Smart people learn from their mistakes, wise people learn from everyone else’s – Brad Sugars
If you’re a business owner, there’s a good chance you feel your business is out of control. You may be working too many hours, have employee issues or just not getting the money to the bottom line. Let me share 4 reasons why this is the case…
- You don’t know what’s going on. Many business owners struggle to get financial data on a timely basis. It’s not unusual to get final accounts months after the closing. This means you never know what your true performance is and can’t make adjustments quickly. But even if you do get financials, you probably don’t have good information about things like productivity, lead generation, conversion rate or customer behavior. I call that Mastery and you need it to be in control.
- You don’t know what works. You throw money at marketing and you hope it sticks, but you don’t know how to test and measure your marketing programs. You don’t know where your business comes from or why it came. You don’t have clear strategies for growth and don’t step away from your business regularly to evaluate and plan. I call this Niche and you need it to make money.
- You do everything yourself. Everything’s in your head. You don’t trust others to do things as well or as fast as you. You don’t have written procedures or manuals. All questions come to you because your Team is afraid to make the decision. Your business depends on you for at least one key function. I call this Leverage and you need it to stay sane.
- You can’t find good people. They come to work and do what you tell them. They have no loyalty, no enthusiasm. They’d switch jobs for a buck an hour more. You can’t trust them and you don’t think you can find good people. I call this Team and you will never succeed until you learn how to build one. There’s 6 keys to a winning team, but it’s up to you to implement them.
BONUS 5th Reason: You don’t have a Coach. You need someone who doesn’t work for you, isn’t married to you and doesn’t loan you money to discuss, brainstorm and dream with. Someone who’ll challenge you but not turn on you. Someone like me.