When reading business-related recommendations, there are so many details that it seems super complicated. It's no wonder that businesses aren't growing and owners are burning out.
In my 12 years as a CEO as well as through numerous consultations with early-stage businesses, I am repeatedly convinced that things that help businesses grow are actually simple.
If you find yourself with 10 products for 10 customer segments at the early stage - you're overcomplicating. Choose 1-2 products and 1-2 segments and focus on them until revenue grows.
If you have 10 different services for each client - you're overcomplicating. Identify services that bring maximum value to the client with maximum margin for you. Usually, this is 1-2 services. Get 10-20 enthusiastic reviews for these services, make money on the margin, and move forward with new services.
If you have 5 sales channels but sales are not stable anywhere - you're overcomplicating. The lack of sales stability is likely due to a lack of depth in your understanding of the audience in a particular channel and, as a result, not relevant messages in your materials.
Simplify and growth will come... BUT choosing what to focus on is hard! There’s always a risk that you may choose wrong.
What does a good approach look like?
Approach the process like a scientist, systematically testing hypotheses without expecting immediate results from the first one.
Have a structure to systematize the testing process. Measure results, document conclusions, and choose new hypotheses.
Have an external mentor or more experienced colleague in the field to help with priorities. Feel free to reach out btw🙂
Good luck with sales!
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