5 Questions To Ask Yourself That Will Change Your Business
Change is inevitable, especially in business. What most pro's don't talk about though, are those negative changes and how to deal with it. What do you do when sales are low? When you've lost focus, can't remember your "Why?" and you can't figure out how to dig your business (and yourself) out if this slump. Just because you are experiencing these changes doesnt mean you should just throw in the towel. Nine times out of ten it just means that you desperately need to step back and refocus (trust me we've all been there). Think about your why, what you're selling, the money you're making from it and if you're even still passionate about what you do. Take about 30 distraction free minutes and answer the questions below to help you revive and change your business for the better! (and yes these questions have dug me out of plenty of holes!)
1. Do I really know who I'm selling to? Knowing exactly who your target audience is can completely turn around your business. You can do all of the marketing in the world but if you don't know who to direct it towards, its just a waste of time and money. How old is she/he? Why does she need your product? I tell my clients all of the time to get extremely specific with their target customer. You should know her almost better than you know yourself! One of the many reasons why we get "stuck" in our business is because we've forgotten who we are selling to.
2. Is what I'm selling useful? Lets face it, some of the brilliant ideas that we have may not be as amazing as we think. Sit back and think about if what you are trying to sell is actually useful to our target audience. If not, move on to something else OR figure out how you can re-create it to make it more helpful.
3. Am I charging enough to cover my desired lifestyle? This is something that I constantly battle with but the big picture is, this is a business and a business SHOULD be making money. If your income has been pretty stagnant than it may be time for an increase. It can be tempting to lower prices to attract new customers but do you really want to take on 30 clients per month just to cover rent? How about raising your prices so you can focus on only a handful of clients at a time and actually bring in enough for you to take that summer vacation. Changing your prices and revamping a few of your products or services may be exactly what you need to get your business back on the right track. Charge what you're are worth and never undervalue yourself but don't forget to show VALUE!
4. How bad do I really wan't this? Sometimes we start a business based on a hobby or something that we are truly passionate about, but as we grow that passion may die out. And that's absolutely fine! Sitting down and remembering why we started can either spark that fire in us again and make us "hungry" and eager to put our whole heart back into our business or it can be the final sign that it may be time to move on.
5. What is my plan/goal for the future? Knowing what you wan't, where you are going and how to get it is the first of many steps to having a successful business. Even if you're not the planning type, writing out what you are expecting in your business even for the next month can make a huge difference. I'm a huge fan of speaking things into existence. If you want it, write it out and speak it daily! There is power in words and if you have been feeling stuck in your business maybe you just need to talk yourself out of it (literally)!