How to Grow My Business When I Am Already Maxed out? Phase III Part II

Phase III part II – Challenges and Hindrances

In our last blog post, we talked about the hidden challenges that we all face with our emotions, attitudes, biases and our own ego. Pogo said it best when he said, “We have met the enemy and he is us!”

Challenges we see —

Now we turn to the many challenges that can easily overwhelm us if we let them.

There are so many that we should categorize them instead. Challenges in our business can be found in:

  1. Money — Cash flow or the lack of capital
  2. Employees – High turnover and low production
  3. Competition – from unfriendly competitors to downright nasty ones
  4. Market changes – customers, the economy, fads, and trends
  5. Management – communications, planning, or lack of, and decisions.

Missing the target

One of the biggest problems in addressing your challenge is mistaking a challenge or problem that is actually only a symptom. When you don’t address the cause of the challenge you can spend a lot of resources and feel good about some visible change, only to have the problem reoccur when you least expect it.

There is a process of consulting that helps management teams and others to push hard into finding root causes to problems and not just surface issues.

Money

Money is almost never the problem. Cash flow and capital is a symptom of too little income, too much outgo, or poor planning of profits. Cash flow is only the yardstick that tells you there is a problem.

Employees

Since we all know you cannot control people, this can be a real problem. There are many potential causes of employee challenges. It could be that you hired poorly, don’t pay well, don’t train effectively or don’t manage your employees.

What we do is look at what can be controlled and what can’t. Can we improve our hiring, training, and managing? I have never seen a company that cannot improve in this area.

Competition

From a strategic perspective trying to find space in the marketplace where you can stay away from sharks would seem best. But the problem is that there seem to be sharks everywhere. Here you need to rely on other strategies to be able to quietly yet effectively move into and navigate safer waters.

While there are many who take the attitude of “I’ll fight them!” you better have a better game plan than they do or you are going to lose. Here is where the phrase “working smarter, not harder” would really apply.

Market changes

In these areas, those who pay attention and are observant generally make out the best. Your competitors have these same issues as you do, so the business that can effectively turn these to their advantage first gets the upper hand.

We all know of Kodak, Blockbuster, and others that are no longer in existence because they could not change and adapt to the changes in the marketplace. There are steps that you can take to be prepared for these changes.

Management

This is usually a difficult issue to address. There are so many hidden influences going on that if this is causing some challenges it is difficult to solve. Not impossible but often difficult.

In a bank client of mine, all of the research I did and my analysis pointed to the CEO as the biggest problem with the many problems taking place. The CEO denied any of them existed. I was able to lead a process that helped the CEO see the issues and make some critical changes.

What about you?

The biggest take away here is to look beyond the apparent problem and look for root causes if you are going to remove or overcome these challenges.

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Three Big Marketing Mistakes Small Businesses Make!

Small businesses complain that their marketing is just not working the way that they feel it should. Here are three big marketing mistakes that small businesses often make trying to grow their business.

 1. Having all tactics, and no strategy

You keep trying things and you keep what works and throw out the rest. But what if you could leverage one tactic off of another? This would boost the effectiveness of each tactic. In order to do that you need to start with a strategy. Focus your efforts and resources to accomplish the most important goals first. This will provide the best results.

2. Not measuring results

Many will say that you really can’t measure the results of marketing, but that is not totally true. Part of the problem is that you have not designed your marketing to be measurable. With a little adjustment many marketing tactics can be measured. Once you see the numbers accurately, then you can make the most effective changes to get the best results.

 3. Not aligning your sales with marketing.

When you treat sales and marketing as two different functions then you lose some of the efficiency that is possible. Marketing and sales must be seen from the customer’s perspective and need to reinforce each other with the same or complimentary message. When both of these are in alignment you will see dramatic improvements in results.

Correcting these three mistakes can really have an impact on your marketing results, which should translate into more income. But some really struggle with making these corrections and getting a different perspective can often make the difference.

Call me (980-241-0189) to discuss growing your business and correcting these three big mistakes in marketing. Or email me at Stan@MyCrossroadsConsultants.com and ask about a Marketing Strategy evaluation for your business. Then get ready to grow!

Crossroads Consultants is a Business Management Consulting company that services small and mid-sized businesses and professionals with profitable growth strategies. Your customers don’t care about your growth. Ultimately, it is an inside job. We can help!