3 Ways Business Owners Get Stuck and How to Break Free

On Monday of this week I listed the three ways business owners get stuck. As promised, today I will tell you how to break free!

3. They treat their business like it’s a job

Entrepreneurs that are just starting out and those that are struggling financially often take any piece of business that comes their way. Who can really blame them? After all, they need to do something to stay afloat, right? But here’s the thing: doing whatever it takes to earn money can end up hurting your business in the long-run. Between time spent figuring out how to deliver a great product/service outside of your realm of expertise, presenting a sub-par product/service may lead to closed business doors. Instead of using a slow time taking on any project a customer needs done, the savvy business owner take the time to strategize with their trusted advisors on the best way to get the right business in the door.  This past week, I was offered a consulting opportunity in Singapore.  While the gig was enticing, it was just a little bit outside my core expertise; and the client budget under my usual consideration.  Two red flags meant I had to turn it down, much as I hated to in the moment.

2. They never take a break

So many business owners feel like they can never take some time off – even if it’s just an hour away from their phone/computer! – They’re afraid they might miss out on an important opportunity. This is the quickest way for an entrepreneur to burn out. You likely became a business owner to be your own boss and make your own schedule, right? Then don’t be a slave to your work! You work to live, not the other way around. Schedule at least an hour a day to recharge your creative batteries, and as long as finances allow, be sure to take that much needed (and well-deserved!) vacation.

1. They stop marketing whenever they have sales

Close to 60% of all business owners only market their products/services when sales are down. And this is likely a time when they need to hold onto money! The successful business owner is constantly reinvesting money into the business, creating a steady stream of marketing messages during both the high and low times. By developing a systematic marketing plan that includes weekly marketing messages, you will maintain constant visibility among your target customers. This weekly message also allows you to continuously build trust and establish yourself as an industry leader.
Don’t let your business get stuck! Call me at 610.724.7869 to help you break free from these common mistakes and create long-term success for your business!

 

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