this post was submitted on 17 Nov 2023
1 points (100.0% liked)
Entrepreneur
0 readers
1 users here now
Rules
- No Personal Attacks - criticism of ideas is allowed, attacking people is not.
- Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
- No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
- Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.
Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.
founded 10 months ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
It's understandable to feel discouraged when your business isn't generating enough money to support you. However, it's important you take some time to reflect on your situation and consider some salient facts below.
There is a clear reason why your business is not making enough money. It could be due to poor marketing, pricing issues or an inefficient business model. Figure out the root cause and then start to develop a plan to address it.
The truth is, you have to give your business enough time to succeed. Most businesses take time to mature and become profitable. Don't get discouraged if you haven't achieved your financial goals.
Be prepared to make the necessary changes to turn your business around. You have to make strategic change in the area of marketing, customer service and product quality. Struggling business can thrive if you employ effective marketing strategies especially SEO and Social Media Marketing.
Taking on a part-time job to supplement your income while you work on growing your business is a good advice but you should not quit your business because you are not much today. Obviously, there things you need to address to make the business work. You need to answer this salient question “Why is it that the same coaching business that generated $6k is barely generating $2k? Some issues have to be addressed to make your business profitable again and even surpass the best results you have ever got.