When you’ve got accounting staff, clients, delivery and operational things, you’ve gotyour marketing, you’ve got financials; you’ve got to deal with it all atonce. You’ve got all these balls in the air and it can seem a bitoverwhelming. Anyone who has been in business has been there atsome stage, working hard but not getting anywhere. So, for things toget better, or for that circle to stop there needs to be a decision tomake a change and not do it.If you’re unwilling to change you’ve reached your maximum potential.Of course, that’s what you’re into now. Six valuable mistakes the first mistake is not understanding the lifetime value of your client.You’ve got to get the heard in and look afterthem, feed them well, fence them and keep out predators and that’show you get a successful business.
Then the next one is that one that we all love asentrepreneurs, our ego. Ego, yes, so controlling that in two ways: not having a ballooned self-confidence that’s misinformed or not being fearful, so that you hold yourself back.
Accountants letting overheads get in the way, and that’s building that ship and thendeciding to generate revenue.
Lack of focus: get one thing done before you move onto the next.Tidy your room. Focus on the highest priority right now.
Not selecting your clients and then not charging enough. Decide who you want to work with and charge appropriately.It’s got to be good value; they’ve got to want to stay. Not testing, reporting and measuring. So you know where you are at and you can run your businessthat way.Business is about maximising profit for shareholders.Quite often, the shareholder is the only one. If you asthe major shareholder, are not getting the return on investment thatyou want, or the size of it isn’t there at the moment if you’re nothappy then you’ve got to do something. I believe the best way to shiftthat profit is through better sales and marketing. Usually it is donepoorly or just average. People are good at what they do but they don’tget good at sales and marketing. The thing is, you can get somequick and easy wins straight away and a lot of businesses have thecapacity to grow 30-50% without adding any extra overhead. Youknow, so there are some big opportunities there. But if you areworking really hard, and you’ve got a capacity problem just put yourprices up first. And then if you have a problem you can fix that. Getpeople in there.
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