3 Powerful Keys to Overcome the Obstacles to Growing Your Service-Based Business

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3 Common Obstacles to Growing Your Service-Based Business

Summary:

I have the immense pleasure of working with a diverse group of business owners making a unique difference in their communities and lives of their clients. From bakery owners, to financial service providers, to business coaches. Many business owners and entrepreneurs start out because they have a dream of making an impact while achieving financial and time freedom for themselves and their family. 

Expertise and a dream, while both invaluable to starting a successful business, is only part of the equation when wanting to grow and scale that business. Taking that next step can be tricky and a bit scary because it’s new territory, they’ve never been there before. Knowing the right steps to take and in what order to grow and scale is often where business owners get stuck.

Service-based business owners are exceptional. They have incredible knowledge about the services they provide and the expertise needed to create raving fans and repeat customers. However, when it comes to growing their business, they often get stuck. In this article, I will be sharing 3 obstacles that small business owners often state as reasons for being unable to grow their business and the steps they can take to achieve the growth they desire.

3 Obstacles to Growing Your Service-Based Business

In my experience, small business owners experience three main obstacles to growing their business that cause them to be stuck and not know what to do to take their business to the next level.

Obstacle 1: Knowing What To Do When

Knowing What To Do When

“Where do I start?” Business owners have a tendency to get stuck in the busyness of their business. They are spending more time in their business than working on their business and therefore become more reactionary than strategic. 

The minute you get out of strategy, you get out of that strategic intentional driver's seat of your business, you start having more problems, more fires, and many more hurdles to overcome on your growth journey. Getting back in the driver’s seat and strategically focusing on your business will help you see what you need to focus on first, second and third AND what you need to stop doing.

A great way to overcome this is making a to do list for your business and deciding from there, what is your top priorities to do first. 

Obstacle 2: Having the Money to Invest When You Need It

Having The Money To Invest When You Need It

The second obstacle, is getting stuck between a rock and a hard spot. The rock is money and the hard spot is time. Most of us get into business to grow and when we think about growth, we think about more clients, more money, more revenue. 

Often business owners find themselves in this spot of not having enough leftover to be able to fund the things they need - new team members, new marketing, new technology, and things that would make it easier to do your job. On the other hand, you're so busy serving the people that you're serving, that you don't have time to do it all yourself anymore. This is being stuck between a rock and a hard place.

To get unstuck, business owners need to find a way to get the cash flowing so they can invest in the most important next steps to growth. They also need to ensure that they are having a work-life balance that suits them so that the dreaded burnout can be avoided. 

Obstacle 3: Focusing on Things That Move the Needle

Focus On Things That Move The Needle

Your business is unique, unlike any other and what has worked for other businesses may not work for you. When we don’t have clarity on our next step, we have a tendency to look around us and try to implement what has worked for others in our own business. It’s a natural tendency - we are bombarded with one hit wonders and magical formulas. Stop. Just stop. Just because they worked for someone else, doesn’t mean you can apply the formula to your business and get results. So many business owners have become deflated, lost confidence and money by following someone else’s plan. 

Creating a strategic, customized plan for your business that takes into account your business needs, cash flow and uniqueness is the only way to effectively and efficiently grow your business. You have to get into the driver's seat, shift into gear and focus on the unique service you provide, the resources you have at your disposal and create a clear, custom plan for growth. Doing so will help you get unstuck and moving in the right direction.

Final Thoughts

Every business owner struggles with one thing or another in their business. Today I have shared with you three common obstacles for growing your service-based business and how you can overcome these.

Knowing what to do and when troubles many business owners. Remember to hop in the driver's seat and take control of your business' to do's. 

Our second obstacle is being stuck between time and money. It is important to improve on cash flow, but equally as important to prioritize your needs as well. 

Lastly, focus on things that move the needle in your business. Find things that work for YOU! It may not always fall into alignment with a plan that someone else said works for them. 

Are you still feeling uncertain about how you can apply this to your business? Reach out to us today! We specialize in helping businesses grow and scale and find predictable profits. We can do it for you too. Let's Chat!

Business Motivation Speaker

Leslie Hassler

Leslie Hassler is a dynamic author, speaker, and business strategist guiding businesses into more profits, cash flow, and success. Business owners come to Leslie seeking a way to strategically scale their businesses richly, stop the money leaks, and get back in control with confidence.

Using her more than 15 years of experience in business, finance, mindset, and more, Leslie takes multiple 6 and 7 figure businesses from cash-strapped and struggling to profitable and thriving with her unique Profitable Growth Incubator program.

Her genius has also been featured on stages around the United States, such as the National Association of Women Business Owners, the Women’s Business Enterprise National Council, and in publications such as Entrepreneur.com. 

Leslie is a mother of two high school boys, an avid traveler, a Past President of NAWBO DFW and an alumni of the Goldman Sachs 10K Small Business program.

If you enjoyed this article, check out What's A Business Growth Plan And Why Do You Need One?

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