Running a business is never a straight line. Even the best products and most passionate founders can hit a wall. Over the years, I’ve seen a pattern: the businesses that struggle often make the same core mistakes. The good news is that with a bit of clarity and focus, each one can be corrected.
Here are the three biggest mistakes I see struggling businesses make — and what to do about them.
1. Chasing Too Many Opportunities at Once
When revenue is tight, it’s natural to want to say “yes” to every potential opportunity. But the reality is that spreading yourself thin often means you don’t execute anything particularly well. You end up with half-finished projects, inconsistent messaging, and a team that feels overwhelmed.
The fix: Get ruthless about focus. Identify your most profitable product or service and double down on it. Look at where 80% of your revenue is coming from and prioritize that. Focus beats variety every time when resources are limited.
2. Ignoring Sales and Marketing Fundamentals
Many business owners assume that if they build a good product, customers will simply show up. Unfortunately, that’s rarely true. Without a clear sales funnel and consistent marketing activity, even strong businesses plateau.
The fix: Start by mapping your customer journey. How do people find you, and what steps do they take before buying? Then make sure you have a simple, repeatable process for generating leads and converting them. This doesn’t need to be complicated — it might be as simple as a strong website, a clear call-to-action, and a consistent outreach rhythm.
3. Failing to Track the Right Numbers
Struggling businesses often fly blind. They might know what’s in the bank account, but they don’t have a clear handle on margins, customer acquisition costs, or cash flow forecasts. Without those, it’s impossible to make good decisions.
The fix: Pick a small set of numbers to track weekly — revenue, expenses, pipeline, and cash in/cash out. Don’t overcomplicate it. A simple spreadsheet can tell you most of what you need. When you know the numbers, you can spot issues early and act before they become crises.
Final Thought
Most struggling businesses don’t fail because of one big dramatic event — they fail because of small mistakes that build up over time. The good news is that with a fresh perspective and a disciplined approach, those mistakes can be corrected.
If your business feels stuck or off course, you don’t need to figure it out alone. Sometimes the quickest path forward is simply getting a clear-eyed view of where you are, where you’re going, and what needs to change.