Women In Business

Why your business is most likely not succeeding … 2 years down the track

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Ladies, listen up… This is crucial.

Do you run a small business but even after quite some time find it difficult to kick goals or make a profit? If you are not making a comfortable wage (profit after expenses are paid) after two years you need to ask yourself why … and then ask yourself the hard questions that will lead to better results.

1. Are you looking at your numbers?

Whether you are a ‘numbers person’ or not, you need to become one. You should be looking at your P&L on a regular basis. Do you know where you’re spending your money? Do you know where the majority of your money is coming from? After you have your finances organised, such as a business loan Singapore in place, are you keeping an eye on the bottom line and aspects like interest and fees?

This information will help you cut back on expenses that are over and above what you need to spend in order to run your business. And it will also help design your lead generation strategy on the type of customer/client you are most successful at making a profit from. Find out where the sweet spots are, and optimize them.

2. Who are you listening to or spending time with?

Do you feel comfortable spending your time and money hanging around people that tell you what you LIKE to hear instead of what you NEED to hear?

As the saying goes, don’t take constructive criticism from anyone who hasn’t constructed anything. This includes business coaches, friends, family… etc.

Surround yourself with successful people. Read articles from those who have been there before you and are willing to share how YOU can also get there.

This is one of the toughest decisions to make, as it is human nature to be lured into something that makes you feel comfortable. But the hard truth? Comfortable = no money.

3. Are you burning time in complaining instead of changing?

How much time are you spending complaining about your current situation versus time spent on changing your situation.

If you are complaining more than 5 minutes PER DAY about your circumstances, then you are bound to fail. You can’t have a positive future with a negative mindset.

Plus, no-one wants to know about your hard times. You are supposed to be good at what you do. Telling people you are not succeeding — or have no revenue — will only give the impression that you are someone to avoid and not to work with.

It is also going to impact the way you think; and what you think … you become.

4. Do you really want to succeed? (fear of success)

Here is the toughest question of them all. Do you even want to succeed? Are you worried that you will lose your network of ‘friends’ if you do start to make money and climb the ladder of success?

The reality is: we are all surrounded by great ideas, great advice and a massive marketplace. And often the only thing preventing us from succeeding is our own personal choice NOT to work as hard as we need to.

5. Have you given it your best shot?

This is time for self-reflection. How much time do you spend per day and per week on building your business?

Do you treat lead generation as a 9-5pm job (as a minimum)? Or do you send out one email, have a few coffees and then expect the floodgates to open with business?

Building a business is A LOT HARDER than anyone is going to tell you. You need to be RUTHLESS with your time. You must be strategic with your decisions and be willing to do “whatever it takes” to succeed.

Can you look at yourself in the mirror and say this to yourself? If not, then you are not working hard enough. Period.

About Amanda Rose

Founder and CEO of The Business Woman Media. Amanda Rose is also the only 'strategic connector', a brand strategist, keynote speaker and host of Amanda Rose TV. Connect with Amanda Rose on LinkedIn, Facebook, Twitter or visit www.amandaroseofficial.com.

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