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Top 7 ways to lose money in business

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  1. WORKING TOO HARD IN YOUR BUSINESS NOT ON YOUR BUSINESS

If you are doing the lead generation, the sale, the invoice, the fulfilment and the after sales service,( in other words, everything!! ) you will alway be at risk of losing money if you are un-able to do it. If you fall ill for a month or cannot work due to some crisis, will your income end yes or no?

If you answered yes,.. then you need to learn this new skill set of not working in your business and find people to assist you to free you up. It took me 15 years to let go,,.. and stop controlling everything.

  1. NOT MASTERING HOW TO CLOSE DEALS

Without sales there is no money. Let me say that again,... without sales there is no turnover. You have to become excellent at closing the deal. It's a specific skill set and it MUST be learned or mastered. You don't want to have hundreds of leads coming in and not converting them to profits. This would be madness.

  1. EMPLOYING DESTRUCTIVE PEOPLE

There are people out there that just have a destructive gene. These people feel that they are doing you a favour by working for you and will go out of their way to make trouble. Do you have people like this? Believe it or not, they are brilliant at hiding this trait from you at the interview but it doesn't take them long before they start their negative ways. Learn how to find the RIGHT people at the onset to avoid this travesty !!

  1. DOING THE SAME OLD SAME OLD

I am astounded at my seminars when I meet business owners who haven't changed much in the businesses for years and years. Times and things are changing so fast yet some are believing, we only do things "this way" or not at all. The Cloud, online marketing, online services, are just some new things that are occurring yet some hang onto old fashioned business techniques and it's costing them huge ! ( sadly they don't recognise it )

  1. NOT DOING ENOUGH TRAINING

I went out on a sales call with one of my sales guys recently and didn't say a word through it all. I just observed. I was HORRIFIED at what he said to the client. I thought he was good at his job and boy was I surprised that he even closed the deal in the first place. Training of the mind with new info, techniques and higher expectations is key to success. If the leader of the business isn't training him/her self,.. then this will flow through to organisation too ! Get plugged into a higher state of learning

  1. NO SPEED OF IMPLEMENTATION

I'm no genius in business and I know there are people out there with much more brains than me. They think up stuff constantly,.. yet,.. never get things going. I, on the other hand am not scared to do anything and get thing started straight away. I IMPLEMENT faster than most and learn along the way.. Do I make mistakes ? YES! Do I lose on deals or ideas ,.. YES !! The experience I've gained through my mistakes has put me in a magical place and now making money in EASY !!!

  1. SURVIVING NOT BUILDING

There are two mindsets in business. One is, I just want to make it through this year and NEXT year I'll be great.. 
or
I'm going to grow like crazy, make mistakes, learn massive amounts, set big goals and make sure I achieve them,.. employ great people and make bucket loads more money..

Which one are you adopting? Success comes from a growth mindset not a "just make it" mindset..

So for 2018 what have you planned?

- To stop working 'IN' your business and start working 'ON' your 
business ?
- To work for 2 hours a day and double results ?
- To get more paying customers ?
- To increase your prices without losing existing clients ?
- To get the highest referral ratios ?
- To increase your company's value ?

 

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