1. No Clear Strategy or Vision – When you’re not clear on why you’re in business or the results your business is delivering, it’s extremely difficult to grow it. If you don’t know the direction you’re going in, it’s very easy to get off track and loose focus.
2. Lack of Systems – A solid business is comprised of good systems. A system is defined as two or more moving parts working together for one common goal. If you don’t have systems in place, your business will fail very quickly. It’s essential to have systems in place for business development, marketing and advertising. We’ve all heard the phrase “Don’t throw the baby out with the bath water.” That same thing applies to growing and operating business. There will always be problems and kinks in the system, but you don’t have to destroy the whole system, just fix the one problem and move forward. If you stay focused on solutions, problems will not be obstacles of progress, but instead they will be opportunities for growth.
3. Lack of Marketing/Advertising – One of the most common pitfalls for business owners is marketing and advertising. You must market and advertise your business or product. If no one knows about you they can’t benefit from what you have and ultimately you don’t make money. To be clear, marketing involves the strategies of obtaining business. Advertising involves presenting your business message or product in forms of media (billboards, online ads, print ads, social networks, television, radio, etc.)
First you should figure out why it’s not growing. Go back to step one and analyze what you did and figure out where you went wrong. This may be difficult to do, considering it is your business and it’s not growing. We strongly recommend that you seek a business consultant.
