Tired of feeling like you’re constantly spinning your wheels but still not seeing the growth you want in your business?
You’re not alone! The truth is 99% of entrepreneurs go through this and it’s because of these sneaky things I call “Business Destroyers.”
I’m sure you know what I’m talking about.
You constantly feel overwhelmed with too many ideas, trying new things without seeing results, and taking one step forward but falling two steps back.
You’re stuck working hard but your business is still not growing.
I was in the same boat and I decided to consult my business coach. My coach took a close look at my business and shared 5 important lessons that opened my eyes and helped me get a clear idea on how to move forward.
Here’s a brief overview about the 5 lessons before you watch the video:
1. Many entrepreneurs are ‘blinded’ by this well-known syndrome that can sap all their energy, preventing them from focusing on the right thing. Once you understand this, you will finally ‘see the light’ and catch yourself from falling into this trap. (I threw in a couple of puns there which give clues as to what this syndrome is. Take a guess before you watch the video for the answer.)
2. The next lesson has to do with understanding yourself and your team. Then you’ll know exactly which areas to focus on.
3. We all love our clients, don’t we? This third lesson has to do with ‘letting go’ and how sometimes this is a necessary evil when dealing with clients.
4. If you’re just one of many businesses in your industry that’s providing the same kind of services to your clients, that could be why you’re not growing. This lesson reveals how you can stand out.
5. In this last lesson, my coach helped me see how I can potentially boost my revenue – just by focusing on the right element in my fee structure.
Are you ready to learn how to finally move the needle in your business and achieve the success you deserve?
Watch this video to discover the 5 ‘Business Destroyers’ that can hinder your success and how you can overcome them:
Whether you’re just starting out or have been in business for a while, you’ll get some insights to achieve the business growth you’ve been dreaming of.
Transcript
Hey, this is Terence from Radical Marketing here.
I want to share a very interesting conversation that I had with a business coach that is a friend of mine and also previously a client of ours as well.
And, yeah, basically I just want to share some very important lessons that I can apply to my business, and maybe you can get some ideas here for your business as well. And I think they’re very powerful lessons that we can all apply to grow our businesses.
The 1st Lesson:
‘Shiny Object Syndrome’ is really bad.
I’ve been hurt from it this year, just seeing opportunities everywhere and jumping from one opportunity to another.
And I guess that’s in my nature because I’ve done a Kobe test, one of those personality tests, and I know that that is my tendency to jump from one project to another and do multiple projects at the same time, which I am totally capable of, but it is not the best use of my resources.
So from now on, what I’ve decided, yes, we just focus on our main projects, which are the coaches, and if we want to just do one side project at a time rather than do three, four, five side projects at the same time, right?
Yeah. So that is one thing that I’ve learned from him as well, because he was in the same boat where he had a partner, where they were just doing one project after another, and they were juggling like, seven, eight projects at once.
And he just like to know what was happening after a while and what was profitable, what was not, because he was so inundated with work that he lost track of what was going on.
And eventually, that business became unprofitable because they were not focusing on the activities or the projects that gave them the most money and the most profits.
So that is a very important lesson. Many entrepreneurs maybe like me and like you out there, you’re probably suffering from the Shiny Object syndrome.
So just a reminder just to focus again. All right, so that’s the first lesson.
The 2nd lesson:
Simplicity.
Just focusing on the activities as well that get results. Not just focus on one project, but focus on the activities within the project that gets results.
For instance, for us in our agency, our main thing is that we are very good at filling up events.
That’s one thing. And the second thing we’re really good at is doing launches. I know there’s probably too much, but I just see such a waste and database of most of our clients that I just can’t help myself.
But yeah, so there are two things that we’re really good at, and that’s filling up events and also doing launches. So recently, for example, we helped a coach launch his database.
Basically, we helped him craft the offer. And this is in one of the other case studies, we helped him craft an offer, launched a project, and at this point in time, it’s going to bring him 1/2 million dollars in revenue and projected revenues and potentially up to $1 million in projected revenues.
And that’s just through a series of email launches. So we’re pretty okay at doing that. Right. And other launches we’ve done past month, we’ve done a couple of hundred people to a challenge, actually two challenges where there were just over 100 people signing up for the challenge. And that’s like totally no ad spend.
So anyway, I digress, but those are the two things that we’re really good at. And yeah, I think we should focus on those things because that’s the main thing that gets our clients results and also pays the bills for us.
The 3rd lesson:
We should be focusing on your best clients.
Get of the clients that are probably not very profitable and focusing double down on the clients that are profitable.
And yeah, this is a big *** of me because in many cases I have this personal relationship with the client and I really care about them, I really care about their success.
But for whatever reason, sometimes I don’t want to divulge too much information, but for whatever reason, it’s hard to get results for them.
So, yeah, probably in this case, I think he’s right, I probably should move on because if we’re not getting fantastic results for the client, they should move on to find someone else who can.
And we should also move on and get results for other people who are basically going to work with us properly and absorb our advice and who are willing to just test out different things that we suggest and get results. Right. So I think it’s a win-win on both parties.
So, yeah, there’s something I need to do within ourselves, within our agency, that we need to basically get rid of clients that have become that weight over the years.
It’s not easy, but I think this is something we need to do moving forward.
The 4th lesson:
We should consider repositioning ourselves to stand out.
And as you know, in the sea of instant marketing right now, there’s a whole bunch of marketing agencies.
So what he said is to start thinking of ourselves and start looking at how to reposition ourselves, not as a marketing agency, but as a scaling partner, which is actually what we do for our clients. We don’t just run ads and build funnels, right?
We actually do advise them on what to do. And in many cases, when we advise them and they take our advice, they get fantastic results.
So yeah, I think this is something that as Radical Marketing as an agency we should consider seriously doing, looking at ourselves and repositioning ourselves as a scaling partner rather than just a marketing agency that does ads and funnels, right?
So, yeah, that’s the other thing I learned and that we’re looking at doing it because ultimately what it is, is that if we are positioning ourselves as another marketing agency, there are tons of marketing agencies out there, right? What are the differentiators from the rest?
But the thing is we do provide a much more comprehensive range of services and advice to our clients that many other marketing agencies don’t bother with.
They just run ads, Facebook ads, YouTube ads, whatever, but they don’t really look at the strategy of the client, which we do in many cases. So, yeah, I think he’s right that we should look at repositioning ourselves as a scaling partner.
And the final thing is that one of the key things in our agency is that what we do is that we have a retainer plus success fee model, right?
The retainer fee could be just a couple of thousand and then the success fee is a percentage. He said one thing that really struck me is that, your retainer fee should be inconsequential in the scheme of things because you’re generating so many results.
And for our best clients that is so true because the retainer is a very small percentage of the total. And I think that’s what he was saying, that first of all, all the things that he mentioned just now.
And the other thing was to just focus on getting results for clients and so that we are profiting based on results, right?
And I think that is so true and that’s something we really need to focus on and talk about how we can just focus on purely generating results and as a result, actually making the bulk of our revenue from the results that we generate because we’re working as a partner, right?
The retainer should just be a small percentage of the whole thing that we get from our clients or our partners moving forward. So those are the lessons we learned.
And I thought I’ll share this with you because maybe just one or two of these ideas are useful for your business.
And I hope that added value in this video.
So please do comment if you’re watching this on YouTube or our blog.
And yeah, I hope to see you in the next videos that we produce for you as we share more ideas on how to grow your business from Radical Marketing.
Thank you so much for watching
