|Did you know statistically 80% of entrepreneurs are not making money consistently….and it’s killing them inside?
It’s the truth.
It doesn’t matter if you are an ex-CEO who used to manage a multi-million dollar budget, an inventor with the next big idea, or a creative who wants to change the world, the stats don’t lie.
You may gain a little momentum here and there.
You get excited and think this is the moment it’s all going to be viable.
· a big sale falls through,
· a technical glitch messes it all up,
· you stop using the systems you worked hard on putting in place, or
· you no longer feel aligned to what you are doing…so you stop the hustle just enough for the business to take a hit.
It did for me about a year ago when I was unaligned to my own business model.
I was chasing the wrong ideal clients and creating the products that I didn’t want to be known for.
It wasn’t that they were bad products or low quality, they just didn’t feel right to me at the time.
I was a strategist (I have been for over 16 years of my career) but I didn’t own the title within my own business until a year ago.
Strange, right? It’s actually called “growth.”
You see, I have been working with and studying some of the top business growth strategies from 6- and 7-figure entrepreneurs and billion dollar corporations.
You know it’s not about the 1%ers in business, it’s about paying attention to the 20%…the ones who got this thing called “business” right!
I want to let you in on some key insights that I have learned–specifically 3 barriers to business growth that I have seen over and over again.
The more you are aware of these the more you will know when it’s time to pivot for you.
Business Growth Barrier #1:
1. People become unaligned with their own business models as they grow and it can cause so much resistance.
Many entrepreneurs start hiding and resisting their own growth because they personally have evolved over time and their previous brand doesn’t represent who they are (or who they have become).
This could show up for them in many ways.
For some, it’s their overall business model.
When they started they leveraged or emulated some one else‘s model and over time they learned what worked for them and what didn’t.
For example, they may have started off thinking they wanted a full digital business model and now realized they miss people—teams –and in -person interactions.
They realized they hate launching and want to be speak more and convert off stage.
Other’s may have realized that they have evolved over time, and the ideal client that used to be targeting is not the person they want to serve now.
So, this means new copy, new products, new price points, and building a new tribe.
So, how do you know if you are creating any resistance in your business for your own growth?
Step back and do a personal business audit.
Look at what you are doing now and where you want to be 5 years from now. See where the current gaps lie and if they are impacting your growth.
Take these learnings and stop chasing other people’s business models. Build your own that aligns to your strengths and builds products / services that you feel 100% aligned too.
Build one that speaks to you and your ideal client.
It’s not about starting over, it’s about pivoting–which is 100% of what the other 20% have done as they got deeper into their business.
I recently learned Airbnb pivoted 6 times before finding their market fit.
Is it time for your pivot?
Own it, declare it and go.
It’s not doing anyone any good for you to be playing on the side lines.
I hope barrier #1 provided you some good insights.
Tomorrow I will share the #2 barrier to business growth.
Hit “Comment” and let me know your thoughts on this and if it has held true for you now or in the past.
PS: If you need clarity on growth strategies for your business, schedule a complimentary call here. Remember, your next move (and passion) could change the world.