I recently read this article: Why Small Businesses Fail to Grow by Jay Goltz. In it, Goltz gives ten undeniable reasons why small businesses fail to grow. But as I read through each one I couldn’t help but think one MAJOR reason had been left off the list.
Growing your business requires that you not only stay ahead of the curve, market consistently, invest regularly, and lead actively, but it also requires that you have absolute clarity about how you make money.
You might be thinking, “Yeah, Marlee, everyone knows that.” And most entrepreneurs do. The problem is there is a difference between what you know you should have and what you actually have. And the number of entrepreneurs struggling to grow or start a business without absolute clarity is staggering.
And what’s worse is that it’s killing them. It’s killing the potential of their business, it’s killing their revenues, and for many of them it’s killing their lifelong dreams.
It’s easy to get “all over the place” in your business. But “getting all over the place” in your business is also the fastest way to getting no place long-term.
Boosting Your Bottom Line and Growing Towards Success
Having clarity about your business is a foundational principle. You have to know the how, what, why, when, and where with painful precision before you can move forward, and roll with the unexpected changes you will face in your business.
And the first area where you need clarity in is how you PROFIT.
Paving a Clear Path to Profits
Being clear about profit in your business means you need to know exactly who you serve, how you serve them best, what value you provide to them, and whether or not the people you are trying to serve actually want what you’re offering to begin with.
Most entrepreneurs can’t answer these questions with confidence and ease. Most entrepreneurs aren’t sure exactly who they are trying to reach. Most are not sure exactly which business model is best for serving them. Most are not sure if what they are offering is really desired to being with!
When you’re operating a business with that many unknowns you are bound to run aground (if you get off the ground at all).
How to Get the Clarity You Need
Part of the reason clarity is such a problem for so many entrepreneurs is because they don’t take the time to ask themselves the right questions.
And if they do, they are often too close to their businesses to see them as their prospects would see them.
Here’s the thing. As your business grows it’s unlikely it will be anything like what it started. That is the beauty of growth. But it can’t grow unless you know what you’re trying to achieve and HOW. It’s a paradox, but it makes things fun.
Getting Started With Greater Clarity
If you’re serious about growing your business and your bottom line you’ve got to get clarity. It’s a foundational principle that will cause you to falter if it’s not well established.
So here a several questions you can ask yourself to get you started on a clearer path to profits:
1. Why do you do what you do?
2. Who do you want to serve with what you do? Why?
3. Where do you like to do what you do? (e.g. office setting, from home, traveling, etc.)
4. What do you do that provides the most value to your customer? (What emotional benefit do they receive? What actual benefit do they receive?)
5. How do your customers receive that benefit? (i.e. through a product, online service, in-person service, etc.)
6. Who is already selling what you’re offering (or something similar)?
7. Who is already buying what you’re offering (or something similar)?
8. Where can you find your ideal customer?
9. How will you reach people like this?
10. What will you offer your ideal customer so they become paying clients, and will want to pay for this?
Take some time to thoroughly answer these questions. Once you can answer all of them confidently and with ease – you’ll have the clarity you need to push on and grow your business.
Should you find yourself stumped, you might need some practical insight on how to get the answers to those questions. And you might want to click here and check out this business building workshop designed to help entrepreneurs establish the clarity they need to build a business that grows and flourishes.
At this time, there are only 10 seats left, so click here to check it out now if you’re interested.
Let me leave you with this. The other day I talked to an entrepreneur struggling more than anyone I’ve encountered in a long time. She’s been selling her product for over a year and hasn’t made ONE sale.
Needless to say…she’s discouraged. When I started asking her some questions (similar to those listed above) I was shocked at how few she could answer – EVEN ABOUT HER OWN PRODUCT!
It took less than five minutes to see why she hadn’t sold a thing. She has ZERO clarity about her business. She’s got EVERYTHING you’d need to execute, but has no idea how to execute with precision. With over $100,000 invested in her endeavor she’s still got little to show for it…all for lack of one tiny word…CLARITY.
How will you start establishing more clarity in your business today?