If your business is growing slowly, There’s one thing you need to understand.
It’s not the fault of the industry you are in. Or the economy. Or the time of year. Or even what your competitors are doing.
The problem is you.
Now don’t get me wrong. I’m not saying each of those elements are not factors in your success. But the reality is there are other entrepreneurs in your industry that are experiencing some or all of these issues, but they are still growing their companies fast
So the first step is to look in the mirror and accept personal responsibility for your results. And the second step is to clearly identify and fix the issues, so you can start growing again.
When I coach entrepreneurs, I like to start by asking a series of questions to identify the weak points in how they are running their companies.
In today’s blog I’ll give you 3 of these questions to ask yourself.
Spend just 3 minutes on each question- don’t overthink it. And in under 10 minutes you will have a much better idea about what you should do next to grow your company’s revenue fast.
Do you have a successful, systematic marketing system to bring in leads?
If you’re relying on referrals, your revenue will always be up and down and you will spend a lot of time this year being stressed about it. You must supplement business from referrals with an organized marketing system.
Do you spend a meaningful amount of time each week on your own marketing?
Some people have a marketing system, but they just don’t consistently dedicate enough time to running it. You can have a $2 million Bugatti sports car in your garage, but if you don’t get in it and drive, you will be beaten to your destination by any Toyota Corolla. If finding new revenue is something you do only when you have some spare time, low growth is virtually certain.
Are you regularly refining and improving that system?
Perhaps you have a marketing system and it’s going okay, even pretty well. But if you don’t work on improving your results, you are leaving literally millions of dollars of potential revenue on the table.
I have often seen entrepreneurs double or even triple their results by making minor tweaks to their marketing efforts.
For now, these are the most important questions to ask yourself.
One last thing:
When you get the answers, do something immediately to start addressing the main weak point you identify. Literally in the 30 minutes afterward.
Momentum is a powerful thing. And your revenue growth is a far too important issue to leave to another day.