Each week we have businesses queuing to discuss the downturn in sales and stress of keeping the wolves at bay. If this does not reasonate with you then we’d say you either are very lucky or you won the lottery. The majority of businesses are in chaos and they turn to us, sometimes too late.

At The Engine, our Advisors, along with our specialist provider community we focus on the action and ROI. We reignite your business and achieve business success – such is our track record. In these challenging times, there are three essential things your business needs right now, along with one crucial action that can save you & your staff money and provide your staff value.

1. Cash is paramount.
It’s crucial to review your business and personal expenditures & lean up, make tough decisions about retaining team members, and strategise to replace lost sales revenue. Seeking help to strategise and possibly restructure is key, and our previous newsletters on addressing tough realities struck a chord with many of our readers.

2. Visibility is vital.
Despite the temptation to cut marketing to reduce costs, it’s important to consider whether all team members are required. Neglecting marketing can lead to your business becoming the best-kept secret, while competitors gain ground. Yes it’s tough to lean up and cut, but without proven key startegies you may be staring at a different barrell. No sales, no visibility = no business.

3. Experience.
If you’re serious about surviving this economic downturn, having experienced advisors is essential. At The Engine, we bring a proven track record of working with businesses from various industries. Our Advisors have been in your shoes (still are), actively involved, and have successfully built and grown companies similar to your aspirations numerous times. Success & survival depend on the expertise you have with you, and our specialist community has the strategic guidance needed for your business and our approach brings about accountability, ensuring that your plans are executed with precision and effectiveness. *Your business may be eligible for capability funding too.

Lastly, join the many businesses with The Engine’s Business Membership – the most sought-after membership in this economic crisis. There is no other business membership that provides cost savings to you and your team. With significant financial pressures facing businesses, our membership offers valuable savings for businesses of all sizes as well as could be the value you need to keep your team when you can’t afford pay increases. Each membership includes a 2-hour coaching session to assess your needs and provide tailored suggestions.

Navigate by clicking on the far right or left of the pages below. 

– Catherine Cooke
Founder and Leading Business Advisor 

In essence, having an elephant in the room signifies a glaring issue or challenging circumstance that everyone avoids addressing. So, let’s confront the elephant in the room. It’s a major factor contributing to the downfall of many businesses, and it’s high time we acknowledge it openly.

Neglecting this fundamental aspect of your business renders everything else irrelevant.

Can you hazard a guess? It’s not even the calibre of your hires. It’s not your marketing strategies or even your branding efforts.

The primary reason behind the staggering failure rates of small businesses is their inability to effectively sell their products or services. IT’S A FACT! No sugarcoating, no falsehoods. You don’t need a meticulously crafted brand identity to start generating revenue for your business.

No matter how many branding experts insist otherwise, it’s simply not the case. Drawing from my experience as a multi-business owner who has built one company from $0 to $10M turnover and helped 100’s and 100’s of businesses to grow revenue, I can assert unequivocally that salesmanship is the paramount factor in business success. Without sales is the number one reason why businesses fail!

We hear often from business owners “I despise sales! Can’t I delegate it to someone more skilled?” True, you absolutely can, but let me explain why that would be a monumental error in your entrepreneurial journey. You are placing the entire burden of driving revenue on another individual which will leave you and them in a bind because you lack a comprehensive understanding of your business’s sales strategy, plan, activity, and sales cycle.

This lack of understanding of your sales cycle will hinder your ability to properly train someone.

You won’t fully grasp your customers’ objections. You won’t be able to coach and support your sales team if you don’t even have a strategy, let alone a plan. You won’t have a solid process in place to effectively train someone else.

The only way to truly comprehend the sales process is to dive in and sell! Immerse yourself in the nitty-gritty of sales and start generating revenue for your business. The moment you empower yourself as a salesperson in your business is the moment your business will grow.

Navigate by clicking on the far right or left of the pages below. 

– Catherine Cooke
Founder and Leading Business Advisor