My Business Is Not Making Enough Money

My Business Is Not Making Enough Money


So, your business isn’t making money. I’m
sure you’re asking yourself, “What the heck do I do?”
Well, don’t worry. You’re not in this alone. Many business owners deal with
this challenge. In this video, I’m going to go through a few things that might be
able to help you look at your business a little bit differently. Stay tuned. So, your business isn’t making enough
money. I definitely feel your pain. This is a serious topic. I take this serious. I
just want you to know that you’re not alone in this. There’s so many business
owners that deal with this challenge. Especially in the beginning. Hust getting
it right, nailing it. Sometimes you feel like your business is growing and it is
growing but then you’re like, “Where’d all the profit go?” I’m going to go through a few
points in this video some definitely some things that maybe you should think
about consider and maybe look a little bit differently at in your business.
First off, let’s start with this: When was the last time you just kind of took a
step back and got out of the day-to-day from your business so you can just look
at everything and really identify why are you not making money.
Where is the issue coming from? Is it… You know, a lot of time you say, “I just need
more customers.” But is that really the case? A lot of times there’s some things
that you can do in your business and without having to add more people, more
sales and you can increase your profitability. So, when was the last time
you really looked at where the issues coming from? That’s super-important.
Again, there’s not just a simple answer to identify this because there’s so many
different businesses. So many different industries. But you’ve got to be able to
get yourself out of that day to day and really look at your business at a whole
and find out where the issue is. There’s a great book. It’s by Keith
Cunningham. It’s called the Road To Less Stupid. And I definitely recommend that
you read this book. It’s really powerful and it just talks about how when people
are dealing with challenges in their business, they’re their first knee-jerk
reaction is to throw more employees at it and and more marketing dollars and
more customers and that’s going to solve their problem. And a lot of times, when
you really look at your business, you find that it’s just
inefficiencies. And if you can run more efficiently, you’d be able to pull more
profit out of your business. And make the money that you ultimately want
to make. Number 2 is: Do you have too many people on staff? Are you
spending money on things that employees are doing that now technology can do
with maybe need 3 employees to do something. And now through technology, you
can do it with one? Now, there’s some great bookkeeping services where you can
eliminate having to have a full time position in your company as a bookkeeper.
I mean, utilize a service that’s out of the office that is a fraction of the
price. That’s just one little area. But before you just
to throw things in are there things that you can eliminate and take away which
automatically would increase your profit. The third thing is I always
tell everybody. And I talk about it constantly a lot of my other videos. And
I’ll continue to talk about it is it’s all about structure, processes and
systems in your business. Do you have the right structure processes and systems in
place? You know, if you’re looking to just throw money at marketing and getting
more customers in, if your business isn’t really ready or set up to book the
volume, handle that volume and then you’re just going to pour more
money out the window and you’re not going to see that return come back in. So,
another thing that you may need to do is again pause step out of your business.
Identify those areas where you need to implement that structure and process and
then pick it back up again before you look to throw money and
people at some of your problems. Another area that gets overlooked is your
existing customer base. You know, if you’ve done a great job but already
pulling customers in, what can you do to market back to those customers through
some simple emails? Even a follow-up phone call. Maybe a letter in the mail.
But if you’ve already had those customers come into your business and
trust you to do business with you once, a lot of people automatically think, “How do
I get new customers? New customers. New customers.” And never go back to the
lowest and easiest hanging fruit which is their existing customer base. So,
really look at that. The next thing we’ll talk about which is important is: Are you
in a business that you’re actually able to make the profit that you want to make.
I don’t know what that number is. Are you selling or providing a product
or service that people really like and want to buy? Or are you in an industry
where you’re going to be able to reach some numbers that you want to reach? You
have to get real serious with that. Don’t fall in love I’m with your business, your
product, to your service. You got to get real to yourself from this one and are
you in a business where you’re going to be able to hit the numbers that you want to
hit. If you’re not, you might have to make some hard decisions or you might have to
pivot. And that’s okay. Don’t be afraid to change. When Nintendo got started, they
got started selling instant rice and vacuums. Now, they’re one of the largest
video game companies in the world. So, think about that. Don’t be afraid to
pivot and change. And lastly, do an audit on your business and what are things
that are going on right now whether it’s auto pays, unnecessary expenses, things
that you signed up for that you forgot about that are digging your credit card
or your bank account every month. If you’re having a challenge right now with
making money and you haven’t done an audit and
last 6 to 12 months and looked to eliminate any unnecessary expenses, then
it’s really time to do that. It’s so important as your business moves along
and grows. You continue to pick up unnecessary expenses. You have to take
the time to step back and look to eliminate those expenses. Don’t just get
caught up and adding more. If there’s things right now that you can eliminate,
all that money goes right down to the bottom line and that goes right into
your pocket. So, if you’ve been watching this video and you’re saying, “Hey, I’ve got got structure and processes in place. I’m running real
efficient on the technology side. You know, my people are good. I’m not
over weighted there. Yeah, I went through my expenses. I ordered everything. I’m
running real mean and mean.” Then that’s great. Then all business has really come
down to is sales and marketing and it’s time to put your focus into the
marketing side of the business and the sales side of the business. If you
haven’t been testing new things in marketing or new ways to attract
customers, figure out where your customers are going. Try new things. I
hope you found this helpful. If you had a point you’re like, “Hey, I need to start
putting some money into marketing in some sales. I need some money to help you
know get me back on track.” My company, National Business Capital And Services
can help you with financing. They can also help you with marketing services.
Check out that link below. Fill out the form. One of my team members will talk
through everything you got going on your business. I’m going to strategize a plan to
help get you to that next level. Also please subscribe to my channel. And
please comment below if you have any questions. If you need clarity and
anything I talked about today. I’m more than happy to respond back and answer
those comments. I enjoy them and I love them. I hope you get back on track and
win real big in your business. Thanks for watching. We’ll talk soon. Take care.

Leave a Reply

Your email address will not be published. Required fields are marked *