Growing your business is like running a never ending marathon; there is always more road to run along no matter how far you’ve come.
And just like a marathon you are energised at the beginning and get tired, even totally exhausted on route.
Just like running a never ending marathon your desire to keep growing your business will wax and wane.
What tends to happen
What tends to happen when you grow your business is that you’ll take a ton of action to get away from an acute pain point, which is usually a lack of clients & money.
As that action pays off and the money starts to flow into your bank account the amount of action you take starts to tail off and eventually plateau.
This happens almost subconsciously and keeps you at a revenue/profit position which is less than you want but just enough to pay the bills. So you have removed yourself from the acute pain.
But that sucks
That’s not an ideal situation as no-one sets up in business aiming to keep themselves in “just about enough” money while no doubt still having to work really hard.
But here’s the thing….I bet you could write down 5-10 names of people/businesses that you know could really do with what you sell, but for some reason you haven’t approached them or continued the conversation with them if you’ve already had some contact.
If your life depended on it you’d do it
I was talking to a very new business a few weeks ago and like most new businesses cashflow was a challenge.
I asked them how much revenue was in their sales funnel (so if all the opportunities they were currently discussing with prospects all came off how much revenue would they generate) and it was a chunky amount.
I then asked how much additional revenue they thought they could generate, beyond what was in their sales funnel, if they went “all out” on all their marketing platforms, tapping up all their contacts etc.
Again it was another chunky amount.
It demonstrated that their challenge wasn’t a lack of opportunity.
In my experience there rarely is a lack of opportunity, but we convince ourselves it is!
What causes the lack of money in business bank accounts is a lack of action to go nail the opportunities.
Why don’t we take that action?
It’s the usual issues but primarily fear of leaving your comfort zone.
If you can cope with “ok” money then that’s where you’ll stay.
What opportunities would you go after if your life depended on it?
What opportunities would you pursue if you had no money in your bank account?
I guess this is the business equivalent of “if you only had a year to live what would you do differently”.
Running an average business generating less money than you really want or need is just as time consuming as running one which is flying.
Which one do you want?
Go and write that list of who you know that could do with your services and then act on it! It’s easier than you think.