So as you previously discovered in part one, (at least hopefully you did!), even though on the surface anyway, it may seem like raising the corporate tax is a really good idea, most of the really sharp real world experts (translated) men & women that have actually owned and operated some form of business, realize that overall, it’s not really such a good idea.
But as we also previously discussed local, state and federal Governmental policies, (as painfully inconvenient as they can sometimes be) isn’t necessarily the real reason(s) that far too many otherwise extremely savvy entrepreneurs struggle either!
But just to (virtually) close the evergreen “Hatfield s vs The McCoy s debate about higher corporate taxes or not.
The main point of my little rant was this: if you (unfortunately) are still of the mind that somehow raising the corporate tax rate is a viable solution to whatever….
You definitely need to understand that ultimately (it’s) either the consumers, (through higher prices) or share holders ( through lower dividends) or employees of the corporation (through stagnant or lower wages) that ultimately pays, as a result of a higher corporate tax.
(But not the corporation itself.)
Now another similar situation that could happen whenever your local Mom & Pop business has a vendor that suddenly decides to become unionized.
(Nothing against unions per se! So please no hateful comments and or hateful emails! Thank you very much! Just saying!)
But should that be the case, therefore the cost of doing business with that particular vendor invariably goes up! But again, that’s not necessarily under your control. But the following three remaining reasons why far too many extremely savvy entrepreneurs struggle, these most certainly are!
So Why Do So Many Otherwise Extremely Savvy Entrepreneurs Constantly Struggle To Make Ends Meet?
Now that we’ve covered some of the all too common reasons (some) entrepreneurs like to present as the reasons (or at least) partial factors as to why they constantly seem to struggle.
Even though they can’t control any of the previous situations presented. Let’s now shift gears and explore the remaining three reasons, over which they most certainly do have control.
3.) Reason extremely savvy entrepreneurs struggle reason # three: (this one is huge!) Failure to automate the right things already! For ex; often times (oh so) reluctant paying clients can obviously see the point of at least having a website of some kind.
Even if it’s nothing more than of the gloried static brochure variety! But they’ll often as;(Mark!) why the heck do I/they need a so called paid autoresponder service?
‘That’s just another expense that I really can’t afford right now!” Now granted; of course if they do decide to get a paid autoresponder service, yours truly fully expects them to purchase the service from the company I currently use, since I’m a paid affiliate!
And I readily disclose that fact up front! However, no matter many how different ways it’s pointed out, that they don’t have to constantly spend money on ever increasing, outrageously expensive newspaper, local TV and or radio ads etc.
Automate Whenever Doing So Strategically Increases Your Time And Productivity Leverage!
They pay one relatively low monthly fee until their opt in list reaches (in this particular case) 500, then their price per month increases! But the money they save over postage and typesetting (each time) for periodically mailing post cards etc.
They can more than make up for it by ethically bribing their list into bringing others with them to their place of business for additional savings, cool prizes and other marketing goodies etc!
And you try (typically in vain) to point out, that they could just use their paid autoresponder for their best VIP customers and or clients and just send them periodic (non pre written) broadcast email messages!
(For those of you not necessarily familiar with that particular term just yet. A broadcast email simply refers to an email message that’s not part of your already pre written follow up email marketing message sequence.
In other words it’s an unscheduled email that you send on the fly!) So in the case of a clothing store, maybe their about to discontinue and or do a clearance sale on a ton of ladies accessories! Or they need to clear the summer ware and make room for the fall and winter clothing line etc.
Why not only send a couple broadcast emails to your best 57 (or X number of really big spending female customers), (or prominent local women executives and or managers etc.) to alert them of this once in a lifetime “fire sale!”
And reward (bribe) them with even more savings, for bringing a potential new customer, provided they’re over 21. But alas, they continue to resist economic reality! And don’t want to automate that much just yet! Go figure!
Basically You’re Continuously Struggling Because You’re Not Investing Enough In Product You Inc!
4.) Reason extremely savvy entrepreneurs struggle reason # four: Another reason far too many otherwise extremely savvy entrepreneurs struggle is because they are totally convinced that their business, product or service is X! Huh? And don’t totally understand and or truly appreciate that, while X may be what they do!
If they don’t quickly become at least semi proficient at marketing X! They are either (A.) going to continue to struggle mightily! Or (B.) they’re going out of business altogether!
5.) Reason extremely savvy entrepreneurs struggle reason # five: This last point piggybacks off point # four. Far too many otherwise extremely savvy entrepreneurs are marketing savvy adverse! Meaning; not only do they not readily embrace the fact that they’re not very good at applying basic (proven) marketing techniques, tactics and strategies! And they readily resist trying to learn them as well! Be they for on or offline marketing purposes.
Entrepreneur this is simply a long range recipe for eventual economic disaster! (Seen it happen over and over!) Rather than take (make that invest) 30-60 minutes per day.
After they’ve closed their doors of course! And learn “how to” craft laser beamed benefit laden power headlines, in order to attract 15 to 60% more prospects from the exact same overall ad copy!
They much (prefer) instead to invest an additional hour or two per day mindlessly posting pictures on FB! (Or other social media platforms.) Or by participating in some can’t win argument on there as well!
Too bad! But in any event, as long they continue to write checks! It’s all good! But hopefully, you get and can appreciate the real point! Far too many otherwise extremely savvy entrepreneurs struggle, for those five main reasons given. Don’t you agree?
Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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Mark,
You are so right. I have set up autoresponder messages a few years ago that new subscribers still receive. And I don’t have to re-invent the wheel. I do go into the system at times to update a few things. And I intend to send more current emails to my lists as I have something to offer. I would feel lost without my autoresponders, and I have always paid for them. At this point I have 2 separate systems.
And then when you talk about marketing, so many therapists and health care practitioners do not think they should have to market their practices – but they do. Maybe years ago it was just a local word of mouth thing, but the internet has made the world much more competitive and marketing properly is key.
Warmly,
Dr. Erica
Dr. Erica Goodstone recently posted…Do You Know The Secret to LinkedIn Ranking?
I couldn’t agree more!
And if I could echo your sentiments about the mindset of certain professionals, like therapists.
Obviously you know this far truer than I, but as you accurately pointed out,
some of them are under the misguided notion that some how they don’t need to
pro-actively market their services.
When clearly that is so not the case. and like you, it probably wouldn’t be worth it
to try and compete online without some type of paid autoresponder service.
Especially since all of my (our) major competitors have them! that would just be too big
of a mountain to try and climb.
I must say in all honesty Dr. Erica you are by far one of the most savvy and brilliant marketing astute
professionals I’ve yet to come across! Seriously!
Far too many in your professional (for some odd) reason, seem to feel or think
it’s beneath them! until their practices are on the verge of closing that is!LOL!
In any event, thanks so much for sharing your extremely valuable real world insights and your continuous support!
Both are greatly appreciated!
Thanks Dr. Erica!
And if I could, I must echo your exact same sentiments about some (certainly) not all professionals.
Far too many in your industry seem to just think opening a practice is enough to
have a successful one. That is until their on the verge of closing!LOl!
But I must say in the same breath, you are by far one of the most
brilliant and marketing savvy professionals, I’ve yet to come across thus far!
Seriously! And like you, I think without a quality paid autoresponder service, it simply would not be
worth it for me to try and compete online!
Especially if my major competitors had one and I didn’t!
Thanks as always for your continuous support an for sharing your extremely valuable insights!
both are greatly appreciated!