The fact is that people make many mistakes in business, which is why 80% of businesses that have formed this year will of gone bust or ceased trading within five years. That’s not because of the coronavirus or the current economy that’s in tough times.
So, what is the biggest mistake people make in business? There are clearly many mistakes, and whilst within this post and video I’m not going to discuss all of them, I am going to discuss what I believe is the biggest reason that businesses fail. Before I do so, I want to clarify one thing, and that is – I’m not just saying this because I’m in marketing. I’m saying it based on my 26 years of experience working with thousands of businesses in hundreds of industries and seeing the same mistake being made again and again and again.
That mistake is not being good enough at sales and marketing!
Let me ask you a question – on a scale of 1 to 10, with one being awful, five been average, and 10 being truly outstanding, how good are you and how good is your business at selling and marketing the products you provide?
The truth of the matter is that 99.9999% of the businesses that I come across could definitely improve. They could improve their website. They could improve their social media. They could improve their email marketing. They could improve their advertising. They could improve their effectiveness when they go out networking and when they attend exhibitions, et cetera, et cetera et cetera.