Business Tip: Please Make Sure You Know What Your Business Needs Before Spending Marketing Dollars.
If you’re a business owner who thinks you need thousands, hundreds or even tens of leads, then I would like to challenge you to have a deeper look at your business as there is a blind spot. Please let me explain . . .
The key in business is not knowing what your business needs, it is understanding why your business needs it. This is best explained with an example.
If you need leads then you potentially have a retention problem as you need to keep topping up your numbers. But why do you really have a retention problem or is it specifically:
- A poor on-boarding process?
- A service delivery that is full of friction causing client and member angst?
- A pricing model that is old and inflexible?
- A team member who disengaged? Or
- Another reason?
- Another one of multiple reasons?
Oh and if retention is fine and you still need leads, then you have an income problem. This could be solved by looking at your expenses, changing pricing or a myriad of other factors all before having to spend money on marketing for leads.
The real reason you need leads is lurking in your blind spot.
A blind spot is a part of the business you cannot see. And just like not checking your blind spot when you drive, not checking your blind spot in business can be fatal. You can be wasting hundreds and thousands of dollars trying to get leads or in marketing or in another area of the business and still not fix the problem.
You have to find what’s in your blind spot.
The best three ways to find that blind spot:
- Compare your business to other similar businesses;
- Have someone else check your blind spot for you; and
- Step out of your business and work on your business – regularly.
You can do all of the above at no cost to yourself. You just have to be prepared to ask yourself difficult questions, dig deep and then go searching for the solutions. It is possible and you can do it with energy, enthusiasm and embracing risk.
Another option is we can work together on a REX Roundtable or one to one business coaching.
Together we’ll answer those difficult questions.
Together we’ll plot a path.
Together we’ll harness that energy, enthusiasm and embracing of risk to enhance your business and give you some balance.
Together we can chat no matter where in the world you are – click here to make a time for us to chat.
Justin is the Managing Director of Active Management, which he began January 2004. He offers coaching to businesses worldwide in everything from start up and design to marketing and sales systems. Justin also facilitates four Australian and New Zealand ‘fitness industry roundtables’ events, which allows him to see a huge cross section of business models.