Five main reasons your business will fail
There are five main reasons your business will fail:
1) No one knows you
2) You’re too small
3) You don’t grow fast enough
4) You don’t spend/invest enough
5) You don’t make enough
Let’s look at these a little more closely and in depth so you can see ahead of time where you have opportunity…
Your business will fail because no one knows you
Obvious? Totally. But is it so obvious that you overlook it? Perhaps you’re not putting enough attention on getting attention. What do you not know about getting out of obscurity? How much effort are you putting in to getting known? Are you 100% certain that you are the goto person in your space?
Also, keep in mind, there are two types of obscurity. There’s the main one, where nobody knows you and then there’s the second one, where they know you, but then they forgot about you.
Have you ever had a family member buy your product but not from you? Ever seen your neighbor with your product but they didn’t get it from you? You’re doing MLM and you find out your best friend’s sister just signed up under someone else. OUCH!!!!
[ACTION IDEA] Study and apply the exact strategies laid out in Grant’s NY Times Best Seller If You’re Not First You’re Last.
Your business will fail because you’re too small
When Grant did the opening Keynote address at The 10X Growth Con 2018 he asked the question, “are you going to expand or contract?” The entire universe is expanding. Why would you do anything different? And to stay the same means you’re actually contracting because everything else is expanding. In the case of growing the business, it usually comes down to there’s something you don’t know about growth and it is in that mystery where fear and doubt live and work on you causing you to hesitate and be careful. Too careful.
[ACTION IDEA] Grant’s Business Builder program contains the core curriculum every entrepreneur and business owner needs to grow the business.
Your business will fail because you don’t grow fast enough
“Speed is power.” This is a core Cardone concept that ties into the first two reasons quite nicely. If you’re working towards getting out of obscurity and you’re committed to avoid contraction, you have to go fast. Our orbital speed around the sun is about 67,000 mph. That’s how fast we’re going right now!!!
You have to align yourself with this energy. Are you thinking big enough? This is The 10X Rule in a nutshell. It’s not just about taking massive levels of action, it’s also about thinking way bigger than you’ve ever thought before.
[ACTION IDEA] Watch and study Grant’s 10X Superlife Webinar for an immediate turbo boost into your thinking and doing.
Your business will fail because you don’t spend/invest enough
YOU are the #1 investment you will ever make. Period. People ask Grant all the time where they should invest their money. They have $3,000 or $7,000 saved and want to know where to put that money. First thing Grant tells them is back into themselves. Second is then back into the business. Over 30 years Grant has been reinvesting in himself and his business and these investments have compounded at a monumental level. The old phrase that it takes money to make money may have it’s merit in that you need to spend and invest it back into yourself and the business. And it is this investment that will give you the one thing that it truly takes to make money and that’s courage.
[ACTION IDEA] Spend 7 days inside Cardone University and see for yourself why it is the #1 Sales and Business Training Platform in the world.
Your business will fail because you don’t make enough
TO INCREASE YOUR INCOME YOU MUST MASTER THE CLOSE. Most salespeople fail in the close because the simply do not have the words to say to handle buyer objections. The lack of understanding in this area will inevitably cause an untrained salesperson lose a customer, and at best use a discount as a way to entice a buyer decision. Only 10-20% of the time you are in a transaction is spent in the close, yet it is where 100% of your income as a salesperson comes from. Bottom line, if you want to learn how to increase your income as a salesperson, you must learn to master the close.
[ACTION IDEA] Take Grant’s Advanced Sales Negotiation Certification course for the most contemporary, up to the minute strategies and solutions to increase your income.
Which one do you need the most help with and looking at your business, what order would you prioritize these for yourself and your company?