Listen to our blog on "How to Avoid the 3 Most Common Challenges for Small Business Owners" here:
On this segment of the Lifestyle Business Owner Radio Show, Aaron and Mayumi Muller welcome Mike Raber. Mike is a professional speaker, wealth coach and co-author of Amazon's #1 Best Selling book, Brilliant Breakthroughs for the Small Business Owner: Fresh Perspectives on Profitability, People, Productivity, and Finding Peace in Your Business. Mike has dedicated his life to helping small business owners design a business, establish a financial foundation to help them reach financial independence and determine what’s truly important to them through empowerment, passion and purpose.
Having experience in owing his own business for years, Mike noticed that other business owners were running into the same challenges as he was facing such as, obtaining new customers, boosting revenue, and generating leads. Identifying a target audience was most important for Mike's Limousine company, which meant dedicating a majority of his efforts in growing his current relationships with his current clients and focusing on cultivating new ones due to referral's and leads. This enabled Mike to systematically unlock a new market of raving fans and recurring business--which led him to help other business emulate with the same formula.
LET'S GET DOWN TO BUSINESS
For smaller businesses, many times the struggle lies in finding strategic ways to obtain new customers. Advertising and marketing are useful resources to draw in new customers and showcase your services, but if you do not have excess cash flow it may be difficult to see the immediate value in such expenses. Create a plan by familiarizing yourself with your financial report, identifying what your company is currently producing and where you want it to go. Putting systems in place allows uniformity, scalability and accurate numbers which should reflect the direction you are going.
"Try not to overcomplicate the process."
THE STREET SMARTS OF SMALL BUSINESS
Find out the 3 most common challenges most business owners face.
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