It’s so easy to get stuck, isn’t it? We go about our lives, doing our work, pretty much on auto-pilot, and before we know it we’re stuck. Nothing is growing or changing or progressing; we’ve just been doing the same things day in and day out for weeks, months, and even years hoping that miraculously things will change and all our dreams will come true.

Well, the sad truth is nothing is going to change unless we do something to make it change. So take a look at these top 7 signs that your business is in a rut and decide if it’s time to do some things differently. 

1. Nothing is working. Newspaper ads, yellow pages, direct mail, social media,  and networking. You’re doing it all, yet you still don’t have all the business you want or need and your pipeline is empty.
2. You have no accountability. You’ve read all the marketing books, attended seminars, and maybe even hired someone to help. You know the basics of marketing, you just haven’t committed the time and energy to creating a cohesive system to make it work, and you don’t have anyone to hold you accountable or to make sure you to do the things you know need to be done to take your business to the next level.
3. You’re not getting objective feedback. Your friends and colleagues have been great for stroking your ego. But you know all your ideas aren’t as great as they say. If they were, you’d be a millionaire. You need objective opinions from somebody who can constructively lead you in the right direction and offer a fresh perspective to your ideas.
4. You don’t have time to do all the marketing research on your own. You are an expert in your industry. You can’t possibly be a marketing expert too; you don’t have time to master the things you need to take your business to the next level. You value your time and know it’s better spent on other aspects of your business where you can reap a higher return. So your marketing efforts are suffering.
5. You don’t have a marketing plan. You’ve been doing your marketing kind of haphazardly –  a little here and there with no cohesive plan or strategy in place. It’s not working. You know that in order to make it work there has to be some consistency and process behind it. But you just don’t have the time.
6. You aren’t ready to hire a full time marketing staff.  Yes, it would be nice to have an entire department devoted to growing your business, but that’s an expense and a responsibility you aren’t quite ready for…yet!
7. Waiting is costing your money. How much time, money, and resources do you waste on all the wrong marketing tactics? Really – this isn’t a rhetorical question, sit down and figure it out.  How many more months are you going to pay for those ads that may or may not be bringing you business????

If any of these sound familiar, you might be in a rut, and it could be time to get some help.  For more info on how to hire a marketing consultant, check out this article.

I don’t know what it is about Marketing, but everyone on earth seems to think they can do it. And yet I see so many people NOT doing it or wasting thousands of dollars and not getting results.  I see business owners try the same things over and over,  wasting more money, more time, and more energy. If I had 1/10^th of what business owners waste on stuff that doesn’t work, I’d be the most successful marketing consultant on the planet.  And yet, so many business owners would rather go it alone and try and fail and try again and fail again rather than reach out and get professional help. I don’t get it.

I know there are those out there who will always try to do it themselves so, so in the spirit of not getting it, here are the top 21 reasons why most small business owners fail at marketing:

