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Dr John Oda 9 Destructive Mistakes All Business Make in the Hidden Millions They Are Losing

Dr. John Oda is recognized as one of the top entrepreneurs worldwide. Dr. Oda is frequently called upon to provide Corporate Training, Keynote addresses, Workshops, and Seminars for many of our fortune 500 companies in the United States as well as across the Middle East and Europe.

Being an Ultimate Business Growth Strategist coach for the last 23 years, I have seen my share of small and large businesses that do not grow, and if they do grow, they grow at a very slow rate.

Did you know after the last three recessions 17% of businesses did not survive? Seventy four percent did not regain pre-recession profitability over three years. Only 9% came out stronger.

To be successful in your business you must realize only 9% of businesses come out stronger during these uncertain times. Will your business survive? And if so, will it be stronger? If you understand the 9 costly mistakes and notice what areas you need to work on, with expert advice you will be the 9% who come out stronger and ever

  1. Mindset

If a business owner does not have the proper mindset and the willingness to go the extra mile, he or she will not succeed in business. Having the right mindset is 80 percent of business; 20 percent is knowing how to run a business.

  1. Educational Based Marketing

You must be the expert in your client’s eyes. The way to be seen as an expert is to educate your clients.  People go to school to learn, so why do we open a business and try to “sell” rather than “educate”?  Why don’t we educate? Nobody wants to be sold. People want to know you care and want to learn something. What would happen if  you educate your target audience by giving them statistics, teaching them something, because “market data is more motivational than product data.”  When you truly educate, you position yourself as an expert in your client’s and prospect’s eyes.  Did you know that people will pay more for an expert? I used to have a partnership with Anthony Robbins and the late Chet Holmes. They were the experts people would pay to attend the Business Mastery Seminar back in 2009. People would pay $15,000 for a five day class. Why? Because Robbins and Holmes used educational based marketing and they became the experts.  Think of the results you can achieve by modeling that same behavior.

  1. Time Management

Did you know: 72% of small business owners report they work longer and on more weekends and 40% say they take significantly less or somewhat less vacation time” Infographic

Most business owners are running their time management systems using a 1923 model and having non-scheduled meetings because they don’t know how to utilize a time management system.

In order win the game called business it’s critical to have a systemized time management system that you, and your entire company, uses. This way everyone is on the same team and creating the same results. If you are in growth building mode, you must spend 2.5 hours per day looking for new clients. And create a 30, 60, and 90-day game plan so you can track and measure your results.

“Success Leaves Clues” Anthony Robbins

  1. Sales

Do you know:

When a prospect says: “No” I’m not interested” most sales representatives hear “no I’m not interested” 

 48% will give up after only 1 rejection

 20% will try 2 times

 7% will try 3 times

 5% will try 4 times

Do you have a sales team or are you doing the sales in your business or both? Are you a rock star sales person who pursues the prospect more than four times? Do you have sales training to work on skill sets to create results? Do you hot seat and work on the seven steps to a sale to make you and your team more valuable? When I work with sales organizations I am so surprised to see some people making $20,000 per month and other sales people making $5,000 per month selling the same product or services. What created that difference?

Time and again I see that the company has:

  1. No weekly sales training program/hot seating
  2. No sales script
  3. No sales process
  4. No follow up system

People who are provided with systems, trained in those systems and rewarded for using them will use them. Businesses who have people who use systems will win.

  1. Website/SEO

About 80 percent of people do not have a website that is making money.  Most websites are simply promotional pages. Here are a few tips to have a successful website:

  • Your site must be educational. People need a reason to visit your site and Google rewards sites that offer fresh new content for visitors.
  • It must have an opt-in box with some type of downloadable white paper or e-book. This way you can get the visitor’s email address and name.
  • SEO organic ranking is critical. The search engines are your friends because they are how people will find your business. A company might use pay-per-click (PPC), but showing up high in organic search is powerful. Having the proper SEO will get you organic clicks, and you will be on the top of Google, Bing, and Yahoo search engine rankings.
  1. E-commerce

I have realized that less than 20% of businesses who have an e-commerce site are making  money.  We have top e-commerce sites like Amazon, Ebay and Zappos, and the reason these companies are making money is because of their platform and marketing concepts.   When working with our clients in the past we had sites that were pretty to look at, yet not enough money was being made. We found a solution tested it and several of our e-commerce clients made over $5 million during COVID.  Our platform and our marketing strategies made all the difference. These include:

  1. Marketing your business on major marketplaces including: Amazon, Walmart, Sears, Ebay, Facebook and more. Depending on the product we may recommend the use of smaller marketplaces.
  2. Use Social Media campaigns on Facebook, Instagram, Tik Tok and YouTube.
  3. Reach a Greater Audience using Influencer Marketing

We model the methods of the most successful e-commerce companies to help people be the 9% who came out stronger than ever.

