How to Avoid Ticking Time Bombs in Your Business
How to Avoid Ticking Time Bombs in Your Business
I’ll never forget this story that one of my mentors told me about their business. To this day it shapes how I look at my business and my clients’ businesses.
The concept should seem very basic and obvious when you hear it. But if you are like most people (as I was too) you come to realise that even though it is glaringly obvious once you are told it, the majority of people are not putting it into practice. They say ignorance is bliss, but not in this case.
If you fall in the category (like most do) of being at fault of this common business mistake, there is time. You can fix it. My mentor did, I have, and countless clients we have worked with have fixed it. Whether you have a small or large business you can fix this issue once you are aware of it.
That is why over the next few minutes I will explain this mistake so that you can avoid it going off like a ticking time bomb in your business.
The Biggest Mistake You Can Make in Business
It should come as no surprise that as a business you need customers to thrive. Doesn’t matter what type of business you have and at what stage of business you are in (unless you are about to close up shop). Everyone needs people coming through the door.
My mentor owned a real estate agency. A pretty good one in fact. They were spending $1000/day on Google AdWords and were getting $5 for every $1 spent. Doesn’t take a math genius to figure out they were making a decent sum of money from it.
You may think (as did I) that this story is a bit of a brag. In fact, it is the opposite. It is a warning. You see, my mentor came into the office one day to find out that the Google Ad account had been blocked. No ads were running.
Despite how much he spent it was a long while before Google got back to him about the ads. In the meantime, they were not getting any new leads through the door.
Why is that?
They solely relied on Google AdWords as their only source of new leads.
This was his (and is most businesses) biggest mistake. Relying on one thing.
This is the Worst Number in Business
If you are relying on 1 of anything you are asking for it.
You wouldn’t expect a building to stay standing if it was held up with 1 pillar, so why on earth do you expect the same from your business?
This is not to say that businesses are hinged on one aspect. This goes for a whole multitude of things. If you have 1 of anything in your business and it becomes a 0 then you are done for. No matter how big a number you have in other areas. You (and your business) are only as strong as your weakest link.
The most common ones that can topple a business are:
- 1 source of leads.
- 1 key member of staff.
- 1 big client.
All may seem good now, but it often times doesn’t take much for it to go ‘tits up’. The things that shouldn’t, couldn’t, and wouldn’t go wrong always find a way of doing so.
Now is your time to make sure you can do something to change this NOW.
How to Make Your Marketing Invincible
After my mentor told me this story in his business I went into a panic mode. Not in a curl up in a ball and cry about it way, but in a ‘I have to work to do to fix this ASAP’. Once I made sure my house was in order, I set out to ensure all my clients houses were properly reinforced. This is my main goal for anybody that I work with.
The main objection to this that I see is the people who convince themselves that their 1 is just fine. Their 1 is different. They have only ever had 1 and had no issues with it.
The harrowing truth is, although that may be the case do you want to walk round tempting fate like that? The universe has a cruel way of humbling us. When we feel on top of the world and are being less vigilant, that is when danger swoops in to take advantage.
When we are talking about marketing your business, you cannot just have the one sole source of leads. No matter how plentiful that source may seem. As they say 2 is always better than 1. This is abundantly true within business and for getting new customers in. it pays dividends in the long run.
So, what options do you have to make your business invincible and ensure that new leads are always plentiful?
Of course, there are ads. From Meta (Facebook & Instagram) and Google, to TikTok and LinkedIn.
You also have direct mail – you can post flyers and newsletters.
Maybe you branch out into radio or TV.
There is always the local paper or big swanky billboard.
Not forgetting affiliate and referral marketing.
The list is endless. The main thing is to ensure you have at least 2. Not 1. But 2. From there the sky is the limit and you want to get as far from the cursed 1 as possible. The sooner the better. You can always bounce back a lot easier when a 2 turns to a 1, but this cannot be said when a 1 turns to a 0.
If you are looking to make your business a formidable force full of 2’s and not 1’s, get in touch today.
We will take a deep dive into your businesses current marketing strategy and let you know exactly what we would do in your situation.
If it makes sense for us to work together then we will assess how to make it work for both of us. If it isn’t for you then you can take our ideas for yourself.
No fee or presumed commitment.
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Bye for now.
