- Not Beginning with the End in Mind
Are you creating your business out of love for what you do?
Do you believe that passion is a fundamental quality for success?
Or are you a freedom seeker, wanting to be free from the shackles of the corporate experience?
Or are you seeking to build a legacy business for generations to come?
Whatever is your why and your purpose for having/creating your business, have the end in mind.
Build it right from day one.
- Not Having A Business Plan
Your business plan will create clarity around the steps required to achieve your goals.
It will create an action plan and allow you to track and tweak your progress by measuring your actual results.
The gap between your plan and actual performance will allow you to focus your time and resources to have the most beneficial influence.
As Benjamin Franklin so elegantly said, “If you fail to plan, you are planning to fail.”
- Underplaying the Role of Marketing
Marketing is 50% of any business.
We all have a marketing and sales business in the service or product we provide to the marketplace.
If you have the mindset that you do not like to market or sell, I have an uncomfortable truth to share – get over it.
Invest in a mindset coach to clear up that limiting belief and in your sales and marketing abilities.
- Not Knowing and Understanding Who Your Ideal Customer Is
Do not be the business owner that wants to help everyone. It will dilute your marketing message and reduce your ability to convert sales.
Do not seek to sell ice to the Eskimo or a meat burger to vegetarians. They are not your ideal customers.
Create an ideal client avatar, the demographics and psychographics of who you want to serve.
Understand how and why your product/service will provide the absolute best solution to your ideal client problems.
- Not Having A Continuous Improvement Process
We are transferring from the industrial age to the digital age.
Why, what, when and how businesses operate are challenged every day by new technologies, inventions, and apps.
A continuous improvement process will allow you to adapt and incorporate these changes to make the best use of your time and resources.
2% to 5% efficiency gains across your processes will compound in thousands if not tens of thousands to your bottom line.
- Not Keeping Score
Numbers in your business will reflect your performance.
“You can’t manage what you can’t measure.”
Your profitability is the measurement that dictates the health of your business.
Best to have a set of key performance indicators that give you a daily, weekly and monthly health check on what drives your profitability.
- Not Investing in Your Self Development And Your Ability
The formula for success equals Attitude X Effort X Ability.
Having a business is challenging, and we all have different sets of abilities. You may be great at financial literacy but not so good at marketing or vice versa.
Whatever the case may be for you, do not underplay the importance of enhancing and developing your abilities to have a profitable business.
The best investment you can make is in your education and, that is a lifelong process.
At Release For Life Business Coaching, our passion is to assist you to have the business you always dream of having and the lifestyle to go with it.
We make the process of implementing complicated ideas simple to understand and apply.
Our small business coaching offers a tailored one on one online delivery that is affordable in providing solutions for business owners seeking to experience less stress, more revenue, and more time to enjoy life and who are stuck on the how-to part.
Our Gift To Make A Difference
Our free business review will uncover $50,000 or more in additional revenue in your business in 45 minutes or less.
Imagine having that additional revenue.