7 Mistakes Made By Way Too Many Businesses
In his book, “The Art of Explanation,” Lee Lefever talks about the curse of knowledge, which is essentially a business becoming so insider focused with their language that they fail to adequately communicate to the outside world WHAT their product actually is…and WHY the world should care.
My friend Don Miller says, “People don’t always buy the best product, they buy the one they understand the best.”
#2 – Lighting Matches Rather Than Building Fires
All too often a business is tempted to believe if there is a logo change, or even a complete rebrand then their company will experience a renewal of life. However, moves like this are like someone who is out in the cold and needs heat merely lighting matches when they should be building fires.
However, if a business will take the time to build an amazing culture – they will see an increase in productivity and profits.
#3 – Neglecting Personal Health
I was speaking to a business leader recently who told me, “I travel a lot…and it’s really hard to eat healthy on the road.”
Every restaurant I’ve been to on the road has salads on the menu. Nearly every hotel I’ve ever stayed in has a gym that is NOT crowded in the mornings.
The reason this is so important is a leader can only produce to the level his or her energy will allow them – and when leaders get tired we will often opt for what is easy over what is right.
#4 – Not Maximizing Social Media
Social media has leveled the playing field when it comes to advertising and connecting with customers. However, it’s shocking to me the number of people in business (especially sales) who do not maximize social media.
Often times I hear, “but I don’t know how to use social media!”
I understand – if you are just starting out in the world of social media all of it can be very overwhelming; however, one of the things I began doing to up my social media game is simply hitting up google for the skill I was trying to learn – and there are hundreds of videos that will show you how to be an expert.
#5 – Refusing to Continually Make “It” Better. (“It” being your product or service)
One of the biggest hindrances for a business going to the next level is success!
Because…when a business begins to experience some level of success the temptation then becomes to romanticize the way things are—thus causing them to try to take their product/service and continually make it better.
A good example would be Blockbuster Video – who was able to “make it better” by switching from VHS tapes to DVD’s – however, when a little company called Netflix began to steam video Blockbuster did not take them seriously—and now the only reason any of us have a Blockbuster card in our wallet is because we haven’t cleaned out our wallet in forever.
#6 – Lack of Delegation
One of the things that happens when a small business begins to grow is the founder begins to see big but think small, thus causing him to refuse to delegate because…if you want something done right you need to do it yourself, right?
All too often leaders want to delegate tasks…but if we can learn to delegate responsibilities, with a clear understanding of WHY certain things must take place, then the right people will take things to levels we could have never taken them to on our own.
#7 – Taking Advantage of Current Customer
Cable and cell phone companies are notorious for this…
They are so frantic about recruiting new customers they will offer fantastic deals, but will forget about the current customers who have been loyal for a long time, and if they were given those exact same deals would most likely become a fan for life.
One of the best thing a business can do it figure out what it takes to turn current customers into raving fans – because a satisfied customer is the best form of advertisement in the world.
If you want to learn more about these mistakes—AND how to correct them, then don’t miss the business leaders roundtable I am hosting on Monday, March 20 (here is the link.)
The early bird rate of $499 ends THIS FRIDAY (where it will increase to $799) – trust me, this is one of the best investments you can make into your business. Hope to see you there.