"Little hinges swing big doors"
This is a quote I have loved for a while by W. Clement Stone, the American Billionaire, and philanthropist.
And I bring it up for a very specific reason.
I see service business owners on a regular basis who struggle to maintain sustainable growth.
It usually boils down to this one reason.
It's because they're unaware of the actual problems in their business and therefore do not know the solutions to these problems. Can you relate?
In entrepreneurship, you’re constantly learning and growing.
And you may have plateaued at a certain revenue - and no matter what you do, you can't break past it.
This is because you're problem aware and not solution aware.
What I mean is, you might have inefficiencies in your business and you think it’s for X reason when it’s actually Y. This is a feeling I’ve felt more times than I care to mention!
If you’re putting customers through a broken machine, building a sustainable business is at best… wishful thinking.
We want to avoid creating solutions for problems that aren't. I know easier said than done.
For example, you may be thinking you have a lead problem if you’re not making sales, right? WRONG!
Oftentimes - it’s a conversion or offer problem.
And let me ask you this question -
What’s easier, improving your conversion rate by 5% or increasing your leads by 20%?
One of the most effective growth strategies you can focus on within your service business is simply, gradually improving your conversion rate.
This is the "little hinge" in your business that will swing the biggest doors. It's by far the largest lever you can pull this week.
Begin to optimize what you’ve already got instead of craving “more”.
A question to ask yourself is -
“What do you need to do to close the GAP of your current conversion rate and where you want to be?”
That’s all for today.
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