Can’t I just “do” my business. Why do I need a strategy? I don’t have time to create a strategy; I’m too busy building my business!
Myth 1: I don’t need a strategy – my product sells itself.
Would you build a house without a plan? Even professional contractors have a plan for each project. Maybe they’ve been in business long enough that they don’t have to write it out each time, but they still have a plan.
How would you feel if you went to a home builder to purchase your dream home and you found out they don’t use a blueprint?
Myth 2: I am too busy building my business. It’s too late to create a strategy.
You’re already in business. You’re neck deep in building your business, expanding your list, connecting with customers, etc. Why should you bother?
You’ve already got the house. But now you want to make your home better. It’s time to renovate. Doing home renovations without strategy might mean you paint first, replace the windows, then do the floors. Then you suddenly discover you need to renovate your bathrooms and you’ve spent the bulk of your budget on the floors.
This is what happens without a strategy.
With a proper strategy (aka a plan), you determine what are the priorities plus how much time and financial investment is needed. Then you make intelligent decisions for your renovations.
Myth 3: It’s too expensive to stop and look at strategy.
How can you possibly stop for even half a day to look at strategy? Those hours are lost, spending money instead of earning it.
Key question: are you building a business or is this a hobby?
How much more is it going to cost you by not taking the time to create your strategy? You’ve spent years studying, thousands of dollars on training, to become an expert in your field. But if you’re not spending time and money on your marketing and automation, you are literally leaving money on the table.
Myth 4: Consultants are a waste of time and money.
Absolutely! Consultants are a waste of time and money. If you don’t connect with the right consultant or you don’t put their expertise to good use in your business!
What to look for when choosing any consultant:
- Can you talk to them?
- Do they listen to you?
- Do they understand your business and your processes?
- Can they take your ideas and transform them into an implementation strategy?
We are marketing experts. When we have a sore tooth, we do not expect to fix it ourselves. We consult an expert – a dentist. You’re an expert in your business and in your customer. Consulting an expert for your marketing, strategy, and automation makes logical sense.
Myth 5: I don’t need to apply strategic thinking to my sales funnels. I just create them and it will work.
Perhaps you’ve created some automation and strategy that’s bringing in leads. But what are the results? Have you looked at your analytics?
The concept of sales funnel is simple – get the contact in, move them through the buyer’s journey where they purchase (ideally) and that’s usually where it stops. But, if you keep in touch, whether they purchase or not, it leads to long-term results instead of one-time sales.
How does that happen? With follow-up and segmentation. Give people what they want, when they want it. Staying connected with your audience through effective follow-up will improve your strategy and your results.
Myth 6: Strategies that work for online business won’t work for a brick & mortar business.
Whether your business is online, offline or both, the key to any business is knowing your customer and giving them what they want.
This strategy applies to all businesses, it’s simply a matter of how you connect with your customer or prospect.
Analyzing your results will determine which pieces of your strategy are working, which need to be tweaked or changed completely. For example, if you’re selling investment products but you provide no information to your prospects about when and how to invest, then this needs to be added to your strategy.
Myth 7: Creating a strategy is too hard to do.
The hoping and praying strategy is the poorest strategy. If you don’t have a clear strategy, then this is your strategy. Instead, become the architect of your life and your business – design a strategy that meets or even exceeds your own expectations!
How do you get started? Uncover more strategy tips in our latest free eBook, “The ABC & D Formula for Marketing & Automation“. What is your biggest obstacle in creating and implementing a strategy in your business