1. Guessing – Great marketing isn’t an accident. It takes research, educated decisions, testing, tracking and measuring. Guesswork will leave you customer-less and broke.
2. Doing what everyone else is doing- Every business is different and your marketing mix should be too.  Following the crowd isn’t going to help you stand out from the competition!
3. Listening to sales people Marketing is a long term strategy, not a special advertisement, publication, or website; but every sales rep you come in contact with will try to convince you otherwise. Marketing is a process – a long term strategy, there is no magic pill and don’t let a slick sales person try to tell you otherwise.
4. Not asking questions –Question EVERYTHING about your business and ask everyone you come into contact with as many questions as possible to learn, grow, and constantly improve.
5. Doing nothing – It’s simple, if you don’t Market your business, you will fail.
6. Putting all your eggs in one basket – Marketing is like investing, the more diversified your strategy, the better off you will be. Don’t invest all your time and resources in one medium or on one marketing tool – mix it up.
7. Not tracking results – How the heck are you going to know what works and what doesn’t if you don’t track the results? If you’re not tracking you’re guessing, and we covered that in #1!
8. Assuming you have all the answers – Yes, I know: you know your business better than anyone. But do you know marketing?  I mean do you REALLY know how and where to reach potential customers and convince them to buy from you?
9. Not talking to your customers – No one knows your value – or faults – better than the people who actually buy from you. Talk to your customers – often. It’ll provide valuable insight and ideas.
10. Ignoring your competition- If you don’t know how you’re different from your competition how are potential customers supposed to? Knowing your competition’s strengths and weaknesses will help you differentiate.
11. Not setting goals –Goals keep us on track; they give us direction. Without them you’re wandering aimlessly and most likely wasting a lot of time and money.
12. Not building an email list – I don’t understand how anyone can market a business in today’s world without an email list! Email is the easiest and most inexpensive way to stay in touch with customers and prospects.  If you aren’t building a list you’re missing out on huge opportunities.
13. Not having  an opt in form – Emailing current and past customers is a great start, but what about the people who visit your website, Facebook, Twitter, or LinkedIn pages and then go away never to be heard from again? Wouldn’t’ it be nice to engage the serious window shoppers in some way? An opt-in form is the way to do it!
14. Selling all the time.  We’ve all met the slick schmoozy salesy types, right? And how long does it take you to high-tail it in the opposite direction? Don’t be one of those. An effective marketing strategy eliminates the need to sell all the time… really!
15. Assuming because you have a great product or service you don’t need a marketing strategy – Sure, some products and services might market themselves, but that’s rare. Real marketing success takes strategy, planning, and work.
16. Assuming that just because you have a good product or service you don’t need a referral system- Again, there are some products and services that people just love to talk about, but building a successful business solely on organic referrals and “buzz” is rare.  Getting solid referrals, consistently takes planning and solid execution. .
17. Assuming anyone with a pulse is your client- Repeat after me:  “NOT everyone is a potential client for me”. Now look in the mirror and repeat that every day! Find your niche – that segment of the population you are born to serve and you will uncover a gold mine!
18. Not building relationships – I can’t stress enough how important this is. Hiding behind your computer screen, desk, or counter isn’t going to get you the level of success you want. You have to get out there – mingle, be helpful, connect people, and build relationships with the right people!
19. Spending all your time networking in the wrong places –Not every networking group is right for you. Find the ones that will help you get where you want to go and avoid the ones that won’t.
20. Ignoring the internet – Facebook and Twitter may not be right for your business, but chances are your target market is going somewhere on line for information about your product or service.  Your job is to find out where they’re going and be there!
21. Not hiring a professional- If you want to build an addition onto your home would you do it yourself or hire a professional?  I mean, you know your home better than anyone, right? So why not do it yourself? Ridiculous, right? So then why would you try to “add on” – or grow – your business yourself?  Hire a professional who has the right tools and knows the ins and outs of growing a business.

So what do you think? I’d love to hear your thoughts!
 Want to share?? Please do! Leave your comments here.

By the way, if you liked this post, I’d really appreciate your Retweet!!! Thank you.

The latest contribution to our popular series, Back to the Fundamentals of business planning, is highlighting our Bplans.com Break-even Calculator, which is one of our FREE tools, available to help you write your business plan.

One of the most fundamental questions in starting a new business is “When will I break-even and start to make a profit?”. This calculator will help you get the bird’s-eye low-down on this caper.

Here’s a short article explaining how to use this tool, right now, real time, to better plan and manage your business.

Today we are continuing our popular series, Back to the Fundamentals of business planning, by highlighting our Bplans.com Starting Costs Estimator Calculator, which is one of our FREE tools, available to help you write your business plan.

Getting a handle on what it will cost you to get your business started and running is about as fundamental as you can get.

Here’s a short article explaining how to use this tool, right now, real time, to better plan and manage your business.

As an extension of my earlier blog on fuel efficiency comparisons, I continued my research and put together a fuel efficiency article that I’ve posted on our business-planning resource site,  Bplans.com. This article, Dealing with rising gas costs, includes tips on gas mileage, alternative fuels, how to be more fuel efficient when traveling on business, and how to choose a more fuel-efficient vehicle.

For example, did you know that “…each 5 mph you drive over 60 mph is like paying an additional $0.24 per gallon for gas,” or that the time of day you travel can affect your fuel efficiency?

If your business is looking for fuel-saving tips, check this article out.

Take a look at all our Global Entrepreneurship Week Bplans Back to the Fundamentals contributions.

With the plethora of instant text communciations it is easy for us to become sloppy in our spelling, and when using texting, reducing words to rebuses and abbreviations is near-mandatory.

Still, when you are involved in any form of business writing, especially where you have an outside audience, an audience that has some control over your future, correct spelling, and edit reviews are critical.

One of today’s contributions to Global Entrepereneurship Week is our “Back to the Fundamentals” article Spelling and editing are fundamental business planning activities.

