There’s a saying in Israel “if something doesn’t work with force use more force”, I can’t tell you how stupid that approach is. Especially for new business owners. Your business is an income stream, no more and no less. So if something you’re doing isn’t working or worse holding you back, stop.
Most new business owners take loans and use that money to jumpstart their business. The problem is that when you don’t have experience it’s hard to tell if what you’re doing is working. So throwing money at the issue won’t be the answer. If your conversion rate sucks throwing more money at the problem is not going to solve anything. You’re making more sales but you’re spending too much money on each of them.
Stop and do the math
If you don’t stop and do the math once in a while you won’t even know that something is wrong. The ostrich approach is not going to help you in business, burying your head in the sand is not going to make your problems go away. When you find something that doesn’t make sense follow it to its conclusion. Sometimes that means making hard decisions like letting someone go or discontinuing a product.
The problem is that most business owners never take the time to check if everything is running smoothly, and those who do have a hard time letting go of beliefs and old systems.
If something doesn’t work it’s most likely eating away at your bottom line. Your business is just an income stream if something is not working you have to get in the habit of stopping it ASAP. And if your business is not earning you money it’s worthless.