5 Reasons Why Your Business Is Failing
It's happy hour where's everyone at?!
The open sign is lit, it's a nice day out, and you have specials going on and it's empty. What's going on? If you have been there more times than you can remember, stay calm. Also keep in mind that a business failing is still a business, in business. However, you do need to change.
"Insanity: doing the same thing over and over again expecting different results"
- Albert Einstein
1. Lack of Effective Marketing
The biggest opportunity you have to change is marketing. Not every business owner is a natural born marketing pro. In fact we've come to find out that the know it alls actually don't know much. When you have jobs on the line, and your business is in jeopardy. Somebody has to take action. Yes marketing is absolutely an investment in time and money. Being decisive about making that investment will reap you the reward in the long run.
2. You Don't Know Your Demographic
This is critical because how else do you present a solution for a problem if you don't know your demographics problem. How do you show them they have a problem if you don't know who they even are? Think of an ice-cream man, he drives through the streets knowing kids are out playing and their parents with their wallets are nearby. The point is you may be that ice-cream man driving down the business district rather than the neighborhood.
3. Get With The Times
Things are heading in a new light and thats social media. If your company is not active on various outlets then you are doing damage to your company and to your image. There should be a strategy in place for your online social campaigns. Don't be that company that talks about themselves all the time. Or that company trying to get "likes" saying pointless things to stay active. It's more of a hub, full of people that recognize your company and want to follow it. Give them content worth following.
4. Know Your Margins
If you are busy with more work than you can handle but you can't seem to pay the bills or your staff than you have a pricing issue. Pricing products is a much easier thing than pricing services, that being said it would be everything should be factored into your cost of operations. Internet service, heating/cooling cost, salary, cost of goods, office lease, etc.
5. You Don't Seek Help
Business is an acquired taste, allow a business connoisseur plant the seeds of success with the soil provided by Brangerine. We are a team of driven entrepreneurs, designers, business connoisseurs and social media strategist ready to deliver and steer your company back into profit land. Request an appointment today.