Episode 51: Diagnosing the real reason for lagging product sales

Oct 3, 2022

We all face periods when we feel like trashing our businesses and giving up. This occurs when you have tried a strategy and committed significant resources or juggling an excessive number of responsibilities, but your sales remain flat or fluctuate erratically. So you might be scratching your head now, wondering what you're doing wrong.

This is the episode for you if that description fits your experience.

In this episode, I will examine five potential causes for your inconsistent sales. In a nutshell, they are as follows:

1. A lack of vision
2. Doing it on your own 
3. Doing many things and not focusing on the things actually driving sales
4. Having a complicated business model and bloated product assortment 
5. Complicated marketing and sales channels 

You will leave this episode with a firm grasp of where you went wrong and what you need to do to make things right. You'll appreciate the value of vision, a coach or mentor, and how less means more in product assortment and marketing.

Episode highlights

• [02:00] The value of a vision 
• [08:24] The value of sharpness and decisiveness in decision making
• [09:35] Why you shouldn't go solo 
• [21:47] Why you should prioritize a few activities
• [26:35] Product cannibalism and how to avoid it
• [26:50] How a bloated product assortment chocks and drowns your business
• [27:14] How more products don't always equate to more money
• [36:00] How multiple marketing channels harm your business

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