Every business owner wants growth.
They want to help more people, make a bigger impact on the world, and make more money for doing so.
In all my years in business, I’ve seen business owners struggle with a number of challenges.
And every situation is different.
But after digging in, a lot of these unique challenges can be traced back to a few sources.
“I need more clients/customers.”
“My marketing is not working.”
“I’m having cash flow issues.”
These are the symptoms. It’s what the business owner feels and experiences.
But they are merely symptoms of deeper, underlying challenges (that can easily be solved).
1. Not knowing who your ideal customer is.
Moreira had a keen grasp on the type of artists he wanted to attract from the beginning, explaining, “Understanding [our clients] is what has enabled us to attract great talent early on, and it’s what was responsible for our long-term deal with Sony Music.
If you don’t fully understand your ideal customer, there is no way you can provide the kind of value that’s going to attract them to your business and keep them satisfied.
You have to understand their needs and wants, and offer a solution that is a perfect fit. Doing this will help you quickly establish your business as a viable solution.”
This applies to every business — if you don’t know who your ideal customer is, you will be casting a wide net and are more than likely not attracting the right consumers.
When you find your ideal customer, you can improve your targeting, advertising, marketing and brand message.
2. Not understanding your key performance indicators.
To grow, you need to know what is working and what isn’t.
Every business is going to have key performance indicators, and if you don’t track, measure and optimize these numbers, you have no idea what to scale to achieve that desirable growth.
You can read more business mistakes over at Entrepreneur.
If you’re struggling with either of these problems – GREAT! (It’s all about your mindset / perspective).
Because once the challenge is identified, you can work towards finding a solution.
Not sure where to start?
I’ve compiled some of my insights and wisdom from all my years in business:
Or, if you’re ready for some 1-on-1 help…