Over the last few years, I’ve had the fortune of working with dozens of businesses.
Some acted on my advice, and they thrived.
Others stuck to their old ways and sank to the depths of oblivion.
This led me to think of the following question:
What Is It Exactly That Kills Businesses?
Here are the FIVE Growth-Killers I’ve observed that hold companies back:
- Weak Positioning — If you can’t articulate how you’re different from everyone in your crowd, you have weak positioning.
- The Rising Cost of Attention. How much are you spending to acquire a lead?
- Neglecting the 7-4-11 Rule – I invented this rule to track your prospects’ consumption of your content and how many times they see you. If they don’t see you, then they don’t buy.
- Low-Quality Leads — Do you know who your high-value clients are?
- Inconsistent Lead Flow: Do you have an audience or a pipeline of leads to sell to?
Let’s do a quick quiz…
Out of these 5 points in this checklist, how many obstacles are holding you back?
Be honest.
Self-accountability is important if you want to grow.
Here is a list of follow-up questions you can use to discover the Growth Killers holding you back:
- Why are you in business? (Most people say they wanna make an impact. But when profit margins get hit… that’s when true colors start to show)
- How are your clients finding you? (Where do you get the bulk of your inquiries? Is it word of mouth or social media?)
- How much do your leads know about you? (Do your leads trust what you say? Or are you getting objections and pushbacks from them?)
- Speed of Purchase? (How fast do your leads buy?)
- How are you delivering value differently from your competitors (Examine your products and services and see how they differ from everyone else in the market)?
If you struggle with questions 1 and 5, you might have an issue with positioning.
Or if you can’t answer questions 2 and 3, then you might have an issue with traffic or conversions.
Hope these questions give you clarity.
This email can be hard to swallow today (I totally get it)
But we can only improve when we analyze the kinks in our business