There is an old adage that if your business isn’t growing…it’s shrinking.
Holding your own doesn’t count… Inflation, overhead, staff all continue to increase. If your revenues aren’t at least keeping up with overhead and expenses, then you’re shrinking. And shrinking is something no business wants. Shrinking leads to a devaluation of the business value, lower profits, and generally a deteriorating work atmosphere.
All your staff senses it and it makes them… well, nervous. If no changes are made, it can lead to layoffs and heavier workloads which actually impede growth.
For most businesses, labor is the most expensive factor…so they try to cut corners. They end up standing in their own way. Without the “right” team, it’s hard to move forward, as business owners, we need their input and insights. None of us is an expert in every aspect of a business - vision, development, operations, and execution.
Every business can get caught in the stretched-too-thin matrix. When you’re busy…like we all are, it’s easy to forget to get creative and think outside the box.
Some owners try to do it all themselves. With over 25 years as a business owner… I can understand, but it’s not the path to the quickest growth and best outcome. I know this from personal experience.
When you’re that busy, and that stressed, you can’t see the big picture and the quality of your output declines. It goes back to we all excel at somethings, but none of us can excel at everything.
There’s another side effect…work-life balance. It becomes tipped in favor of work and your personal life and family suffer.
Or you ignore certain aspects of the business, hoping to get buy via lots of referrals.
In the long run, you never experience the growth and success that you could. You may do okay, but with your mind doing all that multitasking or ignoring, you just don’t get as far.
Some companies have tried outsourcing but the marketer never seemed to “get” their business. Been there had that experience too. You need to make sure any marketing person is well-versed in your market niche. Would you hire a contractor to handle medical issues? Of course not.
Look for someone who has some background or experience in your industry segment. It may increase your investment, but it the return on that investment will be far greater.
Many times the in-house staff is inadequate to handle all forms of marketing that you need.
A staff of one may be trying to handle web content, print materials, social media, email funnels, newsletters, and trade shows… In addition to the time demands, each of those takes different skill-sets and a lot of that is developed through field experience.
Too small a staff increases the multi-tasking just as in the do-it-all-yourself scenario. Quality of results drop and portions of what needs to be kept up to date get ignored.
Because of the time-sensitivity of trade shows, they often get attention while the website and every other point of client contact suffers.
Fresh customer-focused materials whether print, video or digital, never get updated. And in a time where quality “User Experience” is what the customer wants and needs…you’re headed for shrinking.
If you’re in a rapidly growing segment of wellness… just the speed of change can make it difficult to keep up.
We are seeing this with the explosion of CBD products across the country. Rapid growth can have a big impact on the quality of marketing.
When was the last time you visited your own web page? Read one of your own e-newsletters? Reviewed your print materials or support materials for user focus and readability? If you’re like most business owners or marketing managers, the answer is way too long ago.
Today’s prospect is focused on what you can do for them, the customer. Why are you their best choice? What makes you unique and special that will benefit them? If your material isn’t up to date and focused on their needs, you’re likely to lose them.
In my years in the spa-wellness industry, I’ve been your customer. I know many of my vendors NEVER stayed in touch. They just waited for me to order again. That’s not smart business. Not in an industry where there are lots of competitors who would be happy to connect with your client and woo them away.
Need help to get growing again? You need an industry-specific business builder. Want to know more?
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