  1. Hiring

Did you know when you hire the wrong person it will cost around $60,000? One of my clients told me that he didn’t “pay” the sales person because the job was commission only.  I explained that the leads the sales person didn’t close plus the time spent training still cost the business around $60,000. Hiring the best gives you the best outcome. So hire the best. To do this, give candidates several interviews, require a personality test, and ask them to ask questions. This way you’ll know if they can jump through hoops.  When you hire them, they will do the same for your business.

  1. Systemize your business

Every business must systemize if they want to grow and expand. I see so many companies that don’t have systems. And once you have it in place, it only takes two to three hours per week to keep a system running. When I think of a company with systems, I think of Mc Donald’s where an 18-year-old student can run it. Why? Because they have a system in place. Starbucks is the same way because they systemize their business operations. What if you took time to systemize your business and created the same success as a McDonalds or Starbucks.

  1. Create Profit Stations

 Most companies work IN their business. When you create profit stations you work ON your business. This is where you will see the growth of your business. I have worked with companies and have increased their business by 1,500 percent in three years by adding profit stations. I’ve created over 20 profit stations and most companies can use around 15. The companies who double in size only use two to three profit stations.

So what is a profit station? Creating a referral program is one example. I always ask my clients, “Do you have a referral program?” They always tell me yes. Then I ask them if it is systemized, meaning everyone in the organization knows how to get referrals? One of the companies told me yes, so I interviewed their staff and we found out that they only ask four out of 10 people for referrals. When they do ask for referrals they get about four leads and create sales.  Doing the math with them we found out we lost over $1 million a year, because the entire staff member didn’t ask for referral.

“Business is so easy, people make is so hard” Dr, John Oda

As an Ultimate Business Growth Strategist, I challenge my clients to take a 10-day mental challenge to focus on building wealth. If you verbalize statements on a daily basis like “I am a money magnet;” “Money comes to me in an ocean of abundance;” “Money comes easily and effortlessly;” or “Everything I touch prospers and succeeds,” your income is likely to increase.

Self-help guru and bestselling author, Anthony Robbins, wrote about earning $3,000 per month to $1 million in nine months. How did he do it? He applied the same principles as outlined above for 45 minutes per day. We can create results for ourselves like this too. To do it, though, we must model successful people.

My challenge to all business owners is to take a mental challenge to change your thoughts. That is one of the only things we can change. If we change our thoughts, we can influence our outcomes for the better.

Once you apply these principles and the correct mindset, even if you hear the word “no” this will not phase you at all because you have developed the right mindset to succeed in uncertain times.

At this point you should have a better understanding of how to grow your business, during uncertain times. If you want to go further, faster, I am offering a complementary Breakthrough Session. My team and I can help you avoid the 9 costly mistakes, and help you become the 9% who came out stronger than ever. Make Your Fate say’s Dr. John Oda to his audience.

Official Dr John Oda website

http://www.drjohnoda.net/

Jourdain Bell is a Columnist at Disrupt Magazine. Based in Santa Barbara, California, he specializes in VC, Tech, Branding, and PR. He's been featured in Influencive, Future Sharks, Thrive Global, Vanity Stardom, and more. Jourdain currently works at one of the most active Venture Capital Firms in the world, Alumni Venture Group. Prior to entering the Venture Capital Industry, he Co-founded Beast Media Agency, a digital marketing and PR company focused on helping founders get their stories featured in online publications. Jourdain currently interviews entrepreneurs, founders, and influencers who are making an impact on the world for publications like The Hustlers Digest, Kivo Daily, Future Sharks, Thrive Global and Disrupt.

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