5 CRITICAL REASONS YOUR BUSINESS IS NOT GROWING
Luisa Ferrario
Teaching experienced business women to explode business growth through strategy & money activation ?? ?? Business Scale Strategist ?? 13k+ members Community leader ?? International Speaker ?? Ready to scale? ??
Join me and the growing number of 4,830+ ambitious female business owners in the engaged and vibrant?Facebook?Wealthier Women Entrepreneurs Community?(?? click here to join) to grow our businesses together. How exciting!!!
It's no secret that I've done a ton of things in the past 27 years as an entrepreneur that didn't turn into profitable businesses in my 10+ companies.
But I learned from each one of them. I took away lessons on what worked, what didn't, and why. I'm now in a place where I can use my experience to help others succeed in business.
As I am a huge list maker, here is one that I came up with:
5 CRITICAL REASONS YOUR BUSINESS IS NOT GROWING
(or "The?5 critical mistakes that as a small business owner you should avoid")
RED FLAG #1. Resisting Niche Picking. Resisting, avoiding, or rushing to pick your niche is the most common, costly, and fatal mistake you could make. A realistic and effective growth plan, as well as content and marketing strategies that drive traffic and sales, can't be created without a consciously-picked niche. This is because having a niche allows you to hone in on your target market and create content and services that are specifically tailored to their needs. It also allows you to create more effective marketing campaigns and more accurately measure your success. Without a niche, you risk wasting time and money on marketing efforts that don't reach the right people.
RED FLAG #2. Skipping Market Research: "Know your audience, ace your game otherwise your business is going to fail" (Wow, your coach can utter poetry. Hehe). By regularly conducting market research, you can ensure that your products, services, and marketing campaigns are tailored to the needs, challenges, aspirations, habits, ways of consuming what you offer, and specific language or jargon of your target audience, greatly increasing your chances of knowing them better than they know themselves and taking to them as if you were reading their mind and heart. This will 10x your success chances.
RED FLAG #3. Neglecting Customers' Needs & Desires: Neglecting your customers' needs and preferences can lead to frustrated, distracted clients and missed sales. When customers don't feel valued or heard, it can lead to a lack of trust and loyalty, which can significantly impact sales. Additionally, customers are more likely to purchase products and services that meet their needs and desires. It’s like a relationship between two people - without understanding each other’s needs, trust and loyalty break down, and eventually, the relationship comes to an end. Taking the time to understand each other and respond to each other's needs is essential to maintaining a successful and long-lasting relationship in life as in business. Taking the time to understand what customers are looking for, and responding to their needs, can result in increased revenue and customer satisfaction.
RED FLAG #4. Neglecting Customers' Needs & Desires. Ignoring your customers' language can lead to a manipulative sales approach, unsatisfied clients, and ruin your brand reputation. The relationship between business and customers is similar to that between a doctor and patient: the doctor needs to take the time to ask the patient questions, understand their symptoms, and provide the best treatment plan for their unique needs, while the patient trusts the doctor to provide an effective solution. Ignoring customers' language is like a doctor ignoring their patient's symptoms, resulting in an improper diagnosis and ineffective treatment plan. Paying attention to the language of your customers and tailoring your content creation and sales approach to their needs builds trust, creates loyal, satisfied customers, and ultimately results in a boost in business growth.
RED FLAG #5. Ignoring Social Listening. In today's digital era, effective social listening to approach your online presence is no longer optional—it's a necessity. Ignoring this can be a huge fall for your brand. For instance, understanding the kind of conversations happening when daily scrolling through your feed on social media you choose to grow your business is a huge advantage that makes you stand out in the tiny 2% of business owners using this indirect approach to tune in with their audience. You will grasp preferences, opinions, needs, or complaints your ideal client leaves in social media comments and discussions, and that will give you invaluable insight into how you can better serve them, and also help you stand out as a thought leader in your industry.
领英推荐
All these 5 mistakes have been part of my entrepreneurial journey, especially at the beginning.
Then, it got worse because my ego's arrogance, ignorance, and feeling of?shame were so big that they literally obstructed my vision. I could not see what next step to take.
By 2016 I knew what I had to do (and that's exactly what I did):
I learned the lessons.
I?created and?implemented for almost a decade?a proven step-by-step process, and now I know how easy and fast it can be?to help my?clients' businesses grow. It?works so well.
Why am I sharing?
I’m proud of you for working towards growing your business consistently?and not being afraid to do it wrong so that you’ll be able to get to your first $100K year very soon.?
I applaud you! Good for you!!
And if you feel inspired to follow my path, click on the picture and start here. I've created a very special FREE training just for you to walk you through the proven steps I took to get my first $100K in a year. I’ll show you how I achieved my first six-figure year so that you have a step-by-step path to accelerate to achieve yours as well (click on the picture to watch the training)??????
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Thanks for reading,
Your Marketing needs Empathy, Psychology & an Audience POV | Copywriter & Marketing Strategist for Mindful Coaches and Purpose-Driven Organizations | Lead-Generation | Email Marketing | Organic Content | Video Marketing
1 年Luisa Ferrario ?? Rebel Transformative Leader these are all such rich insights from your 27 year-old expertise and how generous of you to be sharing them with us! My personal favourites are: - Skipping Market Research - Ignoring Social Listening Hard to pick which ones irks me more but yes, they're relevant today also in the conversations I've had and the observations I make. Thanks a ton for sharing things like this!
Teaching experienced business women to explode business growth through strategy & money activation ?? ?? Business Scale Strategist ?? 13k+ members Community leader ?? International Speaker ?? Ready to scale? ??
1 年Thank you Hana Nasser, for spotting a typo. ?? RED FLAG #4 is actually "Underestimate Customers' Language"
?? Coaching leaders, rebels and activists to spark and sustain social change ?? Organisational Cycle-breaker ? Fostering cultures of collective flourishing
1 年Yes Luisa - never heard the term 'business whisperers' before, but it's been my experience too. A combination of solid proven advice, plus intuition, plus co-conspirators (whether hiring people, or building community), is what it's taken for my business to grow beyond my dreams this year. Social listening - gonna be doing more of this in the coming weeks, for sure.
I take you from Bright to Brilliance | Nurturing bold authenticity in female leaders to speak up and show up | Mindset & Leadership Coach
1 年Luisa Ferrario ?? Rebel Transformative Leader Great list. Love when you fired your ego - that takes true self awareness ??