Four Reasons Why Your Business Isn’t Making Any Money
It seems like everyone has a business these days, right? Well, that’s not necessarily a bad thing. That means people are still keeping hold of the good ole American dream! Yearly, hundreds of thousands of business doors open, just to close before they get off the ground. If you think about ten people you know that have started businesses within the last three years, how many of them are still up and running? (I’ll wait.)
I’ve been where you are before, telling everyone “I’m open for business,” only to be met with the sound of crickets. And for the life of me, I could not figure out why. People got to know me personally and professionally, and they loved me; but at the end of the day, they clearly didn’t vibe with me enough to take out their wallets to buy from me.
So here’s the deal. I knew then that I had a winning formula that COULD generate thousands for me monthly, but I just didn’t stick with it long enough to see it through. And that’s when everything changed.
Today, I can proudly say that I have not promoted my business services in over a year yet I have a constant flow of clients coming in the door. (How Sway?) And that’s not by happenstance. I simply followed my own simple plan that has set me up on the right path, at the right time, and in front of the right paying clients.
So, if you’re in business for yourself, no matter what kind of business it is, here are a few things I’ve learned in my business journey that can help you become more aware of your business setbacks so you can be setup for a consistent flow of clients and customers.
Reason #1: Your message is unclear.
This one is first for a reason. Being in business for yourself is not about doing the next hot thing. It’s about dialing down to see what need there is that you can fulfill for others that can and will pay you. Ask yourself: What do you do well? What are you passionate about? How can you use your gift and talent to make someone else’s life easier? Answer those questions and then take it from there. Your potential clients need to be able to hear what you do and how you do it clearly without question. If they can’t, that may be a reason why they cheer you on but they never swipe their piece of plastic to buy from you.
In my business lifestyle coaching program, “True You,” the first couple of sessions are designed to help you do just that. You discover who you are, who you are purposed to help and how you are going to help them (and more). I am a firm believer that if your personal life is in shambles, there is no way your business will function at an optimal level. Messaging is everything. Make sure yours is crystal clear to yourself first, and then to others. If people do not know what they are buying, they won’t buy.
Reason #2: You have spilt-personality syndrome.
We all have a handful of Facebook buddies who operate from a place of emotionalism on a regular. One moment they are posting a sermon about how much they have “helped” other’s change their lives by changing their mindset. And in the next post, they are cursing crazily and spewing hate because they believe they have a “hater” who opposed their so-called newfound life. Then in the next post, they boastfully post about their “busy” life as a business owner and how much they don’t have time for this or that. Meanwhile, the world is watching thinking “They don’t know who they want to be or what they want to do.”
Listen, if say you are a,b,c…but your personal branding (character is 75% of it) says differently, nobody is going to be convinced to buy anything from you. People do business with those they know like and trust. People can’t trust you because they never know which “you” they are going to get from day to day. And when that happens, it makes it a little tough for those that follow you to decide if they like you enough to buy from you. How do they know that you won’t flip your script with them the second you have their money in hand?
Reason #3: You’re doing so much that nothing gets done.
Oh baby…I posted a status the other evening suggesting this topic. “Being busy does not mean you are in business.” Guess what? There are millions of “busy” business people in the world who are busy being broke. When you’re out to bring in the dollars, you cannot be busy doing the wrong things! Wrong things are any activities that don’t point back to bringing value to others to bring income into your hands. You can attend the biggest and the best networking event in the city, but if that event caters to millennial creatives who focus on making the most out of life and you sale hospice care for the elderly, how successful do you think you’ll be in making connections there? That crowd isn’t interested in what you have to offer. So you’d be wasting your time.
Once my clients get clear on their messaging, I have them create a list of income producing activities that they must do daily. From follow-ups with potential customers to perfecting a passive income product, we tackle it all. Nothing you do should be done without a purpose. What do your income producing activities look like? Do you check-in on those interested potentials to see if circumstances have changed? Do you set time aside on a regular basis to analyze past data to see what could be improved upon? If you don’t have a plan to produce, chances are you won’t produce.
Reason #4: You haven’t sold yourself on yourself yet.
More often than not, THIS is the one discovery made with all dead businesses. I say it all the time and I’ll say it again: if you are not head-over-heels about what you do, how do you expect others to feel that way? You have to be sold on the fact that what you are offering, there is a paying market for it (notice the word “paying”). You have to be consistent in trusting that you know what you are doing and that you will be successful in it. Doubt kills more sales than anything! Do you expect to sell your new book? Do you go into a consultation call expecting to book that paying client? Do you post a new sale hoping that someone will buy or do you go in wondering if you have enough merchandise to cover the incoming orders? Whatever you think is what shall be.
One of the tell-all signs to figure out if you are truly in it to win it is to ask yourself this questions: “If I had to wake up every day and do THIS for the rest of my life, would I have a joyous life?” If there is an inkling of doubt, you may need to reassess what you’re trying to sell others. There are never any guarantees with any life decision, but there is one thing that’s for sure; until you are deeply interested in you and what you do, nobody else will be.
Start today in assessing yourself and your business. There is no reason why you should not be able to make at least a dollar a day doing what you love. If you’re in business and not making money, you’re not in business…you’re in an expensive hobby.
BONUS: The good thing is, you’re in luck! This month, I’m doing something I NEVER do, I am offering FREE 20-minute consultations to anyone who is desiring more out of their life and business and to any person who is actually READY to do the work it takes to get to more! Personally, I’m not in business to help everyone, but I am in business to serve someone. Is that someone you? If so, book your free 20-minute session with me HERE. If it’s not, I’m sure I’ll be hearing from you sooner than later. Later just won’t be free.
