What do you think causes sleepless night for business owners?
I spoke with 150 small to medium sized business owner operators and asked a simple question;
“What keeps you awake at night?”
Here are the top 10 answers, many of which appeared multiple times.
- Downturn in sales
- Finding and keeping the right staff
- Lack of quality leads
- Scary monsters
- Declining profits
- Cash flow
- Not enough hours in the day
- Supplier demands
- The competition
- Bad debt
Seriously… number four was scary monsters!
At least this shows that despite the many challenges we all face in business today – maintaining a sense of humour is vital. At least that’s how I interpreted the ‘scary monster’ answer.
A downturn in sales may not be the end of the world, if profits margins remain solid and you keep costs under control.
The problem is, those reporting a downturn in sales as a principle worry, also worried over declining profits. A bad combination and sure to wake you up at 3.30am with the cold sweats. Have you been there? I know I have and it’s very, very unpleasant and unhealthy.
If you’ve just started out in business and everything’s rosy… I hate to break it to you… at some point the 3.30am wake up call will hit you. Unless you take certain steps.
The world has changed – and we’re not going back. Buyers have changed the way they buy. We’re dealing with a more informed buyer than ever before. Have you changed the way you sell?
I don’t just mean are you on-line as well as off-line? Is your website mobile friendly, are you engaging with people via social media, all those things are a given, or should be!
My belief is that in business today we need to fundamentally switch our focus from looking at our sales cycle to considering the buying cycle. See things from our clients perspective. When you stop selling you can begin building strong relationships and allow more people to buy.
Your focus should not be how can I win more business, or how can I boost sales? It should be how can I add value, how can I build trust, how can I build relationships?
This switch of focus and the actions you take as a result will have a massive impact on 4 of the top five worries that keep business owners, perhaps just like you, awake at night. Hey – it might even tame the scary monsters too.
Short notice I know, sorry, but on October 12th in Central London I’m putting on an event that could help you get to grips with how to sell more today by being less “salesy”. How to help more people, build trust and as a direct result increase your profits.
Buyers have changed the way they buy – if you want to sleep soundly at night – you must discover the new rules of sales.
And as for ‘not enough hours in the day’… rubbish. Thats all down to a lack of focus and my Power Hour strategy combined with my SatNav program will fix this for you too.
Here’s a link to find out more – but you will need to be quick, I’ve kept the event small by design there are only 25 places and half the seats are already gone.