If your sales are down or business has gone flat, who or what do you blame?
I hear some people blaming the economy
Even though they have competitors that are doing really well, many people choose to blame the economy for their lack of sales. If they had zero control over their business and were literally unable to change or adapt anything, that might be a reason – but they can make the changes required.
It’s like them blaming the weather for getting wet, because they decided to go out, in heavy rain, without a coat and umbrella! When the economy changes, we adapt.
I hear some people blaming the marketplace
I regularly hear from people, who blame their customers and prospective customers for being too price conscious or fee sensitive. The marketplace is attracted to VALUE not ‘cheap.’
For example, if you needed a heart surgeon, would you hire the cheapest you could find, or the best you could afford? That’s how value works. It’s not cost cutting, it’s value gathering.
I seldom hear people blaming themselves
Regardless of the economy or what your competitors are doing, you can grow a massively successful business. However, there’s one important proviso here:
You have to do the right things correctly.
That’s the part where businesses fail. They see sales are down or that growth is way too slow and they look for answers OUTSIDE themselves, rather than WITHIN. When I meet a new client, I am able to help them dramatically improve their sales and income, because they tend to sell and market their services really ineffectively.
I don’t change the economy for my clients and I don’t perform Jedi mind tricks on the marketplace for them either. All I do is look within their business, find what’s wrong (or missing) and coach them on how to fix it. As soon as they start doing the right things correctly, their results change and they start growing their business.
Instead of blaming the economy or the marketplace for your business results, take a look inside your business. That’s the only thing YOU have control over and as soon as you identify and fix what’s wrong, your results will improve.
Photo: Mark Hillary
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I remember when my first business went to the wall. It was the early 90’s and we were recovering from a mini recession with interest rates through the roof and my customers were cutting back left right and centre.
I was in manufacturing and orders dried up. I was forced to close the business. The economy had killed my business – or so I thought.
It wasn’t until a few years later, following some of my own personal development (business skills and life lessons) that I was able to look back at that first business and see that it wasn’t the economy’s fault – it was mine!
I was the one who didn’t position my business to be flexible enough to diversify. I was the one who didn’t put in place the necessary cash flow to ride the difficulties. I was the one who didn’t know how to market myself and the business effectively enough to get more orders.
It’s a hugely valuable and important leasson to learn. And, what’s arguably more important, you don’t need to experience search heartache as I did to learn! Listen to my story and listen to Jim. Step up now and realise that you are in control of your business – if you don’t feel that you are, then you’ve got some serious work to do and some serious waking up to do too.
Peter Bestel´s last blog ..I’ve made myself a teleprompter
Not much I can add to that Peter, other than “THANK YOU!”
We hear the “blame the economy” reason a lot these days as a web host. It is true that the economy has definitely impacted small businesses, especially ecommerce merchants. However, we see a lot of success and perseverance for these SMBs as well.
The ones that seem to weather the storm have adapted to the new environment, or, have marketed their offering in such a way that their value offering is not tied to market conditions.
For us, we decided not to make any drastic changes in response to a slower market. We continued to innovate, introduce new products, and kept providing our service as we always have. We saw other hosts drop prices through the floor, offer gimmicks, and cut corners to make things work. It didn’t seem like the right move, and many of them struggled greatly.
But as you said, the key is to look at yourself and your business, and figure out what changes you have to make in order to survive and thrive.
Rob Mangiafico´s last blog ..Extended Validation EV SSL Certificates – Should Your Website Have One?
As you say Rob, the desire to adapt is key.
It’s also good that you did not join your competitors in the “race to the bottom” with prices.
Hi Jim,
When the pressures are on and fires are ranging, it can be almost impossible to see the obvious – you can’t seem to see the forest through the trees. A fresh set of eyes by someone like yourself is exactly what is needed to turn things around.
Many times, under these circumstances, it is common for business owners to believe they can’t afford to pay for someone to help them out of a crisis or failing business, when in reality, they can’t afford not to. There are answers for every problem or situation out there. In many cases, the answers are right under your nose. But, if you can’t see them, they will do you no good.
What I’ve learned the hard way – take bold and necessary steps to secure another set of eyes that can provide real answers and solutions to turn your situation around. Otherwise, there will be regret, pain and suffering attached to the loss of your business that could have been avoided.
You make an excellent point my friend!
I speak with business owners frequently, who went broke ’saving money’ by trying to market their business, in the worst economy in living memory, without expert help.
As you say, the answers are all here, only a few bother to look in the right places.
Thanks for the comment Mark.
I have always known that I was my worst enemy. My current post discusses how I basically ignored marketing for most of 25 years. My business survived, but didn’t thrive. My referral base and repeat business has always been strong despite deliberate (well maybe not deliberate) sabotage by me. The decisions I have made this year will change that.
Julie Walraven´s last blog ..Brand Confusion
You make a good distinction there, Julie.
There’s a MASSIVE difference between thriving and merely surviving.
Most small businesses reach a plateau and then stay there until they go broke or they can’t borrow any more money.
It’s so sad and unnecessary.
Hey Jim,
As the old adage goes, “To blame is to be-lame.”
Every time we point the finger of blame at other people or other circumstances, there are always three fingers pointing back at us.
Last time I looked, people have wanted a bargain since money was invented (or before!).
Let’s create overwhelming value for customers – it’s blame-proof!
Best, Robin
Robin Dickinson´s last blog ..Building relationships: a question of quality over quantity
Thanks Robin. Of course, another issue with blaming outside forces for our problems, is that it takes the power to improve thing away from us.
We certainly cannot control everything, nor should we want to (it would be sooooo boring.) However, when it comes to our business, career or finances – we need to put ourselves in the driving seat and go drive somewhere worth visiting!