According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months.
I want you to be the two out of the 10 that succeed.
So today I’ve got the five biggest problems—with SOLUTIONS—that I have seen after 25 years in business and a series of mini master classes in business development this past summer.
After two and half decades, I see consistent patterns of what’s working, and what’s not. And today I’m sharing the best of what’s working in online marketing today.
Make sure to leave me a comment: Which one of these five things are you excelling with? What’s one area you need to improve?
You are not only an outstanding teacher, organizing information in a way that it can be applied, but you are also an example of everything that you teach. I also appreciate that you emphasize THE BASICS, THE FOUNDATION of a real business….what leads to long term success and sustainable growth. I also would say that what most people who have not had their own businesses may not realize is the importance of RELATIONSHIPS to the longevity and thriving of a small or large business. Anyone who has been in business for a long time knows that those relationships are crucial…all kinds of relationships…not only with customers, but with the community, with advisors and mentors, with staff and support people..Nurturing relationships and doing business with people who share core values makes being in business a creative, joyful and prosperous journey of on going growth and meaning. Pam, you have had an ENORMOUS influence on me and my journey. Deep bow of gratitude and respect.
You created another piece of excellent content here, Pam. I relate to all 5 problems in developing my online business. The one solution I’m great at is #3: Getting Help. I have invested in the expertise of others to help me so that I can create assets for my future. This “front-loading” process has felt risky at times, but it is paying off in so many ways. The one solution I am working on is #2: Not Having A Clear Pitch. Your 5-step example is excellent. Thank you for helping me so that I can improve my ability to sell what I do. You’re the best!
Wow . . in February it will be 5 years since the day you looked me in the eye and said: “You must acknowledge and own that what you do has great value and people need and want your services.” You gave me permission to proudly share my gifts and accept payment for the sharing. So yes, I too can relate to all 5 problems, but the one that spoke to my heart and changed my life in amazing ways is #1. I now know the value of what I am selling, I now believe in myself and thanks to you, beautiful Pam, I realize that rejection is not personal. My life is now my dream, and for the rest of it, I will share, and give great value back to those I work with. As far as finding someone I respect to listen to, I found that person, and it’s YOU!!! Thank you for all that you do for so many people. (I found a picture of me on the “Hot Seat” yesterday. I looked like a lost puppy and you were reading my story. . . . I smiled in remembrance, and blessed the day you came into my life.)
So we’re now told by the great Peter Drucker that, “Results are gained by exploiting opportunities, not by solving problems.” Well, I’ve been told by highly respected marketers like yourself, Frank Kern, Andy Jenkins and Ryan Levesque that we need to find out what peoples biggest problems are and then solve them!! I really despair sometimes 🙂
Ultimately, Dave, you have to get all the input and make a decision about what to do based on what you believe is right, or right for you. I’ve never heard Drucker say that, however, I disagree. Especially as a marketer. the fact that you had a reaction to it all says that you probably know what’s right for YOU in your heart of hearts!
Another great piece of content… I excel in seeking help from others having invested in lots of your products, those of others and having a great mentor. I need to drastically improve making offers that sell (sub area of overwhelm). I’ve done what all the gurus advocate which is enter a niche that I have passion for and credibility in and on the face of it is monetizable given the number of magazines, physical goods and coaching available. Unfortunately, it’s a freebie seeking, tips based niche that I can get leads for from Facebook for just over $1 but which regards any type of offer however irresistible as snake oil selling!