CEO Warrior May/June 2019

MAY 2019


As a service-business owner, you have probably noticed that it’s getting more and more challenging to do business, and only a few will ultimately survive and thrive in the years to come. Your competitors are getting smarter and more aggressive. Some competitors are even pushing the limits on ethics just to win more customers. They’re becoming more talented when it comes to social media and marketing strategies. Many are learning to dominate local marketing like never before. The result is that any edges you’ve enjoyed in the past are potentially being wiped out — your competitors are either quickly catching up to you or have leapfrogged over you and are now creating distance. Meanwhile, your customers aren’t making it any easier. Many customers seem to be looking for the best service at the cheapest price, having been trained by Walmart and Costco to expect that much. And if they don’t get what they want, some will even threaten to give you a negative review that could hurt you. Other price-sensitive customers are researching costs online so they can question anything you write on your invoice, as if they don’t want you to have any profit margin. You know I’m only scratching the surface. Marketing costs are going up. Social media is getting noisier, and it’s getting harder for service businesses to

be heard and seen. People are busier and have less time, but they have become more demanding. And I haven’t even started talking about how hard it is to get people into your company so you can serve your customers at the highest level! Luckily, it’s not all bad news. Here at CEO Warrior, we’ve identified two key ways that the smartest, most successful service businesses win … and we’re sharing these with you so you can build your success plan with them. The first way that service businesses can win is to learn. You can’t just rest on your laurels and keep doing what you’ve always been doing. That’s a recipe for costly disaster and your company’s eventual death. Let me ask you this: Have you seen a Blockbuster video lately? Of course you haven’t. They were a massive company that people loved, and many thought they’d be around forever. The problem is that they rested on their laurels and didn’t bother to learn how the market was shifting. Today, Blockbuster is essentially dead. Unfortunately, that is the fate of service-business owners who think they can continue doing what they’ve always done to enjoy the success they’ve always enjoyed. NO. 1: LEARN TO GROW

The better way is to learn. No, you don’t have to go back to college to get a fancy degree; you need to seek out an expert who has built a successful company and teaches others to do the same. You need to connect with them and find out how they did it. Find the expert and model their strategies and tactics. Make this year the year you catch up with your learning to put your company on the right track to grow like never before. The other success factor that service- business owners need is action. Once you learn something, it’s in your head, but it needs to be acted upon in order to benefit you. This is the other challenge that service-business owners face: When I tell people that they need to learn, many say “Oh, I’m already learning; I’m in an organization that helps me already.” And I reply with, “Great. When was the last time you got something actionable from them that you can use to grow your business?” and “When was the last time you actually rolled up your sleeves and implemented whatever it was that they taught?” NO. 2: ACT TO GROW

Continued on Page 3 ...


Made with FlippingBook flipbook maker