I read a really sad article on Facebook last week. Another business was closing their doors.
The business owner made a really telling comment …”I’m not afraid to admit that I may be a good butcher, I may be a good manager, but I’m not sure that I’m cut out for everything that comes with running my own business…”
That is a really gutsy statement and I respect them for that. 
Another comment they made was…” With hiking wholesale costs it became increasingly difficult to keep our prices competitive without compromising on quality. Cheaper alternatives were always readily available….”
As soon as you compete on price it only goers one way and that is down – it’s a quick slippery slope to the bottom. Don’t ever compete on price.
You must compete on value, which takes the price objection out of the equation. Here’s the thing – only 16% of people are price driven. 84% will buy on value if they are given the chance and shown what the value proposition is.
If you don’t believe me, go and look out onto the road right now, and see how many Dacia Sandero’s are currently being driven! It’s the cheapest car in the UK at present, yet there are so many other makes and models being driven that are more expensive – because they give the owner some form of value that the Sandero doesn’t.
So, may I reach out and make a plea to those business owners who may be struggling with their business and not sure what the next step may be, and worried they could possibly lose their business.
If this is you, may I ask where you’re currently at…
Possibly you’re not making enough money in the business which is potentially making you anxious, and you’re not sleeping at night. Perhaps you don’t have enough money to pay staff or suppliers, or even have enough for yourself.
Maybe you don’t have the time for your Family, your friends, or yourself, because you’re so busy trying to run the Finances or I.T. or Operations, Sales or Marketing and you haven’t had a HOLIDAY IN AGES because you’re working so hard.
Could it be that business isn’t fun anymore, you have no FREEDOM and you’re tired of the daily grind. This is not why you went into business.!
THIS IS NOT WHY YOU WENT INTO BUSINESS
Many business owners are great at what they do, be it say, electrician, plumber or even roofer. Being great at your job that you love , does not mean that you can run a business or be a business owner.
Business is tough, and it is lonely. Who do you go to, or talk to, who you can trust, or get impartial advice from?
Let’s think about this. Every sports team or athlete from the Under 8’s through to elite level sports athletes, has a coach or manager.
Why is that? 
These guys and girls are at the top of their game yet they have a coach or manager. The coach doesn’t need to coach them on how to dribble or pass the ball, or throw a javelin. The coach/manager helps the player(s) understand the importance of what is between their ears. Their mental strength – and how to be just that 1% better than the opposition. The coach/manager gives them guidance and a set of stepping stones to get there, and be even better. So they taste more success than defeat.
No sportsperson is without a coach as they know that someone who is detached from the outcome, and will hold them accountable to achieve what they need to be successful, can and will make a huge difference to their level of achievement and success.
Yet people go in to business, possibly never having run a business before, or possibly not having gone to business school, and thinking – “I’m a great at what I do, so I’ll have a great business, – it can’t be that hard!”
And soon they find that owning a running a business is so so different from what they imagined or expected. It becomes all consuming – they’re spending so much time at work that their family suffers.
They’re not making the money they thought they would – in fact they’re probably making less than when they were an employee.
Finally the business drains them so much, mentally and physically, that one day they can’t do it anymore and close up. As happened to the business owner in the article I read.
He goes on to say…
“It was never my intention to end so abruptly, but unfortunately I could no longer afford to invest anymore time, money or energy… I found myself regularly conflicted between my work (in which I was hugely passionate about) and my home life,…”
If it’s good enough for sports people at any level to have a coach or manager then it behooves us as business owners to also seek advice from someone who has done what we intend to do, and is someone we trust and is authentic.
You need someone who has run a business before. (not someone who knows the theory) Someone who has been in the ‘trenches’ and knows how difficult running a business can be. Someone who has fallen into the potholes of business and dragged themselves out, learnt and moved on. This person can help you.
Find that person and do exactly as they say. It will be tough and there will be potholes on the journey, but with a mentor beside you, you have more chance of being successful than trying to do it on your own. Ensure they hold you accountable to “get stuff done.”
Here’s a stat for you.
80% of start-up businesses fail within 2 years. Of those left, 80% will fail by year 10. That means only 4% are still going after 10 years – and here’s the kicker, only 1% are actually making good money.
Please, if you are a business owner and struggling with your business, find a mentor right now, who can help you, will hold you accountable to do the ‘business stuff,’ Do exactly as they say.
Don’t procrastinate – you’ll be the poorer for it.
If you’re on the cusp of losing your business, or struggling for money and/or time, reach out now and get that advice and guidance you need and require to be successful. You may just save your business. And be prepared to invest in a good mentor.
Invest in yourself. Yes, it will cost you money and time. However it is an investment in yourself because you will get to have a great business, making even more money and giving you your time back, for yourself and family, more quickly than trying to do it yourself. Guaranteed.
