I used to go to a lot of networking events in the past. At these events, I would meet a lot of entrepreneurs who were in various stages of their entrepreneurial journey.
There were many individuals who were thinking about starting a business, some who just started a business, and a few who were seasoned entrepreneurs.
What would stand out is how many people were struggling in their business. If they didn’t tell you outright that they were struggling, you could tell by how clueless they would come off when talking about their business.
When I say clueless, I mean that their business didn’t seem fine-tuned. They were basically in the process of hoping shit stuck to the wall so they could make a lot of money in the process.
I find it quite alarming how many entrepreneurs depend on hope and wishes to carry their business towards success. I’m not saying hope is a bad thing. We all hope that our businesses turn out to be what we envisioned.
But, hope and a planned strategy are two completely different things.
I used to work within a small business where people would do a lot of talking and hoping, but there was no strategy in place to execute upon what was discussed.
Then when things would not turn out as talked about, everyone was clueless as to why bad results were produced.
Bad results happened because the business sucked.
Why did the business suck? Because it did not operate as a real business.
So many people are playing at being an entrepreneur. Their struggling business is a reflection of this playful effort.
You can’t suck at being an entrepreneur and really expect to have a successful business. You’re insane if you believe bullshit produces gold.
Sadly, many aspiring entrepreneurs are misinformed about the entrepreneurial process. Their misguided mindset and mediocre work ethic produces a business that sucks
The question you might be asking yourself, “Does my business suck?”
If you have to question the status of your business then it most likely does suck.
But, if you need further confirmation to verify if your business sucks, continue reading to find out exactly why it sucks.
1) You started a business to jump on the entrepreneur bandwagon — not to serve a need
This is a huge problem that many aspiring entrepreneurs deal with. They start a business to be recognized as an “entrepreneur”, instead of starting a business to serve customers.
I don’t know about you but I create businesses so that I can get paid. The only way I can make money is if I offer a product or service customers want.
I don’t care about being the cool guy who “owns a business”. There are many so-called entrepreneurs who own a business but they’re not making any money.
They started their businesses without doing the due diligence to understand the marketplace they are operating within. They don’t know what defines their ideal customer or who are their competitors. Therefore, they don’t know the problems that need to solved for their customers.
Without knowing the problems that need to be solved, you cannot create a product or service that appeals to your customer. No demand for your offer means no money.
You blame everyone else for your problems, instead of holding yourself accountable for your mistakes. You failed your business from the very beginning because you wanted to play entrepreneur, instead of building a real business.
You have no strategy, no goals, no processes or systems. Basically, you don’t know what the hell you’re doing — you just like calling yourself an entrepreneur.
You have no business. You have a facade that you’re trying to convince people is a real business. Just give it up already or start to take being an entrepreneur serious.
2) You don’t believe in marketing
I cringed when I typed this out because I used to be one of these people. And, my business had no customers because of this foolish belief.
This is business — you have to spend money to make money.
I don’t care if you have a great product or service. I don’t care if you’re a very smart person that deserves success.
Your business is nothing because customers are not aware of its existence. The only way they can know it exist is if you invest in marketing.
You may be saying marketing is too expensive. Facebook ads start as low as $1, so that excuse doesn’t work. You can have a marketing budget of $20 per week and start to see results being produced.
The small businesses that are succeeding are the ones investing in being in front of their customers. Stop thinking that customers are just going to find your business.
NO! If you want your business to grow you must invest in marketing.
3) You hate selling
It’s insane to be an entrepreneur who hates selling. Basically, you’re saying you hate success because you hate money.
You say you have a fear of rejection. Get over it.
You will have to deal with a lot of no’s when you are trying to make a sale. Instead of giving up, you need to use this rejection as motivation to prove them wrong.
The key to hearing a no is understanding why the no was said. Once you gain this understanding, you can improve how you communicate with prospects.
If you choose to run away from selling, you might as well cease operating your business. Money won’t just be handed to you. You have to provide sufficient reason as to why customers should pay for your product or service.
You can’t wish for wealth but not possess the confidence to go after sales every single day to hit your financial goals. Miracles do not happen in business — only results that have been worked towards.
4) You’re not making money
It sucks to have a business that’s not making any money. It’s like having a car that never has any gas — you’re stuck not moving.
There’s a few reasons why you’re not making money. I actually addressed these reason in the first 3 points.
- You didn’t create a product or service that solves a problem
- You don’t invest in marketing
- You hate selling
The bigger issue here is that you don’t have a strategy. If you had a strategy the points addressed wouldn’t be occurring.
When you have a strategy, your objective is to make money. You know the only way you can make money is by satisfying your customer base, gaining their attention, and having consistent sales transactions.
To turn this entire mess around, you need to go back to the drawing board and develop your strategy. A strategy will provide you with direction on how to create success for your business.
Save Your Business Before it Completely Sinks
If you need a strategy to move your business forward I can help you achieve your goals.
I know what it’s like to have a business that sucks. I have been an entrepreneur since I was 19. I just turned 28 last month and feel like I finally understand how to build and operate a successful business.
It took me almost 10 years to gain this understanding. That’s why it’s good to read blogs written by experienced entrepreneurs so that you can cut your learning curve in half. This helps you reduce the time you waste not producing results.
I want you to succeed and the only way that can occur is by being real with you. I wish people told me that my work ethic sucked so that I could have gotten my act together much sooner.
That’s why I’m moving at a frantic speed now. I want to make up for the decade I wasted playing at being an entrepreneur.
How about you? If you’re ready to be a successful entrepreneur, this is the community where you will be pushed and challenged to create a successful business.
Are you ready to be an ambitious entrepreneur? It’s time for you to be the successful entrepreneur you envision. No excuses, no complaints — just hard work and constant hustle.