I’m sure almost everyone is familiar with the story that Thomas Edison discovered 99 ways to NOT make a light bulb. That’s 99 no to reach 1 yes. The point here is that a negative result, proving something didn’t work or was not so, is just as valuable as a positive result. Sadly, scientific research has become so expensive, and so heavily subsidized/sponsored by corporations, that it has become the expected norm that every result must be a commercially marketable yes result.

That “always yes” attitude has come to shade the development and use of business plans as well. It’s gotten to where people think that every business plan has to show exorbitant profits and wild success. And to reach that end, all that they need to do is overestimate the financial tables a bit, or a lot, until the Profit and Loss and Balance Sheet show the desired results. This is a bad and dangerous tack, in my opinion.

For instance, we saw one plan for a tennis club with indoor court rentals. The financial tables looked good until we divided the rate per hour into the sales forecast. Seems those courts were rented continually, 28 hours a day, every day, 365 days a year. Not possible I’m afraid.

Or the mobile auto oil change business in a large mid-western city. Again, closer inspection of the sales forecast showed that the one worker was changing the oil in a car every 45 minutes, with no travel time between jobs, in all weather, every month of the year. Now, I’ve tried to change my oil in Illinois in January, outdoors, lying on my back in the snow and below-freezing temperatures. Let me tell you from experience that 45 minutes is painfully unrealistic.

Final example: there was the apartment rental company with five vice-presidents but no employees in the personnel forecast, and they never showed how or when they paid for the buildings they said they purchased.

These business plans all said YES in the financials — if you didn’t look too closely.

Now, I say that NO is an acceptable result from a business plan. A business plan for a start-up company that shows huge losses, or negative cash flow is an OK result. It tells you that the business as planned will fail. It tells you that some of your basic assumptions are wrong. It tells you that you are missing something immensely important.

And this is better than OK! Rather than starting up with unrealistic expectations and then hitting bottom in an excruciating crash, you can stop right now and reassess, before you make a financial commitment. Don’t ‘embellish’ the financials by boosting the sales forecast. Look at your market, your competition, your expenses, and everything about your plan and be realistic.

Honest reflection may tell you that this isn’t the business to start right now. Or, you might revise the plan and discover if you put some of those vice-presidents out on the production line, it reduces your costs of goods to a point where you really can make a modest profit on steady sales, without hockey-stick growth. After your revisions, you still might not make a profit until year three. But in going through this process, you may become convinced that the business is viable with adequate start-up funding and second-round investment.

NO is an acceptable result for a business plan if the plan exposed the flaws and showed the way to a realistic YES.

Steve Lange
Senior Editor
Palo Alto Software

Planning, monitoring, tracking, and managing your cash flow and cash balance is always important. In an economic downturn this becomes, perhaps, your most important business management activity.

In this next addition to our Global Entrepreneurship Week series of “Back to the Fundamentals” business planning articles we look at The importance of cash flow during an economic downturn.

Take a look at all our Bplans Back to the Fundamentals contributions.

Survey says…

Every now and then you have to stop guessing about what your customers are doing and actually ask them. This fall, we conducted a survey of over 650 entrepreneurs and business planners who are using our software. Their responses yielded some helpful information for others tackling the most challenging aspects of business planning.

As part of our series on “Back to Fundamentals” in business planning for Global Entrepreneurship Week we’ve posted an article about our survey, what it tells us, and you, how to use survey results in developing and planning our marketing strategies, tactics and programs.

Click here to read our Planning tips from Palo Alto Software customers article.

For those of you who attended Monday’s Back to the Fundamentals webinar, you heard a lot of references to some websites, books and blogs.

For the reference of those people looking for more information and for those of you who weren’t able to make it to the webinar, I’m going to put a reference list here.

If there are any that I fail to include here, please leave a comment and I’ll track it down and get it for you.

Tim Berry

Blogs : Planning, Startups, Stories, Up and Running,  Tim’s posts at HuffingtonPost, Tim at Anita Campbell’s Small Business Trends, Planning Demystified at AllBusiness.com

Books:  The Plan-As-You-Go Business Plan book and website, Three Weeks to Start-up

Slides: Download the slides from Monday’s webinar as well as other presentations Tim has given over the years.

The webinar itself will be available for download starting today at our video site   eta: This link is fixed now, sorry about that!

Resources: Palo Alto Software products,  Business and Marketing calculators, more planning video’s.

I hope that was helpful, again, if I’ve missed anything or you’re wondering about a particular resource or website, just comment!

‘Chelle Parmele
Social Media Marketing Manager
Palo Alto Software