You know what, you need to stop experiencing FOMO
Your small business will grow only as you do
Having a business is not an easy job. People that are not entrepreneurs will tell you that “At least your work for yourself” or “I wish I had your business problems”. Those people still have a JOB because they don’t have the guts to go out in the world and make it happen.
You had the courage to start something. It might now be all roses and flowers, but is yours and you are proud of it. You are reading Medium articles and want to grow your business and honestly with the amount of information available here you can more than double your business this year. But there is a catch.
The journey is never-ending. There’s always gonna be growth, improvement, adversity; you just gotta take it all in and do what’s right, continue to grow, continue to live in the moment. Antonio Brown
You have to stop feeling FOMO (fear of missing out)
There are a lot of good people out there that will sell you things that can work for you. But as in any industry, there are a lot of scammers who will promise you that you can make $xxx.xxx with just a click of a button. That is absolute rubbish and I hate when people use marketing hypes like that and manage to get people into their program and courses.
If you want to truly grow your business this year, you have to create a system. Let’s say sales are what you want to improve this year. Go read articles from Andy Raskin, Gary Vaynerchuk, Tim Denning or Grant Cardone and not just read them. From each article, you should go deep, take 1–2 ideas and put in on a piece of paper. When you have read 15–30 articles on sales, and have 20–40 ideas on your paper not is time to structure everything up.
In business, there are 4 levels of growth that will truly affect your profits:
- Acquisition — How do you build awareness and drive more leads?
- Activation — Once you have the leads how do you move them further into your funnel or how do you turn leads into customers.
- Monetization — Are you turning these leads into a single customer or a repeat buyer?
- Retention — How do you keep clients happy and make them return to your store or business?
Now is where most people give up or postpone doing this exercise. Now you have to look at your business from outside your business. Think about yourself as an investor that wants to know more about your business and ask the following questions:
- What are we doing great right now to grow our business?
- From the 4 mentions above, where could we find new ways and improve?
- What are we doing worst right now?
When you have all this data about your business and the ideas from the articles you’ve read, is time to start trimming them down based on your answers to the last 3 questions.
Now you have a lot of ideas, you have to break them down into categories and rate them based on where your business is. Getting down to 3–5 ideas is the ideal place you should strive for. Now look at each idea and ask yourself who should be in charge of implementing this idea. Assign a person and also coach him on the importance of implementing this idea and what he should do. Make sure you give each idea a 3–6 months implementation time and also divide it by the number of months you associated with it. This way you will be able to have a short meeting with the people that are implementing these ideas each month and checkup the progress.
All growth depends upon activity. There is no development physically or intellectually without effort, and effort means work. Calvin Coolidge
Please stop following the new bright shiny object and start growing your business. You deserve to be among the entrepreneurs that have a great business, not the ones that close doors after 5–10 years.
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