What To Do If Your Business Doesn’t Take Off After Three Years Of Its Launch?
I am a big fan of taking small steps. In my opinion, small steps taken towards any goal are smarter than large, bold moves. I’m also a firm believer that the universe takes its time to set circumstances towards the actions and decisions we take. It requires time to listen to our wishes and acknowledge our sometimes erratic plans. It powers us to learn about ourselves and our chosen goals before giving us what we want. It also needs the time to set up obstacles, as if testing us to see if our motivations are really true and sincere.
The universe also surrounds us with people who will help us understand how to get there, or what exactly might not work, in order to achieve our current goals. Some might call those people as mentors, but I have an aversion to this word. Those people happened to cross my path — now I am realizing that it happened at the exact moment when I needed them the most. Their purpose was to help me understand something important about my ambitions, and not always in a positive sense. More often than not I would see myself in those people and think — is this what I want? Is this who I want to become? And then lightly but firmly, I modify my course. Again, no bold moves, just small steps.
In each and every goal, there’s a moment in time when I go through a point of no return. Whether it’s moving to another country, changing jobs or starting a new business. I’m referring to the time when I recognize that a certain goal is actually going to be achieved. Only to realize how the horizon expands and how many other goals now suddenly becoming reachable.
To be honest, the processes of taking small steps and waiting around - they go against my nature. I’ll be the first one to admit that I’m a very impatient person with very limited attention bandwidth. However, when it comes to marketing and specifically to online marketing, my only advice is to take small, but consistent steps. It really takes time to raise awareness about your business, especially at the start.
Think of your business as a newborn child. A baby requires constant attention and resources, in order to thrive or survive. After six months of age, they are barely crawling. At twelve months they may start to walk albeit with shaky legs and stumbling. They will talk but it will take another year or two before they will start to speak with their “own” voice.
A wise businessman once told me,
“if a business doesn’t take off after three years of its launch, the probability of it actually succeeding decreases dramatically, from month-to-month.”
The main reason why most businesses fail is their inability of executing a suitable marketing plan, with a generic awareness component as a foundation for success. Remember the universe? It takes time to react. If no one knows about your business, how are you going to get to the point of break-even and prosper?
A marketing plan is not about how much I should spend on online ads today. Rather, it’s about how much resources I am prepared to put overall. Come up with numbers for the course of three years, and then divide it by 36 months to figure out how much you ought to spend monthly. Something that might sound very obvious but in fact, it really isn’t the case for so many business owners. The one thing I’ve noticed is that they have the tendency to spend a large budget, all at once. Merely for the sake of seeing how it performs and to measure “immediate” results. Sadly, we have seen the recipe failed too many times.
Start small. Do it so consistently. The arrow that flies straight to the target, does not give itself an opportunity to be distracted. It goes straight to the heart of the matter.
Originally published at https://www.linkedin.com.