What is a miracle again? It has no likelihood of happening again. That's the definition of a miracle, and that's how many entrepreneurs run their businesses. Stay with me.
Whether you own an offline business or an online business, whether you're just starting, struggling to make N100,000 monthly, or you're hitting the N1,000,000 mark back-to-back every month, you'll learn a lot from this. A lot of things about how we run businesses are changing on a daily basis, but only a few are realizing this. Many are simply basking in the euphoria and forgetting that change is not a respecter of a business. Many people are running their businesses solely based on hopes, assumptions, and miracles. Stay with me. Last week, I was in a conversation with a Real Estate company. I went to speak to the company about a product my team and I are building. I wasn't hired to provide a strategy for them. But as expected, after the brief session with the CEO, we discussed a bit about his business.
He complained of how sales have been dwindling for them. According to him, they have been making sales by the mercy of God.
This month they are making xxx amount, next month xxxx, and next month they are back to x. Their revenue keeps zigzagging like an ocean wind. So, I asked him how the people of the Month that they made xxxx knew about them. Blank, he became. Then I said to him, your business is truly a miracle. It has no likelihood of happening again. I was so blunt that I nearly felt it. I quickly remembered Paul Freet's definition of a business as a repeatable process that makes money. The keyword is 'a repeatable process.' You see, one of the things I've come to realize as a businessman is that if you cannot repeat, reproduce, or duplicate the exact process that helps you make xxx amount last month, your business is critically endangered.
The idea is, if your business generates xxx this month, can you reproduce that result next month?
If through your marketing activities, you got 12 clients this month, can you get the same 12 clients next month? I'm usually very surprised that many entrepreneurs are not taking notice of these little things. For me, once you come in contact with my business, among the first questions I'll ask you are:
- How did you find us?
- What made you decide to contact us?
This is so important because I want to know what's working, focus more of my youthful energy on that thing, replicate it, and build upon it. If, from my conversation with you, I discovered that 90% of those contacting us find us through our website. What does that tell me? That I should focus more on my website strategy than any social that doesn't meet up. You have limited resources to expend. So, focusing on that one thing that brings the most results is critical.
