How Not To Run A Business Badly Like They Did
I’m sure Neil Young did not run a business like mine or even a business like yours. But that doesn’t mean you and I can’t learn a lesson on how to run a business from him.
The famous Canadian musician and songwriter was quoted as saying that the guitar is the easiest instrument to play … Badly!
And if you’ve been around as many guitar players as I have, you know Neil is right. (I won’t tell you which side of that fence I’m on;)
And I also know for a fact that the same thing is true about running an NLP business. Do you think it’s true about your business too? Is it the easiest business to do … badly.
Now the reason most people start and run their business badly is because it looks easy, and so most people start a business thinking there’s not much to it. But there is!
How Not To Run A Business
Check this out …
According to the website Statistic Brain:
25% of businesses go out of business in the 1st year
36% go out of business in the 2nd year
44% go out of business by the 3rd year
Only 37% of Information businesses are still in business by the 4th year! And an NLP business is an Information business, is yours?
And I would hazard a guess that those numbers only represent the businesses that declare their situation. Most small ma and pa operations quietly disappear, just like their hard earned money did.
But even more interesting is the Number 1 reason listed as to why these businesses go out of business – 46% Fail Due To Incompetence!
I’ve seen a lot of businesses go out of business including NLP businesses. And even more never start because people don’t have the basic knowledge about running a business. Even though it’s the easiest thing to do … BADLY!
Important To Know Who
Here’s something I learned early in my NLP business, you attract customers who are just like you.
Think about that because it’s a very important piece of information for you to be discovering. Especially if you ever find yourself complaining about your clients, or lack of them.
If you look but never buy, is that the type of customer you want? If you complain about good products because you didn’t go through the process, is that the type of customer you want?
Learn to recognize the type of customer you are getting and understand what you must do to get the type of customer you want, that’s important to know.
I’ve talked with many people over the years and one common statement from those who had a failing business was, “I did everything I could” – WRONG! – WRONG! – WRONG!
They did everything they knew how to do, which wasn’t everything they could. They could have learned how to run a business successfully and not been part of the 46% of incompetents.
A business that is run right is well worth the effort as there is no satisfaction as great as being your own boss. Calling the shots. Taking time off when you want to take time off, and not being limited by someone else as to how much money you can make.
You can listen to me tell you how to be successful running your own business or you can be like the 46% who are incompetent failures and listened to those other people.
If you stick with the latter just don’t tell me, “I did everything I could”.