3 Crippling Mistakes That Are Shackling Your Business To The Ground, Destroying All Hopes For Growth

I have a question for you.

What made you get into business?

My guess is that you wanted to be free from the constraints of an average life.

Free from financial worries.

Free to travel anywhere in the world without having to ask your boss for permission.

Free to focus on what YOU care about.

None of this is possible without breaking the chains that are crippling your growth and holding your business hostage.

Until you have the ability to consistently make progress and capitalise on every opportunity available, you will remain shackled.

In this blog post, I’m going to uncover 3 major traps that are keeping you tied down while your competitors sprint to freedom.

It’s time to unshackle yourself.

Let’s get started.

The ‘If it’s not broken, don’t fix it’ attitude

A common theory most people have in business is if a tactic or system is producing results, it should be left alone.

If it’s consistently drawing in new leads and making you money, why mess with it?

Here’s why you should.

Let’s say you have an email sequence for new leads that’s producing a 15% conversion rate to your entry level product.

It’s doing well and drawing in a profit each month.

You don’t make any alterations to it and it continues at a steady 15% conversion rate.

What does that look like for your business after a year? How much have you grown?

The question you should be asking yourself is how you can improve upon this promising source of income.

What would your business look like if you could increase that 15% conversion rate to 30%, 40%, 50%?

Identify what is making this system successful and look for new ways to maximise it.

Always double down on what works.

This is what separates the opportunists from those who are content with playing it safe.

You will never grow if you do not take calculated risks.

Not analysing your target market frequently enough

The online space is constantly shifting and evolving.

As a business owner, you need to be able to shift and evolve with it.

In its most simplistic form, your role is to solve a problem that a particular group of people have.

The way you solve that problem today could be entirely different to how you would solve it a year from now.

It’s crucial that you are paying attention to these shifts in the market and adapting to them as soon as they happen.

Most business owners will keep an eye out for any major shifts of course, but the gold is found in the details.

Those of you who focus on the micro shifts and nuances will ultimately come out on top.

The best way to look for these micro shifts would be to analyse the top competitors in your space.

What are they doing differently to you?

Where are they investing most of their effort to gather new leads?

What is their top performing product or service and why?

You’ve got to stay on the ball with this if you really want to advance forward.

You’re too comfortable

Comfort is possibly the biggest factor holding most businesses back.

Some people are simply too comfortable operating within what is familiar to them.

The way you’re running your business works and you’re bringing in money.

That’s great.

Continuing like this however, is not going to get you to where you want to be.

It’s daunting to take risks when you have something that already works, but it’s so necessary if you want to get to that next stage in your business.

You cannot grow without sacrificing the present for the future.

If you want to get something you don’t have, you have to be willing to go somewhere you’ve never been.

Discomfort is where you grow.

Fortune will always favour the bold.

Conclusion

This was just a quick overview of 3 crucial mistakes that a lot of business owners tend to forget about when they’re trying to grow.

Some of these traps may be familiar to you already.

Some may be more prevalent than others.

If you keep these 3 points at the forefront of your mind and utilise them daily, you will grow significantly.