Let’s look at the e-myth and see if we can debunk the myths. of e-myths a to help you avoid falling into the e-myth trap.
First, what is an e-myth An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:
- Some capital
- Projected a targeted profit
This is just not realistic. Think of starting a business as a marathon. Sure, everyone starts out of the gate at record pace, but after a few miles people start slowing and some drop out entirely. Building a successful business takes stamina and agility, grit and perseverance. AND, it takes a skill-set and mind-set.
The reality is that there are many different facets to a successful business and none of them can be ignored if you plan to find success.
Let’s explore the roller coaster of emotions that comes with starting, nurturing and the potential failure of a business.
The emotions that occur, in order, are:
- Sense of self-loss
This is usually caused by the e-myths and assumptions we talked about. You can get your hopes so high on instant success that even the smallest lag and you are sent into an emotional tailspin. This is also brought on by the stark realization that you can’t do it all and will need help in the areas where you don’t have the knowledge. Now, faced with limited choices you may feel like you need to back out and hide, but don’t do this.
Use our FREE test drive to get the business coaching you need to avoid feeling overwhelmed and defeated.
Your Word of Mouth marketing is NOT enough!
I can’t tell you how many business owners tell me that they are super thrilled with their word of mouth marketing. BS!!! (Belief System). They just don’t want to spend the money.
Data from Harvard Business Review shows that while people ask for referrals and are promised referrals, very few customers actually provide referrals. Be honest. How many referrals did you ask for? Probably not many. How many did you get? Probably even fewer.
Do you really want your business to rely on the good will of others? Do you want to be dependent upon someone else remembering to say something good about your business? That is leaving a lot of your success up to somebody else.
When you rely on word of mouth marketing, you are NOT in control of your destiny, period! If you ever want to sell your business, your word of mouth reputation is not sell-able. That is not something a new owner can replicate.
Does that mean word of mouth is bad? NO!!! It is a great indicator to tell you that your customers do like what you are delivering. You need to think of how you can make your lead acquisition consistent and controllable BY YOU! If you are going to rely on word of mouth (please do not let this be your only channel), stack the odds in your favor with incentives and reminders.
Does this mean you have to spend a lot of money on marketing or advertising? No, it does not. What it means is that you want to get clear on who your ideal customer is. I know you have heard this and most of you have not done it. Be honest. Just because they can fog a mirror, does not mean they are a good customer. But when you are clear with who they are and what problem of theirs you can solve, whenever you communicate to the market be it your existing customers, your networking events, your FB groups or your advertisements, now they hear you and they want to speak with you. When you can describe their problem better than they can, they say to themselves, “She gets me.” “She knows how to help me.”
A mentor of mine once said, “When you dial your marketing in, you create magic. You can predict your future.”
Don’t leave your future in the hands of somebody else’s good intentions. Let’s talk about how you can create a message so compelling, they are calling you!
If you would like to learn how you can do this visit my free video everything you know about marketing is wrong and learn how you can stand out in the marketplace
This is not the first worldwide pandemic.
There was the Antonine Plague which ravaged the known world from 165- 180 AD. It, too, appeared to originate in Asia. Scholars think it may have been smallpox.
Marcus Aurelius was emperor of Rome at the time. He was known as a warrior, general, and philosopher in addition to being emperor. Even today, many leaders look to his writings (Meditations) as a guide for life and leadership. His philosophy was Stoicism.
The Stoics held a set of values, four of which are:
We can all do with remembering these values during this period of time. It looks like this pandemic may be here for a bit.
We can leverage self-discipline to prevent ourselves from giving into our anxiety and perhaps spending money we don’t have, or letting our selves go. Or letting our business go because we have been shut down and we are waiting for guidance. (Do I watch Netflix or create a new way to serve your customers?)
We can muster the courage to lead. To lead our business, our teams, and our community by demonstrating that we can continue to create value even in a pandemic.
We can leverage our wisdom to recognize this is a long game. Longer than anyone hopes for. And, we don’t need to get caught up in the minutia of the statistics and flailing of science and government as they try to find a solution. Nor should we listen to the prognostications of media as they continue to capture our attention to sell us stuff.
