Starting up in business within the professional services industry can be challenge for many as their skills and expertise lie in their professional knowledge. Many think that this is enough for them to be successful in running a profitable business. However, this is often not the case and I am going to share 2 of the biggest mistakes that I made when I first started out.
Having the wrong focus
When I set up in business, I foolishly had an inflated opinion that because I was experienced, qualified and with a bulging tool kit, that my customers would be queuing round the corner for my services. It didn’t happen!
You may be the best coach, trainer, copy writer in the world but that does not mean that your business will take off and grow. Whilst it is important to work within and exceed professional standards, being the best, most qualified, most experienced in your field does not convert to being the best in business.
So whilst you may be a master in your professional field, there is another area to master and that is business building skills such as selling, marketing, networking, cash flow, budgeting. And personal skills such as presenting and speaking, building connections and relationships.
Selling coaching / a service
Yesterday I took my car to the garage as there was a fault with it. I didn’t ask what he was going to do nor did he volunteer to tell me! And if he did, I am not sure that I would have been interested. My main concern was that he was able to fix it.
Reflecting those years ago, I unfortunately did bore my potential customers with details of processes of what I was going to do and how. And as a result did not convert many of them into clients.
There is an adage, when people buy a drill, what they are actually buying is a hole. Your business is the same. Clients buy solutions to their problems so market and sell your service as solutions and results.
What mistakes did you make and how you did you solve them?