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Marketing School - Digital Marketing and Online Marketing Tips

What Should You Do When Your Business Stops Growing? | Ep. #184

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Careers, Business, Marketing

4.6 • 1.3K Ratings

🗓️ 31 January 2017

⏱️ 11 minutes

🧾️ Download transcript

Summary

In Episode #184, Eric and Neil discuss what you should do when your business stops growing. There are many different solutions and options you can explore before deciding to throw the towel. Tune in to find out what Eric and Neil used as solutions when their own businesses were struggling and how an outsider’s perspective can make all the difference in saving your business. Time Stamped Show Notes: 00:30 – Today’s topic: What Should You Do When Your Business Stops Growing? 00:45 – First, look at your analytics and numbers and see what’s going on 00:53 – Are you losing traffic? Assess, then look at the actions you should take 02:00 – Do your due diligence, don’t necessarily give up 02:20 – Look at other businesses and see how they are growing, learn from them 03:37 – Sometimes you’re too close minded about your processes 04:00 – Neil shares an example from his own personal experience 04:14 – One small change like changing URL structure, does make the difference to growing your traffic 05:17 – The solution isn’t necessarily in your head, step back, and try to look at it form an objective perspective 05:30 – Network with others, be transparent with what’s happening, and you might get the RIGHT feedback and ideas that are worth trying out and will HIT that problem 06:14 – Just because you’re an expert in your space, doesn’t mean you know how to grow your own business 06:36 – Sometimes you’re too close to your own business to see what needs changing 06:45 – Pay contractors and find consultants, or go to networking events 07:40 – Eric shares his struggle with finding lead sources; check out Nathan Latka's podcast He Bought a $150k/mo Agency for $2 with Eric Siu 08:21 – Joining Entrepreneurs' Organization helped Eric find out what he needed to do to save his company—the peer group helped him learn from their experiences 09:16 – If he didn’t have help from this particular peer group, he’d be left Googling for solutions 09:45 – Network at conferences! 09:55 – At the end of the day, you’re dealing with humans and you need that connection 10:30 – That’s it for today’s episode! 3 Key Points: If you feel like your business is struggling, ASSESS your analytics and numbers to find out what’s going on BEFORE you take action. Get an outsider’s perspective and help even IF you’re an expert at what you do—sometimes you’re just too close to the situation. ENGAGE and NETWORK—at the end of the day, you’re dealing with humans and you need that community to help you out. Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu

Transcript

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0:00.0

Get ready for your daily dose of marketing strategies and tactics from

0:06.8

entrepreneurs with the guile and experience to help you find success in any

0:11.4

marketing capacity. You're listening to marketing school

0:14.5

with your instructors Neil Patel and Eric Sue.

0:19.4

All right guys before we start we got a special message from our sponsor.

0:27.0

If you want to rank higher on Google, you gotta look at your paid speed time.

0:31.5

The faster your website loads, the better off you are. With

0:34.4

Google's core vital update, that makes it super, super important to optimize your

0:38.5

site for low time. And one easy way to do it is use the host that Eric and I use dream

0:44.5

host so just go to dream host or Google it find it check it out and it's a great way

0:49.7

to improve your low time.

0:55.0

Welcome to another episode of marketing school. I'm Errat Sue, and I'm Neil Patel.

0:57.0

And today we're going to talk about what you should do

1:00.0

when your business stops growing.

1:03.4

So first thing I like to do when I,

1:06.3

when stuff stops working, it could be like a rankings drop

1:09.5

or you know, could be like revenues are stagnant,

1:11.4

like kind of what we're talking about right now is I want to look at my analytics I want to look at the numbers I want to look at my quickbooks for example I want to see what's going on you know, are we losing a ton of traffic from one area?

1:23.4

It did something that we get hit by penalty or something like that.

1:26.5

What do we need to do? What do we need to assess first and then from there what kind of

1:30.0

action items should we be taking and then you know we can break it down in terms of high priority,

1:34.4

low priority, right? So one example I can give you is with the senior living business that I have

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