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| Name | 5 Big Mistakes You MUST Avoid in Business |
| Video Uploader | Video From KeyPersonOfInfluence |
| Upload Date | This Video Uploaded At 10-12-2023 09:15:03 |
| Video Discription | Launching a successful business is hard work and most businesses struggle at one point or another. Free Online Zoom Class - https://bit.ly/workshop-dec-2023 Here are 5 of the most common mistakes small businesses make when trying to grow and why they are holding you back. These 5 things might challenge some common beliefs, but they're essential for true success. Here's Daniel Priestley's advice if you want to grow your business. 1. Avoid Passive Income: Contrary to popular opinion, chasing passive income can lead you astray. It's about making money from things you're not passionate about. Instead, focus on 'asset income'. This means creating valuable assets that benefit others. To do this, you need understanding, curiosity, and passion, qualities that others respect and admire. Building wealth comes easier when you focus on valuable assets rather than passive income. 2. Don't Underprice Products: There are two kinds of customers: those who spend time and those who spend money. Aim your business at the latter. These customers value their time highly and are willing to pay for solutions that save them time. When you have a choice, cater to those willing to spend money. 3. Diversify Your Offerings: Avoid relying on a single product or service. Create a 'product ecosystem'. Start with a free offering, like an online masterclass. Then offer something inexpensive, like a book or event. Your core product or service can have different versions (gold, silver, bronze). Finally, consider a subscription service for ongoing value. This approach gives customers choices and keeps them engaged with your business over time. 4. Build a Team: Business isn't a solo journey; it's a team sport. Surround yourself with a team, and partner with those who have the resources you need. Whether it's funding, contacts, products, or distribution channels, partnering can propel your business forward. Successful businesses focus on their strengths and partner for the rest. 5. Expand Beyond Referrals: While referrals are great, don't rely solely on them. They're the icing on the cake, not the main growth strategy. Explore other avenues like paid advertising, SEO, content marketing, and affiliate programs. Aim for at least five or six different ways to reach the market. This puts you in control of your growth, rather than passively waiting for referrals. These are five key areas to focus on for a thriving business. They might go against the grain, but they're critical for success at speed. Interested in more insights and strategies? Join our upcoming workshop at Dent Global Workshop. https://bit.ly/workshop-dec-2023 - Free Live workshop Don't miss this opportunity to learn and grow your business. Subscribe for regular updates and be the first to know about our next video release. [bXkKeim9N-g] |
| Category | People & Blogs |
| Tags | successful business | avoid passive income | earn money | entrepreneurship | business growth | building a business | financial success | business mistakes | entrepreneur tips | avoiding pitfalls | achieving success | financial independence | money mindset | build wealth | valuable assets | asset income | build a team | expand beyond referrals | don't underprice products | diversify offerings |
