely to drive. Knowing this information is essential. When I teach people how to blog or communicate to sell, I teach them how to find the power words and the power sentences. These are the powerful hooks that make people want to learn more.
3. Not keeping an eye on the competition, trends, consumers.
If you can’t tell me what your competition are charging, what they are selling and how they are getting to their customers, you are missing a trick. If you can’t tell me whether your customers are using Tik Tok or Facebook, real books or electronic…