When Your Business Isn't Working, Do This. - podcast episode cover

When Your Business Isn't Working, Do This.

Aug 23, 20244 minEp. 10
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Episode description

Business isn't working? The solution probably isn't what you think.

Transcript

Hey, Bo here. Hope you're doing well. I wanted to talk real quick about a very common limiting belief that I think a lot of creators and coaches have that prevents them from being successful and having a business that actually gives them what they want. A business that feels easy to run and is very profitable. I think sometimes we have this belief that like if something that we're doing isn't working, that we need to do something else.

So for example, maybe you have a product, let's say it's an online course, and it's not selling that well, you're not making that many sales of that course. So you might think, well, I should create another product, right? I should create a second product and maybe that product will sell better than this one. And we do this. And I see a lot of people get stuck on this hamster wheel.

And myself included, I've done this so many times it's like you think you need to do something else because the thing you're doing isn't working. But you have to ask yourself, why is the thing you're already doing not working? instead of doing something else and adding something else to your plate, which is just gonna create more overwhelm for you, just take the thing you're already doing and make it work. If that product isn't selling, you don't need to create a whole nother product.

The product isn't the problem, it's the other things. It's the marketing of the product. maybe you're not getting enough traffic to the product, getting enough people to see the product.

Maybe you need to, change your launch strategy or build an automated funnel that sells that product for you and improve your marketing and your messaging around that product If you just did that and made the one thing you're doing successful, then you wouldn't have this need to keep doing new things and keep adding new things to your plate. And you could have a very simple business that gives you peace of mind and you could just sell one product if you wanted to.

I mean, I often tell people like, just focus on one product until. You have freedom. You know, like sell one thing until that one thing is producing enough income for you on a very consistent basis to give you the financial freedom that you want. And then maybe after that you can go create some other products and stuff. But until the one thing is working, there's no point in trying something else because you're not addressing the reason why the one thing isn't working.

So what you're gonna end up doing most likely is you're gonna go create something else. And the the other thing that you create, the second thing you create. It's gonna have the same exact problems as the first thing you create, if the first thing isn't working, it means there's some elements that you're. missing, there's something you're not seeing, and so you're gonna go repeat the same pattern with the other things you do.

you have these blind spots, you have things that you're not looking at or things you're not aware of. until you address those things, it doesn't matter how many things you create. Everything you create is going to have the same flaws, and it's still not going to work as well as you want it to. So what is the thing you're already doing and. Just make that better, make it better and better and better the product.

Make it better If it's not selling, you know, improve the product, improve the marketing, get more traffic. find different ways to get more people to see the one thing you're selling. Because if you can't make, let's say six figures a year. If you can't make six figures a year selling one product, what makes you think that having two or three or four products is going to get you to six figures a year? If you can't even make one product work, how are you gonna make four?

How are you gonna make 2, 3, 4, 5 products work if you can't even make one? just adding more things to your plate is not the answer. It's usually just making the thing you're doing work better. you don't need multiple social media platforms, you don't need multiple products. You don't need multiple. Sales funnels you don't need multiple lead magnets. You can be very, very successful with just one of each thing.

Have one lead magnet, one product, one sales funnel, one strategy for selling that product. And just do it over and over again until you're a master at it. And that's the strategy I recommend is just like, keep things super simple and then just constantly iterate on what you're doing and improve what you're doing. And this is the only thing that has ever worked for me. Like I've seen the pattern, like at any time I'm struggling in my business, it's always because I'm.

not listening to my own advice. You know, like I'm trying to do too many things and every time I've had the most success in my business, it's always been when I laser focus and I keep things super simple and I don't try to create multiple products, multiple lead magnets, multiple funnels, all this stuff. When you keep it simple, that's when you're able to scale your business with peace of mind. So just a suggestion for you, and I'll talk to you in the next one. Peace.

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