Don’t let these ‘terrible 10’ mistakes sabotage your success
Tuesday, March 05, 2019
In today’s competitive business environment, it’s vital for business owners to recognize the most common roadblocks to their success.
Every year these obstacles derail too many small to mid-sized companies too often. At best, these issues create temporary detours. At worst, they can be career killers.
Here’s a "terrible 10" list of success saboteurs, and some tips on how to overcome them:
1. Playing the same game.
Too many companies play "follow the leader" when it comes to selling strategies, social networking, fees and other fundamentals, and their bottom line suffers as a result.
Copycats inevitably fall short. Differentiate your company by developing your "only" branding phrase, as in, "We’re the area’s only company that offers…"
2. Fishing for minnows instead of marlins.
Thinking small and aiming low is no way to build a client base. It takes no more — and sometimes less — effort to connect with high-caliber clients. Attach value to your brand and charge accordingly, and you’ll attract promising prospects. Don’t, and you won’t.
3. Giving away your time.
Offering some free advice is commendable, but lending out too much time diminishes the value of who you are and what you do. The most financially successful companies bill for all of their time, all of the time.
4. Saying "yes" when you should say "no."
You can waste a whole lot of time and energy doing the wrong jobs for the wrong clients. Maintain a laser beam focus on your major goals and ideal market, and steer clear of projects that will throw you off course.
5. Majoring in minors.
Time is money, and you can waste a lot of both on activities that don’t generate the kind of sales your company needs to achieve its financial goals. Start each day with an "MVP List," spelling out for yourself and your team the most valuable and productive use of your time.
6. Leaving $$$ on the table.
Do you customers know all that you do, and can do? If not, you’re destined for more "one and done" assignments rather than ongoing relationships. Inform prospects about all of your services, and be prepared to recommend a "next step" for every project.
7. Thinking your work sells itself.
At a time when competition has never been keener, lots of companies do good work. First and foremost, you’re not selling your services, you’re selling yourselves.
Promote yourselves as if your business, careers and futures depend upon it. You know what? They do.
8. Bogus bios and wimpy websites.
Poorly written promotional profiles and website content can disqualify rather than qualify your company for the kind of clients you want and need.
Your bios are your most vital, valuable and versatile personal marketing tools. And your website represents, for better or worse, your online identity. Write them right, or hire someone to do that for you.
9. Charging too little.
The only one preventing you from setting and getting substantially higher fees may be you. The objections that may result from raising your rates could turn into opportunities.
Companies that encounter price objections have a 30 percent higher chance of closing deals. Why? Because prospects have to be somewhat interested to even ask about your price.
10. Go it alone.
Business owners who attempt to "do it all" ask for trouble. Do what you do best, and delegate the rest. When it comes to marketing, there is strength in numbers. Reach out to allied professionals, and work out cooperative marketing deals with noncompeting companies.
Don’t let these “saboteurs” short circuit your success in coming months. Take stock, take charge and take action to steer clear all too common mistakes.
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