How To Fix Your Broken Business – 7 Questions To Ask Yourself

Many times, as entrepreneurs we create a business that transforms into something we aren’t happy with. There are many reasons to be unsatisfied with your business such as lack of profitability, not being fulfilled like you thought you would be, and the business is starting to be more of a hassle than a joy. On today’s Black Entrepreneur Blueprint podcast episode # 379, I’m going to do a case study about my BEB business and how I plan to fix it. Visit www.BEBConnect.com

BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 379

Many times, as entrepreneurs we create a business that transforms into something we aren’t happy with. There are many reasons to be unsatisfied with your business such as lack of profitability, not being fulfilled like you thought you would be, and the business is starting to be more of a hassle than a joy. On today’s Black Entrepreneur Blueprint podcast episode # 379, I’m going to do a case study about my BEB business and how I plan to fix it. Visit www.BEBConnect.com

  1. Is your business enjoyable for you, if not why? (do the things you enjoy and farm out the rest)
  2. Is your business on track to meet your projections, if not why? (have you hit your metrics)
  3. Is your business as profitable as it should be, if no why not? (product/pricing/people/systems – are there holes in your bucket you need to plug))
  4. If you leave your business for several weeks, could it run without you, if not, why? (can you scale yourself)
  5. Do you have a client acquisition system in place, if not, why? (sales system that constantly brings in new customers)
  6. Do you have a fulfillment system in place, if not, why? (System that handles the fulfillment of your product or service
  7. If somebody wanted to buy your business today, is it in condition to sell, if not, why? (just like your house should be in condition to sell to get the most money)

CASE STUDY BEB

Give an overview about BEB and the rebranding (fixing my broken business) WHAT IS MY VISION FOR THE NEW BEBI WANT BEB TO BE THE NUMBER 1 RESOURCE FOR BLACK ENTREPRENEURS

why I’m rebranding, why I’m going to get smaller to get bigger, why I’m going to take on advertisers, why I’m plugging the holes in my bucket to generate more revenue,

Answer your own questions:

  1. Is your business enjoyable for you, if not why? (do the things you enjoy and farm out the rest)

Not as much as it should be. I’ve found myself overworked and I’m not able to do some of the enjoyable things I like to do like create. I’m doing technical things that I’m in the process of passing off. I enjoy doing interviews, creating, and building businesses. ACTION – Farm out the tasks that I don’t need to be doing by hiring contractors and building a team.

  1. Is your business on track to meet your projections, if not why? (have you hit your metrics)

Yes. Despite all the work I have and the other businesses I have I am on track with BEB. That might be because I don’t rely on or require it to be my primary revenue source.

  1. Is your business as profitable as it should be, if no why not? (product/pricing/people/systems – are there holes in your bucket you need to plug)

No, as we move forward it needs to be more profitable to hit my 2022 projections. ACTION – Implement several new revenue streams such as ad revenue, partner revenue, affiliate sales, and creating better systems.

  1. If you leave your business for several weeks, could it run without you, if not, why? (can you scale yourself)

No, I have not created successful systems to allow me to leave for several weeks yet. ACTION – I am in the process of not just rebranding but overhauling all of my systems for BEB and a lot of that is based on my new website, where the website will do the heavy lifting.

  1. Do you have a client acquisition system in place, if not, why? (sales system that constantly brings in new customers)

Yes, but I need to fill the holes in my bucket to capture more prospects. ACTION – The new website is designed to fill the holes in my bucket by giving each visitor a custom experience based on their needs and lead them to the content that they want and need. (www.rightmessage.com)

  1. Do you have a fulfillment system in place, if not, why? (System that handles the fulfillment of your product or service.

Yes, I have leveraged technology to fulfill all my products and services. My digital courses and products are delivered by www.Thinkific.com  and www.Sendowl.com. My physical product fulfillment for my BEB business is handled by an outside fulfillment company that ships out my books.

  1. If somebody wanted to buy your business today, is it in condition to sell, if not, why? (just like your house should be in condition to sell to get the most money)

No, I need to finish upgrading all my systems and processes first.

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