I've seen this happen again and again.

Let’s Talk About Why MOST Great Service-Based Businesses Fail (even if they are totally awesome at practicing their craft):

Here's what I've noticed:

*Their website doesn’t convert, doesn’t exist, or hasn’t been updated in over a year.

*They don’t understand their audience’s needs.

*They think just referrals are enough to keep a business growing.

*They are resting on their laurels instead of actively seeking growth.

*They are working IN their business but not ON their business.

*They haven’t priced themselves appropriately.

*They are relying on deal sites like Groupon that take more than they give.

*They aren’t offering what clients want, when they want it, where they want it.

*They aren’t on social media or leveraging it well.

*They are unaware of how to create an internet presence.

*They aren’t leveraging their reviews and sites.

*They don’t understand SEO.

*They overpay for space and underuse it.

*They haven't learn to delegate to Virtual Assistants.

*They haven't automated their systems yet.

*They don’t understand finances and where money is missing.

*They are scared of bookkeeping software, or don't use it.

*They tolerate poor behavior from some clients (no shows).

*They lack firm boundaries.

*They haven’t connected with other local businesses

*They haven’t diversified their sales channels and depend on only one or two referral sources.

*They are afraid to have uncomfortable but necessary conversations.

*They are terrified of making a costly mistake.

*They want everything to be perfect, which leads to procrastination.

*They don’t take enough risks.

*They are overwhelmed, don’t have enough support, and don’t know how or where to ask for it.

*They haven’t learned to overcome fears around "selling", and the thought of selling seems gross or scary.

*They’ve been socialized not to “brag” and can’t promote themselves well.

*Their business practices are unsustainable (trying to see too many clients, not enough breaks in between).

*They avoid doing the things they need to do to get done.

*They are spread too thin, feel like they are failing all the time, and burning out.

So much of the success, or failure, of a business has to do with the owner's psychology, and willingness to make it work (or learn how, or delegate what's not working).

What are things you are tolerating in your business? Or avoiding doing?

Written by: Rachel Beider