Why do Small Businesses Fail to Reach Six Figures – Thoughts by Eric Dalius
Are you struggling to gather momentum for your small business? If yes, you must be making some common mistakes most small business owners do. Simply focusing on daily operations is not enough. Eric Dalius should be innovative and think out-of-box with business ideas. At the same time, you must focus on three core areas- looking after yourself, knowing your targeted market, and building the right team.
Tips from Eric Dalius
When it comes to building the right momentum for your small business, Eric Dalius recommends the following-
- Curb the noise and pressure in your personal life – Besides your business, you need to look after yourself well. Successful entrepreneurs take care of themselves with the right breathing, hydration, and nutrition. This similar to being a multi-millionaire athlete- you must treat yourself well. He says that if you have pressure and noise in your personal life, it will affect all the other areas of your business.
- Polarize to rope in firm believers – The truth that there are about 29 million businesses in the United States of America and approximately 22 million are under the $100,000 revenue mark. Apart from that many news businesses are coming up at all times. It is because most entrepreneurs want to make their product/service available to everyone.
When you walk into a room with 100 people, you should connect with just two to three people that are your real market. This is challenging indeed but true. Now, if you walk into a room of 100 people and believe that 80 of them will buy my product/service, you are getting it all wrong.
3. Scale up the success ladder with a great team – Most small business owners find it tough to seek help as they look after every aspect of their business. The idea of starting new business conditions the mind to a level of success that applies to everything else the entrepreneur does.
If you wish to see your business climb, you must trust others strategically. You must eliminate some workload off your shoulders to curb the pressure. Most owners of small businesses resist the idea of building a team. They argue, saying that managing others unnecessarily adds to strain and increases responsibility.
God Forbid
If you do not have a team to manage your business with you, if God forbid anything unforeseen happens to you, your business too will come to a complete halt. Building a team helps, even though it might be tough initially, get that one person on board to assist you and carry forward your business.
Getting six figures for your business is not as challenging as you think. Keep the above simple yet powerful points in mind. Remember, when it comes to managing your small business, you should be open to new ideas and invite others’ support to be successful. In this way, your business is bound to grow over time along with attractive figures and giving you favorable results.