If you're an entrepreneur or business owner, you know how challenging it can be to build a successful business. There are so many moving parts, and it can be overwhelming to try to manage everything yourself. That's why in this article, we're going to talk about the biggest challenges you may encounter when trying to build your business. We'll be going over four main categories of challenges: marketing, sales, production, and time management.
One of the biggest challenges people have with marketing is not doing enough estimates and not being aggressive enough. There are two main issues that people run into with marketing. The first is not utilizing all the avenues they can. If your phone isn't ringing enough, you need to be more aggressive. That's why we encourage door-to-door marketing, joining local networking groups, calling property managers and real estate agents, networking, and more. You need to figure out your target market and hit your numbers.
The second issue people run into with marketing is not being aggressive enough. If you're not hitting your numbers, you need to take action. Marketing is the ultimate bottleneck to your business. If you can only ever do 20 estimates a week, you can never book more than 20 jobs a week. You need to master marketing to grow your business.
The next issue people have is with sales. If you don't have a good professional sales process, you're not going to sell as many jobs. You'll have customers going with lower prices because they get your bid and someone else's bid, and the other guy's price is lower. If someone gets your bid and someone else's bid, and your price is a little higher but you were more professional, you'll still win those bids a lot of the time.
Sales is actually something that causes issues with marketing as well. Many times, I see business owners give up on marketing because it's not generating them business. But the mistake they make is that it's not marketing that was the problem, it was their sales process. You need to have a good sales process in place to close deals and turn leads into paying customers.
Once you start booking jobs, the next challenge you'll face is production. If you're doing everything yourself, it's easy to manage. But once you start hiring a team, it becomes more complicated. You need to have a system in place to manage your team and make sure they're delivering quality work on time.
Finally, the last challenge you'll face is time management. As a business owner, you have a lot on your plate, and it can be hard to manage everything. You need to make sure you're prioritizing your tasks and delegating as much as possible. You can't do everything yourself, and trying to will only lead to burnout.
Building a successful business is challenging, but it's also incredibly rewarding. By understanding and managing these four main categories of challenges, you can set yourself up for success. Remember to be aggressive with your marketing, have a good sales process in place, manage your team's production, and prioritize your time. Good luck!