Starting a business is no easy task and to ensure that your business is on the incline refrain from doing the following.
Reason #1 No Plan
This is the one of the main reasons why an entrepreneur doesn’t experience growth in their business, they don’t have a plan in place and not having a plan simply means having no direction.
The reason for having a plan is to know what is working and what needs to be changed. Having a plan for your business is not set in stone, changes can be made along the way.
I’m sure by now you have heard of having SMART goals in your business and it just makes sense, without goals you have no measuring stick to know when and how you’ve reached them.
What do you want to achieve in your business?
- Build an email list of how many people?
- Have how many people join your Facebook Group
- Have how many clients buy your products and services
- Reach a dollar amount by a certain date or quarter
This is what goal setting does: it helps you to put an action plan in place so you can track what actions performed well and what needs to be changed.
Reason # 2 No Discipline
Being in business means being committed to the process until the business begins to gain exposure to your target audience. This is where most entrepreneurs lose heart, they start out with a lot of zeal and inspiration.
Showing up when you feel inspired is not going to move your business forward, this is why it is important to have systems in place so you can create enough content/material to schedule out over the course of a period of time.
Doing the daily mundane task in business can begin to frustrate and cause you to slack off because you don’t see your efforts paying off.
As an entrepreneur you have to stay consistent with your business until you see the momentum build in your business, people are watching even if they aren’t commenting or sharing.
This is why having a plan in place is so important, you plan to create the content that resonates with your audience so when something is going on in your personal life and you need that down time, your goal setting and planning has you still showing up consistently.
Most consumers have become very shrewd before trying out a service or a product, they want to see how consistent the business is before making the decision to buy, and this is why it is important to develop consistency and discipline in your business.
How you develop these attributes begins with not putting more on your plate than you can handle. I know some internet guru’s will tell you to be on every platform, however if that’s not something you can keep up with, then you need to stick to 1-2 platforms and master them.
The goal in business is to do what works for you, I’m not saying don’t challenge yourself but I am saying know what you are capable of producing and deliver it with a spirit of excellence.
Reason #3 Procrastination
The key to overcoming procrastination in your business is to do the tasks when you have the most energy, if the tasks take time to accomplish break them into smaller tasks so you can be motivated to see progress is taking place.
If you have an entrepreneur friend or an accountability partner try helping each other out with switching tasks with them so this way each party wins. If you love graphic design but hate research and editing and they love it then agree to do some graphics for them in exchange for them doing the tasks that you’re not a fan of.
Reason #4 Don’t Ask For Help
I can hear the questions already, (but the questions I have they want me to join a master-mind or course that I can’t afford)
I hear where coaches say I’m not letting you pick my brain and have no intention of hiring me in the end.
Here is the process when it comes to asking questions to certain business coaches
Coach A: coach says that I will give you some solutions to your problem but if you want to know the process then you need to join the course or master mind or book a session.
Coach B: says I will give you the strategy, however I have a system that if you use it, it will help you gain more clients.
The bottom line is both coaches have something to offer their client in the form of a solution, however one coach offers free content that gets results, where the other coach tells you what the problem is but you have to make a commitment to get the solution.
Coach C: Says here is the strategy and the solution and the process in how to do it. So what is different about coach c giving away the goods without asking for a commitment.
Coach C is creating value through giving out content on what it takes to grow and scale a business, but their main source of income is coming through other business ventures so they capitalize on giving great value in another market where the consumer will most likely become a committed customer via their other business ventures..
Regardless of what coach you choose to follow or hire for your business remember you are investing in your business and you need to ask for help or seek it out so you can grow and scale your business.
Reason #5 Mindset Issues
Believe it or not but your mindset is running your business how you think, how you approach your business each day or not, how you price your products and services all speaks to mindset issues.
Entrepreneurs who are successful have to overcome their own mindset issues to see their business grow and if you are dealing with mindset issues you have to overcome them if you desire to see your business succeed as well.
This is an area I once struggled with and at times it can still creep up in the form of overthinking as well as procrastination, at times I have to journal and get out of my own way and not think about what is not perfect and continue to learn as I grow as an entrepreneur.
Reason # 6 Not having A Solid Business Model
When it comes to having a business model in place most entrepreneurs are clueless on how the business will make money and what type of business model will be profitable, there are many business models out there but what is the model that will fit your business.
Netflix, Verizon and T-Mobile are all in the monthly membership business model and many businesses are following suit. I have noticed where there was once an option to purchase software tools outright has now turned into a subscription based business model.
As an entrepreneur you need to choose a business model that will bring you income on a recurring basis. I go into great detail with examples of some of the top businesses to show you how you can follow their examples.
Reason # 7 Not Knowing Your Customers Needs
When looking at some entrepreneurs’ social media accounts that may have many followers but not as many customers, it can be because you are not asking the questions that gives you the insight to create solutions to their problems.
Some entrepreneurs try to push products and services that their audience doesn’t need. When was the last time you polled your audience to find out what it is they would like more information about?
Being an entrepreneur isn’t easy, it takes hard-work and dedication and when you begin to sabotage your business growth by the reasons stated above then you need to ask yourself is this something that you are passionate about, if not there is no harm in changing course or direction.
Make a commitment that you will show up for yourself first so that you can show up for others, don’t allow what other entrepreneurs are doing stay true to yourself so you can grow and build a business that you love.