Business Owner Tips

Things I Am Learning in this Season as a Business Owner

Quite often, businesses invest thousands, if not more in ad campaigns. While much of it is in messaging and targeting, some of it is also in content. I have some that some ads have wisdom beyond their advertising / marketing purposes.

How You Run Your Business

“There are two kinds of entrepreneurs those who’s business runs them and those who run their businesses…Stop letting your business run you. Start running your business, “EOS (Entrepreneural Operating System)

Beyond the simple quote designed to sell the Entrepreneurial Operating System, I also believe there is great wisdom in this. In every business there are stages of involvement from the 24/7 beginnings to the hands off non-involved retiring owner. But what I have found is in the space-in-between it’s important to move away from the workaholism that can result when a business runs the business owner towards a better work life balance where you start running your business, take into account your mental health, and begin to be able to choose your customers / clients. Not everyone will go on that journey with you but not everyone is called to. That journey however, in my experience, can save your life and your business.

Why Automation May Not Be the Answer to Getting More Business

“People want to talk to people. Not a machine. Recent statistics show that 80% of callers sent to voicemail, don’t leave messages because they don’t think they’ll even be heard. It’s an accurate assumption considering 30% of voicemails never get listened to for at least three days, and 20% of people that have voicemail never listen to it, according to The New York Times.” Abby Connect

“2 out of 3 mobile web searches end with a phone call “Ruby

“Fellow business owners! You may be losing potential customers to your competitors. Whether you booming or struggling you may be losing potential customers to your competitors every day. Business owners here is scary fact: Statistics show that 85% of callers or of new customers looking for a product or service who reach your voice mail simply hang up and move on to call your closest competitor right away. With the internet society’s patience is long gone. As business owners, we invest in marketing, our websites, our brand, and make personal sacrifices to succeed… Giving our potential customers to competitors due to missed calls is not an option… Having a live person answering calls can boost profits up to 95%. It’s time to stop giving your competitors your missed opportunities. Stop losing opportunities!” Abby Connect (Several ads compiled)

While you don’t want your business to run you, it’s important to understand that when a potential customer calls your business, a voicemail should be the last option. The more calls you can field live on the first potential customer attempt, the better off your profitability will be. Automation of incoming phone call / internet leads should be the last thing you consider doing because people want to speak to people.

Having People that Can Sell

  • The top 20% of your sales people close 80% of the business.
  • 80% of all sale are closed after the fifth attempt
  • 83% of all sales people – they don’t even ask for the sale once
  • Did you know that 90% of all sales people have never even read one sales book?
  • How many sales are being lost each month simply because your sales people are not professionally trained how to sell?
  • Are your sales people trained on closing or handling objections?

Jason Evans, Power Sales University –

Every call is an opportunity for a sale. Even if it’s simple customer service, customer service can be the best sale you make. It’s important to have the right person on the phone with your potential customer. Sales people should be open to training, open to call monitoring, and open to critique / correction. They should be seeking ways to improve their conversion rates, learning new techniques, and reading sales training material. If the person you have answering your phones isn’t open to this, it’s time to find someone new to answer your phones.

Bonus: Other Wisdom

Stress can be cumulative. Have you been through a Trauma Conga Line? It’s basically as if Murphy strikes trauma after trauma like a falling row of dominoes as the trope goes. It can be in a recent time period or cumulative up to this point in your life or the business. The effect is like the Chinese proverb of water continuously dropping on a rock: 1 drop won’t even dent it but a million will crack the boulder. Whether you medicate / release with alcohol, cheating on your wife, drugs, or another outlet, it all has to come out. If you don’t gravitate to any of those releases, eventually it all comes crashing down in one way or another. It’s important to deal with stress as it comes, not to let it accumulate when it comes to running your business.