4 Challenges Business Owners Face When They Need More Business
Let’s face it. Growing a business is hard. So, God damn hard. Your business size may be small, but the hurdles you face along the way certainly aren’t. So, what can we do about it? How can we lighten the load, and ease the burden of business problems? This week’s blog is dedicated to not only exploring the four main challenges I see small business owners encounter time and time again, but on giving you all the tools you need to absolutely smash these challenges out of the park. So that you can grow your business more effectively and make some serious dollar bills from your network.
We all want a business that moves us away from just a place of work. A thriving business should be a hive of abundance, time, flowing finance and of course flexibility! But a business doesn’t come off the shelf like that. It takes hard work and dedication to even get the ball rolling. So, what if you had a step-by-step framework to get you there? What could your life and your business look like if you got given the cue jump to put you right where you want to be?
Well, the good news is that's what Cutclass is all about.
Me and my two business partners created Cutclass to get you and your business EXACTLY where you want to be in half the time, with half the resources, and most importantly, at the fraction of the cost of traditional education. Why? Well, I had to dump over £150k into my private education. And if that wasn’t insult for injury, I still needed to obtain more work experience and learning to finally make headway in my business and my life. So, yeah, helping you to learn from my experiences is more than validation because no one should have to do what I did! So… let’s Cutclass!
Before we dive into the four main challenges, I see business owners battling every single day, I want to set the scene. If you're reading this, I bet you're a small business owner looking to grow your business, am I right?
And in order to grow your business, you're probably thinking about joining a networking group or maybe you've already joined one because you want to get more business.
You might not particularly love networking, but you recognize that it’s a necessary step to take. Well, here’s the thing. You don’t have to love networking to use it within your business, nor do you have to be totally crazy about it to make it effective.
Of course, it helps, but not too long ago, I watched a Ted talk by this super cool professor called David Burkus. And the title of his talk was how to hack networking. The opening of his talk cited a study where a group of participants were asked how they felt when reaching out to a new professional connection. The participants referenced subconscious thoughts of getting clean after their interactions, meaning that networking essentially made them feel dirty. So, if networking gives you the ick, you’re not alone. Regardless of how it makes you feel, what studies show time and time again is that networking really works if you can get customers coming through the doors consistently.
So, let's get into the four challenges.
#1 The “If you build it, they will come” Fantasy
When we start a new business, we get super excited, share our new business with all of our close-knit friends and family. In fact, our closest friends and family often end up being our first customers.
But what happens when the honeymoon period is over, the novelty wears off and your friends and family stop buying? Rather than assume that your followers will simply come! (Because they won’t!)
You need to shift your mind into strategy mode and work out a plan to go get them! Enter the need to network!
#2 Anxiety about Networking
So, you need to network but ahhhhhhh you don’t wanna do it! This has a lot to do with your mindset and a little bit about imposter syndrome.
Imposter syndrome is loosely defined as doubting your abilities and feeling like a fraud. It disproportionately affects high-achieving people, who find it difficult to accept their accomplishments.
A great way to overcome the disempowering mindset around networking is to have a big old fat WHY. You know that major reason for why you started your business in the first place. Your why has to be so big that it pushes you through those tough moments that you come up against in your head.
My WHY is my family and the freedom and flexibility that I have around my business. When I get into the uncomfortable parts of my business, I revert back to my why to push me through. What’s your, why? Go on, write it down. Or even better say it out loud.
#3 You don’t wanna be Salesy
You’ve got your solid why, and you're ready to network. But the challenge now is that you don't want to come across too pushy. In reality, this is all about moving from a transactional mindset to a value impact model.
What’s that you ask? Well, if you know the true value of what your product or service can provide to your customers, i.e. How it can genuinely benefit and have a positive impact on areas of their lives be it personal or professional, then you won't feel as if you're trying to pull a fast one.
It can be as simple as I make a difference and add value to people by helping with X, Y, Z, and in return, I get paid. BOOM.
When you get clarity on the value you provide, you'll move from a transactional mindset to a value impact mindset. Check out my blog to find out more about why value is sooooo important!
#4 Lack of Strategy & Structure
Okay. I saved the best for last uncovering the foundational issues that need to be addressed before trying to get or gain more business. Let’s recap where you're at in your journey. You're thinking, I need more business. So I'm going to join a networking group, but even if you got into that networking group, meeting people and having fun, what the heck do I do next?
Would you know how to nurture your leads? Developing and Converting them from a mere conversation to a lifelong customer or contact?
Are you keeping track of everything in your business, like marketing, operations and finance?
This lack of strategy sees many small business owners fall at the first hurdles. Really, it all boils down to self-discipline and accountability to put a strategy in place that covers your admin and operations. Important to note here, your strategy doesn’t have to be complex but you 100000% have to stick to it.
One of the biggest life savers when I was (and still am) growing my business was to sign up to a customer relationship management system. Keeping track of everyone I talk to is hard but by having a CRM system integrated with my business, I can easily log all of the interactions I’ve had, detailing clear actions and timescales on how and when to follow up. Not only does this keep me accountable, it also gives me the structure I need to plan out my day and use my time effectively. I currently use a system called Monday.com - definitely check it out!
If you’re currently stuck with one (or maybe more) of these challenges then let’s get to work! I’ve helped small businesses owners all over the U.S. and U.K. to break down these barriers and find their real business flow. If you’d like to find out more then simply pop into my DMS on Instagram @ItsRoGroh. You can always send me an email at rg@rochellegroh.com or you can also join my free Facebook group called from real relationships to real revenue.