I asked the participants one question – What’s the #1 issue you’re having right now with profit, revenue or cash flow in your business?
And here’s the verdict…
28.6% said Cash Flow – which includes revenue and profit challenges.
21.4% said Pricing
21.4% said Other – which includes mindset, action, balance and other areas of personal development.
17.9% said Marketing
10.7% said Sales
Because I get totally excited about the numbers I noticed that cash flow and pricing combined, accounts for 50% of the challenges that business owners are facing.
Below are some ways to fix the challenges as it relates to cash flow and pricing:
- Know, track and monitor your numbers monthly
- Identify your cost of doing business so you can price your products and services accordingly.
- Market your business consistently – online and offline.
- Pick up the phone and share your business with your network. Stop waiting for a website or business card design to be finished before you share what you do.
- Don’t be a business card collector be a connector and solution provider.
What’s your #1 issue as it relates to cash flow, revenue and profit in your business?