How I got a blow of my life while starving my business
Prior to starting my business, starving was never an option neither was it a business strategy until I ended up in a pit of regrets.
You know when one is about kicking off a particular business online, he/she normally has this zeal to do more. He taps encouragement from failures and wakes up to strike back in a full force.
In this article, you will see the reason why you wouldn’t want to die-off that hunger and desire in growing your business. You will understand what it means to feed your business like it was your first child and not to starve it like it was your stubborn child.
The old saying of life “FAKE IT WHILE YOU MAKE IT”, which I was working on, not knowing that I was starving my business for a very long time. This act can liquidate your business in a twinkle of an eye and can also make you go broke.
Successful businesses are enriched business with the following factors:
- Financial Boost
- Innovative ideas
- Applying Competitors strategy
So any entrepreneur who doesn’t pay attention to the following factors is actually suffering business starvation. This is because the goal of every entrepreneur is to maintain continuity and ranking amongst competitors.
One day a famous online marketer asked me a question “how does a mighty fall”. I waited for some minutes before giving an answer. I’m sure you will be pondering your mind on what my answer could be, but I replied as such “I can’t clearly give an answer”
That you have a successful business today doesn’t warrant that you starve your business off the following factors.
You open up a business today and you worked your ass-out all day for 4 years and you feel the business has stabilized. You wouldn’t know when a fingerling turns to a big fish. When you started the business, you normally work within a time frame of about 16 hours a day, but at the time of starvation, your business only has 8 hours of your time.
Yes, you have this mindset that your business is already doing great out there but you refuse to listen to the time factor. As Albert Einstein would always say that 24hours of the day aren’t enough for me. He never wanted to starve his business.
When I first started an online business, I gave maximum attention to my business without a second thought. I paid attention to my worker’s effort and access their contributions to my business growth. This immensely helped because I pay workers according to their monthly effort. Before I employ any worker to my system, I usually conduct a thorough interview for capability checks on all of them.
Any employee who fails to deliver is suspended immediately without many dialogues. This is how I pay attention to my business prior before starving it.
So if you pay less attention to your product sales, you tend to have more products with few customers. This is real bad. So no matter how far you have gone in your business, always give in that attention it needs.
Response from the social networks is very paramount because if you don’t pay attention to this, how do can you get the performance of your products out there. So always pay attention to your posts and social shares. If your post use to have 2k social shares each from the different social network platform like Facebook, twitter, LinkedIn, Instagram, pin interest, and eventually falls to about 1k shares. This clearly states that your products are lacking something vital and needs your attention. don’t fail to review it.
If you have a blog, you will understand clearly well how financial boost can help your business. I once came across an article by GT Igwe Chrisent that says SEO is for broke bloggers. No doubt about that because monetizing your business gives you a massive income but that doesn’t stop you from doing the necessary.
You don’t need a preacher to tell you about the power of boosting your business. It clearly gives massive returns at the end.
So stop starving your business as an online marketer. That you are physically starving doesn’t mean your business should suffer the same thing. Remember, you have the audience to feed with your products.
Fresh and innovative ideas are necessary when trying not to starve your business. You need to learn how to recreate from the existing. It helps grow businesses to the point of massive returns and uniqueness.
One important thing you should know about innovative ideas is that it makes you see the unique difference between your products and competitors.
You must be confused on how to go about getting an innovative idea, but you got yourself a pass because you can do that by searching through net how successful entrepreneurs made it happen. Then with that idea, you try to restructure and apply to suit your product. By so doing, watch out for a clear business growth.
A business that is starving is losing its existence and that is the main reason you have to apply more innovation to it.
Apply Competitors Strategy
One thing successful entrepreneurs does is that they always keep their competitors in check. They always check out for what is actually making their product sales higher than theirs. When you start to apply this strategy about knowing your competitor, you will see that you need.
Most people don’t even mind their competitors and the worst is not even knowing them. If you are one of them, know that you are starving your business.
Always keep your competitors by the side and access what could have been the reason behind their high ranking. If you eventually get to know, apply it to suit your line of business. As an entrepreneur don’t wait for miracles to happen, work your own miracle. Put in more effort to grow your business all day. Do not show any sign to relent, but desire to grow your business.
Bottom Line: As an entrepreneur, you don’t need a fortune teller to tell you that your business is really starving, you can know all this through the result you get in every product you give out to your customers. An affiliate marketer would know this if he/she happens to see the graph drop down indicating low sales. Every online marketer wants to rank higher on google, so if your business isn’t doing well, you have to work on the factors below.
This article is published with the mindset of not allowing you get the same blow I got while starving my business.