Why most small business are forced to closed down in less than 3 years
Trying to grow your business, find more customers online, discover “untapped hidden” revenue sources right under your eyes? Over the last 36-months I’ve consulted with 6-figure companies and advised 7-figure business owners with online marketing and Facebook advertising; they all have one common problem they were unaware of before they met me…
The #1 BIGGEST reason they struggled and why 80% of entrepreneurs closed down their business in the first 3-years of operation is because they’re ONLY fighting for the tiny 4% of their market! After 36-months of helping multiple business across different industries to grow their profits online/offline, I’d have to be an idiot in order not spot this pattern.
Let me explain…
This if for you if you are a marketer, business owner, or a marketing manager in-charge of online marketing/advertising for your company — specifically in the role of winning new customers to spend money with you.
4% — ACTIVELY FINDING SOLUTIONS: They say “solve my problem and I will pay you”
Everyone with an even remotely similar product, program or service to yours will be marketing to this group. More accurately, they’re constantly wrestling for attention to these active buyers. It is a highly competitive market segment.
Only 4% of your perfect potential clients are actively shopping for your programs, products, and services. These people have some kind of problem in their life, and are sick and tired of dealing with it!
Maybe it’s a health problem.
Maybe it’s a relationship problem.
Many it’s a financial problem.
Whatever problem they face — they’ve had enough of dealing with it. And they’ve made the decision they want a solution to this nagging problem. They’re now just deciding WHERE they will buy the solution.
This was my biggest motivation to conduct live events and begin training business owners. When I first started out consulting in 2014 with an interior design company, they were only concerned with the buyers who can buy now and ignored the leads who were coming in. They were treating their potential customers only as a commodity. I was disturbed by this act and it was the day I decided to step up and teach ordinary businesses personally how great companies become extraordinary.
66% — OPEN TO YOU and/or AWARE OF PROBLEM LOOKING FOR SOLUTIONS: They say “maybe”
These individuals have the problem you solve, and while OPEN to listening to you talk about your solution, they are not actively shopping for you.
They have NOT made the decision to purchase a solution yet. This makes a significant segment of your market.
Your buyers know they need a solution to a nagging problem… but they keep putting off investing in it! They say they’ll invest in a solution — it’s just a matter of time.
Maybe when the kids get out of school. Maybe when the kids are back in school. Maybe when time and cash flow frees up. Maybe as part of next year’s New Year’s resolutions! They want a solution — they just haven’t made getting one a priority yet.
30% — COMPLETELY IN THE DARK OF THEIR PROBLEM: They say “NO!”
This is the group of your ideal clients that should be looking for you, but are either not conscious they have a problem, or that someone like you exists that can help them with something they’re suffering with.
Either way, they’re also NOT actively shopping for you.
These people have the problem you solve, but for whatever reason, are not ready to invest in a solution.
They’ll use many excuses why they don’t need your solution
They may cite money as the reason.
They may say it’s the time.
They may mention energy.
In my experience, it’s often their awareness to the (obvious) problems These ‘NO’ people are just not aware they need a solution — because they are not even aware they had a problem. So… we bless these people and set them free, hoping we can serve them sometime in the future.
Most marketing, in most industries, is designed to only reach the 4% of people already ACTIVELY looking for a solution. Most business owners and marketers spend their time trying to win this highly competitive arena.
Very few marketing managers, owners of the business know how to access the 37% to 60% remaining of their ideal buyers who have the problem they solve — but just need a little education to know they need them!
I’ve spent the last 36 months consulting with companies using the essence of this and the ONE core essence that anchors this profound strategy is this: “Education-Based Marketing”
Education Based Marketing = Marketing that helps your potential customers.
Marketing that offers value first, BEFORE your potential client gives you a single penny!
Why is it so powerful?
When you give someone an education — when you teach them something that SOLVES a world-class problem in their life — a problem currently keeping them up at night — you instantly build an immense amount of TRUST with that person.
And TRUST is foundation of all relationships!
It doesn’t matter if it is a romantic relationship, a friendship, a business partnership… or the potentially life-long relationship between you and your client!
This consumer-centric approach allows you to become, in eyes of your potential clients, what I call, a “Trusted Advisor”.
Take a moment to think about someone in your life you consider a Trusted Advisor. This person could be a friend, colleague, teacher, or family member.
Got someone in mind?
Now… how do you FEEL when you think of your Trusted Advisor?
If you’re anything like me, your Trusted Advisor is a person you LIKE, LISTEN TO, and FEEL WARM about when you bring them to mind. Also, when they offer you sincere, heartfelt advice, you follow it… often without question!
What if you, and your business, became a Trusted Advisor to your buyers before they buy from you? Wouldn’t it be nice if, when they brought your name and face to mind, they had the same kinds of warm feeling as you just did?
When you take time to educate your potential clients, right inside your marketing, you instantly become a Trusted Advisor to them. And warm feelings towards you will start to flow.
What else is cool? True Trusted Advisors bypass sales process because of their status! They simply make a recommendation, and people follow it.
You become an instant authority in your industry without claiming it, your buyers naturally label you in their mind and hearts because you’re TRUSTED to help them.
More customers take action on your offers faster resulting in lower cost per acquisition — as a result? Increased profits!
Here’s REALLY why you haven’t been successful yet…
You don’t have step-by-step proven system and process needed for planning, optimizing & scaling your campaigns to create TRUST in your industry.
Here’s why systems are so important…
“For a business to survive and thrive, 100 percent of all the systems must be functioning and accountable. For example: An airplane is a system of systems. If an airplane takes off and the fuel system fails, there often is a crash. The same things happen in business. It’s not the systems that you know about that are the problem — it’s the systems you are not aware of that cause you to crash” -Robert Kiyosaki
Does it mean that if you have a proper Facebook Ads you will succeed in business? Not really.
In the article you’ll discover why getting people to your website is actually the easiest thing. But even having quality people visiting your website is not enough to really take your business to 7-figures fast enough.
According to Jay Abraham there are 3 critical areas you need to focus on to grow your business.
Most people I consult with feel that the only way to increasing their business revenue is all about getting new customers…that increasing business is a complex giant burden of thousands of tactics but Jay Abraham made it extremely simple,
1. Sell more
2. Sell more higher
3. Sell more often
If you increase 30% in each of this 3 areas, you will experience a huge growth increase to double your business. For eg. If you sell consulting work
100 buyers @ $1,000 x 1 = $100,000
130 buyers @ $1,300 x 1.3 = 219,700
That’s the power of geometrical compounding growth. It’s the same strategy billionaires used to compound their investment in the stocks market, and every smart business owner like Richard Branson, Anthony Robbins teach in all their $10,000 — $100,000 seminars.