As a business owner, you know you have to do a little bit of everything. You have to take care of marketing, advertising, writing, and so much more. But your time is a definite resource, and you feel like chasing your tail. And you cannot stop the feeling that you are trading time for money.
Even worse for some, when you check how many hours you put in each day versus how much you brought it, you’ll find that you may even be earning less than minimum wage without knowing it.
Why is that happening, and how to shift your mindset from 9-5er, which is trading time for money? What’s the difference between businesses that fail and ones that thrive?
This blog post will provide answers to those questions. I will also give you the top 3 reasons why your business has lost its momentum and is getting nowhere and the five steps on how to shift that reality and make a massive leap towards growth.
If your business is just surviving or the bottom line is not what you want it to be, then keep reading. I have a solution that can fundamentally change the way you are doing business!
How is your business doing?
First things, first. Let’s be honest here – how is your business going?
If you are spending most of your day on marketing that doesn’t work and a pile of admin you have no interest in because you can’t afford to outsource those tasks, then you have to change something (hint: your mindset).
Because at the end of the day, you have almost no time to handle the part of the business you actually enjoy (and is making you money).
You know the Pareto rule: 80% of your outcomes come from 20% of your actions. This means that 80% of your business’s money comes from that 20% of tasks you do.
And do you actually have time to focus on that 20% of activities that you LOVE doing, or are you spinning your wheels and doing whatever it takes to make sure that your business survived this month?
Surely, that’s not why you started your business, right?
When you started your business, you were PASSIONATE about it. You were excited about the idea of doing what you’re good at and having the freedom of being your own boss.
Your business is your baby, and you love your baby. But when your baby is your work, you tend to nurture it too much. Then, you find it hard to turn your brain off from work, and you don’t give yourself breaks or any self-care. You get exhausted, tired, and demotivated.
Your tasks start draining your energy rather than igniting your passion. But wait, didn’t you leave your 9-5 job to stop feeling that way?
If you are nodding your head, then let’s see the top three reasons that got you here and how you can make a massive leap towards growth (versus mere survival).
The top 3 reasons your business is surviving
You lack clarity, so you’re spending too much time customizing services and proposals.
Let me tell you something: no matter what business hardships you are experiencing, clarity is the cause. Clarity is like your business compass. Getting crystal clear on why you are doing your business and who you serve will help you build an irresistible offer that your ideal client cannot refuse to take.
And being crystal clear about where you are right now, where you want to be and how you want to get there is the shortest way to attain your business goals.
One struggle that I see all of the time is that entrepreneurs are all over the place. They bounce back from here to there and back again.
And when there are hundreds of things to do, your focus might shift to what needs to get done. And this is the moment when you need to change your mindset and stop thinking like a 9-5er!
Start thinking like a CEO. Get crystal clear on your strategy and how it all connects together. Then, map out the tactics and take action. Your business cannot grow unless you are crystal clear on where you are heading.
- You’re offering too many services because you think saying YES to anyone who can pay is the way to grow your business.
Did you know that giving customers too many choices can lead to overwhelm, inaction, and fewer (if any) sales? It is true – having too many options is NOT good for your customers.
Even it might sound contra logical, here is the marketing study that proves my point:
The Columbia University Professor Sheena Iyengar and her team set up shop outside of an upscale grocery store in Menlo Park, CA, to observe the impact of more choices on sales.
“During the time periods when 24 flavors were offered, 60% of people stopped to sample the jams, compared to 40% when only 6 flavors were offered.1”
This makes sense as we tend to believe that we need MORE, and we are attracted by such. BUT… The real question here is which group purchased more (because, as you know, if it doesn’t add to the bottom line, then it doesn’t make sense!)
Of the customers who sampled 24 flavors, only 3% purchased. And of the customers that sampled 6 flavors, 30% purchased!
Stop and think for a second! On which table would you prefer your offer to be? The one with fewer flavors, right? Because it does not matter how many prospects have checked the offer you provide, but how many have actually PURCHASED it!
As you can see, this is a paradox to the common belief that too many choices are what your customer needs!
So, reduce your services and stop offering too many offers if you want to avoid apathy and inaction for what you are offering.
- You attract low-quality clients who are just price shopping.
Low-quality clients suck. They make unreasonable demands for the amount of work they want to be done and the deadlines they set. And they seek to pay you as little as possible.
If you are dealing with such client/s, you have to stop (and you have to do it asap)! Remember: NOT any business is a good business!
You don’t need all of the customers entering your door – you only need the high-value clients, which are making a positive impact on you and your business.
Because low-value clients lead to more low-value clients (just as working with high-value clients leads to more high-value clients). Remember – what you focus on grows.
And if you think you cannot be choosy, wait to see the long term cost for not being choosy enough. So, build the right foundation for your business and intentionally choose great clients.
5 easy steps on making the leap from survival to growth
If any of the above signs sound familiar to you, here is how to shift your business reality in 5 easy steps:
- Create an irresistible offer (Remember we talked about clarity? Once you are crystal clear on your ideal client, you can easily build that irresistible offer).
- Create a great brand positioning, so you are perceived as the go-to expert in your field.
- Create magnetic marketing that attracts ideal clients.
- Create a good sales strategy so you can nail those client calls.
And once you have these in place, you can finally automate and systemize your business and marketing so you can scale while ditching the overwhelm.
It might sound too easy to be true, but it is. And I have a proven formula that works.
How a graduate made 15k in month one, using my success formula?
I recently took on the challenge of setting up a new business from scratch, applying my business success formula. I then delegated the business to a new graduate to manage with a target of $10,000/month in revenue while only working for a couple of hours each day.
She achieved $15,000 in month one and successfully proved that my business success formula could work for anyone who puts their mind to it – with or without experience or the so-called entrepreneurial traits.
You have two choices here.
On the one hand… You can let your business be the way it is: without hitting your goals, making money, finding clients, and really having a business that is just surviving.
On the other hand… You could CHOOSE to do things differently.
You could be waking up to new leads sliding into your DMs, asking how you can help them.
You could be waking up and see that your calendar is filled with sales calls.
You could be waking up to Stripe notifications of new payments dropped into your bank account (and I’m not talking about the mere $97 payments, I’m talking about the $10K-15K paid in full ones!).
This option is where your business is not surviving anymore; it’s actually thriving.
This second option is totally available to you.
If you’re serious about a real transformation in your business, I’m happy to show you how I’ve successfully implemented this in my business. Book my FREE 10K months game plan strategy call session HERE, and let’s talk about how I can help your business grow!
So what is going to be – survival or growth? If you say growth, go ahead and book your FREE 10K months game plan’ strategy call session HERE! I will be honored to walk this journey with you!