The two reasons why 95% of business fail (and they are centered around 1 concept)
I was a bit testy the other evening when I was talking to a group of friends about why businesses fail. They came up with some really elaborate explanations of why businesses were failing: Not using social media effectively, the economy, not enough capital, too much to do, etc. For some reason I came over the top in the conversation to say the two reasons that businesses fail:
- They don’t generate enough leads
- They don’t close enough leads they generate
Keep it simple! If you look at many of the SBA’s reasons of why businesses fail, they can be centered around those two principles. It’s not exactly rocket science, though how companies go about solving the problems (xyz posts on Facebook, fix this on the website, etc) which create businesses that can’t sell stuff, and worse, crush the dreams of owners who are out searching for a better life and freedom.
Lets stop the madness!
If you own a business and are great at these two skills, you’ll never be broke:
Copywriting (salesmanship in print) – If you aren’t generating enough leads and you understand your market and are spending money on advertising, you have an issue with copywriting. Writing good copy is not easy because you need to understand customer empathy to a T and write messages carefully crafted to help the prospect not only think that you can help them, but also help them understand they are capable.
Sales – But not the hard-core used car salesman approach. The sales approach and style has to absolute mirror the information you are sharing in copy (That’s a 50K lesson in that last sentence). Your sales cycle has to match customer empathy models and be focused on helping the prospect move forward.
Success can be very easy if you master the above approach. We’ve turned 100’s companies around who were struggling with those two skill-sets very quickly because it fits specifically into our companies wheel-house so to speak.
Thanks for reading, and looking forward to writing more articles for you soon.
P.S: Are you struggling with sales and marketing and need some guidance? If so, fill out the form on the right for a complimentary coaching session. We’ll talk about some quick fixes you can make to your sales and marketing approach to help you make more money right away. If it makes sense as well, we can talk about how we can work together. Have no fear of this being a hardcore sales pitch. It will be 60 minutes of us doing the most we can to help you.