What is Working Now in Entrepreneurship: My Top 5 Tips as a Business Strategist
May 31, 2023
I thought it would be fun to pull back the curtain again on what is working NOW in entrepreneurship (at least what I see as a business strategist from our business) and some of the most popular questions my clients are asking inside our programs.
I think honestly there is a bit of a myth out there that once you start to scale, you don't have to do certain things. But what I have found is you are still doing them, but doing them differently. I also have found myself saying on repeat, what worked five years ago (insert IG ads, posting 100 times a day, etc.) isn't working now, but also what worked six months ago might now work now.
Here are some of the most popular questions I have answered in the last 6 weeks.
#1 Are People Still Buying?
This isn't a question, but it is what we have done to handle the question no one wants to ask and that is what are you seeing in terms of sales and the economy. I.e. are people buying?
My answer is yes, people are buying, but the tail is longer. Here is what I mean. If you used to have to send one email, maybe you are now sending four. If you used to do one masterclass, maybe you have a new lead magnet (freebie), a masterclass, and then a Q&A session.
And, the kicker of the whole thing, organic conversations go a LONG way.
Yes, I love a good funnel and automations, but if you are feeling stuck and like no one is listening, when was the last time you just reached out to someone and said, "hey how can I help?" Or "Let's jump on a call, let me see how I can help you."
#2 What do I do if no one is reacting to my content or purchasing?
My #1 piece of advice is what are you educating on? If you go to your social, your email, or wherever you share your business, what are you teaching? How are you giving away educational tips that will help whoever is watching or listening learn something?
Have a product? Teach how to use it.
If you are a coach - what are 3 things you are doing right now to sign clients?
If you are a branding specialist - What is ONE thing you do each week that helps establish branding authority?
If you teach Canva - What is your favorite new Canva hack?
Be VERY specific. Education creates trust and authority which will lead to sales.
My second piece of advice as a business strategist with this question is are you putting everyone in one box? I used the Starbucks example in my masterclass last week. I don't drink coffee, so if Starbucks didn't serve tea they would lose me as a customer. If you have someone that is interested in working with you and they aren't interested in your current offer, don't leave money on the table. Pivot. (In a way that works for both of you).
Maybe you offer them something that is a stepping stone. This helps get them results, establishes you as someone they can trust, and then they will be ready to buy after. Give them what they are asking. Right now, you have to have your eyes open and look for what they want and give it to them.
#3 I don't know what to offer next
The third business strategy question I have gotten is, I don't know what to offer next. Think of a Customer-Centric Approach: Put your customers at the heart of everything you do. Listen to their needs, preferences, and feedback. Build strong relationships by providing personalized experiences, exceptional customer service, and going the extra mile to exceed expectations. What are they asking for?
For example, inside our mastermind we are really digging into sales and how to make sales. This includes what to say and how to say it. It's what the community was asking for, so we brought in experts, created a masterminding call to work through sales language, and delivered the question everyone was asking.
What do your clients want?
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#4 Data tells a story
Number four isn't a question, but more a business strategy tip. Data tells a story. Leverage data and analytics: Harness the power of data to make informed business decisions. Analyze customer behavior, market trends, and competitor insights. This data-driven approach enables you to optimize your strategies, target the right audience, and refine your offerings.
Look at 1) Where are your clients coming from? 2) What IG stories are the most popular 3) What emails have the best open rates? Do less, better. Do more of what is working. The answer to what is working is right in front of you and sometimes it is not what Sally or Karen who has a similar business is doing.
It's OK to do what works for you even if it's different.
#5 How do I stay motivated?
Last but not least, I would say the #1 question I have gotten asked lately, is how do I stay motivated when things are not as expected?
First, I would say just because things aren't as expected doesn't mean they are bad. I'll take my IG account. It disappeared for months, came back, and long story short, we decided to stick with the new one. But out of IG going down, we launched a new program "anti-social school" and have a cool new plan for the account that did come back.
Did I panic when all this first happened? yes. Did it lead to bigger opportunities? Yes.
Any outcome, launch, business move (insert activity of choice) means you are one step closer to the thing that IS going to work. Action creates momentum. Action creates data. Action builds confidence. Take action and grow from the results you get by putting yourself out there.
So in summary, what's working right now?
- Yes, people are buying, but it's taking a few more steps. If you want to be successful in this season, plan to go the extra mile. The extra email. The Extra course. The extra podcast interview. Those that stick with it will be rewarded in the end because most will not.
- Feeling stuck with content or purchases? Educate and serve. Go all in on teaching and teach something that is going to get a win and wow your next future client.
- Don't know what to offer next? Ask your clients. Serve those who are ready to be served.
- Use data to see what's working. Hint: right now for us it's organic conversations, email, and teaching on podcasts and video.
- How do you stay motivated? Don't be afraid to take action. Daily.
Which one of these tips resonated with you the most? Do you like these behind-the-scenes blogs? maybe I should do more of them!
Looking for more on this topic and your High-Level Action items? Check out the Strategy Lab in the Crush the Rush Club!
