5 Thoughts Holding Business Owners Back from Financial Success

Sometimes we can be our own worst enemy and this is especially true for business owners looking to increase financial gain or their business’ exposure. It is always best to get a second opinion when feeling stuck. I’ve spoken to many business owners who aren’t sure what the next step should be in bringing their business more money but first, it starts with a mental state. Get out of your own head and realize that you’re not “spending money” when you look to hire a marketing person, you’re re-investing. Here is a list of mental blocks I see holding most business owners back from thriving:

  1. It’s Ok to Not Have an Online Presence

While it was ok 10, maybe even 5 years ago it is NOT ok now. We are entering an age where everything will be done online from grocery shopping to buying gifts to learning (online classes) and even research. According to Adweek – 81% of consumers conduct online research before making a purchasing decision. This holds especially true when making long-term decisions like seeking out a doctor, financial advisor, or tax specialist. Experts should be especially insistent on having an online presence so just because you don’t have an e-commerce site does not mean you shouldn’t have a strong online presence.

2. It’s Ok to Not Have a Digital Strategy

This is for my lovely business owners who have an online presence but no digital strategy. We know that it’s hard to sometimes let go control over your life’s work but I promise you that you probably don’t have the time to manage or put together all that goes into a digital marketing strategy. Most business owners are busy handling the everyday aspect of your business whether it be meeting with distributors, ordering new products, running financials or taking care of product development. So how are you sure as to what works for your online marketing strategy and when? A digital strategy will allow you to work less and increase your revenue by working smarter not harder. When you know what resonates with your audience you can keep doing it instead of playing the guessing game or just putting out content for the sake of it.

3. They’ve Always Done it This Way

Wow just wow. I hate to say it but traditional advertising is dying slowly and will eventually become obsolete. We are nearing this fate and with that being said how are you able to track what is coming in from your traditional advertising? Simple, unless you’re printing out a physical coupon for people to use you can’t. So now that we know you can’t track results, and its promising less and less return on investment why continue to do it? Don’t. Get help to transition into a new way of doing things and free yourself from this limiting belief.

4. They Don’t Have a Marketing Budget

If you have the money to keep the lights on and money to order more inventory you have a marketing budget. If you invested $200 a month in marketing and it got you $400 a month in ROI, you’d be paying for marketing plus have an extra $200 in your pocket! Sometimes a little push is what we need to get out of a limiting belief that we don’t have enough to achieve our goals.

5. They Can Do It Themselves

I did touch upon this a bit in reason number 2. If you expect to thrive you need a team, Rome wasn’t built in a day and it definitely wasn’t done by one person. Get out of thinking you can do everything yourself and hire people to help you, spend more time doing what you love and less of everything that needs to get done but you have no passion for. Hiring people to help you take care of the details will free you up sometime and allow you to focus on what truly matters to you while allowing things to get done RIGHT.

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