3 Reasons Why Businesses Fail

The difference between being an S (Self Employed) versus being a B (Business Owner) on the same quadrant is that the B can leave the business and it will still run without him. People who are in the S quadrant cannot do so without ruining their business. The S people are the people who run the business. Without them, their business fails.

Most people who are super super S are the smartest folks in their business. But it also means the business runs them, they can’t take a day off, they’re NEEDED desperately to run the business or it all collapses.

Here’s where things are different in the B side of the quadrant. The B (Business Owner) should not be the smartest guy in his business. His goal is to work with smarter people and run the business on systems. This means he’s not chained to his business. He can leave for a while and the business still runs as efficiently as ever.

The top 3 reasons are simply about failure to sell.
If you cannot sell, your business is doomed.

#1: Selling yourself.
The first thing you sell is yourself. That means how you look, what you wear, how you speak. It’s the visual appearance that helps you sell yourself to your potential customer. It’s called respect for yourself and the people you meet. At least look presentable and neat if you can’t be fashionable. Nobody really wants to look at your torn jeans and scruffy I-fell-outta-bed hair.

#2: Selling the relationship.
The next thing you need to sell is the relationship. You need to know what the relationship is between you and the prospect. If you don’t know what it is, then how are you to sell what they need? What is the connection between you and the other person? What are you tryng to do? Get this right first.

#3: Selling the product.
Only if you have managed to convince others of YOU and the relationship, can you sell your product. First step is that you have to believe in your product. If you don’t, you ain’t gonna sell anything. If you don’t have enthusiasm for the product, how about faking the enthusiasm? Fake it till you make it.