Read This If You Don’t Want Your Business To Die
If you’d like to have a business breakthrough instead of a business breakdown … regardless of your market, this is the most important letter you’ll read today.
But before we go any further, we need to get something straight.
Out of respect for your time, this letter is about scaling the profitability of your business…
However, usually when people hear “scaling” & “business” together, they associate it with adding more complexity to their business.
More team members……
More products and services….
That’s not what this letter is about.
The Hard Truths
It’s highly likely that you are a “small business” according to U.S Small Business Association.
Most of my clients fall under “Professional Services.”
You’re considered a mall businesses if we earn somewhere between 0 – 7.5 million.
Or up to 20 million and under 1,500 employees (depending on whatever wonky classification they assign to you).
According to the Bureau of Labor Statistics, the longer we stay in business the more likely we are to fail:
- 20% die within the 1st year
- 50% die within 5 years
- 70% die within 10 years
When you look at the published research as to why most small businesses fail you see 4 common themes:
- Running out of cash
- Quality of labor
- Pricing and cost issues
- Lack of demand
All of these reasons can be solved with streamlined operations and healthy profits.
How can that solve for a lack of demand?
Well, think about it for a second.
If you’ve been in business for any length of time you’ve probably had to “pivot” or adjust to market conditions.
What allows you to adjust to those conditions, weather the storms, and start new initiatives?
- Rock-solid systems
- Well-defined and documented processes
- A crazy good team
- Lots of profits to carry you through the ups and downs
The Symptoms of a Dying Business
You may be right at the edge of a breakthrough for your business or a breakdown.
Nobody wants a breakdown.
Maybe you even see being one of the 70% that will fail within 120 months on the horizon.
Here are the symptoms to look for:
- You have no processes in place or the ones you do have are “thrown together”
- The roles for your team members are ill-defined
- You have no contingency plans in place for when a star team member leaves
- You are unable to get out of the day to day operations
- Your marketing automations feel “glued” together and are not well-documented
- Reporting of key metrics needs improvement and better visibility
There’s a system for this.
We need to focus on the 4 “key areas” of your business operations.
You need to develop a systemized vision of how your business operates and then turn that into rock-solid and well-documented processes.
Implement automation where it make sense and keep it as simple as possible. Look, I know all about shiny object syndrome. I’ve been there.
Automations get unnecessarily complex due to a lack of vision. We use automations where they make sense but avoid “shoehorning” systems into specific tools.
Step 2 Continued..
As a quick aside, do you know who…on the whole…got the most wealthy during the Gold Rush of the 1800’s?
The people selling the tools to the miners. Not the miners. Think of that in the context of marketing automation today. So many tools! Most tools are unnecessary.
Remember, “as simple as possible.”
Ok, back to the treatment plan.
Have reporting in place that is easily accessible to key people so that important business metrics can be surfaced easily.
This should be as easy as checking your heart rate on an Apple Watch.
Build a killer team. Clearly define each role and the type of person best suited for each.
Leverage personality tests to make sure it’s the right fit. Have regular performance reviews in place to keep key team members engaged and happy.
You should involve your employees, especially the great ones, in the building out of your processes so you can avoid the dreaded “knowledge vacuum”.
When a top team member leaves, and they will, you’ll be glad their knowledge was documented so their replacement can step in and produce right away.
Interested in Working Together?
I feel your pain. I’ve been there, feeling overwhelmed with how to keep this life-changing business I built from facing the fate 70% of similar businesses face.
I offer a 10 week program that helps cure these symptoms, using the 4 steps I mentioned earlier.
It’s only for people who have a business up and running already with a working sales process in place.
It’s definitely not for everyone.
So if you have an existing business, with a sales process that works, I can help you scale your profits through streamlined operations so your business doesn’t die.
If you’re interested, let’s set up a time to talk ASAP.
I don’t want you to pay me a cent until we both agree that this is the best thing for you to do right now.
And there’s no way either one of us can really know that unless we talk and get to know each other.
I’ll have some questions for you, and you’ll have some questions for me.
If it feels like a good fit for both of us we can move forward, and if not that’s fine too. As long as you’re happy, I’m happy.
So with that said, click the button below and we’ll schedule a time to talk ASAP.