The Top Three Things That Can Break a Business

Nov 23, 2022 | Consulting, Management, Small Business

Let's Get It Done

The top 3 things that can break a business are:

  1. Money Management
  2. Lack of Sales
  3. No Operational Manual

Money Management

What happens when you need to know when payments are due and for how much? If you do not have a budget and cannot forecast the future for business growth, you do not have a recipe for success.

Lack of Sales

Do you have a unique selling proposition (USP)? Are you networking and building relationships? Are you consistent with your marketing plan?

What makes you different from the competition (USP.) It is effective if it is tied to what your target audience cares about.

Networking groups are not the same. Some want you to volunteer, have high fees (not always better), do not want you to promote your business and give you no opportunity to do so, or have so many rules that they should not be calling themselves a networking group.

I have found a couple I like. One has great fees when you consider all their offerings and freedom to network, train, build relationships (know, like, and trust) to collaborate, provide referrals, and help each other’s businesses grow because it is a community that does everything to support each other. You can check it out at https://thecibn.com/.

Consistency is the key, and one of the best courses I have taken is the 7-Day Social Media Challenge from my membership with CIBN connect. We created 700 topics for posts and marketing that make it easy to prepare and align topics in an order that makes sense.

No Operations Manual

Seems like a lot of work to prepare and update, but in comparison to what? The hours you spend forgetting to do a process, training staff and their confusion due to lack of knowledge and resources, not having an optimal marketing strategy, not knowing where you are, where you are going, and your values.

The Operations Manual is the survival guide that prepares you for operating your business, growth, obtaining financing, sponsors and hiring staff. Such institutions and clients quickly realize you are on top of your business and know what is needed to become successful.

Special Invitation

I invite you to join me on a 1-hour free webinar on December 15, 2022, at 10:00 am MST, 9:00 am PST, and 12:00 pm EST to discuss these issues at https://cpvprofessionals/get-it-done-webinar/