Without exception, the most common scenario that hinders business growth is a thing we call the “Time-Poor Factor”. Whether we’re at a business networking event, briefing a client over a coffee or just out and about, the “Time-Poor Factor” seems to be “the norm” if you are in business.
However, when talking with our clients, the issue is actually something else. Something very easy to put your finger on, and the pathway to discovering it is actually very simple.
Here’s the process…
It takes just a minute or two, won’t cost you anything and doesn’t require another APP or password to remember either.
This, is the most powerful Business Growth Analysis Tool you'll ever use... seriously!
Let’s do it now!
Grab a blank piece of paper and draw a diagram like the one on here.
Ok, The dot in the centre represents the point from where you begin your effort, spend of resources, time and money on each of these three base areas of business.
An equal sided triangle represents a balanced business that spreads roughly an equal amount of resources on their Craft, Admin and Promotion. A business like this grows with stability, structure and a storehouse of resources for product development and security during the tougher times.
The diagram below shows the average analysis of 90+% of our clients when we first meet with them.
Like I said, it’s so easy, your kids can do this.
This second scenario is the result of a business spending almost nothing on marketing and less on administration than on their craft. The area/size of the business is significantly less, along with a lack of stability and the ability to grow.
Most business owners spend massive amounts of effort, time and money on product/craft development. After all, if you are going to make money from doing what you love, you had better be the best or at least up there with them, right?
To stay in business, you also have to have the Administration side of things locked in. Things like your accounting, bookkeeping, industry compliance accreditations, industry association memberships, business structure, bank accounts… and on it goes.
I think we’d all agree that when we just tally up everything we have to do just to feed these two key areas of the Business Triangle, we’re not surprised that our heads are usually spinning pretty quick from the moment we wake up.
It’s ironic that almost every business we come in contact with only begin their marketing education process long after they have opened doors, employed staff and spent their life’s earnings on their craft & administration. However, it is never too late to learn or engage with a marketing partner or marketing coach like us.
Am I saying we have to do even more to make our business grow to give us the returns we desire? Absolutely not, but what this second diagram does show us is that by using some of the resources we’re spending on our Craft or Admin could be re-allocated to the Marketing sector of our triangle.
Let’s face it, we love to “be busy, flat out”, it’s our cultural way of saying, I am not sure what to do next, but if I had someone to help me, I’d be prepared to engage.
As a marketing company, we consider it our responsibility and pleasure to educate, equip and encourage our business community to have a balanced approach to business building. After all, business owners spend their lives developing and delivering amazing products and services to the community.
More importantly, business owners train and employ members of the community, helping them to support their families and enjoy a secure future too, so why wouldn’t a business owner want and need to be as successful as they could possibly be?
That’s our mission… “To provide simple, effective business promotion tools for business owners”, and we still love doing it after 30 years!
If you’re looking to engage with more clients - more often, whether online or offline, perhaps we should have a chat?
Derek Antonievich – Business Owner
On Time Marketing Group
VISIT US AT www.ontimemarketing.com.au