The Biggest Business Mistakes

Greetings South Florida Business!

Are you struggling to attract more new customers to your Dade or Broward business? Do you have a great product or service, but aren’t sure how to let prospects know about you? Do you see your competitors growing and wonder what they are doing to be so successful (even though you know their product or service isn’t nearly as good as yours)?

Chances are you may be making the following mistakes in your business:

Mistake #1

Many business owners in South Florida believe that if they have a great product or service, business will automatically come to them. Well, you probably do offer the best product and you probably do offer great service. You have the best-trained employees, the longest warranties and the most awards. But that alone hasn’t brought you all the prospects you can handle…has it? No! If you don’t promote your business, it will eventually dry up and blow away-no matter how good your product or service is.

Mistake #2

You believe that your business is so different from all other industries. Yes you may be in the “Y” business. But essentially your business is no different from other businesses—be it manufacturing, service, wholesale, distribution or trading. The product or service you provide may be different. But like all other businesses, you’re essentially in the business of marketing your product or service. Hence, marketing should be the most important function in your business.

Mistake #3

You do not differentiate your business from your competitors. Listen…if you cannot say to your potential customer any thing other than “Our pricing is competitive”, “Our quality is good” & “Our services are reliable”, you’re in fact just another ‘me too’ business. Your competitor will be telling the market the same thing. Now more than ever you must differentiate your business today. There are simply far too many choices for consumers. To command a strong position, you don’t have to be the best; you just have to be unique to the market. Any business can do that even your product is a commodity.

Mistake #4

You believe that marketing is a costly expense. And that’s the first item that gets cut when business is bad. Nothing is further from the truth.

Marketing is the engine that drives your business. You should instead invest more on marketing even when your competitors are cutting back in bad times. Marketing doesn’t necessarily entail big money. There are many low cost or even no cost marketing strategies that your business can use.

Mistake #5

You neglect to market to your current customers. It’s an established fact that it costs a business at least six times more to get a new customer than to sell to their existing customers. And yet many businesses choose to ignore their current customers.

You may have focused too much on the first sale when the real goldmine lies in the ‘ backend’ sales. The other things that are supplementary or complementary to the products your customer has bought that you can continue to sell to them.

Mistake #6

You fail to capture your customers’ details. You’ve spent so much money on acquiring your customers and yet you don’t know who they are, where they stay and how to contact them. Since they’ve bought from you, there is a high probability that they’ll come back to you if you have been communicating with them. However, you can’t do that unless you have their contact information.

Do these mistakes sound familiar?

Now, you can avoid making these costly mistakes in your business by changing your perspective on business. A business essentially consists of 3 vital components: Distribution, Marketing and Systems. If you continue to run your business purely from the distribution aspect of your business i.e. by having the best product or service, the world will beat the path to your door, you’ll be in for a big disappointment. On the other hand, when you re-engineer your business towards marketing and systems centred activities, you’ll begin to experience a sustainable long term growth in your business.

So, start building a solid foundation on your marketing knowledge. Lay your hands on any good marketing resource, book, tape, report or manual. It will go a long way in helping you to run your business in a fun and profitable way.

Better still, if you want to cut short your learning curve and accelerate your personal and business growth, speak to South Florida's Business Coach, John Layzell. He is well equipped with a tested and proven business system that will help you make more money from your business and more importantly to have more personal time for yourself!

Click here to receive more helpful hints and tips on growing and improving your business.

To see how South Florida Business Coaching will work for you, contact John Layzell Today (Click Here) or Call 305-899-9963 for a complimentary coaching session or diagnostic of your business.

John Layzell
South Florida Business Coaching

My vision is success and prosperity in South Florida through business re-education.

Call me now at 305-899-9963 to schedule your complimentary coaching session.

John Layzell
Synergis Business Solutions, Inc.
2235 Magnolia Drive
North Miami, FL 33181
Ph: 305.899.9963
Fax: 305.893.3165
Email: Click Here