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Member You - How NOT To Fall At The Last Fence
The 7 Major Reasons Businesses Fail and How to Overcome Them rong>You could say something like:This year, over 800,000 of the approximately 2,000,000 start up businesses will fail!Nearly 1,000,000 of those remaining will fail within 3 years. Why do so many businesses fail? Many studies show that approximately 98% of all failures occur because of the owners. The other 2% are a result of acts of God. Here are the key reasons and actions owners can take to avoid and overcome business failure:Reason #1: The owner is not "The best way to answer that question is by telling you about a client we worked with recently. They were in the same industry as you and were frustrated with rising costs and were looking to make savings so that they didn't need to put up prices to their customers. We did some assessments (they're not interested how) and then helped them make some changes that would make then significant savings". "Within six months by conservative estimates, we'd saved the company 27% on their overall running costs compared to the previous six month period". Whatever the results, facts or figures for your parti Your prospect begins to wonder: "How does this work?" "Will this work for me?" "How long will it take?" "Is that really possible?" "Who else has done it?" "Can they prove it?" If you don't answer these questions, you're going to fall at the last fence. When marketing your services, the biggest challenge for you shouldn't be finding your ideal clients and getting their attention. If you take the right steps to create a powerful personal marketing message and get it seen and heard by those in your target market; that's relatively easy. The biggest challenge is to prove that you can produce the results you promise. And when most Self-employed Professionals are asked to prove that they can deliver results guess what happens? Believe it or not, they start to talk about the process. They talk about how they do what they do. "You can reduce costs by 27%?"… "Great, how do you do that?" "Well we gather all your information together and then we use this great new piece of software called Ezymaster that collates and analyzes….blah blah. Isn't that interesting... No it's not I promise you, a prospect for your services is not looking for that kind of answer - almost never! That's not proof. In fact, it sounds a bit like you're hot on how, but cool on results. What your prospect is probably wondering is: What companies have you reduced costs by 27% or more? Were these companies similar to my company? Was the process relatively easy or long and involved? Did it take up much of the owner's time? How long did it take to get results? How did they measure the actual results? If you can't answer questions like these, as far as your prospect is concerned, you have no proof that you can deliver and they've lost interest. You must answer questions like "How do you do that?" by giving an answer that persuades. The easiest and most powerful way to do this is through "Success Stories" which will make a solid case for your services. You could say something like: "The best way to answer that question is by telling you about a client we worked with recently. They were in the same industry as you and were frustrated with rising costs and were looking to make savings so that they didn't need to put up prices to their customers. We did some assessments (they're not interested how) and then helped them make some changes that would make then significant savings". "Within six months by conservative estimates, we'd saved the company 27% on their overall running costs compared to the previous six month period". Whatever the results, facts or figures for your partic If you don't answer these questions, you're going to fall at the last fence. When marketing your services, the biggest challenge for you shouldn't be finding your ideal clients and getting their attention. If you take the right steps to create a powerful personal marketing message and get it seen and heard by those in your target market; that's relatively easy. The biggest challenge is to prove that you can produce the results you promise. And when most Self-employed Professionals are asked to prove that they can deliver results guess what happens? Believe it or not, they start to talk about the process. They talk about how they do what they do. "You can reduce costs by 27%?"… "Great, how do you do that?" "Well we gather all your information together and then we use this great new piece of software called Ezymaster that collates and analyzes….blah blah. Isn't that interesting... No it's not I promise you, a prospect for your services is not looking for that kind of answer - almost never! That's not proof. In fact, it sounds a bit like you're hot on how, but cool on results. What your prospect is probably wondering is: What companies have you reduced costs by 27% or more? Were these companies similar to my company? Was the process relatively easy or long and involved? Did it take up much of the owner's time? How long did it take to get results? How did they measure the actual results? If you can't answer questions like these, as far as your prospect is concerned, you have no proof that you can deliver and they've lost interest. You must answer questions like "How do you do that?" by giving an answer that persuades. The easiest and most powerful way to do this is through "Success Stories" which will make a solid case for your services. You could say something like: "The best way to answer that question is by telling you about a client we worked with recently. They were in the same industry as you and were frustrated with rising costs and were looking to make savings so that they didn't need to put up prices to their customers. We did some assessments (they're not interested how) and then helped them make some changes that would make then significant savings". "Within six months by conservative estimates, we'd saved the company 27% on their overall running costs compared to the previous six month period". Whatever the results, facts or figures for your parti "You can reduce costs by 27%?"… "Great, how do you do that?" "Well we gather all your information together and then we use this great new piece of software called Ezymaster that collates and analyzes….blah blah. Isn't that interesting... No it's not I promise you, a prospect for your services is not looking for that kind of answer - almost never! That's not proof. In fact, it sounds a bit like you're hot on how, but cool on results. What your prospect is probably wondering is: What companies have you reduced costs by 27% or more? Were these companies similar to my company? Was the process relatively easy or long and involved? Did it take up much of the owner's time? How long did it take to get results? How did they measure the actual results? If you can't answer questions like these, as far as your prospect is concerned, you have no proof that you can deliver and they've lost interest. You must answer questions like "How do you do that?" by giving an answer that persuades. The easiest and most powerful way to do this is through "Success Stories" which will make a solid case for your services. You could say something like: "The best way to answer that question is by telling you about a client we worked with recently. They were in the same industry as you and were frustrated with rising costs and were looking to make savings so that they didn't need to put up prices to their customers. We did some assessments (they're not interested how) and then helped them make some changes that would make then significant savings". "Within six months by conservative estimates, we'd saved the company 27% on their overall running costs compared to the previous six month period". Whatever the results, facts or figures for your parti Were these companies similar to my company? Was the process relatively easy or long and involved? Did it take up much of the owner's time? How long did it take to get results? How did they measure the actual results? If you can't answer questions like these, as far as your prospect is concerned, you have no proof that you can deliver and they've lost interest. You must answer questions like "How do you do that?" by giving an answer that persuades. The easiest and most powerful way to do this is through "Success Stories" which will make a solid case for your services. You could say something like: "The best way to answer that question is by telling you about a client we worked with recently. They were in the same industry as you and were frustrated with rising costs and were looking to make savings so that they didn't need to put up prices to their customers. We did some assessments (they're not interested how) and then helped them make some changes that would make then significant savings". "Within six months by conservative estimates, we'd saved the company 27% on their overall running costs compared to the previous six month period". Whatever the results, facts or figures for your parti "The best way to answer that question is by telling you about a client we worked with recently. They were in the same industry as you and were frustrated with rising costs and were looking to make savings so that they didn't need to put up prices to their customers. We did some assessments (they're not interested how) and then helped them make some changes that would make then significant savings". "Within six months by conservative estimates, we'd saved the company 27% on their overall running costs compared to the previous six month period". Whatever the results, facts or figures for your particular business, if I were you, I'd spend a lot of time developing and practicing these Success Stories until you can tell them with confidence and clarity. Your success as an Independent Professional might just depend upon it. Copyright Anne Duncan 2006
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