I literally don't know what to do next. Am I capable of being a business owner?
I'm working full time trying to get my small business to attract customers. I think I have a good social network presence, but I'm finding it difficult to continue taking action and push forward. I find myself waiting for customers. I know that ain't gonna happen unless I take action every day.
Try some email marketing, commissioned sales reps, whatever it takes to establish your business. Then you'll have more ideas about what will work etc.
Find your local Small Business Development team. SBA has them all over the country and a good place to start. They will help you develop the business plan. Then sit with your financial advisor, CPA, and discuss it and own it. If marketing is your challenge, then you need to overcome that. Do you have the working capital to support the start up time? If you don't know a visit with your CPA is in order. How about doing some seminars to engage with your target customer? If you are in retail, a trunk show?
Do you have business and marketing pans? Do you have a coach or strategic advisor?
Who is your target market and have you defined your ideal client to determine their pain points and a solution to solve them.?
Yes. You are capable of being a (successful) business owner... Because you asked for help.
Unsuccessful owners think that they are the smartest guy in the room.
It appears you have a marketing problem. If you provide details of your business, your value proposition, and your market segment, perhaps we can help.
I am working with someone in the exact same situation. The good news... having a 'day job' while getting a small business started takes some of the financial stress out of the effort - versus just having to get a small business going to make a living. It also gives you a chance to see if there is a market for your product/service before going 'all in'. The fact that you are not getting customers either means there is no market or that you are not marketing properly.
The downside is that getting a small business started will often take more than full time to do so. So things will be slower for sure. I am working with my client in the similar position to ensure there is a demand for his product and to make sure that his marketing is sharp and effective. People are so bombarded with ads these days that the message has to be more than just good... it has to be sharp as a razor.
I had an online training event last March on how to create KILLER marketing messages, and am doing one this week on how to put all the marketing pieces together in order to have a KILLER marketing campaign. If you have any interest, message me and I will give you information. And actually, if you want to watch a recording of the KILLER Marketing Message online event, you can go to this link and download it: http://bit.ly/MessageRecording
I think you already have the answer: "I know that ain't gonna happen unless I take action every day." So, do you have a detailed action plan? And if yes, is it about the motivation or is it something else?
Selling is not for everyone and I've found it to be very hard for amny people to accept rejection,,, My rule of thumb is:
10 calls=5 opportunities=close 3 you are batting 300 and they are Hall of Fame numbers.. Understand you have 7 rejections out of 10, are you OK with that?
In sales you must have the energy to keep pushing forward,,,, Market what you sell and Sell what you Market....Think Outside in....
Well, thats not what an Entrepreneur does. He can never wait for customers to knock doors. You need to reach out to customers and NOT WAIT for them to come to you. I don't know what business you are in right now, but I can say, only social media promotions may not be the right channel for your business success...you need to work on the traditional route as well.
Entreprenuers are some the multiverse,multi -talented and diverse people. They try to perform different roles at same time like they are the project managers,a risk taker, an accountant, a marketer and a salesman etc.
You need to first see whether you have capabilities like these then you can be running your own business.
If not, then probably since you have already invested in your business, you can rest as a Business Owner and hire a person or consultant to be the CEO of your company and take it to success.
Being in business is going to require long term commitment and sustained efforts.
Not getting customers does pull you down and feel low at times.
Instead of trying to wait for them reach out to them.
For your skills there is always a demand .
Just keep at it and you will start getting leads.
Can you widen out your reach in some way? Are you just working with the same clients offering the same products
Can you look at offering your existing products to someone new? Or try out some new products with the existing customer base?
Reading through some of the responses it appears some great tips have been passed along business ownership. Regardless of the business type the trigger that drives behavior is self image. When you look in the mirror do you see the person that is capable of being a business owner? Your analysis of the person you see when you looking in the mirror is what you hold as your self image. Within your self image is the intrinsic motivators needed to drive action forward.
Let me share a quote from Will Rogers "Even if you are on the right track, you will get run over if you just sit there."
Again, let me stress that the answer to your question is in the self image of the person you see when you stand in front of a mirror.
1) Do you have a business plan? 2) if yes what is working and what is not working? Concentrate on the parts that are working. Are you selling or asking questions of your potential clients.... Their feedback is a guidance tool......Have you established the need fro your product or service. Go outside you social connections to get the real truth. If you Want to talk I am available.... experienced in start ups and "turn-a-round" operations.... All with successes.
Dear Jim Clark
My personal opinion is yes if it's about running a business you should take action everyday. On behalf of your questions, I can't understand what type of business you have? You must have to fix how you want to improve your business by formation, it could be a company, sole propiter, joint farm etc. Then you can plan on its be half. If it helps you then we could discuss more.
Don't fret, take a vacation for couple of weeks, solution is inside you, just relax, clean up your head from garbage like your question above, allow the solution to come.
What are you passionate about? Check your strategies to attract customers. But all this will happen when you introspect, believe in yourself and set your goal. Being helpless is not the solution. 'Believe that it will happen..you will see it happen. you have to work on yourself first and take action. FLORENCE MACDONALD
Hi Jim. You may take the assistance of a executive / business coach to help you with this.
Entrepreneurship is a tough and lonely journey and its takes some time to establish yourself. It would be great if you share a little more insights about your business. You can also connect with me via LinkedIn for a detailed discussion.
Hi Jim, May I give you a very prudent suggestion. Change your profession / business. I read all the suggestions trying to help you regain your confidence, see how nice people are they do not want you to quit for the time and money that you must have invested into your business. In my opinion there is no need to live on hope as the cost of survival becomes higher and unbearable at some stage.
My experience is to leave the opportunities behind that do not compliment your style of working, explore and move ahead with new opportunities.
In today's competitive world you have to have enthusiasm to perform and for that you must earn something, if that is not happening then it is not advisable to spend more time on speculation.
My suggestion may not be pleasing to read but I am writing from my experience as I have seen many loosing all their worth after getting into the situations like the one you described by not using their guts to quit and save whatever they have but consumed their guts till they lost everything.
Good luck and use your networking presence to explore new opportunities.
Hi Jim, if possible, please share more details as what are you doing and what are you looking for. I believe, you need some pro-active partner who can help you out to drive your business.
It is more difficult than many would lead you to believe to build an online business. I suggest you start local, a conversation at a time. This will keep you active and give you the chance to build real credibility and testimonials. What is your value proposition / promise to your customers? Do they care? If not, why are they not responding? What is not resonating in your presence and messaging? Whoever is on your list right now, ask them something to this effect. "What's your next level [related to your industry]?" "What's keeping you from getting what you need?" "How can I provide more value to you?" First you need to know what's on their minds. Then you need to adapt to meet what they're telling you.
You seem to have answered your own question. Being a business owner means perseverance, hard and smart work, taking massive action, planning, marketing and networking on a continuous basis.
Ask yourself whether you are doing them effectively?
If not, are you capable an willing to do them?