Do You Struggle With Attrition in Business?
Are you like millions of other business owners and struggle with attrition in business? The fact is, 8 out of every 10 people who join your business will quit. This is difficult for EVERYONE that has a business and this also happens to everyone, even the rockstars out there, like Bob Quintana, Ray Higdon and Eric Worre.
I also struggle with this and I was excited to catch a webinar by Eric Worre covering struggling with attrition in business.
With low barriers of entry, home businesses often struggle the most with this. To open your own low overhead, home based business, the cost is only $49 to start the process. So, if someone is struggling, it’s as easy to walk away as it was to start your business. Traditional businesses struggle less with this, due to the amount of investment. If someone invests $200,000 into a business franchise, they’re probably going to stick it out and struggle for awhile longer before they call it quits. Or maybe you have to sign a 5 year lease, either way, you’re committed!
I’ve been in a spot, where I had a $250,000 credit line maxed out, equipment and truck loans for the next 5 years and other marketing commitments, on a struggling business! With EVERYTHING personally guaranteed. I WISHED I could just walk away… Like many people do with a home business.
Some factors to cut down on attrition in business are
- Proclaim yourself. Meaning, announce to your friends and family that you have a business and you’re going to be successful at it. State who you are and where you are headed. This puts a little more pressure on you to get into the game and step up to the plate.
- Be friends with your teammates. People join your business for you. So nurture those relationships. I’ve made many great, long lasting friends, through business, both online and offline.
- Great product experience. If someone lost a lot of weight or improved their health, this is an example of a great product experience. If someone likes the products of their business, they’re more likely to stick in the business.
- Earn MONEY!! When someone joins you in business, make it your personal goal to earn them as much money as you can as quickly as possible! If someone is making money, they’re more likely to continue.
- Rank Advance. IF you someone ranks up and has something to be proud of, guess what? They’re more likely to feel like they need to continue.
- Build a Team! If someone has a team, they now have something they may regret walking away from. Their team needs them!
- Attend an event. When someone goes to an event, magic happens! They become believers.