Q: From John Micciche, Micciche Computer Services: “What’s the most common mistake business owners make that causes them to go out of business?”
A: While it seems an incredibly self-serving answer, ineffective or non-existent marketing to bring in new customers. Put another way, a complete lack of systems or process to generate sales and profits on a consistent basis. After all, I don’t know of too many IT firms making good money who go out of business.
In almost all cases, they run out of money. And when you’re just starting up a business, the single most important thing you need to figure out and validate is can I make money? Yet newbie business owners do everything BUT marketing. They work on their infrastructure, contracts, systems, operations, etc., THEN marketing and sales comes in as an afterthought. Why is this? Because marketing—or bringing in new customers profitably—is one of the hardest things to do. It’s also highly unpopular because most people are too fearful to sell and have grossly negative beliefs about selling that are rooted in a fear of asking others for money.
As a new member, you have an advantage of being part of this tribe of unique IT business owners who actually realize that the fear and ignorance they have around selling and marketing needs to be corrected—and many are enjoying amazing growth in all areas (profits, new customers and recurring revenue). The challenge for YOU is to stay engaged and not tell yourself “I’m too busy” and need to “hold off on marketing for awhile until…<<fill in the blank with whatever excuse you have.>>”