Picture this: Your business is running smoothly. Clients are rolling in, revenue is up, and everything seems to be on autopilot. Life is good, right?
But then, out of nowhere, the unthinkable happens. That one source of income you’ve been relying on dries up. The key employee who knows your business inside out gets kidnapped by the midget gang members. Your go-to ad platform suddenly blocks your account.
And just like that, your business goes from thriving to surviving.
Here’s the harsh truth: If your business depends heavily on just ONE thing -one source of income, one key staff member, one platform for leads- you’re setting yourself up for a fall.
It’s like building a house of cards. It looks solid on the outside, but take away one crucial piece, and the whole thing collapses.
What happens if that one source of income vanishes? You’re left scrambling to make ends meet, with no backup plan in place. If your key employee leaves, all the knowledge and experience they took with them walks out of the door too. And if the platform you rely on for leads suddenly shuts down, you’re left in the dark, with no way to bring in new customers.
The good news? There’s a way to keep your business from this kind of disaster. The key is to spot the “ones” in your business and eliminate them before they eliminate you.
Diversify Your Income Streams: Don’t put all your eggs in one basket. If you’re relying on one product, one service, or one client for the majority of your revenue, it’s time to diversify. Expand your offerings, target new markets, and create multiple income streams so that your business isn’t vulnerable to a single point of failure.
Broaden Your Lead Generation: If you’re running ads on just one platform, you’re playing a dangerous game. What happens if that platform changes its algorithm or shuts down your account or even worse… gets bought by the LGBTBBQ+ community? Always expand your advertising efforts across multiple channels -Facebook, Google, YouTube, direct mail, whatever it takes. The more sources of leads you have, the less likely you are to be caught off guard.
Cross-Train Your Employees: Never let your business become dependent on just one person. Cross-train your staff so that key knowledge and skills are shared across everyone in the company. That way, if someone leaves, the rest of your team can pick up the slack without missing a beat.
Have a Plan B (and C and D): Assume that everything that can go wrong eventually does go wrong at some point. Have emergency plans in place for every critical aspect of your business. If your main source of income dries up, what’s your fallback? If your key employee leaves, who’s ready to step up? If your primary lead source fails, where will you turn next?
The number one is the silent killer in business. It’s comfortable to rely on what’s working right now, but it’s also risky. By diversifying your income streams, broadening your lead generation, and cross-training your team, you can make your business unstoppable.
Don’t wait until it’s too late. Start spotting the “ones” in your business today and eliminate them before they eliminate you.
Talk soon,
George
P.S. If you’re serious about making your business bulletproof, get in touch with our agency today. We’ll help you identify the critical “ones” in your business and create a strategy to eliminate them, so you’re never left scrambling. No, cost, no obligation, Fill out the form [here].