New businesses have a tendency to see only the positive aspect. If I can make $50 an hour, or $100,000 a year. The issue is, most of them don’t take the time to develop the process.
What is the process?
You don’t just open a business and have clients breaking down the door to buy your products. You have to find those clients. And finding these clients is a process you have to get very familiar with. Otherwise, your business is not going to survive.
What makes most businesses fail?
Most businesses would say, that the problem is cash flow. But few would admit that They don’t have a steady process for getting new clients. No clients stream, no cash flow. It’s the same as saying my house is sinking, and totally neglecting the fact that it’s built on quicksand.
We are looking for what caused the symptoms so we can repair them. I recently wrote a post on how to calculate your sales funnel. That is how I achieve my goals. We all know that we fall short when we set goals, that’s why I overshoot mine.
Another common mistake businesses make, is not knowing who their client is. Let’s say you’re a plumber, your client isn’t that person calling you at the last moment because one of his pipes burst. Your client is somebody renovating their home, or a contractor building an apartment building.
Just this focus can have you running in the wrong direction, spending way too much money in advertising, and making next to nothing as an income. You have to calculate where you make most of your money and aim for those clients.