Eight Common Frustrations For Business Owners—Which Do You Want To Overcome?
After 3 years working with over 350 business owners, I've seen just about everything, and you start to recognise the patterns. 8 common challenges just come up again and again. Take 60 seconds to look and see how many of these apply to you…
- You work too hard to get new business. This is normally because your marketing sucks or is inconsistent. “I tried , once and didn’t get any response”. You pray that “word of mouth” picks up quickly.
- You don’t know your financials. You wait for your accountant or bookkeeper to tell you what’s going on once a year, months after the horse has bolted. And that’s if your accountant or bookkeeper even has time to explain it to them. You don’t know they were out of money until the bank account balance was bare and then hit panic stations when your BAS is due.
- You don’t know your numbers. You don’t know how much business you should be doing weekly to cover your costs. You don’t know whether you’re winning or losing more business than last month. You discover that times are tough too late to do anything about it.
- You lose sales without even knowing why. “I’m not a salesperson”, “I don’t like to pressure anyone.” You don’t realize that some tiny changes can make big differences in helping people use your services and products. You’re terrified of speaking to new business prospects unintroduced.
- You have no time. You spend their time on areas that don’t add value to your business. You don’t to realize that the smaller the business is that the more your personal productivity is linked to your profit.
- You have ‘People Problems’. You are running around afraid to employ people because of the cost, the time to train team and the fact that you don’t know how to manage them without standing over them.
- You can’t clearly see a path to profit. You can’t see why you’re are going through all this stress and can’t see a way forward. You have no plan to improve the situation and end up running out of steam or become stale.
Whose Fault Is It When Business Owners Have These Challenges?
It’s not your fault. No-one ever taught you the best ways to tackle these challenges. No one taught you how to be a great business owner—just a great technician in their business. Why? Because you are told that if you’re great at what you do, everything else will fall into place—but you and I both know that just being the best doesn’t guarantee that you get the most business anymore.
It’s easy for business owners to get stuck in a rut, to keep doing things the same old way or tackle problems the same old way. Most business owners have no one to hold them to account, No one to demand and expect a better performance, and so they get lax and never get their business to perform at its true potential.
You don’t have to settle for a business that operates at less than its potential. I believe that you should get what you wanted when you started you business. That your goals should be fulfilled for both you and your family. That you take the risk then you get the reward. That you are in control of your business. That you get the best you can out of your business. That you deserve to know both you and your business are working at your true potential.
As your coach, I have one purpose and one purpose only: I am here to help you win.