We can tap into justice by recognizing that we are all weathering the same storm. But we have different experiences and resources. Some are well suited with a castle and moat, while others are living in a lean to. We can do our part to help the communities we serve.
I say yes, the stoics have quite a bit to say to us and we can use their wisdom, discipline, courage, and justice and tap into ours not only to survive this “plague” but to come out on the other side better, stronger and more resilient.
If you are interested in how your business can create
- More customers
- More revenue
- More profits
- WITHOUT spending more money on marketing or advertising, join me for Your Market Dominating Message: a free webinar designed to serve main street business.
Let me beg your forgiveness up front. This may sound harsh. Your marketing is terrible.
Please consider this! Next time you’re online, I want you to search out and compare a few websites.
Compare two or more IT company websites, or perhaps fencing contractors, or attorneys, or accountants or any other professional or service-based business.
THEY ALL LOOK SIMILAR TO EACH OTHER!
They say things like:
- We offer superior quality
- We are the most experienced
- We are honest
Blah, blah, blah. Any body and everybody says the same thing. How is your buyer going to hear you let alone be motivated to buy from you?
This explains why so many businesses compete on price.
Think about it, when you go to buy something, don’t you always want the best deal?
Well, when businesses look and say the exact same things, isn’t price the ONLY way to determine who is offering the best deal?
The following statement is often shocking to business owners, but price is NOT what customers shop for!
They’re shopping for VALUE. Customers will pay twice the price if they believe they’ll receive four times the value.
Prove this to yourself… do you buy all of your clothes at Walmart? Do you drive the cheapest car on the market? If not, why not?
Value beats price every time, but when all businesses look identical to each other, the ONLY value proposition left to the customer is the business offering the lowest price.
If you want to learn how you can differentiate yourself and your business you can check out my e-learning system or sign up for one of my free trainings to learn the two steps necessary to create a customer.
Business owners today spend a lot of money to build a website with all the bells and whistles. They think that “more is better.” In reality, nothing could be further from the truth. Websites don’t sell… relationships sell.
Your buyers must feel that they can trust you and that you have their best interests at heart. They want to feel that they’re dealing with “the expert.” Your website should be designed to establish this in order to increase the bottom line for your business.
What you need to know…
Prospects today won’t give you their time willingly. You MUST earn it, and that means you must give your prospects something interesting and compelling to make them want to stick around your website so they can see exactly what value you offer them.
You want your website to convince your prospects that your product or service offers “extraordinary value.” And it must connect with them emotionally. Most websites simply state the features of what you sell, and then expect your prospects to buy it. Buyers today want value. You want to educate them as to why you’re the one business in your industry that provides them with the most value.
The way you accomplish this is to use what we refer to as “The Marketing Equation.” We’ve discussed this in other forums. The Marketing Equation consists of 4 major components… Interrupt (hot button based headline), Engage (sub-headline that promises a solution to the headline), Educate (body copy that conveys your extraordinary value) and a compelling Offer (a specific call to action).
Why you need to know this…
To consistently attract more clients to your business… and to effectively convert buyers into clients, it’s critical that you develop a compelling website that offers extraordinary value to your prospects and inspires them to instantly want to know more information about your product or service. Your website must focus on the benefits and on the value your business provides that your competition doesn’t.
Your website can offer free access to information… information that quickly and clearly articulates what you do and the benefits and value you offer. A free informational report may compel interested prospects to seek you out once they understand the extraordinary value that you… and you alone provide.
The cost to you if you fail to act…
A well-crafted and well-developed website can generate a tremendous number of new leads for your business. Your “offer” is the key to generating these leads. Offer valuable information, free trials of your product or service or whatever else may be important to your prospects.
When you do deliver information, or a free offer or a freemium version, a little quirk in human behavior sets in. It’s called “reciprocity.” When you give freely and willingly to help others, they feel compelled to return that generosity through reciprocity. The key is to know and understand specifically what it is your prospects truly “want,” and then give it to them. That earns you the right to ask them to do business with you.
Let us know how we can assist you in growing your business and To take a Test Drive on our system visit http://ras-squaredacademy.com/guidedtour
To your success,
P.S. Please remember that at any time you feel ready and qualified to move forward and acquire the professional help that can enable you to build the business of your dreams, just click here and let’s have a conversation.