u/Foreign_Tower_7735

I signed up for a free downloadable to help businesses grow and it discussed the 7 reasons that business with big revenue still struggle and I wanted to share this info with you to get your opinion about this.

The 7 frequent mistakes are:

1. A big revenue & no cash in bank!

Due to payment terms of 30 days or 60 days! This is killing your business.

Try: Upfront payment before a product sale or service. Ask for 20% payment before the work. Or get paid with monthly retainers.

2. Big revenue & no profit!!

Your revenue is 100k 200k 500k but your profit margin is close to nothing. It is less than 50k or 30k or even 20k, why?

Because your systems cost you and are inefficient and ineffective too. You have employees salaries to pay. And contractors to pay too.

What can you do?

Look for all the inefficient tools subscriptions that you pay for and eliminate non-productive spendings. Buy effective tools that will help you earn more. Update your business model i.e subscription base, payment per task and not hour.

3. Hiring problems!

You need more people but you are stuck in the hiring process.

You spend months looking for the right person Or you find them quickly and you still need to spend time training them.

What can you do?

Hire a person before your business grows so you can anticipate the need and take less time.

4. Goals issues!

You set goals but your teams are not reaching them and are working on other things.

Instead schedule meetings before the deadline, to ask them questions and see if they what is blocking them.

5. Your prices are too low!

What can you do?

Change your prices to be profitable. If required package your offers, create services that clients need at a profitable price by showing the value you deliver.

6. Growing at all costs!

You buy products you aren't sure about at very high costs i.e. 100 qualified leads for 10k USD

Instead ensure that what you are buying at such a price will generate more money or value for your business.

7. You do everything.

Nothing works without you and you are getting tired. Instead delegate your tasks to your teams.

With all this in mind I think the easiest to change is no 6 instead of spending 10k for 100 leads that do not guarantee any sales, I clearly would build mine alone or buy a guide that help me for 20 USD or so.

In addition I spent 1k to create programmes that I sell between 180 and 460 USD and as I dearly need clients if someone said I get you one in exchange of 25% of the sale I would say yes instantly but of course would make sure the clients buy before.

So what do you think? And in view of this theory where is your business today?

Is spending 10k USD for leads too much?

Would you agree to 25% on products sales under 500 USD?

So I signed up for a free guide saying:" these are the 7 things that do that your business looks profitable but you only have a big revenue with no margin!"

The first one was:

1. Big revenue & no cash in bank!

The answer is because of your payment terms. Pay in 30 days or 60 days is killing your business.

Try: Pay upfront Pay 20% before the work. Or pay a monthly retainer.

2. Big revenue no profit!!

Your revenue is 100k 200k 500k but your profit margin is close to nothing, less than 50k or 30k or even 20k, why?

Because it costs you a lot to get that money in: Your systems costs you and are inefficient and ineffective with them too. You have employees salaries to pay Contractors to pay too.

What can you do?

Change your prices to be profitable Change your business model to a subscription base or stop trading your time for money. And get good tools.

3. Hiring problems

You need more people but you are stuck in the hiring process.

You spend months looking for the right person Or you find the quickly and you still need to spend time training them.

What can you do?

Hire a person before your business grows so you can anticipate the need and it takes less time.

4. Goals issues

You set goals but your teams are not reaching them and work on other things.

5. You have low prices.

Change your prices to be profitable Change your business model to a subscription base or stop trading your time for money, be paid per task accomplished at a high ticket price rather than paid per hour.

6. Growing at all costs.

You buy products you aren't sure about at high prices i.e. 100 qualified leads for 10k.

7. You do everything.

Nothing works without you and you are getting tired.

Out of all of them the one that makes me the craziest is spending 10k USD for 100 leads. And I cannot imagine how that is.

I myself have spent more than 1k to create programmes and if a person guarantees I get a paying client for a programme I sell at 190 USD or 460 USD tomorrow I would happily give them 30% of the sale. However, 10k for 100 leads is tough because I built one over time organically and so far I haven't sold an item yet to them. So I prefer paying 10 or 20 USD for the same service, just in case.

How is your business today?

By getting 30% for a qualified client, is this worth the work for these prices?

I started a business a year ago offering online workshops.and so far I have a good system to build an email list I learned it thanks to free webinars and hiring two business coaches and as I feel business is also helping others I want to give back by sharing the I knowledge I learned.

At the moment what is blocking you from getting clients or growing your business? Or what do you think you are missing to start one or launch it effectively?

And what is the hardest for you daily?

If I can give you answers or links to get what you need for free I will in addition this helps me too to know what other struggles I do not notice.

Thanks.