The Pick-Me-Up Guide for a Failing Business

There are hundreds of reasons why a business might fail. However, if you look at the average list of reasons, some are far more common than others. In this guide, we will show some all-too-common reasons why businesses fail and what you can do yourself to stop it from happening to your business. Here’s the pick-me-up guide for a failing business.

Poor Marketing

Poor Marketing is one of the number one reasons businesses fail. Many start-ups think a few Facebook ads is enough and then wonder why they have no new followers. Or perhaps you went the Google Ads direction and ended up with a plan that just isn’t working for your business. New businesses struggle with their marketing plans as most people as budding entrepreneurs are jumping in the deep end without a lifejacket. They haven’t been to business school or had the experience of how to market themselves digitally. Have no fear. This is where this guide comes in.

Branding

Create a simple, professional brand for your business and keep it consistent across all your platforms and forms of advertising. Create a logo that stands out from competitive businesses and sums up your business perfectly. Ensure you name your business something catchy but clear. You want people to know what you sell from reading your name. Create handles and hashtags that show who you are and what you sell. Make them simple to spell and read so that customers do not have to work to learn more about your business. Link every aspect of your brand and socials to each other, so that your audience can jump between your sites and follow all of them with a few clicks of the mouse.

Audience

Know your audience and create your branding and advert placements entirely around them. If your audience is 60-year-old men who play golf, you might want to advertise in a local golf magazine as well as online and in golfing-related Facebook groups. If your market is a trendy young crowd looking to buy your new clothing brand, try Instagram, Vinted, eBay and Facebook for more of your audience.

Marketing Plan

If you try to move ahead with a business that does not have a marketing plan, chances are it won’t do well. Use an online template and keep your old plans so that you can improve on them in the future. Consider why something worked or didn’t work.

Check Your Site and Customers

Always check your sites using online checker tools to see how much traffic is going to them, what they are clicking on and perhaps at what point they click off. If all your potential customers are closing your website when they are at the checkout, then you could simplify the checkout process or have a pop-up to try and get them added to our email list before they get to this stage.

You can also request customer or site visitor feedback. This does not have to be made public, but you can use it to improve your services. It also means that it increases the goodwill between you and your audience as they know that you care about the business and can see the changes they mentioned be put into action and take effect.

Self-Confidence

Chances are, if you are reading this article, you may have lost some self-confidence. That is totally ok. Now is the time for you to get it back. 

Give yourself a break! You are setting up a business and you can totally do this. It isn’t an easy task and most new businesses find it a big struggle to get started. It takes time to get to where you want to be in online business and at some point, it will be worth all the effort you are putting in. Keep working towards your goals and you will always achieve more of them than you would do if you stopped going for it!

Hopefully, you have got a little from this pick-me-up guide. Remember to take breaks and give yourself some self-love and gratification for what you do. Being your own boss is great, you can buy yourself bonus chocolates and write your own letters of appreciation to yourself. Work hard but remember to take breaks and not overwork yourself or you will not get the same productivity as you would otherwise.