Building any type of business is not easy… if it was everybody would be doing it and success would not come with the financial and spiritual rewards it brings. Pushing through the tough stuff is what makes the difference between the Entrepreneurs and the Wantrapeneurs.
So on your journey of development and growth you’ll need to look out for these potential Roadblocks…that can Stall your Sales, Plateau your Profits and Destroy your Dreams!
1. Not Knowing your IDEAL BUYING Customer – Sounds simple but so many business owners just don’t have enough clarity or detail on the identity of their ideal buyer so they waste money marketing to people who will never buy their product or service. Remember that a “buyer is a buyer and a non buyer is always a non buyer” as Dan Kennedy has said. Take time to evaluate who exactly is buying your products or services and then start looking for ways to find them in large quantities…
2. Not Investing in Scalable SYSTEMS – As I often say to my Coaching Clients if it’s not Scalable your business is not Sale-able should you wish to sell it. Under investment in IT Systems, Sales and Marketing Systems, Delivery Systems or HR & Recruitment Systems will catch up with you and cause your business growth to stop in it’s tracks. Start investing now to build Assets in Systems and Cash always follows Assets and will accelerate your growth going forward.
3. Recruiting the WRONG Talent into Your Team – Yes, as you build your business you’ll need help from other people and not hiring the right talent at the right time can be fatal to your Growth. This is why I am a big fan of Talent Dynamics as part of your recruitment systems to make sure that you attract the right people who will be in “Flow” in the role so you get the most from them and they love getting up and going to work ever day. Not getting professional help when you recruit your team is in my view a huge mistake that costs businesses more time, energy and money than they ever realise until they get it wrong and have to deal with the fall out. It starts by knowing your own Talent profile so you understand who you need around you to magnify your value
4. Lack of a Blue Ocean STRATEGY – As the saying goes “Hope is not a Strategy” and neither does it work for driving growth in your business. You need a clearly defined Strategic Plan that knows where the Blue Oceans are, how to tap into them and what to sell them. Without this your growth will stop as your market becomes more competitive, crowded and red with volume based price competition.
5. Not Developing Your Business and Leadership SKILLS – There is no way around it, as the Leader in your business it will only grow to the levels of your personal skills. As author of the book Jab Jab Jab Hook Gary Vanderbeck says, “If your company is growing 30% a year, you have to be 30% better by this time next year”. Failing to invest in YOU will lead to challenges in Focus, Finances and Future growth. People often ask me what is the key to the success of my coaching clients and it’s a matter of their mind set…they realise that the hidden key to Growth is to Keep Investing in Yourself until you reach your Growth Goals.
Not investing in YOU is a road block if ever there was one. So if you’d like my help to Jump Start Your Business to the next level then just get in touch. I’ve currently got openings for just a few new clients to help them propel their business forward. Will you be one of them? Just email me at julia@businesshorsepower.com and let’s have a chat to see if we are a great fit for each other.
Julia Felton (aka The Business Wrangler) is the founder of Business HorsePower. Business leaders, entrepreneurs and executives hire her to accelerate their business performance by harnessing the energy of their people to work more collaboratively together. By aligning purpose with actions the team achieves exponential results as everyone starts pulling in the same direction.
Julia believes that business is a force for good and through designing purpose-driven businesses that leverage the laws of nature, and the herd, you can create businesses founded on the principles of connection, collaboration and community that make a significant impact in the world.
