If you’re in business, I’m pretty sure you know who Warren Buffett is. He’s a business giant, currently the 6th richest person in the world, and his name is almost instantly recognisable!
Buffett wasn’t born rich. He followed his dad into the investment business, went to business school, and made his first million by the age of 32.
His two rules of investing?
- Never lose money.
- Never forget rule #1.
Considering he now has a net worth of over $116 billion, I think it’s safe to say he’s followed those rules to a T!
But do you know his biggest “secret” to wealth and success?
The 6th most wealthy man in the world credits his dad, his first wife, and his business school professor for his success.
If the guy who’s worth hundreds of billions of dollars lists a mentor as being one of his biggest success secrets…
How could a great mentor change your business?
Food for thought, isn’t it!
If you’re on my list (which you obviously are if you’re reading this), then chances are you’re currently building a business.
I’m opening up a few spots for my Elite CMO Programme, a 6-month 1-on-1 mentoring programme that’s designed to help you scale your business and learn how to run things like a millionaire!
Subject: 5 things to fix to build a more stable business
Fix these 5 mistakes to boost your growth
Do you wake up every single day full of joy and excitement to build your business?
Yeah, me neither.
The truth is, building a business is hard.
I’ve been at it for almost 2 decades and I still have moments where I want to cry and throw in the towel.
But I have learnt a ton of lessons along the way.
If you’re feeling stuck, frustrated, and worried about moving forward in your business, you’re not alone. But fixing a few simple things could be all it takes to get you moving forward again.
Take a good look at your business and fix these 5 common mistakes to build a more stable, thriving business:
Problem 1: Not niching down.
The simple truth is that you can only talk to one type of person at a time. For example, I work with B2B entrepreneurs, which means every piece of content I write, email I send, or product I create caters to them. If you don’t have a niche, you can’t speak directly and effectively to anyone!
- Solution: Niche down! You may need to put some thought into it and make sure it falls in line with your skills and what you enjoy. Check out the Japanese Ikigai concept to help you out with this.
Problem 2: Not having automated systems.
Spending hours creating content, writing proposals, manually replying to emails, and so on, can eat away at a lot of hours in your week. Freeing up that time to do other things like outreach or sales calls is the smarter way to do things.
- Solution: Invest in automation software. This could be anything from social media to invoicing, it depends on your needs. Automation software may cost a bit, but you’ll be able to put your energy towards money-making tasks so it’s worth it.
Problem 3: Having a scattergun approach.
Reaching out to anyone and everyone may seem like it gives you the largest chance of success. But the truth is, if you aren’t qualifying those leads beforehand, a large percentage of them may not even be in the market for what you’re offering.
- Solution: Improve your lead generation and qualify your leads. Offer a free lead magnet that provides high value to your target customer. This gets you leads, and they’re already pretty qualified if they’re downloading something with the info you’re offering in your lead magnet.
Problem 4: Not setting goals.
Doing business without having solid goals is like driving off in your car without knowing where you’re headed. You’re going somewhere, that’s for sure… But will you like where you end up? Who knows. You’re not likely to progress nearly as much if you don’t have something specific and tangible to work towards.
- Solution: Set yearly goals. Then break them down into monthly goals, and further into weekly goals. Tick them off your list so you can see your progress as you go.
Problem 5: No/not the right guidance.
Everyone (And I mean everyone) needs business guidance. The internet is a terrible place to get guidance, because it’s really hard to pick the good stuff out from between the junk.
- Solution: Get a mentor! This is a single person who’s dedicated to helping you improve your business and reach the goals you’ve set for yourself.
I can guarantee if you change these small but fixable things, you’ll see a huge difference in how your business grows!
Let me know if they work for you.