Business building failure can be summed up in 2-words – Consistent Action.
Here’s the formula to follow to avoid business building disaster:
1. Understand your target audience.
2. Pick just one target.
3. Develop a plan that includes:
- Attracting one chosen niche to your offer
- Converting that attraction into revenue at least 1 in 5 times
- Continuing to sell to the same group of people again after the first sale.
- Gain referrals and generate work-of-mouth marketing from your “buzz worthy” products and service.
There are other reasons that your business building efforts may fail too.
Your attempts at business building are unplanned and half-hearted. No research, no strategy, just a hope and prayer. This is often called business mysticism.
Lack of consistency; you start a business building program, do it for a week or two and quit. Success happens with planned and repeated action.
Think months and years not days and weeks.