In today’s episode, I’m breaking down 3 big mistakes entrepreneurs make when scaling their online business. My goal is to provide actionable insights for entrepreneurs aiming to elevate their online ventures.
3 Big Mistakes Entrepreneurs Make When Scaling Their Online Business – Key Takeaways:
Mistake #1: Guessing Instead of Strategizing
Entrepreneurs often overlook the necessity of a clear business strategy and revenue plan, inadvertently hindering their scaling efforts. Prioritizing sales development over audience building is paramount for sustained growth.
Mistake #2: Relying on Hope and Prayer Instead of Systems
The reliance on singular lead sources exposes entrepreneurs to unnecessary risks. Establishing your audience and implementing strategic systems, such as the VEMS model for content creation, are pivotal steps toward success.
Mistake #3: Attempting to Fix Sales Problems with Marketing
Distinguishing between sales and marketing is essential. Sales serve as the bedrock of any business, necessitating an understanding of customer needs through dedicated sales calls.
Client Story:
- We explore a real-life example illustrating the pitfalls of external referral dependence and the transformative journey toward building an independent audience, culminating in a lucrative six-figure launch.
Prospect Story:
- We delve into a prospect’s reluctance to prioritize sales over marketing, uncovering the repercussions of this oversight and the caution against banking on virality as a sustainable business strategy.
Key Quotes:
- It’s time to get serious about systems—they are the only path to freedom in your online business.
- The role of marketing is to amplify what you know about what is effectively working in your sales process.
- Plan your social media content out in advance. It’s a requirement.
- Your social media does not benefit from lackadaisical planning. You’ll get exactly what you’re putting into it.
- Marketing and sales are two completely different skill sets. Don’t try to fix a sales problem with a marketing strategy.
- Unlike marketing, sales is hand-to-hand combat. Engage in one-on-one conversations, understand what resonates with your prospects and customers, and incorporate those insights into your marketing strategy.
- Stop guessing; the competition is too fierce to build a million-dollar business without a solid strategy.
- Need to make more money? Focus on sales, not marketing.
Resources Mentioned:
- The Unlaunch Method Workshop: https://www.theunlaunchmethod.com
Conclusion:
In conclusion, we’ve dissected the 3 significant mistakes hindering entrepreneurs in scaling their business online. Be sure to join The Unlaunch Method Workshop for deeper insight.
