Friday, 18 November 2011

What Is The Difference Between Successful Companies And Companies In Trouble?

Have you ever noticed how some businesses seem to do very well, and go from strength to strength, but most just seem to muddle along?

Since I started my business I met many small business owners, and what I noticed is that most of them seem to only implementation, but few reach the level of success that they are really capable of. Some of them end up failing completely, a few tricks from project to project, and some are OK, but can never achieve success or lifestyle they envisioned when they started the business.

On the other hand, I know that a small group of owners of successful service business that are high in 6 and 7 figure income every year (and growing) - and still do not work more hours, their products and services are no greatness better than its competitors, and they are geniuses!

So what is the difference between successful businesses and struggling businesses?

In a word: Marketing

Although there may be other factors that affect the ability of a company or a successful company such as economics, trends, cash flow and quality of product / service or innovation, the number difference between a first division, the companies and their counterparts of evil is good marketing.

Here is the lament of one survey respondent, which is typical of the anxiety felt by owners of service companies who know they do a good job, but who do not understand why they did not file a customer waiting at the door:

"We know our products and services are good - we have excellent customer feedback, we work with - but still have trouble getting potential customers to buy in. Our services provide real benefits to customers, but are not as successful as it should be when see what other companies offer (not much) and yet still very successful. "

If you offer a quality service or product that gives amazing results to your clients or customers, and yet you are still struggling to get all the clients you want or need, or to charge the fees you deserve, you probably have a marketing problem.

What successful entrepreneurs do not have that others do not?

The first thing they do is to realize that their main objective is to build their practice or client base. In the words of Michael Gerber (who wrote the e-myth) they "are working on their business, not their business." What this means is to make time to work on your business - especially in marketing and product development or service, rather than spending all their time dealing with clients, providing services and dealing with the administration.

They also look for areas where they can gain "leverage". In short, this means achieving maximum yield for each hour of work. Instead of opening hours for pounds or dollars, they find ways to do the work once and get paid for it many times. They find ways to market their services, one to many, instead of 0:59 (which reduces the efforts of marketing and sales and time). They delegate the activities that take a long time (but do not add much value compared to moving the company forward) or they are not qualified in the admin, for example, accounting, website maintenance and copywriting .

They also develop a mindset for success, understand their strengths and weaknesses, take risks, to innovate, hang out with other successful people and build a support network around him.

More importantly, they learn how to market their businesses and create a marketing system that maintains a constant stream of prospects knocking on the door, without taking any time to them!