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Are you struggling to figure out why your business growth is stagnant? I get it. This is something that I see all the time. People come to me and they are stuck and no matter what they do, they cannot move forward and grow their business. Today, let’s discuss 3 things that may be stifling your business growth.
The first thing stifling your business growth is overthinking.
Overthinking, overanalyzing, second-guessing, and questioning every little thing will 100% slow your business growth. There are always going to be “what ifs” and overthinking. The answers that you’re looking for are in the action that you’re not taking.
Go take action! Stop overthinking it! Then figure out what needs to be done if something doesn’t go as you planned. Most of the time, things work out just fine.
If you need to, get an accountability partner. Find someone to help you figure out when you are putting on the brakes. Overthinking is just you putting the brakes on yourself, and it’s stifling your growth. You cannot grow your business if you overthink every little detail. If there’s something on your mind right now that you have been overthinking, go take action on it!
The second thing that will stifle your business growth is if your business is not set up to be scalable.
If you are trading time for dollars, you cannot grow. There is a cap on growth when you are trading time for dollars.
For example, I have personal training clients. There are only so many clients, they can see one-on-one in the studio. They are trading time for dollars. Working 16 or 20 hours a day is not a growth strategy.
If you are just getting started, the time for dollars can be beneficial. That’s how you learn what you like and what you don’t like. There’s a lot of knowledge you can gain. It’s just industry specific. That’s how your industry works.
At some point, you have to get beyond that. If you are in that time for dollars trade right now, start thinking about other ways that you can offer your services. Can you offer a course, do two-on-one, a masterclass, or sell an ebook? Is there something else that you can do?
I am a huge fan of creating value-based pricing. Value-based pricing is an outcome-based offer. For personal trainers, maybe a 12-week plan that gives a certain outcome. How can you bundle it all together and just create one value-based offer?
The last thing that is stifling your business growth is wearing all the hats.
There’s only so long that you can wear all the hats in your business. At some point, one of the only hats you need to be wearing is CEO. If you want to grow your business, you have to step into the CEO role! Look at any of these big companies that are massively successful…they are not a one-man show doing everything.
I’m not saying you need to go get a team of employees, but at some point, you have to be willing to outsource and bring on support. It doesn’t make sense to remain a party of one. You have to bring in help, especially in the areas that you are not strong with.
If there is something on the bottom of your to-do list, and it manages to go to the bottom of your to-do list every single day, you have to outsource and bring on some help. You have to change your thinking. Yes, you need to hire somebody, but it’s an investment into your business. It frees up your time to go do something else that makes you money.
If your business growth is feeling stuck, I want you to look at these 2 areas.
Is it 2 of these areas? It could potentially be all 3, but take action!
- If you’re overthinking, go find somebody that you can run the idea by. I guarantee by the time you talk it out, you will get your answer.
- Look at your pricing and your business model. Are you trading time for dollars? Are you capped? Because if so, there is no further room for growth.
- Are you still wearing all the hats? Is it time for you to take one of those hats off so that you can free up your time to go do something else that’s going to actually grow your business?
Connect with Michelle-
- Website – https://michelledenioconsulting.com
- Facebook Profile – https://www.facebook.com/MichelleDeNioBizStrategist/
- Linkedin Profile – https://www.linkedin.com/in/michelledenio/
- Facebook Group- https://www.facebook.com/groups/fullybookedsolopreneur/
Have Questions? Let’s have a Cup of Virtual Coffee!
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