In my last 2 blogs, I started a 3-part series on Why Entrepreneurs Fail and today we continue the conversation by going into the A of AVP. In this series I am sharing insight from an article in Forbes Magazine where they shared a report published by Bloomberg that said, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. I am writing this blog to give you the strategies so that you can be in the 2 out of 10 who DO make it!
Quick recap. In my last 2 blog’s I shared with you 3 of the 5 reasons entrepreneurs fail, according to Forbes Magazine & Bloomberg, and the strategy to increase it which is growing your AVP status Here’s what it takes to be the real AVP:
Be the Authority. Build Visibility. Develop a Platform to Profit.
We walked through both Visibility & your Platform to Profit so for this our last in the 3-part series, let’s look at the last 2 reasons entrepreneurs fail according to Forbes;
Reason #1: Not really in touch with customers through deep dialogue.
Reason #4: Leadership breakdown at the top
To reach success as an entrepreneur as a coach, consultant, speaker, expert or author what I have learned in the over 20 plus years that I have been in this work, I have seen how the
solution to #1 & #4 speaks to A = Be The Authority which is really in you standing in the power of YOU! Your expertise, your gift, that know how that everyone comes to you for. Well I hope you understand that people will pay you more for what you know then what you do! It is in what you know that people need and when you stand in the authority of that expertise in you and stop discounting it, overlooking it, or downplaying it people will pay you for it! You have to know there is a whole market out there that NEED YOU! So the key here lies in three things;
- Understanding the niche your expertise is for. I know for years when I was not successful in my business I thought I served every woman and well that is just not real. There is a target group of women entrepreneurs who are coaches, consultants, speakers, experts, authors who are a great fit for me. See it is not every entrepreneur but an even more segmented part of that population. Just like there is a segmented part of the population that needs you. The question is, do you know who they are?
- What do they need? Often times I hear entrepreneurs that I coach start to explain to me what people need and I have to ask them, how do you know they need that? To really answer this, you must do a thorough assessment to get insight from your clients. If your business is going to be successful it is contingent on you meeting your clients where they are! Not where they should be or where you want them to be. The key to running a successful business is in understanding where they are and the result they wish to obtain which would have them say YES to work with you to get there.
- Your Business Will NEVER outgrow you. I am amazed at the number of women entrepreneurs that come to me and have hit a plateau. They were successful at their startup phase but 2 years in, they have not grown from there. Here is what I tell them, you must invest at the level to which you want to see the return. What do I mean? If I do what I did last year or even the year before and expect something different, I am in for a rude awakening. If I keep repeating the same thing over and over what will I get, the same thing. So, for the businesses that I do not see growing, do you know the one thing standing in their way? The CEO. The CEO who is not investing in their growth. To master your next level of success you MUST be committed to lifelong learning and growing. You have to be willing to ask yourself on a constant basis – what do I need to learn to get to my next level and then go find the coach, the mastermind, the course that will teach you what you need to get there.
To become the successful CEO of your business, you must master being the person your ideal client needs, allow them to see the value you bring and then and only then will they move forward to PAY YOU! That all starts with you standing unapologetically in your expertise and not just knowing it but being committed to growing it by assessing your clients’ needs and investing in your next level of growth. Just imagine if apple computers decided they were fine with the first computers they created in 1976. I am sure you can imagine that they would have never grown to the heights they have now. We would definitely be nowhere near seeing an iPhone and dare I say they would have found themselves in the group of 8 business owners who don’t make it. Let’s make sure you are one of those 2 that do! It’s time to STAND IN YOUR AUTHORITY!
All of the steps I shared in this 3 part series REALLY should be present in your business plus there is so much more which is why I am hosting a 2 Day Intensive in Dallas Texas on September 29 & 30 called Be The Answer
What I know for sure is that if you read this far down in this article, it’s because there is a call of exponential excellence and impact on your life, and it’s one you cannot continue to ignore. You may be dabbling in it right now, but we both know you’re not playing full out. Does any of this sound like you?
- You have achieved so much in your business, yet you still want MORE?
- You are an action taker and have this deep desire to obtain your next level of success. You want to move past where you are and increase your INCOME and your IMPACT or start to write your own paycheck?
- You’re know it’s time to stop living in hustle and trading your time for dollars in your business.
- If this is YOU or anything close to it, it’s time to stand boldly in your authority. You have a God-given gift that is meant to serve this world and a message that is meant to both make a difference and money. You are the answer someone is waiting for. And you need the proven success strategy to push you past inspiration and ideas and into ACTION.
This is an EXCLUSIVE opportunity for women passion-preneurs who are SERIOUS about making a difference and making money while you do it!
Learn more & register to join me at www.BeTheAnswerEvent.com