Are you a small business own wondering why you’re not succeeding in your business? Does this sound familiar?-
Your sales are lacking. You feel stuck. You are passionate about working for yourself and about your product but feel like there’s nothing more you can do.
How do you get out of the slump? Should you just give up?
There are many good reasons to start a business, and there are many good reasons to get out of a business.
But a lot of times our lack of success is explained away by illegitimate excuses.
Here are 6 of those excuses for not succeeding in your business.
“I’m too shy.”
You may explain your lack of success as a result of your own lack of pushiness, or some other aspect of your personality. You don’t feel like you know how to sell.
Maybe you feel uncomfortable talking to strangers. Maybe you aren’t assertive by nature.
But none of this is reason enough for your business’s lack of success.
It’s true that a quiet personality may be a challenge to sales in some ways. But if you care enough about your business and your product you will step out of yourself and your comfort zone. You will do what it takes to overcome any timidness and fight for your business.
You don’t have to move a mountain right away. You can start small – Make it a goal to talk to 3 strangers a day for a period of time, for example. Your nervousness may not go away but when you tackle things in small increments it becomes easier to get motivated.
“My competitors are underpriced.”
Many consumers are driven by price, so if you have a lot of competitors that are less expensive than you it can be hard to find a way to convince them to choose you instead.
Sometimes you might even secretly think, “I would go with the cheaper option to if I were them.”
If this is what you think, then you should do some serious reevaluation of your product. Don’t compete on price if you can avoid it, but rather make your product/service as valuable as you can so that people are willing to fork out a little bit extra.
Listen to your customers, find out what they need, and provide it to them.
The funny thing is that often people are actually more willing to pay for more expensive options. Consumers often believe that if a product is priced low then it must be low quality.
So don’t be afraid to price your product high, but make sure it’s worth the cost.
“The market is oversaturated.”
You may feel like there are too many competitors selling a similar product or service so it’s hard to find enough customers.
If this truly is the case then you need to find some way to stand out.
Even if your product is exactly the same as your competitors, you can stand out in other ways, such as customer service, customizability, availability, reliability, responsiveness, etc.
Find some way to set yourself apart from the competition and pour yourself into that defining feature.
“I don’t have time.”
You may realize what work needs to be done for succeeding in your business but you feel like you don’t have the time to put the effort in.
Budgeting time is tough. You do have to make choices about what is most important to you.
One thing to keep in mind is that investing a lot of time in the beginning may result in fewer required hours in the long run.
But if you’re really struggling with how much time to put into your business, you can also consider outsourcing. In other words, you don’t have to do everything yourself!
You can hire additional employees or pay for third party services to handle things you don’t have time for. It may cost upfront but the savings to your sanity could reap long-term benefits.
Not to mention the time you save not having to do the things you don’t want to do could allow you to invest more into the aspects of your business that you really enjoy.
“I can’t get people to pay their invoices.”
Sometimes businesses fail simply because customers won’t pay for services that have been provided. After all, succeeding in your business means receiving revenue for services rendered!
If you’re running into this issue, one simple solution is to require payment upfront. If people seem hesitant, you can offer a generous moneyback guarantee to help ease their minds.
You also want to have a good dunning (i.e. collection) process. You can use a service such as Customer.io to set up automatic email and text campaigns for when people don’t pay their invoices. You can also follow up with people by phone to gently remind them to pay or to get feedback on why they’re not paying.
“There is not enough interest in my product.”
If you are passionate about your product and believe in its value, odds are there are people out there who would feel the same way.
It’s up to you to find these people and sell to them – Find their pain points and show them how your product can solve them.
And if you truly can’t find enough interest, then it may be time to revamp your product to turn it into something truly valuable to consumers.
The key is to find out what people want, and then give it to them!
It’s true that sometimes luck is against you and you may find yourself in a position where you want or need to call it quits. If this is the case, don’t beat yourself up about it!
But succeeding in your business doesn’t come by accident. It takes a lot of hard work and dedication! Are you up to the challenge?
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