Maybe Marketing Isn't the Problem... 🤔
For small business owners, marketing isn't always given first priority. We have such limited time and resources that marketing can seem like a luxury or an add-on to the business.
But for those who do prioritize it, they're often the first ones to blame marketing when the business suffers or lacks momentum. They bemoan that if only their Facebook ads or Youtube page were in full swing or had better production value then they'd have more customers.
What if the problem is with your business itself? What if you're just marketing a bad business?
We often don't want to think that the small businesses we've created might be built with a bad foundation or bad business model.
Here are some things that can be fixed about your business that are HIDDEN in plain sight:
The Price of Your Product or Service
Sometimes pricing is the limiting factor in a business. Many small business owners get their prices from "what the market" says or they look at their competition. Or even worse - they price based on the time and materials that go into the product/service.
Raising your prices by 10% can increase your profits for the year by 50%. You won't lose customers and if you do read the next section.
Work with Fewer Clients
The luxury of working with fewer clients means that you have to charge them more in order to maintain/increase your revenue. Working with fewer clients means you're spending less time over headaches, changes, edits, redos, and refunds. Thus, each client engagement becomes more profitable.
Service business, especially creative services, should keep their clientele in the 10-15 range per year. Any more than that and quality drops.
Work Yourself Out of a Job
Finally, if growth or increased revenue isn't the main goal then it's time to increase efficiency in your business. Streamline your workflow. In fact, ask yourself, how you can take yourself out the workflow entirely. If you were to hire someone to do your job, how much would that cost, and how much training/SOPs would you need to have in place? Acting like a business owner instead of the technician means you get to do more of what you love.
Thanks for reading and thanks for the support. ❤️❤️
- Jordan P. Anderson
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